Summit Edge 5
Midland National
12.25%
Best Cap
10%
Free W/D
50
States
Summit Edge 5 is a fixed index annuity that protects your principal from market losses while offering growth potential linked to market indexes. It's designed for people nearing or in retirement who want stability with upside opportunity.
Free Withdrawal
10%/yr
Available In
50 states
Min Premium
$5,000
Surrender
5 years
Current Rates & Strategies
| Index | Crediting | Cap | Participation | Fixed |
|---|---|---|---|---|
| Fidelity Multifactor Yield Index 5% ER | 2-Year | -- | 215% | -- |
| Fidelity Multifactor Yield Index 5% ER | Annual | -- | 120% | -- |
| S&P 500 Dynamic Intraday TCA Index (USD) ER | 2-Year | -- | 110% | -- |
| S&P 500 Dynamic Intraday TCA Index (USD) ER | Annual | 12.25% | 100% | -- |
| S&P 500 Index | 2-Year | -- | 50% | -- |
| S&P 500 Index | Annual | 8% | 100% | -- |
| S&P 500 Index | Monthly | 1.9% | 100% | -- |
| S&P MARC 5% Excess Return | 2-Year | -- | 145% | -- |
| S&P MARC 5% Excess Return | Annual | -- | 100% | -- |
| Fixed Account | Daily | -- | -- | 2.2% |
Key Features
Annual Reset (Premium Protection)
0% floor on returnsInterest credits lock in each contract year. If the market falls, you don't lose previous gains or your original premium.
Multiple Index Options
6 index choicesChoose from S&P 500, multi-asset risk control, low volatility, ESG-focused, or dividend-focused indexes plus a fixed account option.
Flexible Crediting Methods
9+ crediting optionsSelect how interest is calculated: annual point-to-point, two-year point-to-point, monthly point-to-point, downside protection strategy, or fixed account.
Penalty-Free Withdrawals
10% per year penalty-freeAfter the first contract year, withdraw up to 10% of your accumulation value annually without surrender charges.
Nursing Home Waiver
100% available penalty-freeAccess up to 100% of your accumulation value penalty-free if confined to a qualified nursing care center.
Death Benefit
Guaranteed minimum based on account valueYour beneficiaries receive the accumulation value, which won't decrease due to market downturns.
AV TrueUp (Accumulation Value True-Up)
Premium protection featureIf strategy charges exceed interest credited, you receive a one-time refund at the end of the surrender charge period.
Tax Deferral
Tax-deferred growthYour money grows without annual tax consequences until you take withdrawals or annuity payments.
Highlights
Premium protection: Your money won't decline due to market downturns, with gains locked in annually
Growth potential: Participate in market upside through multiple index and crediting options without direct stock market risk
Flexibility: Access to penalty-free withdrawals, nursing home confinement waiver, and multiple payout options
Tax deferral: Your money grows tax-deferred until withdrawal
Financial strength: Backed by A+ (Superior) rated Midland National Life Insurance Company
Surrender Schedule
Yr 1
9%
Yr 2
8.5%
Yr 3
7.5%
Yr 4
5.5%
Yr 5
4%
After
0%
Nursing home waiver, RMD waiver
Best For
People within 5-10 years of retirement who want to reduce their exposure to market volatility while maintaining growth potential, and who have Social Security and other income sources to supplement their portfolio.
Consider Alternatives If
Those who need immediate access to all their funds without penalties, or investors seeking direct stock market exposure with unlimited upside potential.
Carrier Ratings
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