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Agents offering, marketing, or selling accelerated death benefits for chronic illness in California must be able to describe the differences between benefits provided under an accelerated death benefit for chronic illness and benefits provided under long-term care insurance to clients. You must provide clients with the ADBE Consumer Brochure for California that includes this comparison. Comparison is for solicitation purpose only, not for conversions.

1. Subject to premium payment requirements.

2. Conditionally guaranteed interest bonus on fixed account - if we are crediting interest in excess of the guaranteed interest rate and your client's policy is in effect after the 10th policy anniversary, your client's policy will receive an interest bonus. The interest bonus is 0.75% above the then current interest rate. No fixed account interest bonus is credited on values backing standard or net-zero cost loans. Interest bonus percentages are not guaranteed and are subject to change; however, once a policy is issued, the percentage will not change.

3. Net Zero Cost Loans are loans charged and credited at the same interest rate percentage for a net zero cost.  The policy year and amount available vary by product.  Please refer to the specific product marketing guide or contact the marketing department for details.

4. Some living benefits cannot be elected simultaneously. If the overloan protection benefit is elected, the accelerated death benefits and the protected death benefit cannot be elected. If Policy has a Premium Guarantee Rider attached to it, such rider will be terminated upon the election of the Protected Death Benefit.

5. Subject to eligibility requirements. The death benefit will be reduced by the amount of the death benefit accelerated. Since benefits are paid prior to death, a discount will be applied to the death benefit accelerated. As a result, the actual amount received will be less than the amount of the death benefit accelerated. An administrative fee applies to each terminal and chronic election. There is no administrative fee for critical illness.

6. In some situations loans and withdrawals may be subject to federal taxes. Midland National does not give tax or legal advice. Clients should be instructed to consult with and rely on their own tax advisor or attorney for advice on their specific situation. Income and growth on accumulated cash values is generally taxable only upon withdrawal. Adverse tax consequences may result if withdrawals exceed premiums paid into the policy. Withdrawals or surrenders made during a Surrender Charge period will be subject to surrender charges and may reduce the ultimate death benefit and cash value. Surrender charges vary by product, issue age, sex, underwriting class, and policy year.

7. The net cost of a variable interest rate policy loan, or variable interest participating policy loan as it is referred to as on Strategic Accumulator 2, could be negative if the credits earned are less than the interest charged. The net cost of the loan could also be larger than under standard policy loans if the amount credited is less than the interest charged. In the extreme example, the amount credited could be zero and the net cost of the loan would equal the maximum interest rate charged on variable interest loans. In brief, variable interest rate loans have more uncertainty than standard policy loans in both the interest rate charged and the interest rate credited.

8. The tax-deferred feature of the indexed universal life policy is not necessary for a tax-qualified plan. In such instances, your client should consider whether other features, such as the death benefit and optional riders make the policy appropriate for your client's needs. Before purchasing this policy, your client should obtain competent tax advice both as to the tax treatment of the policy and the suitability of the product.

9. Allows policy owner the right to exchange policy, without evidence of insurability and surrender charges, to one of our cash value accumulation indexed universal life policies available at the time of exchange.  The Cash Surrender Value on the new policy may not be greater than the Cash Surrender Value on the policy being exchanged.  Not available for policy ages 76 and above or if there is an outstanding policy loan.

10. Premiums are guaranteed to remain level for the initial 10, 15, 20, or 30 year period. After the premium guarantee period, premiums will increase annually but will never exceed the Guaranteed Annual Renewal Premium.

11. Conversions are allowed according to the following schedule:

• 10-year term length: the earlier of 7 years or age 70
• 15-year term length: the earlier of 12 years or age 70
• 20-year term length: the earlier of 15 years or age 70
• 30-year term length: the earlier of 20 years or age 70

The conversion period is never less than 5 years regardless of issue age.

12. Guaranteed convertible to a permanent life insurance policy then available from Midland National for Conversion, subject to the terms of the policy.

13. NA

14. The net cost of a Fixed Interest Participating Policy Loan could be negative if the credits earned are less than the interest charged. The net cost of the loan could also be larger than under standard policy loans if the amount credited is less than the interest charged. In the extreme example, the amount credited could be zero and the net cost of the loan would equal the maximum interest rate charged less any guaranteed bonus. In brief, fixed interest rate loans have more uncertainty than standard policy loans in the interest rate credited.

15. Subject to eligibility requirements.

16. Provides the opportunity to recover part or all of the total premiums paid within a 60-day window after the 15th, 20th and 25th policy anniversary upon full surrender of the policy. This benefit will remain in effect to the 25 year policy anniversary as long as all gross premiums paid guarantee the policy to at least attained age 95, assuming no policy loans are taken. The premium recovery value is the total premiums paid less any policy debt or withdrawals, including withdrawal charges and processing fee.  The total premiums paid will be reduced by the same portion as the death benefit for any acceleration of the death benefit. The premium recovery value will never be less than the net cash surrender value.  Refer to the endorsement for complete details.

17. Surrender charges will not be waived if the policy is surrendered under an external 1035 exchange (except in FL). A decrease charge will be assessed if a reduction in the specified amount is requested during the waiver of surrender charge period. However, if a partial withdrawal results in a reduction of the specified amount, the withdrawal charge is waived. There is an additional charge for this rider and it must be applied for at the time of application.

Neither Midland National nor its agents give tax advice. Please advise your customers to consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangements.

Indexed Universal Life insurance products are not an investment in the “market” or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.

Premier Term (policy form series T142), Essential Guaranteed UL 5 (policy form series L146), Strategic Protector (policy form series L148), Strategic Accumulator IUL 2 (policy form series L153), Strategic Accelerator IUL 2 (policy form series L149) including all applicable riders and endorsements are issued by Midland National Life Insurance Company, Administrative Office, West Des Moines, IA. Products, features, endorsements, riders or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply.

Sammons Financial® is the marketing name for Sammons® Financial Group, Inc.’s member companies, including Midland National® Life Insurance Company. Annuities and life insurance are issued by, and product guarantees are solely the responsibility of, Midland National Life Insurance Company.