Midland Retirement Distributors specializes in fixed and fixed index annuities that provide customers and clients with choice, focus, and flexibility in their retirement planning.
Issued by Midland National® Life Insurance Company, the Summit FocusSM 3 offers simplicity and stability, with guaranteed crediting rates and upside potential with 100% protection against losses from stock market downturns. The focus on a three-year contract period is designed for clients who need a short-term solution during a time of transition, or who may be looking for more upside potential than a traditional fixed-rate product can offer. The product is aimed at clients with concerns about the potential for annually declining rates in subsequent years of a longer-term contract.
"In planning for retirement, it is vital to take a long-term look. Clients nearing retirement can have concerns about growing their money to make certain it is there when needed. This concern hasn't changed," said Bill Lowe, president of Sammons Institutional Group. "We want to have an option for clients who may need a stop-gap in their retirement planning, or who are uncomfortable with long surrender charges. The Summit Focus 3 helps deliver simplicity and stability through a shorter commitment or time frame."
The Summit Focus 3 fixed index annuity offers key consumer benefits, including:
A short-term commitment of only three years1
Stable crediting rates that are guaranteed for the three-year term
Protection against losses during a market downturn
Upside growth potential based on the performance of quality index options
Tax deferral, because a client pays no taxes until a withdrawal is taken2
"Summit Focus 3 fills a unique niche," Lowe added. "Midland Retirement Distributors is pleased to be able to add yet another solution to help financial professionals best serve their clients."