Key benefits of MNL Accelerate 5
Know the lingo Premium The amount paid to the insurance company to fund an annuity. $20,000 minimum for non-qualified and qualified premium.
Choose a strategy that suits you MNL Accelerate offers a selection of industry leading crediting strategies using an easy to apply participation rate-which uses a simple percentage multiplied by any index gain at the end of the contract year to determine the interest credit applied to your contract. Lock in a guaranteed participation rate Having a guaranteed participation rate means that regardless of index performance, your participation rates won’t go down over the 5-year surrender charge period, and is only subject to change annually after that. Tax deferral improves growth potential Your annuity’s value grows on a tax-deferred basis, meaning more of it is working for you. Tax-deferred growth means you don’t owe taxes until you access your funds, allowing more time for growth potential. Work with your tax advisor to find out how this might work for you. Under current law, annuities grow tax deferred. An annuity is not required for tax deferral in qualified plans. Annuities may be subject to taxation during the income or withdrawal phase. Please note that neither Midland National, nor any financial professionals acting on its behalf, should be viewed as providing legal, tax or investment advice. Consult with and rely on your own qualified advisor. Provide a lasting legacy Your beneficiaries will get the remaining accumulation value of your annuity as a death benefit – either in an immediate lump sum or in installments plus any partial interest credits as of the date of death (if applicable). The death benefit may be reduced for premium taxes at death as required by the state of residence. And, because annuities may avoid the costs and delays of probate, they may not have to wait. Please consult with and rely on your own legal or tax advisor. Take advantage of flexible payout options Whether you need to start drawing income soon after purchasing your annuity or you’d prefer to wait and build your lifetime income potential, there’s an option for you. Learn more in the payout option section.
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