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.
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.