North American NAC Guarantee Plus 3
More rates from North American Life
The North American Life NAC Guarantee Plus 3 is a single premium, fixed annuity with a three-year rate lock. After the three-year term, owners have a 30-day window to withdraw, transfer, annuitize, or renew their entire contract value. If no action is taken, a new annuity term with new surrender charges will begin per the contract stipulations Lower rates are available for deposits between $20K-$99.9K while amounts between $100K-$2mil receive the highest rate. This contract accepts both qualified and non-qualified funds and is RMD-friendly. Current company practice allows for free interest withdrawals in the first 12 months. There are no surrender charges upon passing. Surrender charges can be waived if the insured is confined to a nursing home.AM Best Rating
A+ Superior (2nd of 13 ratings)
Company Website
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
Rates
| 4.45% | $100,000 | — | $2,000,000 |
| 4.05% | $20,000 | — | $99,999 |
Term
3 Years
Minimum Investment
$100,000
Maximum Investment
$2,000,000 without prior approval
Maximum Age
90
Surrender Schedule
9%, 8%, 7%, 0%
What We Like About This Annuity
Issued by a strong A+ rated company doing business for over 100 years. No surrender charges at passing. Flexible free interest withdrawal options. Spousal continuance options.
Notable Features
At no cost, this policy includes a Nursing Home rider. It waives all surrender charges if owner is confined in a qualified facility for over 90 consecutive days.
Other Popular Products
North American offers very competitive fixed-indexed annuities with upfront and ongoing premium bonuses. Additionally, their single premium life insurance is popular for wealth transfer and tax avoidance.
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North American Life
About North American Company
With offices in West Des Moines, IA, and Sioux Falls, SD, North American Life is well-known in the life and annuity marketplace. They and their sister company, Midland National Life, are part of the even larger Sammons Financial Group.
Founded in 1886, North American is one of the oldest insurance carriers available to consumers. With an A+ rating and $40 billion under management, consumers can confidently place their insurance business with a tried and true company.
Fixed & Indexed Annuities and Life Insurance Coverage
Consumers and agents both value North American for their diverse insurance offerings. Their Multi-Year Guaranteed Annuities (MYGAs) offer competitive rates while their indexed annuities offer some of the highest premium bonuses available.
Beyond that, their innovative products are designed to meet consumers’ needs with non-qualified stretch accounts, RMD distributions, and estate planning. Their fixed and single-premium life insurance plans are also very competitive for legacy planning and wealth transfer.