| |
Midland
National Adds New
ProFunds to the
Vector Variable
Annuity
West Des Moines,
IA – Midland
National Life Insurance
Company, a member
of the $25 billion
Sammons Financial
Group based in Chicago,
IL, announced today
that it has, effective
December 1, added
8 additional funds
to the Vector Series
®Variable Annuity,
bringing the total
number of subaccounts
to 82. The additional
funds include ProFund
VP Emerging Markets,
ProFund VP Short
Emerging Markets,
ProFund VP Falling
US
Dollar, ProFund
VP International,
ProFund VP Short
International, ProFund
VP Mid- Cap, ProFund
VP UltraShort Dow
30 and ProFund VP
UltraShort OTC.
1
With the addition
of eight new funds,
The Vector Series
® Variable Annuity
is the first variable
annuity to have
the full-suite of
available ProFunds,
and the first annuity
to have unlimited
trading restrictions
on 51 actively traded
funds. Additionally
there are no trading
restrictions on
any of the 15 à
la carte rider options
designed specifically
for the Registered
Investment Advisor
Market. Managers
can also select
from among the 31
core funds offered
by some of the strongest
fund families in
the industry.
“Our addition
of the latest funds,
sought after by
the advisor community,
including the Falling
US dollar fund and
the Emerging Markets
fund, further strengthens
the Vector platform
and sends a clear
message to advisors
that Midland National
is committed to
the Vector product
line and its joint
venture with Outer
Banks Financial,
LLC.” said
Esfand Dinshaw,
President of Midland
National Annuity
Division. “Expansion
of the fund
choices within Vector
is just the beginning.
There are several
more first-to-market
enhancements in
the works for 2008,”
Dinshaw added.
“It’s
all about providing
financial planners
with the right tools
and the ability
to use them as they
see fit,”
said Michael Sapir,
chairman and CEO
of ProFunds Advisors
LLC. “By rounding
out Vector’s
ProFunds line-up,
Midland is demonstrating
it’s commitment
to providing both
the funds and flexibility
advisors need.”
ProFunds Group,
based in Bethesda,
Maryland, manages
more than $17 billion
in mutual funds
and ETF assets.
“As we prepare
for the baby boomer
retirement wave
over the next few
years, it’s
critical for us
to have dedicated
providers we can
count on to answer
our call when we
have an issue,”
said Cliff Cashman
a Financial Advisor
at Securities America.
“We prefer
to get thorough
and accurate answers
as well as personalized
service from experienced
industry veterans,
rather than subject
ourselves to the
proverbial “call
center” syndrome.”
“Midland
National and Outer
Banks are virtually
unmatched within
the industry with
regards to their
responsiveness,
attention to detail,
and willingness
to work with advisors
in a collaborative
manner. They are
both adaptive and
innovative in their
constant effortsto
improve service
and respond to our
ever changing needs,”
said Trow Trowbridge,
ChFC, President,
Dominion Wealth
Management.
“The Market’s
choppiness has reaffirmed
to many advisors
that alternatives
to traditional static
asset allocation
models are very
valuable, especially
when combined with
downside protection
riders” said
Elliott Shifman,
President of Outer
Banks Financial
of Raleigh, North
Carolina, the designers
and distributors
of the Vector Series
® Variable Annuity
in a partnership
with Midland National.
“The only
time you’re
thankful that you
have fire insurance
is after you have
had a fire, up until
that point, your
premium seemed like
it was a waste of
money. Downside
protected benefits,
including living
benefit and death
benefit riders when
combined with professional
management helps
in case of a market
meltdown. You can
drive for performance
while helping protect
your downside”
said Shifman.
For more complete
information about
the Vector Series
® Variable Annuity,
and to request a
prospectus, please
call 1-866-688-3725
or by e-mail at
info@outerbanksfinancial.com.
Back
to Media Main Page
|
