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Fixed Indexed Annuity

Summit Focus 3

Midland National

5%

Free W/D

49

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.

No clean annual cap to headline — strategies are participation-rate with strategy fees

An unusually short (three-year) fee-based / advisory-share fixed indexed annuity from A-plus-rated Midland National, with a fee-bearing participation-rate strategy menu and a six-figure premium minimum — filed in 49 jurisdictions (all states and DC except Idaho and New York).

No qualifying annual cap on a recognizable indexAdvisorWorld + CANNEX data

Best fit

Buyers being offered the fee-based / advisory variant of an FIA inside an advisory account who specifically want the shortest possible surrender lockup and accept the participation-rate-with-strategy-fee crediting model.

AM Best

A+ Superior

Surrender period

3 years

Free withdrawal

5%/yr

Availability

49 jurisdictions (excl. Idaho, New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

25% cap rate

Rate varies by premium band.

S&P 500

S&P 500 Index

35% cap rate

Rate varies by premium band.

S&P 500

S&P 500 Index

65% participation rate

Rate varies by premium band.

S&P 500

S&P 500 Index

85% participation rate

Rate varies by premium band.

Fixed Account

Fixed Account

4.3% declared rate

Rate varies by premium band.

+ 2 volatility-controlled index options (BlackRock...)

Product analyst notes

How to think about this contract

Why it can stand out

  • Very short three-year surrender chassis — the shortest FIA surrender length in Midland's lineup, and unusual for the category overall (most FIAs run five to ten years). Fits a buyer who is unwilling to lock up money for the typical FIA chassis but still wants index participation.
  • A-plus rated carrier (A.M. Best) — Midland National is one of the larger U.S. fixed-annuity writers.
  • 'Focus' filing in Midland's Summit family signals the fee-based / advisory variant typically used in advisory accounts rather than commission-based ones — confirm with the advisor whether this is the correct share class for the platform.
  • Nursing-home and RMD surrender-charge waivers are in the contract — penalty access for those specific life events does not require selling the contract entirely.

What to confirm

  • The indexed strategy menu on this product is built around fee-bearing participation-rate strategies — there is no clean S&P 500 annual point-to-point cap on the live feed. The 'high' participation rates these strategies publish are gross of the strategy fee, so the buyer's net credit is materially lower than the row advertises.
  • There is no income rider on this contract — Summit Focus 3 is a short-surrender accumulation product.
  • Free-withdrawal allowance on this filing is narrower than the more common standard for accumulation FIAs — liquidity is tighter on this contract than on most accumulation FIAs; the live allowance is shown on this page.
  • Premium minimum is published on the live feed and reflects a six-figure floor — positioned for the high-balance advisory market.
  • Market value adjustment applies on early surrender on top of the surrender-charge ladder. On a short chassis the surrender window is brief but early-year penalties stay meaningful; the year-by-year ladder is shown on this page.
  • Filed in 49 jurisdictions (every state and DC except Idaho and New York) — residents of either state are not on this filing.
  • Death benefit is the accumulation value with no rollup or step-up.

Not ideal for

Anyone planning around lifetime income (no rider on this product), anyone shopping below the published premium minimum, anyone who wants a clean recognizable-index cap to ground crediting comparisons, anyone who needs broader annual penalty-free liquidity than the live filing publishes, and residents of Idaho or New York (not filed in either state).

All crediting strategies

View rate listings (14 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.

Fixed: 4.3% · 1-yr

Fixed Account

fixed

3-yr surrender$100,000+

Par: 360% · 3-yr

BlackRock ESG U.S. 5% Index ER

Strategy Fee Included · participation

3-yr surrender$100,000+

Par: 260% · 3-yr

BlackRock ESG U.S. 5% Index ER

participation

3-yr surrender$100,000+

Par: 85% · 3-yr

S&P 500 Index

Strategy Fee Included · participation

3-yr surrender$100,000+

Par: 65% · 3-yr

S&P 500 Index

participation

3-yr surrender$100,000+

Cap: 35% · 3-yr

S&P 500 Index

Strategy Fee Included · cap

3-yr surrender$100,000+

Cap: 25% · 3-yr

S&P 500 Index

cap

3-yr surrender$100,000+

Fixed: 4.3% · 1-yr

Fixed Account

$100,000+

Par: 360% · 3-yr

BlackRock ESG U.S. 5% Index ER

Strategy Fee Included

$100,000+

Par: 260% · 3-yr

BlackRock ESG U.S. 5% Index ER

$100,000+

Par: 85% · 3-yr

S&P 500 Index

Strategy Fee Included

$100,000+

Par: 65% · 3-yr

S&P 500 Index

$100,000+

Cap: 35% · 3-yr

S&P 500 Index

Strategy Fee Included

$100,000+

Cap: 25% · 3-yr

S&P 500 Index

$100,000+

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

5%/yr

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

Surrender waivers

2

Nursing home waiver, RMD waiver

Death benefit

Accumulation Value Death Benefit

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

Strategy guarantee

Minimum guaranteed cap: 0.50%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 0.10%

Strategy guarantee

Minimum guaranteed participation: 10.00%

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

8%

Yr 2

8%

Yr 3

7%

After

0%

Nursing home waiver, RMD waiver, Surrender waivers

Documents

brochure

Midland National – Summit Focus® 3 Fixed Index Annuity – Brochure (34537R : REV 03-24).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

Summit Focus 3 currently shows 7 distinct indexed or fixed crediting choices across 14 current rate listings, including S&P 500 Index, with 2 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: 25% cap
  • S&P 500 Index: 35% cap
  • S&P 500 Index: 65% 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.

  • 5%/yr free withdrawal
  • 3 surrender years
  • Nursing home waiver
  • RMD waiver

Verification note

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

Carrier materials such as Midland National – Summit Focus® 3 Fixed Index Annuity – Brochure (34537R : REV 03-24).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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