WEST DES MOINES, IA – February 21, 2013 -- Midland National Life Insurance Company has introduced an innovative annuity product solution which is focused on retirement income. The MNL IncomeVantageSM is the first fixed index annuity from Midland National that offers a stacking roll up feature to enhance the income opportunity. Along with the potential growth of stock-market linked index accounts, this new fixed index annuity has a built-in Guaranteed Lifetime Withdrawal Benefit (GLWB) feature which provides multiple growth opportunities through a combination of GLWB Bonus on premiums, a GLWB Stacking Roll-Up Credit, plus Interest Credits. This combination is designed to grow the GLWB Value over the years to maximize the lifetime income payments available to clients.
“One of the most significant needs for retirees is to plan for and to reach financial security with retirement income they will not outlive,” stated Kevin Paulson, Vice President and Chief Distribution Officer. “Our objective was to build on the success of MNL RetireVantageSM, a product designed to provide preservation of premium combined with long-term growth opportunity. We wanted to offer clients another solution focused on fulfilling the additional need of a guaranteed income stream along with growth potential. MNL IncomeVantage does just that and further enhances our innovative product line. With these two products, MNL RetireVantage and now MNL IncomeVantage, we believe we offer powerful solutions which can address some of the most critical concerns of retirees today -- specifically safety of retirement assets with growth potential, and a guaranteed income that you cannot outlive.”
While Midland National’s product line-up already includes an optional rider that can be added to fixed index annuities to provide lifetime income, this new product expands and strengthens the value and solutions for those clients where guaranteed income in retirement is the predominant need.
About Midland National
Midland National Life® Insurance Company is a leading provider of Fixed Indexed Annuities in the U.S. consistently ranking among the top 10 index annuity carriers in the U.S. (AnnuitySpecs, quarterly Indexed Sales & Market Report). Midland National is an affiliated company of Sammons Financial Group, Inc. (SFG) the parent of a group of companies affiliated under the insurance Holding Company Act, made up of several successful financial services companies offering a variety of financial and retirement products through multiple distribution channels. With production, product development, management and operations based in West Des Moines, Iowa, Sammons Annuity Group, a division of Midland National, manufactures and distributes annuity and life insurance products through over 17,000 independent agents in 49 states and the District of Columbia. For more information, contact Judy Thorpe at
515-327-5816, 4350 Westown Parkway, West Des Moines, IA 50266.
This product is issued by Midland National Life Insurance Company, West Des Moines, IA. Product features and riders may not be available in all states. The MNL IncomeVantageSM and the MNL RetireVantage are issued on form AC/AS139A, AC/AS124A (certificate/contract), AR153A, AR156A, AR159A, AR163A, AR163A-1, AR192A, AR194A, AR201A, AR227A, and AR244A, AR245A, AR246A, AR247A, and AR248A (riders/endorsements) or appropriate state variation.
This is a brief summary of product features. Please contact the company for more information and complete product details and limitations.
17948Y PR | PRT 02-13