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Fixed Indexed Annuity

MNL IncomeVantage Pro

Midland National

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7%

Best S&P 500 Annual Cap

5%

Free W/D

50

Available jurisdictions

Product data status: September 22, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Model this product

See what MNL IncomeVantage Pro would do for you

Set your numbers and switch between growth, income, and liquidity. Index losses credit 0% — the floor — so a down market never reduces your value.

Product analyzer
Illustrative — live CANNEX rates as of September 22, 2026; not a projection or guarantee.
Crediting strategy
Compare against
$276,697
Est. value at age 80 (MNL IncomeVantage Pro)
7%
Best S&P 500 1-yr point-to-point cap
S&P 500 Index — 7% Cap (Annual)
✦
How crediting works: the cap limits positive index returns; a down year credits 0%, never a loss. A cap strategy tracks the index within its terms. What is a cap vs participation? →
Assumptions: illustrative — applies MNL IncomeVantage Pro's published cap rate (7% on S&P 500 Index) to a standard benchmark hypothetical index path (~5.4%/yr average, including down years) with a 0% floor over 20 years. Not a projection, quote, or guarantee. Live CANNEX rates as of September 22, 2026.

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See how MNL IncomeVantage Pro compares for your age, state, premium, and income goals alongside other Midland National fixed indexed annuity options.

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rate data

Run numbers for MNL IncomeVantage Pro

rates, riders, crediting strategies, state availability, and contract facts stay scoped to this Midland National product.

Live product data

Rates as of September 22, 2026, from AdvisorWorld and CANNEX.

GLWB lifetime payout rate

6.3% lifetime payout + 2% roll-up

An income-led ten-year fixed indexed annuity from A-plus-rated Midland National with an optional GLWB rider available in two designs (Level Income flat or Increasing Income that grows with index credits) and an Enhanced Return-of-Premium death benefit, filed in 50 jurisdictions.

RMD-friendly income ridersAdvisorWorld + CANNEX data

Best fit

Buyers planning around lifetime income who can defer for a decade and want both a documented GLWB withdrawal rate and a meaningful death-benefit guarantee — and the choice between starting the income stream higher and flat, or lower and growing with index credits.

AM Best

A+ Superior

Surrender period

10 years

Free withdrawal

5%/yr

Availability

50 jurisdictions (excl. New York)

Minimum premium

$20,000

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

7% cap rate

Annual cap

1-year term · 10-year surrender · Does not vary by premium

S&P 500

S&P 500 Index

Monthly Point-to-Point · monthly sum cap

2.25% cap rate

Monthly cap

1-year term · 10-year surrender · Does not vary by premium

S&P 500

S&P 500 Index

8.5% trigger rate

Performance trigger

1-year term · 10-year surrender · Does not vary by premium

S&P 500

S&P 500 Index

40% participation rate

Participation

1-year term · 10-year surrender · Does not vary by premium

S&P 500

S&P 500 Index

50% participation rate

Participation

2-year term · 10-year surrender · Does not vary by premium

Fixed Account

Fixed Account

3.45% declared rate

Fixed account

1-year term · 10-year surrender · Does not vary by premium

+ 12 additional crediting options (S&P MARC, Fidelity Multifactor, S&P 500...)

Lifetime Income Riders

Income rider

GLWB - Income

RMD friendly
Lifetime payout rate6.3% lifetime payout
Guaranteed roll-up2%/yr

Income rider

GLWB - Increasing Income

RMD friendly
Lifetime payout rate4.85% lifetime payout
Guaranteed roll-up2%/yr

Product analyst notes

How to think about this contract

Why it can stand out

  • Income is the design intent: an optional GLWB rider offered in two flavors — 'Level Income' with a higher starting payout that stays flat, and 'Increasing Income' with a lower start that grows alongside index credits — letting buyers pick the income shape that matches their planning.
  • A-plus rated carrier (A.M. Best) — Midland National is one of the larger U.S. fixed-annuity writers, which matters when the contract is funding lifetime income.
  • Ten-year surrender chassis is the standard deferral length for income-led FIAs, giving the rider's withdrawal base a full decade of roll-up time before income turns on.
  • Crediting menu mixes a recognizable S&P 500 annual point-to-point cap with participation-rate strategies on proprietary volatility-controlled indexes, so the rider's withdrawal base has multiple credit paths during deferral.
  • Enhanced Return-of-Premium death benefit — unusual on an income-led FIA at this tier; most income filings offer only the cash surrender value as the death benefit.
  • Nursing-home and RMD surrender-charge waivers in the contract.

