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Fixed Indexed Annuity

MNL IndexBuilder 10

Midland National

6%

Best Cap

10%

Free W/D

50

Jurisdictions

Product data status: May 29, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Live product data

Rates as of May 29, 2026, based on the latest AdvisorWorld scan of CANNEX data.

S&P 500 annual point-to-point cap

6% cap on S&P 500

A ten-year accumulation-focused fixed indexed annuity from A-plus-rated Midland National with an up-front premium bonus, a wide menu of S&P 500 / Nasdaq-100 caps and proprietary participation-rate strategies, and a mid-tier premium minimum — no income rider attached.

1-year termAdvisorWorld + CANNEX data

Best fit

Buyers committing to a decade-long deferral who want the day-one boost of a premium-bonus FIA, are willing to compare tighter caps against the up-front bonus, and don't need a lifetime-income rider.

AM Best

A+ Superior

Surrender period

10 years

Free withdrawal

10%/yr

Availability

50 jurisdictions (excl. New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

1.5% cap rate

S&P 500

S&P 500 Index

6% cap rate

Rate varies by premium band.

S&P 500

S&P 500 Index

100% participation rate + 6% declared rate

S&P 500

S&P 500 Index

15% participation rate

Rate varies by premium band.

S&P 500

S&P 500 Index

25% participation rate

Rate varies by premium band.

Fixed Account

Fixed Account

3.1% declared rate

+ 12 volatility-controlled index options (S&P MARC, Fidelity Multifactor, S&P 500...)

Product analyst notes

How to think about this contract

Why it can stand out

  • Premium bonus is built into the contract — the chassis credits an up-front bonus on premium that vests across the surrender window, boosting the day-one accumulation value above the buyer's deposit. Bonus FIAs typically carry tighter caps in exchange for the up-front credit; compare net-of-bonus crediting versus a non-bonus alternative.
  • Wide strategy menu — the published feed shows many strategies on this product, spanning recognizable S&P 500 and Nasdaq-100 caps alongside participation-rate strategies on multiple proprietary volatility-controlled indexes. More crediting paths means more comparison work but also more flexibility.
  • A-plus rated carrier (A.M. Best) — Midland National is one of the larger fixed-annuity writers in the U.S.
  • Ten-year surrender chassis is the standard accumulation-FIA deferral length and aligns with the bonus vesting schedule.
  • Annual penalty-free withdrawal allowance plus nursing-home and RMD surrender-charge waivers.

What to confirm

  • There is no income rider on this contract — IndexBuilder 10 is an accumulation product with a premium bonus, not an income product. Buyers planning around lifetime income need to look at Midland's income-rider-bearing filings (Capital Income, IncomeVantage Pro, Summit Edge series) instead.
  • Premium-bonus chassis: the bonus has a year-by-year vesting schedule, so early surrender forfeits a portion of the bonus on top of the surrender charge and the MVA. The headline accumulation value at day one is larger than the buyer's actual locked-in capital until the bonus fully vests.
  • Several strategies are fee-bearing variants — the published cap on those is gross of the strategy fee, which can run a meaningful percentage and overstates the buyer's net credit versus the base-strategy cap on the same index. The strategy menu also contains monthly-sum cap rows; those are structurally different and not comparable to an annual cap.
  • Premium minimum is published on the live feed and reflects a mid-tier floor — positioned above entry-level FIA premium minimums.
  • Caps on this product are tighter than on the non-bonus accumulation siblings in the lineup (a consequence of the premium-bonus chassis). Confirm the trade-off against a non-bonus alternative for the same surrender length.
  • Market value adjustment applies on early surrender on top of the surrender-charge ladder, which runs the full ten-year window.
  • Filed in 50 jurisdictions (every state and DC except New York) — New York residents are not on this filing.

Not ideal for

Anyone planning around lifetime income (no rider on this product), anyone shopping below the published premium minimum, anyone who may need full liquidity inside the ten-year surrender window (surrender charge, MVA, and bonus claw-back all layer together on early exit), and New York residents (not filed there).

All crediting strategies

View rate listings (36 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Par: 120% · 1-yr

