Summit Navigate
Midland National
10%
Free W/D
50
States
The Summit Navigate is a fixed index annuity that protects your principal while offering growth through annual performance credits and a term-end participation credit. It's designed for retirees concerned about market volatility who want both security and upside potential.
Free Withdrawal
10%/yr
Available In
50 states
Min Premium
$10,000
Surrender
7 years
Current Rates & Strategies
| Index | Crediting | Cap | Participation | Fixed |
|---|---|---|---|---|
| Fidelity Multifactor Yield Index 5% ER | 5Y | -- | 100% | -- |
| Fidelity Multifactor Yield Index 5% ER | 7Y | -- | 100% | -- |
| Fidelity Multifactor Yield Index 5% ER | Annual | -- | 100% | -- |
| S&P 500 Dynamic Intraday TCA Index (USD) ER | 5Y | -- | 100% | -- |
| S&P 500 Dynamic Intraday TCA Index (USD) ER | 7Y | -- | 100% | -- |
| S&P 500 Dynamic Intraday TCA Index (USD) ER | Annual | -- | 100% | -- |
| Fixed Account | Annual | -- | -- | -- |
| Fixed Account | Daily | -- | -- | 4.05% |
Key Features
Annual Performance Credits (APC)
Declared at issueInterest credited each contract anniversary (except final year of initial term) if the underlying index performs positively. Rate is set at issue and locked for the initial term.
Term Participation Credit (TPC)
100% of index growthAdditional interest credit applied at the end of your initial term based on total index growth over the entire term. Calculated as 100% of the index growth from issue date to final year average.
Principal Protection
100% premium protectionYour initial premium is guaranteed never to decrease due to market declines, regardless of market conditions.
Index Options
2 managed indicesChoose between Fidelity Multifactor Yield Index 5% ER (multi-asset blend targeting 5% volatility) or S&P 500 Dynamic Intraday TCA Index (trend-following with 15% volatility target).
Fixed Account Option
Guaranteed rate at issueAllocate part or all of your premium to a fixed account earning a guaranteed declared rate, independent of market performance.
Penalty-Free Withdrawals
10% annuallyAfter year one, withdraw up to 10% of your beginning-of-year accumulation value annually without surrender charges.
Tax Deferral
Tax-deferred growthInterest credits and growth compound tax-free until you take a withdrawal, allowing more funds to work for you.
Highlights
Layered crediting strategy combines annual performance credits plus a term participation credit for dual growth opportunities
Principal protection—your initial premium is never lost due to market declines
Interest credits are locked in each year, providing stability with growth potential
Two index options (Fidelity Multifactor Yield and S&P 500 Dynamic Intraday) with volatility management
Tax-deferred growth allows more funds to work for you until withdrawal
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
Best For
Retirees and near-retirees who want principal protection from market declines while pursuing growth through index-linked returns and are comfortable with a 5- or 7-year initial commitment.
Consider Alternatives If
Investors who need frequent access to their full account balance without penalties, or those seeking direct stock market exposure or higher growth caps.
Carrier Ratings
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