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Fixed Indexed Annuity

Summit Navigate — Midland National

Midland National

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10%

Free W/D

50

Available jurisdictions

Product data status: October 2, 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.

Product terms

Review Summit Navigate terms

Review published terms and liquidity information. Growth and income illustrations are unavailable for unmodeled crediting selections. Fees, withdrawals and surrender charges can reduce contract value.

Product analyzer
Illustrative — live CANNEX rates as of October 2, 2026; not a projection or guarantee.
Crediting strategy
Compare against
$257,851
Est. value at age 80 (Summit Navigate)
10%/yr
Free withdrawal allowance
Fixed Account — 4.85% Fixed
✦
How crediting works: the fixed rate does not depend on the index; a down year credits 0%, never a loss. A fixed strategy pays a declared rate regardless of the index. What is a cap vs participation? →
Assumptions: illustrative — uses Summit Navigate's published fixed rate (4.85%) as the annual credited rate over 20 years. Not a projection, quote, or guarantee. Live CANNEX rates as of October 2, 2026.

Free Comparison Report

Get a Summit Navigate rate report

See how Summit Navigate 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 Summit Navigate

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

Live product data

Rates as of October 2, 2026, from AdvisorWorld and CANNEX.

A+ AM Best — Superior

A safety-leaning fixed indexed annuity from A-plus-rated Midland National with a choice of two surrender-term variants, no premium minimum, and an annual free-withdrawal allowance — current declared index caps are not on the live feed right now and should be sourced directly from the carrier before purchase.

AdvisorWorld + CANNEX data

Best fit

Buyers who want a top-rated carrier's fixed indexed annuity chassis with the choice between two surrender-term variants, no premium floor, and are willing to confirm current declared caps directly with the carrier.

AM Best

A+ Superior

Surrender options

5 and 7 years

Free withdrawal

10%/yr

Availability

50 jurisdictions (excl. New York)

Minimum premium

$10,000

Featured crediting strategies

Index / strategyRate mechanics

Fixed Account

Fixed Account

5% declared rate

Rate effective Jun 18, 2026

Fixed account

Requested state: TX

1-year term · 5-year surrender · Does not vary by premium

Fixed Account

Fixed Account

4.85% declared rate

Rate effective Jun 18, 2026

Fixed account

Requested state: TX

1-year term · 7-year surrender · Does not vary by premium

+ 10 additional crediting options (Fidelity Multifactor, S&P 500, Index not...)

Product analyst notes

How to think about this contract

Why it can stand out

  • Two surrender-term variants are filed under one product (a shorter and a longer chassis), letting buyers match the commitment to their need-the-money-back timeline rather than being locked into a single chassis length.
  • A-plus rated carrier (A.M. Best) — Midland National is one of the larger U.S. fixed-annuity writers.
  • No premium minimum on the published feed — unusual for an FIA in Midland's Summit family; most Summit filings carry a mid-tier or six-figure premium floor.
  • Annual penalty-free withdrawal allowance plus nursing-home and RMD surrender-charge waivers — meaningful liquidity for an FIA chassis.

What to confirm

  • The live AdvisorWorld feed for this product currently shows rates only for the fixed-rate strategies — annual point-to-point cap rates on recognizable indexes are not published right now. Confirm current declared caps with the carrier before signing; a like-for-like cap comparison will remain unavailable until current cap rates are published.
  • There is no income rider on this contract — Summit Navigate is an accumulation / safety-leaning product, not an income product.
  • Market value adjustment applies on early surrender on top of the surrender-charge schedule.
  • Filed in 50 jurisdictions (every state and DC except New York) — New York residents are not on this contract.
  • Death benefit is the cash surrender value — no enhanced or step-up death benefit on this contract.

Not ideal for

Anyone planning around lifetime income (no rider on this product), anyone who needs a published cap rate to make the buying decision today (the live feed currently shows only the fixed-rate floor), anyone who may need full liquidity inside the surrender window (MVA layers on top), and New York residents (not filed there).

Free Comparison Report

Get a Summit Navigate rate report

See how Summit Navigate 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 (14 strategy and component listings)

These listings show published strategy details and any available rates. Use the filters to narrow by index, term, premium band, or rate type.

Each option below groups its linked index and fixed components. Published factors describe parts of the option, not its complete return.

Composite strategy · Composite strategy

1-year term · Income-rider applicability not specified

TX

Carrier declared rate
7.8%

Rate effective Jun 18, 2026

Component factors are not a complete strategy return. A complete strategy illustration is unavailable.

Additional contract details
  • Annual Performance Credit

5-year surrender period. Confirm contract terms and rider charges before purchase.

Fixed: 5% · 1-yr

Fixed Account

Fixed account · 0% annual strategy fee

Requested state: TXRate effective Jun 18, 20265-yr surrenderDoes not vary by premium

Fixed: 5% · 1-yr

Fixed Account

Fixed account

Requested state: TX5-yr surrenderDoes not vary by premium

Composite strategy · Composite strategy

1-year term · Income-rider applicability not specified

TX

Carrier declared rate
4.6%

Rate effective Jun 18, 2026

Component factors are not a complete strategy return. A complete strategy illustration is unavailable.

