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.
Model this product
See what Summit Navigate would do for you
Set your numbers and switch between growth, income, and liquidity. Index losses credit 0% — the floor — so a down market never reduces your value.
Product analyzer
Illustrative — live CANNEX rates as of July 17, 2026; not a projection or guarantee.
Crediting strategy
Compare against
$381,824
Est. value at age 80 (Summit Navigate)
10%/yr
Free withdrawal allowance
Fidelity Multifactor Yield Index 5% ER — 8.2% Trigger (Annual Performance Credit — years 0-6 · Annual)
✦
How crediting works: the trigger credits 8.2% when the index year is flat or positive; a down year credits 0%, never a loss. A trigger strategy uses the index as a yes/no test for that declared credit. What is a cap vs participation? →
Assumptions: illustrative — applies Summit Navigate's published trigger rate (8.2% on Fidelity Multifactor Yield Index 5% ER) to a calibrated proprietary/volatility-controlled hypothetical index path (~1.9%/yr average, including down years) with a 0% floor over 20 years. Not a projection, quote, or guarantee. Live CANNEX rates as of July 17, 2026.
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See how Summit Navigate compares for your age, state, premium, and income goals alongside other Midland National fixed indexed annuity options.
Current rates, riders, crediting strategies, state availability, and contract facts stay scoped to this Midland National product.
Live product data
Rates as of July 17, 2026, from AdvisorWorld and CANNEX.
A+ AM Best — Superior
A safety-leaning fixed indexed annuity from A-plus-rated Midland National with a choice of two surrender-term variants, no premium minimum, and an annual free-withdrawal allowance — current declared index caps are not on the live feed right now and should be sourced directly from the carrier before purchase.
AdvisorWorld + CANNEX data
Best fit
Buyers who want a top-rated carrier's fixed indexed annuity chassis with the choice between two surrender-term variants, no premium floor, and are willing to confirm current declared caps directly with the carrier.
AM Best
A+ Superior
Surrender options
5 and 7 years
Free withdrawal
10%/yr
Availability
50 jurisdictions (excl. New York)
Minimum premium
$10,000
Featured crediting strategies
Caps, participation rates, and declared rates are shown separately.
Index / strategyRate mechanicsCreditingSurrenderPremium
Fixed Account
Fixed Account
5% declared rate
Fixed account
1-year term · 5-year surrender · Does not vary by premium
1-year term
5-year surrender
Does not vary by premium
Fixed Account
Fixed Account
4.85% declared rate
Fixed account
1-year term · 7-year surrender · Does not vary by premium
Two surrender-term variants are filed under one product (a shorter and a longer chassis), letting buyers match the commitment to their need-the-money-back timeline rather than being locked into a single chassis length.
A-plus rated carrier (A.M. Best) — Midland National is one of the larger U.S. fixed-annuity writers.
No premium minimum on the published feed — unusual for an FIA in Midland's Summit family; most Summit filings carry a mid-tier or six-figure premium floor.
Annual penalty-free withdrawal allowance plus nursing-home and RMD surrender-charge waivers — meaningful liquidity for an FIA chassis.
What to confirm
The live AdvisorWorld feed for this product currently shows rates only for the fixed-rate strategies — annual point-to-point cap rates on recognizable indexes are not published right now. Confirm current declared caps with the carrier before signing; a like-for-like cap comparison will remain unavailable until current cap rates are published.
There is no income rider on this contract — Summit Navigate is an accumulation / safety-leaning product, not an income product.
Market value adjustment applies on early surrender on top of the surrender-charge schedule.
Filed in 50 jurisdictions (every state and DC except New York) — New York residents are not on this contract.
Death benefit is the cash surrender value — no enhanced or step-up death benefit on this contract.
Not ideal for
Anyone planning around lifetime income (no rider on this product), anyone who needs a published cap rate to make the buying decision today (the live feed currently shows only the fixed-rate floor), anyone who may need full liquidity inside the surrender window (MVA layers on top), and New York residents (not filed there).
Free Comparison Report
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See how Summit Navigate compares for your age, state, premium, and income goals alongside other Midland National fixed indexed annuity options.
These are the current crediting strategies available for this product. Use the filters to narrow by index, term, premium band, or rate type.
