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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.

 

 

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