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Fixed Indexed Annuity

Summit Focus 3

Midland National

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5%

Free W/D

49

Jurisdictions

Product data status: July 3, 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 Summit Focus 3 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 July 3, 2026; not a projection or guarantee.
Crediting strategy
Compare against
$245,838
Est. value at age 80 (Summit Focus 3)
4
Broad-market strategies
S&P 500 Index — 35% Cap (Strategy Fee Included · 3-yr point-to-point · 1% fee)
✦
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 Summit Focus 3's published cap rate (35% 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; 3-year credits are applied only at completed term anniversaries. Not a projection, quote, or guarantee. Live CANNEX rates as of July 3, 2026.

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See how Summit Focus 3 compares for your age, state, premium, and income goals alongside other Midland National fixed indexed annuity options.

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Live rate data

Run live numbers for Summit Focus 3

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

Live product data

Rates as of July 3, 2026, based on the latest AdvisorWorld scan of CANNEX data.

No clean annual cap to headline — strategies are participation-rate with strategy fees

An unusually short (three-year) fee-based / advisory-share fixed indexed annuity from A-plus-rated Midland National, with a fee-bearing participation-rate strategy menu and a six-figure premium minimum — filed in 49 jurisdictions (all states and DC except Idaho and New York).

No qualifying annual cap on a recognizable indexAdvisorWorld + CANNEX data

Best fit

Buyers being offered the fee-based / advisory variant of an FIA inside an advisory account who specifically want the shortest possible surrender lockup and accept the participation-rate-with-strategy-fee crediting model.

AM Best

A+ Superior

Surrender period

3 years

Free withdrawal

5%/yr

Availability

49 jurisdictions (excl. Idaho, New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

25% cap rate

Cap strategy

3-year term · 3-year surrender · $100,000+

Rate varies by premium band.

S&P 500

S&P 500 Index

Strategy Fee Included

35% cap rate

Cap strategy

Strategy fee: 1%/yr

3-year term · 3-year surrender · $100,000+

Rate varies by premium band.

S&P 500

S&P 500 Index

65% participation rate

Participation

3-year term · 3-year surrender · $100,000+

Rate varies by premium band.

S&P 500

S&P 500 Index

Strategy Fee Included

85% participation rate

Participation

Strategy fee: 1%/yr

3-year term · 3-year surrender · $100,000+

Rate varies by premium band.

Fixed Account

Fixed Account

4.3% declared rate

Fixed account

1-year term · 3-year surrender · $100,000+

Rate varies by premium band.

+ 4 additional crediting options (BlackRock...)

Product analyst notes

How to think about this contract

Why it can stand out

  • Very short three-year surrender chassis — the shortest FIA surrender length in Midland's lineup, and unusual for the category overall (most FIAs run five to ten years). Fits a buyer who is unwilling to lock up money for the typical FIA chassis but still wants index participation.
  • A-plus rated carrier (A.M. Best) — Midland National is one of the larger U.S. fixed-annuity writers.
  • 'Focus' filing in Midland's Summit family signals the fee-based / advisory variant typically used in advisory accounts rather than commission-based ones — confirm with the advisor whether this is the correct share class for the platform.
  • Nursing-home and RMD surrender-charge waivers are in the contract — penalty access for those specific life events does not require selling the contract entirely.

What to confirm

  • The indexed strategy menu on this product is built around fee-bearing participation-rate strategies — there is no clean S&P 500 annual point-to-point cap on the live feed. The 'high' participation rates these strategies publish are gross of the strategy fee, so the buyer's net credit is materially lower than the row advertises.
  • There is no income rider on this contract — Summit Focus 3 is a short-surrender accumulation product.
  • Free-withdrawal allowance on this filing is narrower than the more common standard for accumulation FIAs — liquidity is tighter on this contract than on most accumulation FIAs; the live allowance is shown on this page.
  • Premium minimum is published on the live feed and reflects a six-figure floor — positioned for the high-balance advisory market.
  • Market value adjustment applies on early surrender on top of the surrender-charge ladder. On a short chassis the surrender window is brief but early-year penalties stay meaningful; the year-by-year ladder is shown on this page.
  • Filed in 49 jurisdictions (every state and DC except Idaho and New York) — residents of either state are not on this filing.
  • Death benefit is the accumulation value with no rollup or step-up.

