Variable Annuity II
Performance Numbers
Form Number A057A1
   
Base Policy - Standardized Returns, since inception of the Separate Account or the date on which the investment option was included in the separate account funding the variable annuity. Charges Included: A.) M&E = 1.25%, Administration Fee = 0.15% and 0.27% for maintenance fee14, B.) Surrender Charge that declines over 8 years as follows; 8%, 8%, 7%, 7%, 6%, 5%, 4%, 2%, 0%11, C.) All fund charges and expenses, D.) Since inception of Separate Account or the date on which the investment option was included in the Separate Account funding the variable annuity.

The performance data quoted represents past performance. Past performance is no guarantee of future results. Current performance may be higher or lower then the performance quoted. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Please consider the fund's investment objectives, risks, charges and expenses carefully before investing. The product prospectus and the fund prospectuses contain this and other information about Midland National’s variable products including the funds' investment objectives, risks, charges and expenses. To obtain current product and fund prospectuses, you can call or write to Midland National Annuity Division, 4601 Westown Parkway, Suite 300, West Des Moines, Iowa 50266-1071, 866.541.0918. Please read these prospectuses carefully before you invest or send any money. Click here (6471Y) to download the Variable Annuity II prospectus.

*The fund invests primarily in the money market instruments issued and guaranteed as to the principal and interest by the U.S. Government, it agencies or instruments, and enters into repurchase agreements fully collateralized by U.S. Government securities. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
 
Average Annual Total Return
Updates Quarterly (as of Sep 30 2009)
Investment Portfolios1
Date of Inception
Year to Date
1-Year
3-Year
5-Year
10-Year
Since Inception
AIM V.I. Financial Services  3,8,19
05/01/0217.66%-30.56%-29.81%-15.51%---9.00%
AIM V.I. Global Health Care 3,8,19,20
05/01/0211.19%-37.79%-14.96%-6.03%---3.50%
Alger American Capital Appreciation Portfolio 2
05/01/0131.61%-0.20%0.72%7.06%--0.84%
Alger American Large Cap Growth Portfolio 
05/01/0129.58%-7.49%-5.10%0.32%---3.09%
Alger American MidCap Growth 2
05/01/0134.51%-12.30%-8.30%-0.87%---0.75%
Alger American SmallCap Growth Portfolio 6
05/01/0129.55%-9.07%-4.79%4.41%--1.42%
American Century VP Balanced Fund 3
05/01/983.49%-10.22%-4.60%-0.01%0.89%1.27%
American Century VP Capital Appreciation Fund 2,3
05/01/9821.76%-13.01%1.48%7.88%3.72%3.23%
American Century VP Income & Growth Fund 3
09/01/984.18%-18.29%-11.25%-3.06%-1.77%1.36%
American Century VP International Fund 3,4
05/01/9819.61%-8.43%-6.42%3.46%-0.11%0.44%
American Century VP Value Fund 3
05/01/984.57%-14.87%-9.52%-1.57%3.41%2.26%
Fidelity VIP Asset Manager: Growth® 3,5
05/01/9819.08%-6.18%-2.84%0.32%-0.87%-0.15%
Fidelity VIP Asset ManagerSM Portfolio 3,5
05/01/9816.36%-2.72%-1.38%1.20%1.00%1.39%
Fidelity VIP Balanced 3
05/01/9824.16%-0.74%-3.50%0.73%0.69%0.89%
Fidelity VIP Contrafund® 3
05/01/9820.12%-9.72%-6.32%1.69%2.19%3.37%
Fidelity VIP Equity-Income 3
05/01/9816.76%-13.88%-11.80%-2.55%0.08%0.06%
Fidelity VIP Growth 3
05/01/9812.15%-20.47%-9.56%-3.00%-3.91%-1.10%
Fidelity VIP Growth & Income 3
05/01/9812.63%-17.02%-9.63%-2.19%-1.65%-0.45%
Fidelity VIP Growth Opportunities 3
05/01/9826.96%-7.82%-9.92%-4.08%-5.01%-3.75%
Fidelity VIP High Income 3,5
05/01/9827.64%0.71%-0.69%1.96%0.40%-0.40%
Fidelity VIP Index 500 3,6
05/01/9810.69%-15.56%-9.41%-1.86%-1.97%-0.63%
Fidelity VIP Investment Grade Bond 3
05/01/985.83%3.94%1.55%1.75%4.27%3.99%
Fidelity VIP Mid Cap 2,3
05/01/0125.25%-6.53%-3.54%4.55%--6.96%
Fidelity VIP Overseas 3,4
05/01/9814.06%-11.52%-7.95%2.66%-0.09%0.47%
Lord Abbett VC Growth & Income 3
09/01/987.66%-15.81%-11.11%-2.32%1.20%8.92%
Lord Abbett VC International 2,3,4
09/01/9938.29%5.41%-9.46%3.88%0.15%0.25%
Lord Abbett VC Mid-Cap Value 2,3
09/01/9911.28%-14.30%-11.36%-2.78%5.83%5.40%
MFS® VIT Growth Series  2,3,4
09/01/9820.14%-8.31%-1.79%2.91%-2.40%5.89%
MFS® VIT Investors Trust Series  
09/01/9811.65%-13.23%-6.06%0.80%-0.99%5.05%
MFS® VIT New Discovery Series  2,3
09/01/9845.59%3.05%-1.59%2.82%2.99%3.88%
MFS® VIT Research Series  3,5
09/01/9815.10%-12.89%-5.54%1.03%-1.10%4.94%
PIMCO VIT High Yield 
05/01/0323.57%6.69%-1.07%1.62%--3.50%
PIMCO VIT Low Duration 
05/01/033.23%3.75%2.71%2.00%--1.75%
PIMCO VIT Real Return 
05/01/037.10%-0.14%1.76%1.94%--3.26%
PIMCO VIT Total Return 
05/01/034.46%8.93%5.40%4.10%--3.91%
Van Eck Worldwide Hard Assets Fund  4,12
05/01/0238.99%-6.69%5.79%16.17%--15.80%
Van Eck Worldwide Real Estate Fund  
11/01/0229.00%-22.08%-15.46%0.19%--7.22%
Midland National Money Market Funds
Inception Date
7-Day Current Yield8
Fidelity VIP Money Market 3,7,*
05/01/98-8.51%

