Midland National Life Insurance Company has rolled out the Vector Series Variable Annuity contract.

The new VA contract, aimed at the registered investment advisor market, gives holders the ability to use a Web-based trading system to trade 5 contract funds as often as twice a day and to be active traders of 44 other funds from companies such as Profunds, Rydex and DireXion, according to Midland, West Des Moines, Iowa, which is a unit of Sammons Financial Group, Chicago.

The contract offers a rider that gives purchasers to the ability to shorten the surrender charge schedule to 4 years, 3 years or 0 years, Midland says.