Innovative Endorsement to the LiveWell® Variable Annuity Decreases
American Funds and Oppenheimer Funds Added to Investment Line Up
WEST DES MOINES, Iowa--(BUSINESS WIRE)--
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 annuity
“With recent 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
William Lowe, President of Sammons Retirement Solutions.
The newly 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 of Sammons
Retirement Solutions. “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.
A minimum 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.
About 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
The 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.
LiveWell® 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 states.
UMB 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
Sammons® 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
NOT FDIC INSURED, MAY LOSE VALUE INCLUDING LOSS OF PRINCIPAL, NO BANK
GUARANTEE, NOT A DEPOSIT, NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY.
Sammons Retirement Solutions
Judy Thorpe, 515-327-5816
Claudine Cornelis, 917-822-7064
Source: Sammons Retirement Solutions Inc.