Midland National MNL Select - 10 Year Annuity Review
The Midland National MNL Select 10 annuity is a Fixed Indexed annuity designed for growth with an available income rider. Midland also offers a 14 year, an 8 year, and a 6 year version of this annuity.
MNL Select Annuity Highlights:
- This annuity offers penalty-free interest withdrawals.
- There are no fees, loads, or sales charges.
- Participate in stock market gains without any downside risk.
- Click to read the MNL Select company brochure.
Frequently Asked Questions About the MNL Select Annuity:
Q: What is the minimum premium I need to pay?
A:$10,000 Low Band
$250,000 High Band
Q: Am I paid a bonus on my initial premium at sign-up?
A: No, there is no bonus.
Q: Can I pay additional premium later on?
A: Yes. A minimum of $50 each time.
Q: Are there any age restrictions?
A:Yes. You can purchase this annuity up to age 75. In some states the age requirements may differ.
Q:In which states is the MNL Select 10 annuity available?
A:The MNL Select 10 annuity is not available in all states. Call 800-872-6684 to find out if it's available in your state.
Q: Does this annuity have an income rider (for withdrawing income)?
A: Yes, for the 10% penalty free option. Otherwise, you can annuitize after the first contract year if you choose a lifetime payout.
Click here for the income rider brochure.
Q: For how long are surrender charges in effect?
Q:Does the MNL Select 10 annuity permit any withdrawals without penalties?
A:Yes, 5% of the accumulation value after the first contract year.
Q: What benchmark indices do the MNL Select 10 offer?
A:Midland National’s Select Series annuity offers six different indices into which you can allocate your premium. The current options are S&P 500, Dow Jones Industrial Average (DJIA), S&P Midcap 400, Russell 2000, Nasdaq-100 and Euro Stoxx 50.
Q: What are the index account options?
A:Monthly Point-to-Point and Annual Point-to-Point.
Q: What is the Method for Crediting Interest or Gains?
A: Cap rates.
To review the MNL Select annuity with an agent or to receive a free personalized illustration call 800-872-6684 or fill in the "Get My Free Quote" form in the upper right section of this page. You can also post your questions in the "Add a comment..." section below.
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