Midland National Launches First Fee-Based MYGA with ADL Benefit Rider, Expanding Solutions Built for RIAs

New structure helps advisors reposition liquid assets into income-generating strategies with built-in care protection

WEST DES MOINES, Iowa--(BUSINESS WIRE)--Midland Advisory, part of Midland National® Life Insurance Company, today announced the launch of Oak ADVantage® Care, the first fee-based multi-year guarantee annuity (MYGA) in the industry to include an Activities of Daily Living (ADL) benefit rider.

The solution is designed specifically for registered investment advisors (RIAs) and investment adviser representatives (IARs) seeking to address a common problem: how to position assets held for “just-in-case” scenarios, such as unexpected health events, without sacrificing growth, income, or control.

“Advisors have long had to choose between keeping these assets liquid and underutilized or moving them outside the plan,” said Bryce Biklen, President of Sammons Independent Annuity Group. “Oak ADVantage Care introduces a new option that keeps the advisor in control while putting those assets to work.”

Oak ADVantage Care combines:

• Fixed, predictable growth through a MYGA structure
• A fee-based design aligned with advisory practices
• An ADL benefit rider that increases available value in the event of qualifying health events

This approach allows advisors to integrate care-related risk planning without introducing unnecessary complexity or relinquishing portfolio oversight.

“Most clients already have a pool of assets earmarked for ‘what if,’” said Cooper Sinclair, Head of Strategy for Midland Advisory. “The question is whether those dollars are working hard enough. This product gives advisors a way to improve outcomes without changing the overall philosophy of the plan.”

Demand for both fee-based annuities and living benefit features continues to grow, yet awareness and adoption remain limited within the RIA channel. Oak ADVantage Care aims to close that gap by offering a structure that fits cleanly within fee-based frameworks.

“This isn’t about replacing portfolios,” said Kevin Sullivan, Head of Sales for Midland Advisory. “It’s about solving a specific problem—efficiency—and giving advisors another lever to manage risk without overengineering the solution.”

Financial advisors eager to explore this new solution are invited to connect with the Midland Advisory team. To learn more, visit MidlandAdvisory.com.

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About Midland National Life Insurance Company

For nearly 120 years, Midland National® Life Insurance Company has been a financial services industry leader, crediting the company’s strength to its commitment to stability, innovation, and dedicated customer service. Midland National is a member of Sammons® Financial Group, Inc., a subsidiary of Sammons Enterprises, Inc.

Midland Advisory, part of Midland National® Life Insurance Company, specializes in retirement solutions to help meet the needs of registered investment advisors (RIAs) and their clients. Midland Advisory is not an issuer of insurance products. Securities distributed by Sammons Financial Network®, LLC., member FINRA.