What to confirm

  • The strategy menu contains monthly-sum cap options alongside the annual point-to-point cap and contains fee-bearing strategy variants — the published rate on monthly-sum and fee-bearing options is structurally different from a clean annual cap, so compare on the like-for-like option.
  • Two rider designs with very different income shapes — Level Income starts higher and stays flat, Increasing Income starts lower and grows. Compare the lifetime payment streams under realistic crediting assumptions, not just the day-one withdrawal rate.
  • Several index strategies use proprietary volatility-controlled indexes (S&P MARC, Fidelity Multifactor Yield, S&P 500 Dynamic Intraday TCA, Nasdaq-100 Volatility Control). Their participation rates look high in absolute terms but are not directly comparable to an S&P 500 cap.
  • Free-withdrawal allowance on this contract is narrower than the more common standard for accumulation-led FIAs — liquidity is tighter on this contract than on the accumulation-led siblings; the live allowance is shown on this page.
  • Market value adjustment applies on early surrender on top of the surrender-charge ladder, which runs the full ten-year surrender window.
  • Filed in 50 jurisdictions (every state and DC except New York) — New York residents are not on this contract.

Not ideal for

Buyers who want pure tax-deferred accumulation without paying a rider fee, anyone who needs broader annual penalty-free liquidity than the live filing publishes, anyone who may need full liquidity inside the ten-year surrender window (MVA layers on top), and New York residents (not filed there).

Free Comparison Report

Get a MNL IncomeVantage Pro rate report

See how MNL IncomeVantage Pro compares for your age, state, premium, and income goals alongside other Midland National fixed indexed annuity options.

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All crediting strategies

View rate listings (32 strategies)

These are the current crediting strategies available for this product. Use the filters to narrow by index, term, premium band, or rate type.

