Summit Edge 7
Midland National
12.75%
Best Cap
10%
Free W/D
50
States
The Summit Edge 7 is a fixed index annuity that offers growth potential tied to market indices while protecting your principal from market downturns. It's designed for retirees or near-retirees who want portfolio stability without direct stock market exposure.
Free Withdrawal
10%/yr
Available In
50 states
Min Premium
$5,000
Surrender
7 years
Current Rates & Strategies
| Index | Crediting | Cap | Participation | Fixed |
|---|---|---|---|---|
| Fidelity Multifactor Yield Index 5% ER | 2-Year | -- | 160% | -- |
| Fidelity Multifactor Yield Index 5% ER | Annual | -- | 115% | -- |
| S&P 500 Dynamic Intraday TCA Index (USD) ER | 2-Year | -- | 90% | -- |
| S&P 500 Dynamic Intraday TCA Index (USD) ER | Annual | 12.75% | 100% | -- |
| S&P 500 Index | 2-Year | -- | 55% | -- |
| S&P 500 Index | Annual | 8.25% | 100% | -- |
| S&P 500 Index | Monthly | 1.95% | 100% | -- |
| S&P MARC 5% Excess Return | 2-Year | -- | 160% | -- |
| S&P MARC 5% Excess Return | Annual | -- | 105% | -- |
| Fixed Account | Daily | -- | -- | 2.55% |
Key Features
Premium Protection
0% minimum annual creditYour initial investment and credited interest are never reduced by market downturns; a 0% floor prevents losses.
Annual Reset
Gains locked in annuallyInterest earned each year is locked in permanently, so subsequent market declines cannot reduce previous gains.
Multiple Index Options
5 index options availableChoose from S&P 500, low-volatility, multi-asset, ESG, and dividend-focused indices to match your market outlook.
Flexible Crediting Methods
8 crediting method combinationsAnnual point-to-point, two-year point-to-point, monthly point-to-point, and downside protection strategies with participation rates or caps.
Penalty-Free Withdrawals
10% annual withdrawal limitAccess up to 10% of your beginning-of-year value annually without surrender charges starting in year two.
AV TrueUp Protection
Premium protection at term endIf strategy charges exceed interest credits over your term, you receive a one-time refund at the end of the surrender charge period.
Nursing Home Waiver
100% penalty-free access availableAccess up to 100% of your accumulation value penalty-free if confined to a qualified nursing care center.
Death Benefit
Based on account valueYour beneficiary receives the accumulation value plus any interest credits, providing legacy potential without market risk.
Tax Deferral
Tax-deferred growthInterest credits grow tax-deferred until withdrawals are taken during retirement.
Fixed Account Option
Declared rate guaranteedAllocate a portion to a guaranteed fixed rate for additional stability and predictable income.
Highlights
Premium protection against market downturns with a 0% floor—you never lose your initial investment due to stock market losses
Growth potential linked to market performance through multiple index options without directly owning stocks
Annual reset feature locks in gains each year, so market declines can't erase previous gains
Multiple crediting methods and index choices let you customize your strategy based on market outlook
Penalty-free withdrawals of up to 10% annually after year one, plus nursing home waiver and AV TrueUp protection
Surrender Schedule
Yr 1
9%
Yr 2
8.5%
Yr 3
7.5%
Yr 4
6.5%
Yr 5
5.5%
Yr 6
4.5%
Yr 7
3%
After
0%
Nursing home waiver, RMD waiver
Best For
Individuals age 0-85 approaching or in retirement who want portfolio growth tied to market indices while protecting against principal loss and prefer guaranteed insurance company backing.
Consider Alternatives If
Those needing immediate liquidity or high current income, individuals with a high risk tolerance seeking maximum market exposure, or those uncomfortable with the 7-year surrender charge period.
Carrier Ratings
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