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Surrender charges apply to any withdrawal that exceeds the penalty-free interest amount. Charges vary based on term length and decrease each year. For 3-, 5-, and 7-year terms, charges range from 9% in year 1 to as low as 3% in year 7. Charges restart upon renewal for a new term. In California, separate reduced charges apply. Withdrawals may also be subject to a market value adjustment, which can either increase or reduce the surrender amount depending on prevailing interest rates.

Nursing Home Confinement Waiver (included; state availability varies).

If the owner/annuitant dies prior to annuitization, beneficiaries receive a death benefit with no surrender charges and no MVA applied at death. The death benefit is payable as a lump sum or a series of payments and equals the greater of the accumulation value or the minimum surrender value as of the date of death.

Nursing Home Confinement Waiver (included at no additional charge; not available in all states): After the first contract year, and while rider conditions are met, up to 100% of the accumulation value may be available penalty-freefor confinement to a qualified nursing care center (as defined in the rider). If 100% is taken, it is treated as a full surrender and the contract terminates.

Beginning in the second contract year, the penalty-free withdrawal amount is equal to the interest earned in the prior contract year. By current company practice, a penalty-free withdrawal in the first contract year equal to interest earned in the first year may be allowed, but this is not contractual and can be changed or removed. Systematic interest withdrawals may be taken monthly, quarterly, semi-annual, or annually, and must be at least $50 each. Withdrawals above the penalty-free amount may be subject to surrender charges and MVA, and withdrawals before age 59½ may incur an IRS 10% penalty.

, Traditional IRAs, Roth IRAs, and SEP IRAs. 

LiveWell Guarantee Max is a Single Premium Multi-Year Guaranteed Annuity where the client makes a one-time premium payment and selects a 3-, 5-, or 7-year guarantee period. The contract credits a declared fixed interest rate (annual effective rate) and compounds with interest credited daily for the duration of the selected guarantee period.

At the end of the initial guarantee period, the owner has a 30-day election window to elect a lump sum, elect income payments, renew into an available guarantee period (as long as it does not extend past maturity), or surrender/transfer without surrender charges or MVA (taxes/penalties may apply). If no election is made within the 30 days, the contract will automatically renew to an available subsequent guarantee period as described in the contract, with a new guarantee-period interest rate and new MVA applying.

The surrender value equals the accumulation value, subject to MVA, minus applicable surrender charges and state premium taxes (if applicable). The surrender value will never be less than the minimum nonforfeiture required by state law at time of issue in the delivery state. A surrender during the surrender charge period could result in loss of premium.

 is a multi-year guaranteed annuity issued by Midland National® Life Insurance Company, a member of Sammons® Financial Group. This single premium annuity offers a fixed interest rate guaranteed for a selected term of 3, 5, or 7 years. Designed for individuals seeking a conservative retirement solution, it provides tax-deferred growth, penalty-free partial withdrawals, and a death benefit without surrender charges or market value adjustments. The product aims to deliver predictable growth and financial stability during retirement planning.

Withdrawals exceeding the penalty-free amount, or a full surrender during the guarantee period, are subject to surrender charges and may also incur an MVA. Charges decline each year until reaching 0% at the end of the term. All funds become fully penalty-free at the end of the guarantee period or during the 30-day renewal window. Surrender charge structures may vary by state, and the brochure notes that a surrender during the guarantee period could result in a loss of premium.

Nursing Home Confinement Waiver rider is described as automatically included at no additional charge (state availability applies).  

If the owner dies before annuitization, beneficiaries receive the accumulation value less any applicable state premium taxes, payable as a lump sum or installments.  

Nursing Home Confinement Waiver (not available in South Dakota):

 After the first contract anniversary, if the annuitant becomes confined to a qualified nursing care center (as defined in the rider), up to 100% of accumulation value may be available without surrender charge and without MVA (subject to rider terms; cannot be confined at issue).

After the first contract anniversary, owners may take a penalty-free withdrawal equal to the interest earned in the prior contract year. Withdrawals above that amount may be subject to surrender charges and a Market Value Adjustment (MVA). By current company practice (not contractual), the owner may also take an interest-only penalty-free withdrawal in the first contract year, and may elect systematic interest payments (monthly/quarterly/semi-annual/annual) that must be at least $50 each.  