Trigger: 7.8% · 1-yr
Fidelity Multifactor Yield Index 5% ER
Annual Performance Credit — years 0-4 · trigger
5-yr surrenderDoes not vary by premium
Fixed: 5% · 1-yr
Fixed Account
fixed
5-yr surrenderDoes not vary by premium
Trigger: 4.6% · 1-yr
S&P 500 Dynamic Intraday TCA Index (USD) ER
Annual Performance Credit — years 0-4 · trigger
5-yr surrenderDoes not vary by premium
Par: 100% · 5-yr
Fidelity Multifactor Yield Index 5% ER
Term Participation Rate — year 5 · participation
5-yr surrenderDoes not vary by premium
Par: 100% · 5-yr
S&P 500 Dynamic Intraday TCA Index (USD) ER
Term Participation Rate — year 5 · participation
5-yr surrenderDoes not vary by premium
Trigger: 8.2% · 1-yr
Fidelity Multifactor Yield Index 5% ER
Annual Performance Credit — years 0-6 · trigger
7-yr surrenderDoes not vary by premium
Trigger: 6.1% · 1-yr
S&P 500 Dynamic Intraday TCA Index (USD) ER
Annual Performance Credit — years 0-6 · trigger
7-yr surrenderDoes not vary by premium
Fixed: 4.85% · 1-yr
Fixed Account
fixed
7-yr surrenderDoes not vary by premium
Par: 100% · 7-yr
Fidelity Multifactor Yield Index 5% ER
Term Participation Rate — year 7 · participation
7-yr surrenderDoes not vary by premium
Par: 100% · 7-yr
S&P 500 Dynamic Intraday TCA Index (USD) ER
Term Participation Rate — year 7 · participation
7-yr surrenderDoes not vary by premium
Rate not shown · 5-yr
Index not shown
LA
Does not vary by premium
Rate not shown · 7-yr
Index not shown
LA
Does not vary by premium
Accumulation profile
Accumulation-focused contract
Current CANNEX information identifies this product as tax-deferred accumulation. Compare cap, participation rate, fees, liquidity, and surrender terms; use a separate payout-focused contract when guaranteed payout mechanics are required.
Common questions about Summit Navigate
● Can I lose money in Summit Navigate?
A negative index return by itself does not reduce the contract's account value: Summit Navigate credits 0% — the floor — for that indexed period. The account value can still decrease from applicable rider fees, Performance Rate Rider or other strategy charges, administrative charges, withdrawals, surrender charges, or other contract-specific deductions. In years with no credited interest, those deductions can reduce the account value. Up to 10% of your value can be withdrawn each year without a charge; withdrawals above the penalty-free amount during the surrender period can incur a surrender charge.
● When can I access my money without a surrender charge?
Up to 10% of your account value each year is penalty-free. The scheduled surrender charges run 7 years; after that the surrender-charge schedule ends. Bonus vesting, market value adjustments when applicable, and other contract rules can still affect the amount available. The Liquidity tab of the analyzer shows the year-by-year surrender charge.
● How do Summit Navigate's crediting strategies compare?
Use "Compare against" in the analyzer to overlay another current Summit Navigate strategy on the same premium, age, years, and hypothetical index path. The control labels the strategy type, rate, index, and context so caps, participation rates, triggers, spreads, and fixed-account choices are not treated as interchangeable.
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
Death benefit
Standard Death Benefit
Beneficiary value depends on contract terms, withdrawals, and rider elections.
Declared-rate floor
0.25%
Minimum guaranteed declared rate for declared-rate or performance-trigger strategies.
Fixed account guarantee
0.25%
Guaranteed minimum interest rate for the fixed account.
Participation-rate floor
10.00%
Minimum guaranteed participation rate for participation-rate indexed strategies.
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
8%
Yr 4
7%
Yr 5
6%
Yr 6
5%
Yr 7
4%
After
0%
Nursing home waiver, RMD waiver, Surrender waivers
Documents
brochure
Midland National â Summit Navigate® Fixed Index Annuity â Brochure (28949R : REV 09-24).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 Navigate currently shows 10 distinct indexed or fixed crediting choices across 12 displayed rate entries, including Fixed Account, with 8 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, renewal terms, and fee-bearing rider variants are different mechanics and should not be ranked as one simple rate list.
Fixed Account: 5% fixed account rate
Fixed Account: 4.85% fixed account rate
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
7 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 â Summit Navigate® Fixed Index Annuity â Brochure (28949R : REV 09-24).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
Free Comparison Report
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See how Summit Navigate compares for your age, state, premium, and income goals alongside other Midland National fixed indexed annuity options.