Additional contract details
  • Annual Performance Credit

5-year surrender period. Confirm contract terms and rider charges before purchase.

Composite strategy · Composite strategy

5-year term · Income-rider applicability not specified

TX

Component rates are not shown for this request.

Rate effective Jun 18, 2026

Component factors are not a complete strategy return. A complete strategy illustration is unavailable.

Additional contract details
  • Term Participation Rate

5-year surrender period. Confirm contract terms and rider charges before purchase.

Composite strategy · Composite strategy

5-year term · Income-rider applicability not specified

TX

Component rates are not shown for this request.

Rate effective Jun 18, 2026

Component factors are not a complete strategy return. A complete strategy illustration is unavailable.

Additional contract details
  • Term Participation Rate

5-year surrender period. Confirm contract terms and rider charges before purchase.

Composite strategy · Composite strategy

1-year term · Income-rider applicability not specified

TX

Carrier declared rate
8.2%

Rate effective Jun 18, 2026

Component factors are not a complete strategy return. A complete strategy illustration is unavailable.

Additional contract details
  • Annual Performance Credit

7-year surrender period. Confirm contract terms and rider charges before purchase.

Fixed: 4.85% · 1-yr

Fixed Account

Fixed account · 0% annual strategy fee

Requested state: TXRate effective Jun 18, 20267-yr surrenderDoes not vary by premium

Fixed: 4.85% · 1-yr

Fixed Account

Fixed account

Requested state: TX7-yr surrenderDoes not vary by premium

Composite strategy · Composite strategy

1-year term · Income-rider applicability not specified

TX

Carrier declared rate
6.1%

Rate effective Jun 18, 2026

Component factors are not a complete strategy return. A complete strategy illustration is unavailable.

Additional contract details
  • Annual Performance Credit

7-year surrender period. Confirm contract terms and rider charges before purchase.

Composite strategy · Composite strategy

7-year term · Income-rider applicability not specified

TX

Component rates are not shown for this request.

Rate effective Jun 18, 2026

Component factors are not a complete strategy return. A complete strategy illustration is unavailable.

Additional contract details
  • Term Participation Rate

7-year surrender period. Confirm contract terms and rider charges before purchase.

Composite strategy · Composite strategy

7-year term · Income-rider applicability not specified

TX

Component rates are not shown for this request.

Rate effective Jun 18, 2026

Component factors are not a complete strategy return. A complete strategy illustration is unavailable.

Additional contract details
  • Term Participation Rate

7-year surrender period. Confirm contract terms and rider charges before purchase.

Rate not shown · 5-yr

Index not shown

LA

Requested state: TXDoes not vary by premium

Rate not shown · 7-yr

Index not shown

LA

Requested state: TXDoes not vary by premium

Accumulation profile

Accumulation-focused contract

The CANNEX information identifies this product as tax-deferred accumulation. Compare cap, participation rate, fees, liquidity, and surrender terms; use a separate payout-focused contract when guaranteed payout mechanics are required.

Common questions about Summit Navigate

● Can I lose money in Summit Navigate?

A negative index return by itself does not reduce the contract's account value: Summit Navigate credits 0% — the floor — for that indexed period. The account value can still decrease from withdrawals, surrender charges, other contract-specific deductions. In years with no credited interest, those deductions can reduce the account value. Up to 10% 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 10% of your account value each year is penalty-free. The scheduled surrender charges run 7 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 Summit Navigate's crediting strategies compare?

Use "Compare against" in the analyzer to overlay another available Summit Navigate 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

10%/yr

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

Surrender waivers

2

Nursing home waiver, RMD waiver

Death benefit

Standard Death Benefit

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

Declared-rate floor

0.25%

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

Fixed account guarantee

0.25%

Guaranteed minimum interest rate for the fixed account.

Participation-rate floor

10.00%

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

8%

Yr 2

8%

Yr 3

8%

Yr 4

7%

Yr 5

6%

Yr 6

5%

Yr 7

4%

After

0%

Nursing home waiver, RMD waiver

Documents

brochure

Midland National – Summit Navigate® Fixed Index Annuity – Brochure (28949R : REV 09-24).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

Summit Navigate currently shows 14 published rate entries, including components that cannot be modeled as standalone crediting choices, including Fixed Account, with 10 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, and renewal terms are different mechanics and should not be ranked as one simple rate list.

  • Fixed Account: 5% fixed account rate, 0% annual strategy fee
  • Fixed Account: 4.85% fixed account rate, 0% annual strategy fee
  • Fixed Account: 5% fixed account rate
  • Fixed Account: 4.85% fixed account rate

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.

  • 10%/yr free withdrawal
  • 7 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 Navigate® Fixed Index Annuity – Brochure (28949R : REV 09-24).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

Free Comparison Report

Get a Summit Navigate rate report

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

Get my rate report

Related Resources

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