AR
● Active
Annual Ratchet Death Benefit
Midland National Life Insurance Company
DTCC ID
—
COMPANY
Midland National Life Insurance Company
INCEPTION
May 07, 2024
CLOSED
—
Identity
Benefit name
Annual Ratchet Death Benefit
Internal benefit name
Annual Ratchet Death Benefit
Status
● Active
Inception date
07 May 2024
Closed date
—
Description & Notes
Benefit description
Upon death of owner, benefit will be greater of (1) Contract Value and (2) the total premium payments you've made, adjusted for Gross Partial Withdrawals. Additionally, there's the possibility of annual step ups on each Contract Anniversary before the oldest Owner reaches age 85.