West Des Moines, IA – August 4, 2014 –Sammons
Retirement Solutions® Inc., which provides simple, innovative and straightforward
solutions today announced changes and enhancements to the LiveWell® Variable
Annuity, issued by Midland National® Life Insurance Company, that increases fund options and adds a
new innovative endorsement that offers investors a way to reduce long-term
tax changes, we have seen a renewed interest in tax deferred investing as a crucial
way to accumulate assets for maximum retirement preparedness. Advisers are
always looking for ways to help clients gain greater control over their tax
planning strategies,” said Bill Lowe, President of Sammons Retirement
enhanced LiveWell Variable Annuity offers the potential for long-term tax-deferred*
asset growth, legacy protection and now, a choice in fee structure. The LiveWell®
Value Endorsement lowers fees by offering clients the option to reduce their separate
account annual expenses by 0.20% (to 1.15%) in exchange for a surrender
schedule. The LiveWell Variable Annuity with Value Endorsement allows advisers
to create an individual strategy for each client based on their time horizon,
risk tolerance and tax deferral goals. Additionally, the LiveWell Variable
Annuity offers a return of premium death benefit*.
“We are always listening to our advisers and have
worked to add ever-popular industry heavyweights American Funds and Oppenheimer
Funds to our platform,” said Greg Bonzagni, National Sales Manager. “We
continue to strive to deliver a vast array of compelling options
that cover the full investment spectrum and give advisers the necessary choices
to build individual investment strategies for their clients.”
The addition of American Funds, Alps, Oppenheimer
Funds and Transparent Value allows the LiveWell Variable Annuity to offer more
than 135 investment options from 28 money managers.
investment of $10,000 is required to open a LiveWell Variable Annuity. The
product is available for Non-Qualified Assets, Traditional IRAs, Roth IRAs,
Inherited IRAs and SEP-IRAs as well as rollovers or transfers from qualified
plans. The offering has no surrender charge, has separate account annual
expenses of 1.35% and comes with a return of premium death benefit.* Clients
can choose to reduce fees further by adding the Optional LiveWell Value
Endorsement in exchange for a surrender schedule bringing separate account
annual expenses to 1.15% plus investment option expenses.
here for complete
annuity product details.
Sammons Retirement Solutions® Inc. (SRS)
A member of Sammons® Financial Group,
Sammons Retirement Solutions® Inc. provides simple, innovative and
straightforward solutions that can help individual investors live well in
retirement. These solutions include
mutual fund IRA accounts and annuities, available for sale through independent
broker-dealers and financial professionals.
Sammons Financial Group along with its
member companies are committed to charitable giving. In the last 18 months
employees have contributed more than 7,900 volunteer hours and financial
donations of more than $4.6 million have been presented to various charities.
# # #
Individual retirement accounts are designed
for long-term investing such as retirement investing and are subject to market
risk including loss of principal.
Investing in mutual
funds and variable annuities involves risk, including potential loss of
investment. You and your client should consider the investment objectives,
risks, charges, and expenses of the mutual fund or variable annuity and its
underlying investment options carefully before investing. The prospectus and/or
summary prospectus contains this and other information. You or your client can
call 866-747-3421 to obtain a current prospectus for the mutual fund or the
variable annuity and its underlying investment options. Please read it
distributor for Midland National’s variable products is Sammons Financial Network® LLC, member FINRA. Sammons Financial Network® LLC is
a registered broker/dealer under the Securities Exchange Act of 1934. Sammons Financial Network® LLC is
an indirect wholly owned subsidiary of Sammons Enterprises, Inc., of Dallas,
Texas, the ultimate parent company of Midland National® Life
Insurance Company and Sammons Retirement Solutions® Inc.
Variable Annuity is issued on form AS135A and ICC11-AS135A or appropriate state variations by Midland
National® Life Insurance
Company, West Des Moines, Iowa 50266. The LiveWell® Value Endorsement is not available in all
Bank n.a. is the custodian for the LiveWell® Mutual Fund IRA program.
The mutual funds offered through the LiveWell® Mutual Fund IRA are
made available through Sammons Financial Network® LLC, member FINRA,
4546 Corporate Drive, Suite 100, West Des Moines, IA 50266. Information about
the LiveWell® Mutual Fund IRA and its funds can be obtained by
calling 866-747-3421. UMB Bank n.a. is not an affiliate of Sammons®
Financial Group, Inc. or any of its member companies.
Financial Group, Inc., is an insurance holding company whose member companies
are comprised of Midland National® Life Insurance Company, Sammons
Annuity Group (a division of Midland National), Sammons® Corporate
Markets Group (a division of Midland National), North American Company for Life
and Health Insurance®, Sammons Retirement Solutions® Inc.
and Sammons Financial Network® LLC, member FINRA.
Transparent Value, LLC and
Guggenheim Investments, the fund manager for the investment management business
of Guggenheim Partners, LLC, is an affiliate of Sammons Enterprises, Inc. the
parent company of Midland National® Life Insurance Company and
Sammons Retirement Solutions® Inc.
NOT FDIC INSURED, MAY LOSE VALUE
INCLUDING LOSS OF PRINCIPAL, NO BANK GUARANTEE, NOT A DEPOSIT, NOT INSURED BY
ANY FEDERAL GOVERNMENT AGENCY.