Par: 190% · 1-yr

S&P MARC 5% Excess Return

Enhanced Participation Rate · participation

10-yr surrenderDoes not vary by premium

Par: 190% · 1-yr

Fidelity Multifactor Yield Index 5% ER

Enhanced Participation Rate · participation

10-yr surrenderDoes not vary by premium

Par: 140% · 1-yr

S&P MARC 5% Excess Return

participation

10-yr surrenderDoes not vary by premium

Par: 140% · 1-yr

Fidelity Multifactor Yield Index 5% ER

participation

10-yr surrenderDoes not vary by premium

Par: 140% · 1-yr

S&P MARC 5% Excess Return

participation

10-yr surrenderDoes not vary by premium

Par: 140% · 1-yr

Fidelity Multifactor Yield Index 5% ER

participation

10-yr surrenderDoes not vary by premium

Par: 80% · 1-yr

Nasdaq-100 Volatility Control 12% Index

Enhanced Participation Rate · participation

10-yr surrenderDoes not vary by premium

Par: 65% · 1-yr

S&P 500 Dynamic Intraday TCA Index (USD) ER

Enhanced Participation Rate · participation

10-yr surrenderDoes not vary by premium

Par: 60% · 1-yr

Nasdaq-100 Volatility Control 12% Index

participation

10-yr surrenderDoes not vary by premium

Par: 60% · 1-yr

Nasdaq-100 Volatility Control 12% Index

participation

10-yr surrenderDoes not vary by premium

Par: 50% · 1-yr

S&P 500 Dynamic Intraday TCA Index (USD) ER

participation

10-yr surrenderDoes not vary by premium

Par: 50% · 1-yr

S&P 500 Dynamic Intraday TCA Index (USD) ER

participation

10-yr surrenderDoes not vary by premium

Par: 40% · 1-yr

S&P 500 Index

participation

10-yr surrenderDoes not vary by premium

Par: 40% · 1-yr

S&P 500 Index

participation

10-yr surrenderDoes not vary by premium

Trigger: 8.5% · 1-yr

S&P 500 Index

trigger

10-yr surrenderDoes not vary by premium

Trigger: 8.5% · 1-yr

S&P 500 Index

trigger

10-yr surrenderDoes not vary by premium

Cap: 7% · 1-yr

S&P 500 Index

cap

10-yr surrenderDoes not vary by premium

Cap: 7% · 1-yr

S&P 500 Index

cap

10-yr surrenderDoes not vary by premium

Fixed: 3.45% · 1-yr

Fixed Account

fixed

10-yr surrenderDoes not vary by premium

Fixed: 3.45% · 1-yr

Fixed Account

fixed

10-yr surrenderDoes not vary by premium

Cap: 2.25% · 1-yr

S&P 500 Index

Monthly Point-to-Point · monthly_sum_cap

10-yr surrenderDoes not vary by premium

Cap: 2.25% · 1-yr

S&P 500 Index

Monthly Point-to-Point · monthly_sum_cap

10-yr surrenderDoes not vary by premium

Par: 210% · 2-yr

Fidelity Multifactor Yield Index 5% ER

participation

10-yr surrenderDoes not vary by premium

Par: 210% · 2-yr

Fidelity Multifactor Yield Index 5% ER

participation

10-yr surrenderDoes not vary by premium

Par: 200% · 2-yr

S&P MARC 5% Excess Return

participation

10-yr surrenderDoes not vary by premium

Par: 200% · 2-yr

S&P MARC 5% Excess Return

participation

10-yr surrenderDoes not vary by premium

Par: 80% · 2-yr

Nasdaq-100 Volatility Control 12% Index

participation

10-yr surrenderDoes not vary by premium

Par: 80% · 2-yr

Nasdaq-100 Volatility Control 12% Index

participation

10-yr surrenderDoes not vary by premium

Par: 70% · 2-yr

S&P 500 Dynamic Intraday TCA Index (USD) ER

participation

10-yr surrenderDoes not vary by premium

Par: 70% · 2-yr

S&P 500 Dynamic Intraday TCA Index (USD) ER

participation

10-yr surrenderDoes not vary by premium

Par: 50% · 2-yr

S&P 500 Index

participation

10-yr surrenderDoes not vary by premium

Par: 50% · 2-yr

S&P 500 Index

participation

10-yr surrenderDoes not vary by premium

Income riders

Income rider

GLWB - Level Income

RMD friendly
Lifetime withdrawal rate6.3%
Annual rider feeNot shown
Guaranteed roll-up2%/yr
Deferral assumed0 years

GLWB

Income rider

GLWB - Level Income

RMD friendly
Lifetime withdrawal rate6.15%
Annual rider feeNot shown
Guaranteed roll-up2%/yr
Deferral assumed0 years

GLWB

Income rider

GLWB - Level Income

RMD friendly
Lifetime withdrawal rate5.8%
Annual rider feeNot shown
Guaranteed roll-up2%/yr
Deferral assumed0 years

GLWB

Income rider

GLWB - Level Income

RMD friendly
Lifetime withdrawal rate5.65%
Annual rider feeNot shown
Guaranteed roll-up2%/yr
Deferral assumed0 years

GLWB

Income rider

GLWB - Increasing Income

RMD friendly
Lifetime withdrawal rate4.85%
Annual rider feeNot shown
Guaranteed roll-up2%/yr
Deferral assumed0 years

GLWB

Income rider

GLWB - Increasing Income

RMD friendly
Lifetime withdrawal rate4.7%
Annual rider feeNot shown
Guaranteed roll-up2%/yr
Deferral assumed0 years

GLWB

Income rider

GLWB - Increasing Income

RMD friendly
Lifetime withdrawal rate4.35%
Annual rider feeNot shown
Guaranteed roll-up2%/yr
Deferral assumed0 years

GLWB

Income rider

GLWB - Increasing Income

RMD friendly
Lifetime withdrawal rate4.2%
Annual rider feeNot shown
Guaranteed roll-up2%/yr
Deferral assumed0 years

GLWB

Common questions about MNL IncomeVantage Pro

● Can I lose money in MNL IncomeVantage Pro?

A negative index return by itself does not reduce the contract's account value: MNL IncomeVantage Pro credits 0% — the floor — for that indexed period. The account value can still decrease from published strategy fees, withdrawals, surrender charges, other contract-specific deductions. In years with no credited interest, those deductions can reduce the account value. Up to 5% of your value can be withdrawn each year without a charge; withdrawals above the penalty-free amount during the surrender period can incur a surrender charge.