Guarantees are based on the claims-paying ability of Midland National.

Footnotes:

1. These investment portfolios are offered in connection with Midland National's Variable products. They are not the same as retail mutual funds with similar names available for direct purchase by the general public.

2. This portfolio invests in small- and medium-sized companies at risk for greater volatility than other larger company stock-type portfolios.

3. VP refers to American Century Variable Portfolios. VIP refers to Fidelity Variable Insurance Products Fund. V.I. refers to AIM Variable Investment Funds. VIT refers to a MFS Variable Insurance Trust and PIMCO Variable Insurance Trust.

4. This portfolio is subject to special risks due to currency exchange rates, foreign taxation, economic and political environments, and differences in auditing and financial standards.

5. This portfolio is subject to the risks of investing in low-grade corporate bonds that have a higher default risk, less liquidity and greater sensitivity to changes in the economy than investment-grade securities.

6. This portfolio invests at least 80% of its assets in common stocks of companies that compose the S&P 500® Index in an attempt to mirror the investment performance of the index over the long term. It is unlikely a perfect correlation will be achieved. "Standard & Poor's®" and "S&P 500®" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Midland National Life Insurance Company. The product is not sponsored, endorsed, sold or promoted by Standard & Poor's, and Standard & Poor's makes no representation regarding the advisability of investing in the product.

7. The money market 7-day current yield is computed as follows: The fund's average daily net income per share during the 7-day period is divided by the average daily price per share during the period. The result is multiplied by 365, with the resulting annualized yield carried to the nearest 1/100th of 1%.

8. This portfolio is subject to the risks of concentrating a portfolio in a specific sector of the market. An investment in this division is subject to value fluctuations directly related to the condition or performance of the companies that make up the market segment represented and offer less diversification than divisions that include investments in companies from across several market segments.

9. This portfolio invests in Hard Asset securities, which may be subject to greater risks and market fluctuations than other investments with more diversified portfolios. Some of these risks include: volatility of energy and basic materials prices; possible instability of the supply of various Hard Assets; the risks generally associated with extraction of natural resources; actions and changes in government which could affect the production and marketing of Hard Assets; and greater price fluctuation that may be experienced by Hard Asset securities than the underlying Hard Asset.

