Additional product features Learn how MNL IndexBuilder® works to help offer stability, growth potential, lifetime income, flexibility, and a legacy. Provide a lasting legacy MNL IndexBuilder includes a death benefit, which can provide your beneficiary your annuity’s full accumulation value or minimum surrender value as of the date of death, whichever is greater. Your beneficiary may choose to receive the payout in either a lump sum or a series of income payments. By naming a beneficiary, you may minimize the delays, expense and publicity often associated with probate. Please consult with and rely on your own legal or tax professional.
Contract values Accumulation value
The accumulation value is 100% of premium, allocated to the fixed and indexed account option plus any base or enhanced premium bonus (if ABR is elected) less any withdrawals plus any interest credits. The accumulation value will be reduced by the amount of any withdrawals (including any rider charges), but cannot decrease due to negative index performance. Full surrender – surrender value If you decide to surrender or terminate your Annuity Contract, the surrender value is the amount that is available to you as a lump sum. The surrender value is equal to the accumulation value, subject to market value adjustment, less applicable surrender charges, premium bonus recapture, and state premium taxes. The surrender value will never be less than the minimum requirements set forth by state law, at the time of issue, in the state where the Annuity Contract is delivered or issued for delivery. The minimum surrender value will never be less than 87.5% of all premiums less any surrenders (after MVA or reduction for surrender charges and premium bonus recapture) accumulated at a rate not less than the rate required or otherwise directed by your Annuity Contract. 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 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.
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