What is the minimum guaranteed surrender value for Midland OAK ADVantage?

The Oak ADVantage annuity is a contract between the owner and Midland National, where a lump-sum premium earns a guaranteed interest rate for a selected period. During and after the guarantee period, owners have the flexibility to renew, annuitize, or withdraw funds. The contract includes standard features like death benefits and penalty-free partial withdrawals, along with an MVA (market value adjustment) provision that impacts surrender values. It’s best suited for individuals seeking safe, long-term accumulation without additional premium contributions.

What is the minimum premium amount for Midland OAK ADVantage?

The minimum premium amount is $50,000.

What is the maximum issue age for Midland OAK ADVantage?

The maximum issue age is 90 years.

What is the current interest rate for Midland OAK ADVantage?

The current interest rate is 5.15%.

What is the surrender charge schedule for Midland OAK ADVantage?

Surrender charges are level and apply during the 3-, 5-, or 7-year surrender charge period. The charge is 3.00% in each contract year of the selected period. A surrender during this period could result in a loss of premium. These charges apply to withdrawals exceeding the penalty-free allowance and are accompanied by a Market Value Adjustment (MVA), which can increase or decrease the payout depending on interest rate movement. The MVA formula and limits are detailed in the contract and vary by state. No surrender charges apply during the 30-day window after each guarantee period or for RMDs.

What are the best rates available for Midland OAK ADVantage?

The best available rate is 5.40% for a 7 year term.

Midland National

Midland OAK ADVantage

About this product

The Oak ADVantage is a single-premium, fixed annuity contract offering guaranteed interest rates for 3, 5, or 7 years. Designed for conservative investors, it allows for dependable growth and tax-deferred accumulation, making it suitable for those approaching retirement or seeking protection from market downturns. The annuity is issued by Midland National Life Insurance Company and includes flexible renewal options, legacy benefits, and limited liquidity features during the surrender period.

Available Rates

Rates are based on current simulation settings with premium amount $100,000.00

3 Years	5.15%
5 Years	5.40%
7 Years	5.40%

Available Guarantee Periods

Rates are based on current simulation settings with premium amount $100,000.00

$50,000.00 - $1,000,000.00

5.15%

Features
Maximum Issue Age	90 years

Lifetime Income Details

Payout Options

Annuitization

Lump Sum Withdrawal

Additional Options

Actual payout options may vary by insurance carrier and specific products. Common alternatives include:

Life Income Only: Payments for the rest of your life, stopping upon death
Period Certain: Guaranteed payments for a specific time period (5, 10, 15, or 20 years)
Life with Period Certain: Lifetime payments with a minimum guaranteed period
Joint Life: Payments continue for both you and your spouse's lifetimes
Systematic Withdrawal: Regular withdrawals of a specified amount or percentage