WEST DES MOINES, Iowa--(BUSINESS WIRE)--Capital Income®, Midland National’s first commission-free fixed index annuity (FIA), was named top fee-based fixed index annuity in 2023, according to LIMRA1.
In 2021, Midland National Life Insurance Company, a Sammons Financial Group member company, introduced a dedicated team, Midland Advisory, which is focused on designing annuity solutions tailored for registered investment advisors (RIAs) to offer their clients. Since the launch, Capital Income has consistently ranked high as a strong indexed annuity choice for advisors.
In addition to earning the 2023 overall top spot from LIMRA, Midland National performed well in fourth quarter 2023 sales. Notable results from the Q4 2023 Wink Report include:
- No. 3 Deferred Annuity Companies – RIA Distribution
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Deferred Annuity for RIA Distribution & Fee-Based Overall
- No. 1 Capital Income FIA
- No. 5 Oak ADVantage 7-year MYGA
- No. 6 Oak ADVantage 5-year MYGA
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Indexed Annuity Products – RIA Distribution
- No. 1 Capital Income FIA
- No. 9 IndexMax ADV 5-year
“We’ve used our longstanding expertise in the annuity space to create products that work with the business models of modern RIAs,” said Cooper Sinclair, head of sales and business development for Midland Advisory. “Earning these high marks signals to us and the market that we’re on the right track. We will continue to innovate and develop products to help secure the financial futures of our customers.”
Midland National Capital Income® is an advisory fee-friendly solution that can provide clients with strong lifetime income payout rates. The solution also offers a unique health-activated income multiplier feature2 which can double income payments for up to five years to help prepare for increased personal care costs. Capital Income offers this feature through an income rider creating guaranteed lifetime income to help safeguard retirement lifestyles.
Since launching in 2020, Capital Income has played a key role in Midland National® Life Insurance Company’s committed growth strategy targeting the registered investment advisor (RIA) channel. The annuity’s performance as the top-selling indexed annuity in the RIA distribution last quarter is a testament to its relevance to advisors with clients seeking strong lifetime income.
If an advisor identifies a need for their client but does not have an insurance license, Capital Income is available through outsourced insurance desks that can act as agents of record enabling the advisor to maintain discretionary authority over the client’s account. Learn more at MidlandAdvisory.com.
About Midland National Life Insurance Company
For more than 115 years, Midland National® Life Insurance Company has been a financial services industry leader, crediting the company’s strength to its commitment to stability, innovation, and dedicated customer service. Midland National is a member of Sammons® Financial Group, a subsidiary of Sammons Enterprises, Inc.
1 Q4 2023 LIMRA LOMA US Individual Annuity Industry Sales Report
2 Known as ADL Benefit Rider in the contract. See contract for full ADL definitions and additional conditions required to elect it. THE ADL BENEFIT RIDER (ALSO KNOWN AS THE HEALTH-ACTIVATED INCOME MULTIPLIER) IS NOT LONG TERM CARE INSURANCE NOR IS IT INTENDED TO REPLACE LONG TERM CARE INSURANCE.
