New Commission-Free MYGA from Midland National Joins RetireOne Platform

Fee-based solution is offered in 3-, 5-, or 7-year duration

To help meet growing demand among RIAs, our partners at Midland National Life Insurance Company (Midland National) launched a new Multi-Year Guarantee Annuity (MYGA) named Oak ADVantageSM. This new advisory MYGA has been designed specifically with RIAs in mind and is available on the RetireOne platform.

In the current low-rate environment, RIAs seeking out fixed income alternatives and alternatives to certificates of deposit have found today’s modern advisory MYGAs to be a valuable option for risk-averse clients, and those seeking premium protection as stock prices reach record highs. The Oak ADVantage MYGA is available in 3, 5, or 7 year durations with a flat, 3% surrender charge schedule in each year of the chosen duration.

Among the benefits of Oak ADVantage:

  • Strong interest rates, guaranteed for the entire 3, 5, or 7-year duration
  • Asset protection in a market downturn
  • Flexible renewal options

Oak ADVantageSM is the third Midland National solution to join RetireOne, the leading independent platform for fee-based insurance solutions. Among those solutions are IndexMaxSM, a unique MYGA/Fixed Index Annuity (FIA) hybrid product that offers a powerful dual-crediting strategy, and our recently launched contingent deferred annuity, Constance.

Constance is a first-of-its-kind, zero-commission solution that unbundles the annuity’s insurance component from the underlying investments. This allows RIAs to wrap client ETFs and mutual funds in their IRAs, Roth IRAs, and taxable brokerage accounts with a Portfolio Retirement Income Guarantee. Constance acts as Portfolio Income Insurance to mitigate risk.

Learn more about Oak ADVantage ->


Insurance products issued by Midland National® Life Insurance Company, West Des Moines, Iowa. Product and features/options may not be available in all states or appropriate for all clients. See product materials and state availability chart for further details, specific features/options, and limitations by product and state.

The Oak ADVantageSM is issued on base contract form ICC21-AR204A/AS204A or appropriate state variation including all applicable endorsements and riders.

The IndexMax ADVSM is issued on base contract form AS203A/ICC20-AS203A or appropriate state variations including all applicable endorsements and riders.

The ConstanceSM Group Contingent Deferred Annuity is issued by Midland National® Life Insurance Company, West Des Moines, Iowa 50266, distributed by EF Legacy Securities, LLC, member FINRA and underwritten by Sammons Financial Network®, LLC., member FINRA. Certificate Form AC206A and Contract Form AS206A (may vary by state). The ConstanceSM Group Contingent Deferred Annuity is not available in New York.

A surrender during the surrender charge period could result in a loss of premium. The surrender charge and market value adjustment may reset with renewal. Surrender charge structures and guarantee periods may vary by state.

Fixed index annuities are not a direct investment in the stock market. They are long term insurance products with guarantees backed by the issuing company. They provide the potential for interest to be credited based in part on the performance of specific indices, without the risk of loss of premium due to market downturns or fluctuation. Although fixed index annuities guarantee no loss of premium due to market downturns, deductions from your accumulation value for additional optional benefit riders or strategy fees associated with allocations to enhanced crediting methods could exceed interest credited to the accumulation value, which would result in loss of premium. They may not be appropriate for all clients. Interest credits to a fixed index annuity will not mirror the actual performance of the relevant index.

Registered investment advisors* (financial advisors) who work with our appointed insurance agents (financial professional(s)) operate independently from Midland National and vary in the extent to which they use the insurance products available to any respective financial professional.

*Midland National does not evaluate, endorse, recommend, or guarantee the services of any financial advisor. You have the relationship and hiring decisions with your financial advisor. As such, we will not supervise or monitor the financial advisor’s activities or your overall investment portfolio, nor are we responsible for the performance of your investments. We have no discretionary authority or control, or liability for any damages with respect to how your financial advisor manages your investment assets.