Midland National Teams Up With RetireOne On Advisory Annuity

SAN FRANCISCO and WEST DES MOINES, Iowa, Oct. 28, 2020 /PRNewswire/ -- Midland National Life Insurance Company (Midland National) and RetireOne  have collaborated on the development of a new protected accumulation solution offering growth potential in two different forms. The IndexMax ADV fixed indexed annuity (FIA) layers in potential annual performance credits with additional 5- or 7-year term participation credits.

IndexMax ADV offers two indices for its layered crediting strategy: the Fidelity Multifactor Yield Index 5% ER and the S&P 500^® Low Volatility Daily Risk Control 5% Index ER. Exclusively available through RetireOne's fiduciary marketplace, this commission-free advisory solution connects easily to preferred advisor technologies, which makes automated billing simple.

"Midland National has a long track record of strength and stability, and we look forward to working closely with RetireOne to deliver products that engender a deeper level of comfort for clients of Registered Investment Advisors (RIAs) in volatile markets," said Rob TeKolste, president, Sammons Independent Annuity Group.  "We designed the IndexMax ADV to deliver downside protection during the long term. It can grow accumulation value with a layered crediting strategy and offers stability, protecting from loss in a market downturn."

IndexMax ADV is designed with rates the policyholder can count on, as they are guaranteed for the duration of each term. It also includes a waiver allowing penalty-free withdrawal of assets after the first contract year in the event they become confined to a qualified nursing facility for 90 consecutive days.

"Our recent survey of RIAs indicates that they are considering protected accumulation solutions for clients right now," said David Stone, RetireOne Founder and CEO. "With uncertainty around the Covid-19 pandemic, and low interest rates, they are seeking an alternative to increasing equity allocations. We're excited to begin our partnership with Midland National by bringing a multi-faceted solution to help better define outcomes for the clients of RIAs."