North American | Product Changes Effective September 24
Reminder! As we and other carriers weather this extraordinary, and rapidly-declining low-rate environment, we must make changes to our product portfolio. Effective Sept. 24, we’ll make the following changes to these fixed index annuities:
- North American Charter® Plus 10 high-brand premium bonus changing from 7% to 6%. Low-band from 5% to 4%¹ (NO CHANGE on the 14-year 10% premium bonus)¹.
- Performance Choice® 8 Plus premium bonus changing from 3% to 2%.
- Performance Choice 12 Plus premium bonus changing from 3% to 2%. (for North Dakota from 5% to 2%).
- Performance Choice minimum premium increasing to $20,000 (qualified and non-qualified).
- NAC IncomeChoice®, NAC BenefitSolutions®, and Strategic Design AnnuitySM X lifetime payment percentages (LPPs) decrease.
Deadline: September 23rd
To receive current LPPs and premium bonuses, applications must be received in the Home Office by 5 p.m. (Central Time) or submitted through e-App by 11:59 p.m. (Central Time) Sept. 23.
Get Updated Material Below or Access via Our Website on September 24th
Premium Bonus Changes
Minimum Premium Change
(on both Plus and Non-Plus Versions)
LPA Quick Reference Guide
FOR FINANCIAL PROFESSIONAL USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
Insurance products issued by North American Company for Life and Health Insurance®, 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. 1. Premium bonus may vary by annuity product, premium band and surrender charge period selected and may be subject to a premium bonus recapture. Products that have premium bonuses may offer lower credited interest rates, lower index cap rates, lower participation rates and/or greater index margins than products that don’t offer a premium bonus. Over time and under certain scenarios the amount of the premium bonus may be offset by the lower credited interest rates, lower index cap rates, lower participation rates and/or greater index margins.