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DISCONTINUED PRODUCT - Product not available to new enrollees.

MNL Select Series
Product ID: 117

Vendor:
Midland National Life Insurance Company
Type:
Equity Indexed Annuity 
Discontinued Discontinued


0%
AM Best:
A+
S&P:
A+
14 Years / 9.00%
Yes





A fixed index that offers you the ability to apply all or a portion of your premium among two accounts: an Indexed Account or Fixed Account. This product also allows you the flexibility of the surrender charge opions of 6,8,10 and 14 years and allows you to choose penalty free withdrawals of 5% or 10%. These choices are made at the time of application.

Select the topics below to expand and view additional product details


Loans on TSA contract only. Maximum loan amount cannot exceed $50,000.00 or 1/2 of the surrender value.

Riders are amendments to the annuity contract that typically add to your costs. make sure you inquire about any additional costs. The following riders exist for this product:

Nursing Home Rider:
After the first contract anniversary, should the annuitant become confined to a qualified nursing home facility for at least 90 consectutive days, we will increase the penalty-free withdrawal amount up to 20% of the accumulation value each year while the annuitant is confined. (15% withdrawal if you have chosen the 5% penalty free withdrawal option) For issue ages 75 and younger, this rider is automatically included in the annuity at no cost.
Income payable for your lifetime and the lifetime of your spouse. After your death or the death of your spouse, payments continue to the surviving spouse for his/hers life.
Payments will be made only during your lifetime. After your death, no further payments will be made. No payments will be made to an estate or any other person.
Income payable for your lifetime with a guaranteed payment period ranging from 5 to 20 years. If you die before the end of the period, payments continue to a named beneficiary until the end of the period. The period certain option cannot be set-up to pay past age 100 for the owner and annuitant.
Income for a fixed number of years (5 to 20), with payments continuing to a named beneficiary should occur prior to the end of the period certain. The period certain payment option cannot be set-up to pay past age 100 for the owner or annuitant.

Point-to-Point
S & P 500
Nasdaq 100
S & P 400
Lehman US Treasury Bond
Dow Jones Industrials
Russell 200o and DJ EuroStoxx 50
The annual point to point crediting method is calculated by determining the index growth using two "points" in the index during the reset period. The index growth for that year is determined by the changes in the index values on the first and last days of the contract year, subject to an Index Cap Rate. Monthly point to point is determined by the change in the index over a one month period,subject to a monthly cap. The index growth, if any, is credited annually and is based on the sum of all the monthly percentage changes in the index which could be positive or negative. On each contract anniversary these changes, not to exceed the monthly index cap, are added together to determine the index credit for that year.

An Index Cap Rate is applied to each of the Indexed Accounts. This rate, which is based upon current economic conditions, is declared each contract anniversary. Upon issue, the minimum Index Cap Rate will be guaranteed for the entire term of your contract.

see below
No penalty will be applied if the following requirements are met. By current compay practice, proceeds may be converted to a settlement option after 1 year. Income payments will be based on accumulation value if a life, life and certain or joint life option is selected, or if the annuity has been in force for at least five years and payments are received over at least a five year period. (over 10 years for the 14 year option).


All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact of fees, and the different types of fees please refer to the Explanation of Fees piece located in the Help & Resources.

Surrender Charges

Surrender Period* Surrender Percentage
1 9.00%
2 9.00%
3 9.00%
4 9.00%
5 8.00%
6 8.00%
7 7.00%
8 7.00%
9 6.00%
10 6.00%
11 5.00%
12 4.00%
13 3.00%
14 2.00%

*Expressed in contract years


Exceptions to the Surrender Charge:
Percent of contract value:
10.00%
Death:
Yes
Nursing Home or Other Medical Expenses:
Yes
Other Restrictions:
This product also offers a 6, 8 and 10 year surrender charge period. Please contact your agent for more specific information regarding these options.

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