MNL Guarantee Pro is a Single Premium Deferred Annuity (SPDA) that credits a fixed interest rate for the entire duration of the selected 3-, 5-, or 7-year guarantee period. The owner makes a one-time premium payment and selects a term, during which interest grows tax-deferred. After the first contract anniversary, the policy allows penalty-free withdrawals equal to the interest earned in the prior contract year, while withdrawals above this amount may be subject to surrender charges and a Market Value Adjustment (MVA). At the end of the guarantee period, a 30-day window provides flexibility to renew into a new 3-, 5-, or 7-year term (subject to the contract maturity date), elect a payout option, or withdraw the accumulation value without surrender charges or MVA.

At the end of the initial guarantee period, there is a 30-day renewal window to renew (3/5/7 years, subject to maturity date), elect a payout option, or withdraw the accumulation value. No surrender charges or MVA apply within the window. After the window, a new guarantee period, rate, surrender charge schedule, and MVA apply. If no election is made, the contract automatically renews as described in the contract.  

The surrender value equals the accumulation value, subject to market value adjustment, less applicable surrender charges and applicable state premium taxes, and will never be less than the minimum requirements set forth by state law. The brochure describes a minimum surrender value that will never be less than 87.5% of all premiums less any surrenders (after MVA or reduction for surrender charges) accumulated at a rate not less than the rate required or otherwise directed by the annuity contract.

 is a single-premium Multi-Year Guaranteed Annuity (MYGA) issued by Midland National® Life Insurance Company that provides fixed, tax-deferred interest growth and full principal protection across 3-, 5-, and 7-year guarantee periods. It offers contractually guaranteed rates for the selected term, simple premium-band pricing (higher rates for $100,000+), and straightforward access features designed for conservative clients seeking stable accumulation and predictable returns.

Withdrawals in excess of the free amount (the prior-year interest) or surrendering the contract before the end of the 3-, 5-, or 7-year surrender charge period may result in an early withdrawal charge and may also incur an MVA. The brochure describes the early withdrawal charge as 3% during the surrender-charge period, and explains that the MVA can either increase or decrease the surrender value. All funds become fully penalty-free at the end of the guarantee period or during the renewal election window described above.  ￼

Nursing home confinement waiver is included at no additional cost.

 If the owner dies before annuitization, beneficiaries receive the greater of the annuity’s contract value or the minimum surrender value, payable as a lump sum or in installments.

After the first contract year, if the owner becomes confined to a qualified nursing care center, up to 100% of the contract value may be withdrawn without surrender charge or MVA, subject to eligibility requirements. The owner cannot be confined at issue; this benefit is provided by a waiver rider included with the contract when issued.

After the first contract anniversary, owners may take a penalty-free withdrawal equal to the interest earned in the prior contract year. If withdrawals exceed the interest earned in a year, a surrender charge and MVA may apply.

Oak ADVantage℠ is a Single Premium Deferred Annuity (SPDA) that credits a fixed interest rate for the entire duration of the selected guarantee period (3, 5, or 7 years). The owner makes a one-time premium payment and interest grows tax-deferred. After the first contract anniversary, the policy allows penalty-free withdrawals equal to the interest earned in the prior contract year; withdrawals above that amount may be subject to surrender charges and a Market Value Adjustment (MVA). At the end of the guarantee period, a 30-day window provides flexibility to renew, surrender, or annuitize, and if no election is made, the contract automatically renews into the same guarantee period (subject to the maturity-date limitation noted in the materials).  ￼

At the end of the chosen guarantee period, the contract provides a 30-day election window to take the value (free from penalties), renew for another 3-, 5-, or 7-year guarantee period, or convert it to an income stream through annuitization. If no election is made, the contract automatically renews into the same guarantee period (subject to the restriction that you cannot renew into a period that extends beyond the maturity date). 

The contract includes an MVA that may increase or decrease the annuity’s surrender value depending on changes in the MVA external index rate.

 is a single-premium multi-year guaranteed annuity (MYGA) issued by Midland National® Life Insurance Company that provides fixed, tax-deferred interest growth and principal protection across 

. It is built for conservative accumulation by locking in a guaranteed rate for the selected term, shielding contract value from market downturns, and offering renewal flexibility at the end of each guarantee period.

Midland National (SRS) – LiveWell Guarantee Max

Midland National – MNL Guarantee Pro

Midland National – Oak ADVantage