Home » Midland National » MNL Capstone Series

MNL Capstone Series offered by Midland National

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General Information
Type of Product (Rating: )
Indexed Annuity
Product NameMNL Capstone Series
Company Information
Offered byMidland National
Company InfoMidland National is a provider of life insurance and annuity products. Annuity offerings include tr... read more

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Product Ratings and Reviews

18 Percent Surrender

Rating: 
2

In response to an earlier reviewer, the max surrender charge at the beginning of this contract is 18 percent.

Pretty sure this 18 percent fee lasts for more than 1 year.

This is a big number.

Must be at upper range of this product type.

Low Caps on Max Rates

Rating: 
2

Pretty sure that the max rate on the non-guaranteed options for the Capstone series is 3.05.

The cap on the guaranteed minimum rate maxes out at 2 percent.

How can someone justify the costs and fees that come with an indexed product when their upside potential is so limited?

Indexed and fixed products are often marketed under the "safe money" premise.

Given liquidity restrictions and expenses, the products seem to be anything but safe.

Suitability an Issue?

Rating: 
3

I tend to agree with the review on the long surrender period.

Surrender charges are one of the main criticisms of fixed indexed products.

People think they are getting full downside protection with some appreciation potential.

They are, but at a cost.

In the case of this product, that cost is a set of fees that last for 14 years.

The max issue age of this product is 75 years old.

How could someone sell an indexed product to a 74 year old person who would have restrictions on access to and liquidity of these funds for up to 14 years?

Long Surrender Charge Period

Rating: 
3

I know this is a popular fixed indexed product.

How many people can afford to have their funds locked-up for 14 years.

That is the length of time that the surrender period lasts for this series of indexed products from Midland National.

I wonder how many existing customers and prospects know that their funds are subject to surrender fees for a decade plus.

Great products from a solid company, but talk about liquidity issues.

While efforts are made to keep information on this page accurate and updated, the information shown on this page may be variable or out of date. Always check the issuing company's website or other public data listings for the latest information applicable to you as actual information may vary.

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