Annuity

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).

Prudential: Closing the Retirement Income Gender Gap

Women continue to face a much greater challenge than men when it comes to retiring with lifetime financial security. Prudential research indicates that the retirement account balances of female employees, on average, are one-third lower than their male counterparts. Add into the mix lower average Social Security benefits and longer life expectancies, and it becomes clear why women are projected to have much lower income to sustain them throughout retirement.

The challenges facing women in achieving a secure retirement are daunting, but plan sponsors can help close the retirement income gender gap through customized plan design, participant engagement programs, and holistic education that focuses on participants’ financial wellness.

While detailing the women’s financial experience this report provides insights that can help employers improve the retirement security of all their employees, while also achieving better business outcomes.

Read Report

North American Annuity Rates to Increase April 25th

Rate Change  Effective 4-25-17

Annuity rates improve on select strategies, including S&P 500® monthly and annual index cap rates on these fixed index annuities:
• NAC RetireChoice®
• NAC IncomeChoice®
• NAC BenefitSolutions®

Fixed rates will increase on their traditional fixed annuity as well:
• NAC FoundationChoice Plus

Rate Information Available HERE.

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