Not ideal for

Anyone planning around lifetime income (no rider on this product), anyone shopping below the published premium minimum, anyone who wants a clean recognizable-index cap to ground crediting comparisons, anyone who needs broader annual penalty-free liquidity than the live filing publishes, and residents of Idaho or New York (not filed in either state).

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All crediting strategies

View rate listings (14 rows)

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

Fixed: 4.3% · 1-yr

Fixed Account

fixed

3-yr surrender$100,000+

Par: 360% · 3-yr

BlackRock ESG U.S. 5% Index ER

Strategy Fee Included · participation

3-yr surrender$100,000+

Par: 260% · 3-yr

BlackRock ESG U.S. 5% Index ER

participation

3-yr surrender$100,000+

Par: 85% · 3-yr

S&P 500 Index

Strategy Fee Included · participation

3-yr surrender$100,000+

Par: 65% · 3-yr

S&P 500 Index

participation

3-yr surrender$100,000+

Cap: 35% · 3-yr

S&P 500 Index

Strategy Fee Included · cap

3-yr surrender$100,000+

Cap: 25% · 3-yr

S&P 500 Index

cap

3-yr surrender$100,000+

Fixed: 3.9% · 1-yr

Fixed Account

fixed

3-yr surrenderUp to $99,999.99

Par: 335% · 3-yr

BlackRock ESG U.S. 5% Index ER

Strategy Fee Included · participation

3-yr surrenderUp to $99,999.99

Par: 225% · 3-yr

BlackRock ESG U.S. 5% Index ER

participation

3-yr surrenderUp to $99,999.99

Par: 75% · 3-yr

S&P 500 Index

Strategy Fee Included · participation

3-yr surrenderUp to $99,999.99

Par: 60% · 3-yr

S&P 500 Index

participation

3-yr surrenderUp to $99,999.99

Cap: 33% · 3-yr

S&P 500 Index

Strategy Fee Included · cap

3-yr surrenderUp to $99,999.99

Cap: 22% · 3-yr

S&P 500 Index

cap

3-yr surrenderUp to $99,999.99

Income riders

Accumulation-focused — no income rider

This contract is designed for tax-deferred accumulation, not guaranteed lifetime income. No GLWB rider was returned because none is part of the contract design — compare against other accumulation FIAs on cap, participation rate, and surrender terms rather than lifetime income.

Common questions about Summit Focus 3

● Can I lose money in Summit Focus 3?

A negative index return by itself does not reduce the contract's account value: Summit Focus 3 credits 0% — the floor — for that indexed period. The account value can still decrease from applicable rider fees, Performance Rate Rider or other strategy charges, administrative charges, withdrawals, surrender charges, or 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.

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

Up to 5% of your account value each year is penalty-free. The surrender period runs 3 years; after that you reach full liquidity. The Liquidity tab of the analyzer shows the year-by-year surrender charge.

● How do Summit Focus 3's crediting strategies compare?

Use "Compare against" in the analyzer to overlay another current Summit Focus 3 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

Accumulation Value Death Benefit

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

Cap-rate floor

0.50%

Minimum guaranteed cap for cap-based indexed strategies.

Fixed account guarantee

0.10%

Guaranteed minimum interest rate for the fixed account.

Participation-rate floor

10.00%

Minimum guaranteed participation rate for participation-rate indexed strategies.

Annuitization options

Single and joint

Contract conversion options should be confirmed before purchase.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

Surrender schedule

Yr 1

8%

Yr 2

8%

Yr 3

7%

After

0%

Nursing home waiver, RMD waiver, Surrender waivers

Documents

brochure

Midland National – Summit Focus® 3 Fixed Index Annuity – Brochure (34537R : REV 03-24).pdf

Confidence: highReviewed Apr 6, 2026

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

Carrier Ratings

AM BestA+
S&PA+
S&PA+

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

Summit Focus 3 currently shows 14 distinct indexed or fixed crediting choices across 17 current rate listings, including S&P 500 Index, with 4 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, renewal terms, and fee-bearing rider variants are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 25% 3-year cap
  • S&P 500 Index: 35% 3-year cap, Fee-bearing option, 1% annual strategy fee
  • S&P 500 Index: 22% 3-year cap
  • S&P 500 Index: 33% 3-year cap, Fee-bearing option, 1% annual strategy fee

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
  • 3 surrender years
  • Nursing home waiver
  • RMD waiver

Verification note

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

Carrier materials such as Midland National – Summit Focus® 3 Fixed Index Annuity – Brochure (34537R : REV 03-24).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

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