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Life Health > Annuities

Rider adds living benefit

By Staff Writer

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Midland National has announced the availability of a living benefit rider that can be added to any of the company’s fixed annuities. The Guaranteed Income Provider provides an alternative to annuitizing a contract. It allows clients to receive guaranteed lifetime withdrawals during the accumulation phase.

Other highlights of the new benefit include the following:

  • Up to 8 percent withdrawals for life
  • The ability to start and stop payments according to policyholder wishes
  • Annual step-up feature
  • Available joint life payouts
  • 4 percent bonus each year a withdrawal is not taken

For more information, call (877) 586-0241.