Submitted by Anonymous on
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.
Anyone know what the industry standard is for surrender charges for fixed indexed products? I would imagine that 14 years has to be towards the upper end of the spectrum.
Must be high commissions on this product that are funded by the surrender fees.
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