● Is the GLWB - Level Income income rider worth it?

It depends on whether you will use the guaranteed income. If you are accumulating only, you can skip it. If you want guaranteed lifetime income later, the 2% roll-up and 6.3% withdrawal rate can make it worthwhile — model it in the Income tab of the analyzer above.

● When can I access my money without a surrender charge?

Up to 5% of your account value each year is penalty-free. The scheduled surrender charges run 10 years; after that the surrender-charge schedule ends. Bonus vesting, market value adjustments when applicable, and other contract rules can still affect the amount available. The Liquidity tab of the analyzer shows the year-by-year surrender charge.

● How do MNL IncomeVantage Pro's crediting strategies compare?

Use "Compare against" in the analyzer to overlay another available MNL IncomeVantage Pro strategy on the same premium, age, years, and hypothetical index path. The control labels the strategy type, rate, index, and context so caps, participation rates, triggers, spreads, and fixed-account choices are not treated as interchangeable.

Key Features

Free withdrawal

5%/yr

Annual amount that may be available without surrender charges, subject to contract terms.

Surrender waivers

2

Nursing home waiver, RMD waiver

Death benefit

Enhanced Death Benefit

Beneficiary value depends on contract terms, withdrawals, and rider elections.

Cap-rate floor

0.25%

Minimum guaranteed cap for cap-based indexed strategies.

Declared-rate floor

0.25%

Minimum guaranteed declared rate for declared-rate or performance-trigger strategies.

Fixed account guarantee

0.10%

Guaranteed minimum interest rate for the fixed account.

Participation-rate floor

5.00%

Minimum guaranteed participation rate for participation-rate indexed strategies.

Annuitization options

Certain period, Joint life, Single life

Published payout options from the normalized contract facts.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

Surrender schedule

Yr 1

9.3%

Yr 2

8.8%

Yr 3

7.9%

Yr 4

6.9%

Yr 5

5.9%

Yr 6

5%

Yr 7

4%

Yr 8

3%

Yr 9

2%

Yr 10

1%

After

0%

Nursing home waiver, RMD waiver

Documents

product guide

31861Y.pdf

Confidence: highReviewed Apr 6, 2026

Direct link not published — request the document from the carrier.

Carrier Ratings

AM BestA+
FitchA+
S&PA+

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

MNL IncomeVantage Pro currently shows 32 indexed or fixed crediting options, including S&P 500 Index, with 20 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, renewal terms, and fee-bearing strategy variants are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 7% annual cap, 0% annual strategy fee
  • S&P 500 Index: 2.25% monthly point-to-point cap, 0% annual strategy fee
  • S&P 500 Index: 7% annual cap
  • S&P 500 Index: 2.25% monthly point-to-point cap

Income rider language

What to look for before treating the rider as income

GLWB - Level Income is the main income rider listed for this product. Rider terms can affect the tradeoff between future lifetime withdrawals, contract value, beneficiary value, and cost, so the exact state version and rider election should be confirmed before comparing it to annuitization or income-only contracts.

  • 6.3% withdrawal rate
  • RMD friendly

Liquidity terms

Why access rules deserve as much attention as rates

A fixed indexed annuity can preserve more control than an income-only contract, but access is still governed by the surrender schedule, free-withdrawal terms, and waiver language. Those details are where many product comparisons become more meaningful than a simple rate list.

  • 5%/yr free withdrawal
  • 10 surrender years
  • Nursing home waiver
  • RMD waiver

Verification note

Use carrier materials as term evidence, then confirm the current version

Carrier materials such as 31861Y.pdf help explain the contract language behind the data on this page; the latest document activity we see is Apr 8, 2026. For the current brochure, rate sheet, or specimen contract, confirm the state-specific version with the carrier or a licensed financial professional.

  • Rates and rider terms can vary by state and issue age
  • Carrier guarantees depend on claims-paying ability
  • Current contract forms should be confirmed before purchase

Free Comparison Report

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See how MNL IncomeVantage Pro compares for your age, state, premium, and income goals alongside other Midland National fixed indexed annuity options.

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