10. The yield quotation more closely reflects the current earnings of the fund than the total return quotation.

11. Returns also reflect Surrender Charges for the first eight years. Surrender Charges would apply only in the event of a contract surrender at the end of the applicable period. No Surrender Charge will be assessed upon: (a) payment of death benefits; or (b) exercise of the free look right.

12. The Average Annual Total Returns without Surrender Charges represent past performance based on a $1,000 hypothetical investment and reflect deduction of the following insurance charges: 1.25% for the Mortality and Expense Risk Charge and 0.15% for the Administration Fee. The returns also reflect an annual maintenance fee of $35. This maintenance fee is based on the average Accumulation Value on 12/31/2003 of policies with less than $50,000, and is calculated at $35/$13,200 or 0.27% annually.

13. Returns do not reflect applicable Surrender Charges. If reflected, the surrender charges would reduce the performance quoted.

14. As required by regulations, the Standardized Average Annual returns with Surrender Charges represent past performance based on a $1,000 hypothetical investment and reflect deduction of the following insurance charges: 1.25% for the Mortality and Expense Risk Charge and 0.15% for the Administration Fee. The returns also reflect an annual maintenance fee of $35. This maintenance fee is based on the average Accumulation Value on 12/31/2003 of policies with less than $50,000, and is calculated at $35/$13,200 or 0.27% annually.

15. Investing in mid-sized companies involves greater risk not associated with investing in more established companies. The fund may invest up to 25% of its assets in securities on non-U.S. issuers that presents risks not associated with investing solely in the United States. Securities of Canadian issuers and American Depositary Receipts are not subject to this 25% limitation.

16. Portfolio turnover is greater than most funds, which may affect performance.

17. Effective October 15, 2004, the name INVESCO VIF Financial Services Fund was changed to AIM VI Financial Services Fund; and the name INVESCO VIF Health Sciences Fund was changed to AIM VI Health Sciences Fund.

18. Class O Shares

19. These funds invest in derivatives which are subject to a number of risks, such as liquidity risk, interest rate risk, market risk, credit risk, and management risk and funds investing in derivative instruments could lose more then the principal amount invested.

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The initial offering of the Variable Annuity II was May 1, 1998. The investment results shown represent historical returns based upon the assumption that the Variable Annuity II was available for the periods shown. Past performance is no guarantee of future results. The return and principal value of an investment in any of the portfolios will fluctuate so that the value, when redeemed, may be worth more or less than its original cost. Except where noted, investment results include all charges and expenses for the base contract, including a contingent deferred surrender charge (which declines from a maximum of 8%). Withdrawals prior to age 59 1/2 may be subject to IRS penalties.

Variable Insurance products are not bank deposits, and are not insured by the FDIC, NCUA, or other regulatory agencies. They are not obligations of or guaranteed by the financial institution or other affiliated entities, and are not a condition of a loan. These products are subject to market risks and may lose value, including loss of principal.

Fees and charges would have reduced the performance shown.

Withdrawals prior to age 59 1/2 may be subject to a 10% federal tax penalty.

DISTRIBUTION: The Variable Annuity II is issued on form A057A1 or appropriate state variation.

The broker/dealer for Midland National's variable products is Sammons Securities Co.®, member FINRA/SIPC. Sammons Securities Co.® is a registered broker/dealer under the Securities Exchange Act of 1934. Sammons Securities Co.® is an indirect wholly owned subsidiary of Sammons Enterprises, Inc., of Dallas, Texas, the ultimate parent company of Midland National.

This contract, its features and riders may not be available in all states. This material is authorized for distribution to prospective investors only when preceded or accompanied by the current prospectus. Variable annuity products such as the Variable Annuity II have limitations. Not all investment advisors or Separate Account portfolios are available in every state. For costs and complete details of coverage, contact the marketing department.

VARIABLE ANNUITIES ARE SUITABLE FOR LONG TERM INVESTING, SUCH AS RETIREMENT PLANING, AND ARE SUBJECT TO MARKET RISK.

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