North American NAC Guarantee Plus 7
Current Fixed Rates Bands
Rate Effective Date August 6, 2026
The North American Life NAC Guarantee Plus 7 is a single premium, fixed annuity with a seven-year rate lock. After the seven-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.
More Annuity options from: North American Life
Notable Features
At no cost, this policy includes a Nursing Home rider. It waives all surrender charges if the owner is confined in a qualified facility for over 90 consecutive days.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
7 Years
Free Withdrawals Yr1 / Yr2+
0% / Interest
Additional Withdrawal Information
This policy allows for penalty-free withdrawals of interest earned in the prior contract year. Under current company practice, free interest withdrawals are also allowed in the first year. This contract is RMD-friendly for IRA accountholders as well.
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 4%, 3%, 0%
Maximum Age
90
Minimum Investment
$100,000
Maximum Investment
$2,000,000
What We Like About This Annuity
Issued by a strong A+ rated company doing business for over 100 years. There are no surrender charges upon the passing of the owner. Flexible free interest withdrawal options are included as well as spousal continuance options.
Other Popular Products
North American offers very competitive MYGAs, Immediate, and fixed-indexed annuities with upfront and ongoing premium bonuses. Additionally, their single-premium life insurance is popular for wealth transfer and tax avoidance.
About North American Life
North American Life
AM Best Rating: A+ Superior (2nd of 13 ratings)
https://www.northamericancompany.com/
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 from AM Best, Fitch, and Standard & Poor’s and $40 billion under management, consumers can confidently place their insurance business with a tried-and-true company. They also boast an 89 Comdex rating.
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.