We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (21,890)
  • Industry Conferences (2)
  • Industry Job Openings (36)
  • Moore on the Market (472)
  • Negative Media (144)
  • Positive Media (73)
  • Sheryl's Articles (823)
  • Wink's Articles (371)
  • Wink's Inside Story (280)
  • Wink's Press Releases (127)
  • Blog Archives

  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • September 2008
  • May 2008
  • February 2008
  • August 2006
  • Midland Retirement Distributors® Launches Summit Journey℠ 10

    April 2, 2024 by Midland National Life Company

     

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–Midland Retirement Distributors, a division of Sammons Institutional Group®, Inc., and member company of Sammons Financial Group, has launched Summit Journey℠ 10, a new fixed index annuity. In a world of financial uncertainty, clients are seeking ways to create guaranteed income streams for retirement, protect their premium against market downturns, and allow opportunities for upside potential. The Summit Journey focuses on meeting these specific client expectations.

    An “early income ally” in retirement

    Issued by Midland National® Life Insurance Company, the Summit Journey offers a built-in guaranteed lifetime withdrawal benefit (GLWB) rider providing income payments clients cannot outlive1. The Summit Journey allows more flexibility of a client’s income stream, helping them to financially prepare for the many challenges faced in retirement. It also allows the opportunity to both grow and protect premium from market downturns.

    With no waiting period before taking income payments, clients can start income payments right away if they’re age 50 or older2. Payments can also be started or stopped at any time, with the choice of a level or increasing lifetime payment amount (LPA).

    “The Summit Journey is an excellent option for those in or nearing retirement who want to protect their hard-earned nest egg, while also providing opportunities to capture some of the upside of the market,” said Greg Bonzagni, Vice President and Head of Distribution at Sammons Institutional Group. “The flexibility to turn on income early and choose when to start and stop payments gives clients the control they seek in retirement.”

    Helping clients reach new destinations

    The Summit Journey fixed index annuity offers key client benefits, including:

    • Income stream flexibility with the ability to start income now or later. Provides a guaranteed income stream that can’t be outlived starting whenever a client needs it, without a waiting period3.
    • A way to help prepare for costly care down the road. Financially prepares clients for potential mobility issues later in life with the Lifetime Payment Amount (LPA) multiplier4.
    • Premium protection and upside growth potential. Allows for market-linked growth potential with full premium protection from market downturns5.

    GLWB rider charge is 1.25% of the GLWB value and is deducted as a partial surrender from the accumulation value, while the rider is active, on each contract anniversary.
    Withdrawals taken prior to age 59½ may be subject to IRS penalties. For purposes of this rider, “income” refers to the contractual guarantee provided by election of LPAs. It is not the same as and does not refer to interest credited to the annuity contract. Consult your own tax professional regarding tax treatment of LPAs, which will vary according to your individual circumstances.
    3 Withdrawals taken prior to age 59½ may be subject to IRS penalties. Client must be age 50 or older to begin taking income payments.
    The LPA multiplier can be paid out for a maximum of five annual payments as long as the client continues to meet the requirements on each payment date. Refer to the product brochure for details and limitations.
    A surrender during the surrender charge period could result in a loss of premium. Surrender charge structure may vary by state.

    “This ‘early income ally’ in retirement is an attractive option for those worried about income now and the potential need for additional income later in life,” added Bonzagni. “We’re excited to bring this new annuity to the marketplace to give consumers another option to take control of their financial futures.”

    About Sammons® Financial Group, Inc.

    The companies of Sammons Financial Group® help families and businesses by empowering futures and changing lives. Sammons Financial Group is employee-owned with member companies that are among the most enduring and stable in the financial services industry. Our companies include Midland National® Life Insurance Company (including Sammons® Corporate Markets); North American Company for Life and Health Insurance®Sammons Institutional Group® (including Midland Retirement Distributors® and Sammons Retirement Solutions®) and Beacon Capital Management, Inc. Sammons Financial Group is Midwest-based, with offices in Iowa, Illinois, North Dakota, Ohio, and South Dakota.

    The term financial professional is not intended to imply engagement in an advisory business in which compensation is not related to sales. Financial professionals that are insurance licensed will be paid a commission on the sale of an insurance product.

    Neither Midland National® Life Insurance Company, Sammons Institutional Group®, Inc., nor any financial professionals acting on its behalf, should be viewed as providing legal, tax or investment advice.

    Fixed index annuities are not a direct investment in the stock market. They are long-term insurance products with guarantees backed by the issuing company. They provide the potential for interest to be credited based in part on the performance of specific indices, without the risk of loss of premium due to market downturns or fluctuation. Although fixed index annuities guarantee no loss of premium due to market downturns, deductions from the accumulation value for optional benefit riders or strategy fees or charges associated with allocations to enhanced crediting methods could exceed interest credited to the accumulation value, which would result in loss of premium. They may not be appropriate for all clients. Interest credits to a fixed index annuity will not mirror the actual performance of the relevant index.

    The Summit Journey℠ 10 Fixed Index Annuity is issued on form ICC18-MC400A.MVA / MC400A (base contract), ME100B / ICC18-ME100B, ME101A / ICC18-ME101A, ME102A / ICC18-ME102A, ME103A / ICC18-ME103A, ME105A / ICC18-ME105A, ME106A / ICC18-ME106A, ME107A / ICC18-ME107A, ME109A / ICC18-ME109A, ME111A / ICC18-ME111A, ME129A / ICC23-ME129A, AR151A04 (riders/endorsements) or appropriate state variation. This product, its features, and riders may not be available in all states.

    Securities distributed by Sammons Financial Network®, LLC., member FINRA. Insurance products are issued by Midland National® Life Insurance Company (West Des Moines, IA). Sammons Institutional Group®, Inc. provides administrative services. Sammons Financial Network®, LLC., Midland National® Life Insurance Company, and Sammons Institutional Group®, Inc. are wholly owned subsidiaries of Sammons® Financial Group, Inc. Midland Retirement Distributors® is a division of Sammons Institutional Group®, Inc.

    NOT FDIC/NCUA INSURED, MAY LOSE VALUE INCLUDING LOSS OF PREMIUM, NO BANK/CU GUARANTEE, NOT A DEPOSIT, NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY.

    Contacts

    Hillary Carlson
    hcarlson@sfgmembers.com
    Office: (515) 221-7426

     

     

     

     

    Wink’s Moore on the Market: Gregory J Bonzagni at Midland National Life Insurance Company is bragging on their new indexed annuity.

    Summit Journey 10 is all about income. The GLWB offers a 7.5% simple interest rollup and a choice of level or increasing payments. An LTC kicker seals the deal on this “income now” product.

    Interested in hearing more? Check out all the deets on Wink, Inc.‘s AnnuitySpecs tool. -sjm

    Originally Posted at Business Wire on March 26, 2024 by Midland National Life Company.

    Categories: Industry Articles
    currency