Annuity

New MYGA from North American to Launch October 26, 2021

Effective Oct. 26, North American is launching NAC Guarantee PlusSM, a multi-year guarantee annuity (MYGA), which will replace North American Guarantee ChoiceSM multi-year guarantee annuity.

With the launch of NAC Guarantee Plus, we’re hoping to provide greater flexibility for consumers. Here are a few details highlighting the enhancements….

  • Guarantee periods: 3-, 5-, and 7-year available. (10-year option not available.)1
  • Re-entry option: Renewal options available for your clients when the guarantee period is up, including the option to re-enter a 3-, 5-, or 7-year guarantee period. (See brochure for full details.)
  • Penalty-free withdrawals:2 Equal to the interest earned in the previous contract year.

Get training now

Visit RegEd to take the required NAC Guarantee Plus product training

(Code 21SFGNAC_02)

Get NAC Guarantee Plus materials now

Brochure (most states)
Brochure (CA, FL, DE)
Disclosure (most states)
Disclosure (CA, FL, DE)
Disclosure (ID, also required)
Quick reference guide

New business guidelines

The new MYGA applies to applications signed on or after Oct. 26, or submitted through e-App on or after Oct. 26.

NAC Guarantee Plus replaces North American Guarantee Choice

To receive the current North American Guarantee Choice product, applications must be signed before Oct. 26, or submitted through e-App before 11:59 p.m. Central Time Oct. 25.

 

1. For California, Florida and Delaware, NAC Guarantee Plus 7 is not available. A surrender during the surrender charge period could result in a loss of premium. Surrender charges and market value adjustment may reset with renewal. Surrender charge structures and guarantee periods may vary by state.
2. Withdrawals taken prior to age 59 1/2 may be subject to IRS penalties.

 

 

American National Announces Merger

Brookfield Asset Management Reinsurance Partners to Acquire American National in $5.1 Billion Transaction

BROOKFIELD, NEWS, Aug. 9, 2021 (GLOBE NEWSWIRE) – American National Group, Inc. (“American National”) (NASDAQ:ANAT), and Brookfield Asset Management Reinsurance Partners Ltd. (“Brookfield Reinsurance”) (NYSE:BAMR; TSX:BAMR), today announced they have entered into a definitive merger agreement whereby Brookfield Reinsurance will… READ MORE

Important: Ohio National Announces Strategic Transaction with Constellation

From Barbara Turner, President and Chief Executive Officer, “Today marks a very important day in our 111-year history.

Over the years, we have taken deliberate steps to position our business for growth, including providing value to our policyholders, supporting you and your independence to build your business your way, offering quality products and services to meet your clients’ needs, and strengthening our balance sheet and risk profile. More recently, together we have faced some difficult moments including prolonged and historic low interest rates, market volatility, regulatory changes, and of course, a global pandemic.

Through it all, and with your help, we have strengthened the Company and solidified our market position. Our work together has laid the groundwork for this announcement today…”

Please read the rest of the announcement HERE.

Press release can be found HERE.

Additional information regarding policyholder notification to follow.

Important: Annuity Product Changes from North American

A series of year-end product moves will help make it easier to position the North American fixed index annuity line-up.

Effective Jan. 1, 2020 the following will be discontinued:

  • NAC BenefitSolutions® 14 (10-year still available)
  • Performance Choice® 12 and 12 Plus (8 and 8 Plus still available)
    REMINDER: As of Sept. 24, Performance Choice 8 and 8 plus minimum premium is $20,000 (qualified and non-qualified)
  • NAC RetireChoice® 10 (NAC VersaChoice® 10 still available)
  • Income Pay® Plus (Income Pay® in Pennsylvania), optional guaranteed lifetime withdrawal benefit (GLWB) rider

More information available HERE.

American National: MYGA Rate Increase in September!

Please click HERE for September rates. The Palladium MYG 6 is now 3.35% guaranteed for 6 Years (at $100k premium and greater)! And the Palladium MYG 7 now has a 4.44% guaranteed effective annualized yield for 7 years (at $100k premium or greater).

Load More