Midland National Income Planning Annuity – Growing Lifetime Income with Long-Term Care Support
At Diversified Insurance Brokers, we help individuals build a secure financial future with annuity solutions designed for guaranteed income, growth, and peace of mind. The Midland National Income Planning Annuity is a powerful fixed indexed annuity that provides steadily increasing lifetime income, long-term care protection, and flexible access—making it a strong option for retirement planning.
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10% Annual Income Increase for 10 Years
One of the most compelling features of this annuity is the Lifetime Payment Increase, which boosts your income by 10% each year for up to 10 years. This ensures your retirement income keeps pace with rising costs and gives you a larger, more stable income stream later in life—especially valuable if you plan to delay income payments.
Market-Linked Growth with Principal Protection
The Midland National Income Planning Annuity allows your retirement savings to grow based on market performance—without risking your principal. Index crediting strategies help capture growth potential while shielding your funds from market downturns, providing long-term financial stability.
Tax-Deferred Compounding
Earnings grow tax-deferred, allowing your money to compound more efficiently over time. This gives your retirement savings a better chance of lasting longer—and growing larger—than they might in a taxable account.
Penalty-Free Withdrawals and Long-Term Care Support
After the first year, you can take penalty-free withdrawals of up to 10% annually, offering flexibility for unexpected expenses. If you qualify for long-term care, the LPA Multiplier Benefit can double your income for up to five years, providing added financial relief during periods of increased care needs.
Why Work With Diversified Insurance Brokers
We help clients evaluate annuities based on their individual retirement goals, income timelines, and health planning needs. The Midland National Income Planning Annuity is ideal for those seeking increasing lifetime income, flexibility, and enhanced long-term care benefits.
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Ready to explore this annuity in more detail—or compare it with other carriers to see if even higher rates are available? With guaranteed income, principal protection, and long-term growth potential on the line, making the right choice is essential. The experienced advisors at Diversified Insurance Brokers will guide you through the options and design a strategy tailored to your retirement goals.
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FAQs: Midland National Income Planning Annuity
What is the Midland National Income Planning Annuity?
The Midland National Income Planning Annuity is an annuity contract designed to help you build retirement savings with the option to convert that accumulation into a predictable stream of income. It combines principal protection with flexibility for long-term retirement planning.
How does interest or growth crediting work?
Your premium may earn either fixed interest or, in certain versions, interest credited in connection with interest-rate indexing or bonus-crediting features — depending on the contract variant. Growth is tax-deferred until distributions begin.
Is my principal protected from market downturns?
Yes. Because this is a non-market-linked fixed or fixed-indexed-type annuity (depending on contract), the accumulation value is protected from stock-market losses. Your account value will not decline due to market volatility alone.
When and how can I begin receiving income?
You can elect to convert accumulation value into lifetime income or structured payout when you are ready. Payout options may include life-only, joint-life, or period-certain distributions depending on the contract you select.
Can I access funds before income begins?
Many contracts allow limited free withdrawals (such as a small percentage of account value) annually after the first contract year. However, larger withdrawals or full surrender during any surrender-charge period may incur fees and could impact future income or benefit guarantees.
What are surrender charges and liquidity limitations?
The contract includes a surrender period. If you surrender the annuity early or withdraw beyond the free-withdrawal allowance during that period, surrender charges or reductions to benefits may apply. That can limit your liquidity during the early years.
How are earnings and distributions taxed?
Earnings inside the annuity grow tax-deferred. When you take distributions or begin income payments, the taxable portion is usually taxed as ordinary income. Withdrawals before age 59½ may also be subject to additional tax penalties under IRS rules.
What happens if I die before or after income starts?
Depending on the payout and benefit options selected, beneficiaries may receive a death benefit based on accumulation value or a guaranteed minimum. If income payments have begun, certain payout options like joint-life or period-certain may continue payments to the surviving beneficiary.
Who is the Income Planning Annuity best suited for?
This annuity may be a good fit for individuals who are seeking tax-deferred growth, principal protection, and eventual guaranteed retirement income. It can be appealing to those who want to reduce market risk while planning for long-term income needs.
What should I carefully review before purchasing?
Key considerations include the surrender-charge schedule and withdrawal limits, liquidity needs, income-payout options, and how benefit guarantees and fees affect long-term value. Ensure the annuity’s features align with your retirement timeline and financial goals.
About the Author:
Jason Stolz, CLTC, CRPC, is a senior insurance and retirement professional with more than two decades of real-world experience helping individuals, families, and business owners protect their income, assets, and long-term financial stability. As a long-time partner of the nationally licensed independent agency Diversified Insurance Brokers, Jason provides trusted guidance across multiple specialties—including fixed and indexed annuities, long-term care planning, personal and business disability insurance, life insurance solutions, and short-term health coverage. Diversified Insurance Brokers maintains active contracts with over 100 highly rated insurance carriers, ensuring clients have access to a broad and competitive marketplace.
His practical, education-first approach has earned recognition in publications such as VoyageATL, highlighting his commitment to financial clarity and client-focused planning. Drawing on deep product knowledge and years of hands-on field experience, Jason helps clients evaluate carriers, compare strategies, and build retirement and protection plans that are both secure and cost-efficient.