S&P MARC 5% Excess Return

Enhanced Participation Rate · participation

10-yr surrender$75,000+

Par: 120% · 1-yr

Fidelity Multifactor Yield Index 5% ER

Enhanced Participation Rate · participation

10-yr surrender$75,000+

Par: 100% + Fixed: 6% · 1-yr

S&P 500 Index

trigger

10-yr surrender$75,000+

Par: 65% · 1-yr

S&P MARC 5% Excess Return

participation

10-yr surrender$75,000+

Par: 65% · 1-yr

Fidelity Multifactor Yield Index 5% ER

participation

10-yr surrender$75,000+

Par: 50% · 1-yr

Nasdaq-100 Volatility Control 12% Index

Enhanced Participation Rate · participation

10-yr surrender$75,000+

Par: 45% · 1-yr

S&P 500 Dynamic Intraday TCA Index (USD) ER

Enhanced Participation Rate · participation

10-yr surrender$75,000+

Par: 30% · 1-yr

S&P 500 Dynamic Intraday TCA Index (USD) ER

participation

10-yr surrender$75,000+

Par: 30% · 1-yr

Nasdaq-100 Volatility Control 12% Index

participation

10-yr surrender$75,000+

Par: 15% · 1-yr

S&P 500 Index

participation

10-yr surrender$75,000+

Cap: 6% · 1-yr

S&P 500 Index

cap

10-yr surrender$75,000+

Fixed: 3.1% · 1-yr

Fixed Account

fixed

10-yr surrender$75,000+

Cap: 1.5% · 1-yr

S&P 500 Index

Monthly Point-to-Point · monthly_sum_cap

10-yr surrender$75,000+

Par: 110% · 2-yr

Fidelity Multifactor Yield Index 5% ER

participation

10-yr surrender$75,000+

Par: 105% · 2-yr

S&P MARC 5% Excess Return

participation

10-yr surrender$75,000+

Par: 45% · 2-yr

Nasdaq-100 Volatility Control 12% Index

participation

10-yr surrender$75,000+

Par: 40% · 2-yr

S&P 500 Dynamic Intraday TCA Index (USD) ER

participation

10-yr surrender$75,000+

Par: 25% · 2-yr

S&P 500 Index

participation

10-yr surrender$75,000+

Par: 120% · 1-yr

S&P MARC 5% Excess Return

Enhanced Participation Rate

$75,000+

Par: 120% · 1-yr

Fidelity Multifactor Yield Index 5% ER

Enhanced Participation Rate

$75,000+

Par: 100% + Fixed: 6% · 1-yr

S&P 500 Index

$75,000+

Par: 65% · 1-yr

S&P MARC 5% Excess Return

$75,000+

Par: 65% · 1-yr

Fidelity Multifactor Yield Index 5% ER

$75,000+

Par: 50% · 1-yr

Nasdaq-100 Volatility Control 12% Index

Enhanced Participation Rate

$75,000+

Par: 45% · 1-yr

S&P 500 Dynamic Intraday TCA Index (USD) ER

Enhanced Participation Rate

$75,000+

Par: 30% · 1-yr

S&P 500 Dynamic Intraday TCA Index (USD) ER

$75,000+

Par: 30% · 1-yr

Nasdaq-100 Volatility Control 12% Index

$75,000+

Par: 15% · 1-yr

S&P 500 Index

$75,000+

Cap: 6% · 1-yr

S&P 500 Index

$75,000+

Fixed: 3.1% · 1-yr

Fixed Account

$75,000+

Cap: 1.5% · 1-yr

S&P 500 Index

Monthly Point-to-Point

$75,000+

Par: 110% · 2-yr

Fidelity Multifactor Yield Index 5% ER

$75,000+

Par: 105% · 2-yr

S&P MARC 5% Excess Return

$75,000+

Par: 45% · 2-yr

Nasdaq-100 Volatility Control 12% Index

$75,000+

Par: 40% · 2-yr

S&P 500 Dynamic Intraday TCA Index (USD) ER

$75,000+

Par: 25% · 2-yr

S&P 500 Index

$75,000+

Income riders

Accumulation-focused — no income rider

This contract is designed for tax-deferred accumulation, not guaranteed lifetime income. No GLWB rider was returned because none is part of the contract design — compare against other accumulation FIAs on cap, participation rate, and surrender terms rather than lifetime income.

Key Features

Free withdrawal

10%/yr

Annual amount that may be available without surrender charges, subject to contract terms.

Surrender waivers

2

Nursing home waiver, RMD waiver

Premium bonus

14%

Bonus terms can vary by state, premium band, and rider election.

Death benefit

Accumulation Value Death Benefit

Beneficiary value depends on contract terms, withdrawals, and rider elections.

Strategy guarantee

Minimum guaranteed cap: 0.25%

Strategy guarantee

Minimum guaranteed declared rate: 0.25%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 0.25%

Annuitization options

Single and joint

Contract conversion options should be confirmed before purchase.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

Surrender schedule

Yr 1

9%

Yr 2

8.5%

Yr 3

7.5%

Yr 4

6.5%

Yr 5

5.5%

Yr 6

4.5%

Yr 7

3.5%

Yr 8

3%

Yr 9

2%

Yr 10

1%

After

0%

Nursing home waiver, RMD waiver, Surrender waivers

Documents

brochure

29720Y-1 - MNL IndexBuilder 10 brochure-2.pdf

Confidence: highReviewed Apr 6, 2026

Direct link not published — request the document from the carrier.

Carrier Ratings

AM BestA+
S&PA+
S&PA+

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

MNL IndexBuilder 10 currently shows 18 distinct indexed or fixed crediting choices across 36 current rate listings, including S&P 500 Index, with 6 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, and renewal terms are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 1.5% cap
  • S&P 500 Index: 6% cap
  • S&P 500 Index: 100% participation

Liquidity terms

Why access rules deserve as much attention as rates

A fixed indexed annuity can preserve more control than an income-only contract, but access is still governed by the surrender schedule, free-withdrawal terms, and waiver language. Those details are where many product comparisons become more meaningful than a simple rate list.

  • 10%/yr free withdrawal
  • 10 surrender years
  • Nursing home waiver
  • RMD waiver

Verification note

Use carrier materials as term evidence, then confirm the current version

Carrier materials such as 29720Y-1 - MNL IndexBuilder 10 brochure-2.pdf help explain the contract language behind the data on this page; the latest document activity we see is Apr 8, 2026. For the current brochure, rate sheet, or specimen contract, confirm the state-specific version with the carrier or a licensed financial professional.

  • Rates and rider terms can vary by state and issue age
  • Carrier guarantees depend on claims-paying ability
  • Current contract forms should be confirmed before purchase

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