North American | IMPORTANT: Details on Product Changes Effective January 1

November 20, 2019

North American

Due to a continued low interest rate environment and change in the prescribed rates required to determine reserves insurers must hold, we are making changes on new business for the following fixed index annuities:

  • NAC IncomeChoice® 10
    • Lifetime payment percentages (LPPs) are decreasing 10 bps
    • Guaranteed lifetime withdrawal benefit (GLWB) bonus is
      decreasing from 5% to 2%
  • NAC BenefitSolutions® 10
    • Lifetime payment amounts (LPAs) are decreasing
  • Strategic Design Annuity X
    • Rider charge increases from .95% to 1.15%
    • Guaranteed lifetime withdrawal benefit (GLWB) value rollup
      decreases from 200% to 150%

Materials will be updated and distributed mid-December.

Get Your Business in Now!

To receieve the current rates/ products, contracts must be FULLY FUNDED and issued by December 31, 2019.

IMPORTANT – New Business Guidelines

Contracts must be FULLY FUNDED and issued by December 31, 2019

To receive current rates/products, all pending business for the impacted products must be FULLY FUNDED and issued on or before Dec. 31, 2019.

If the application is received in 2019, but the funds are received in 2020, the owner(s) and agent must submit the new disclosure, re-date and initial the application for Jan. 1, 2020 or later, receiving the new rates.

Contact a Pinnacle Representative if you have any questions.

1 (800) 772-6881


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