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North American Charter® Plus 10 fixed index annuity | Issued by North American Company for Life and Health Insurance®
Annuity
Build your retirement foundation
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Chart your own road to retirement. For many people, retirement is viewed as a time of rest and reflection. They have worked hard and planned diligently to ensure retirement is not “the end” but instead a new beginning. Offices and work schedules are to be replaced with road trips and clear calendars. Others, however, are seeing retirement in a different light. Multiple recessions, an uncertain Social Security future and a daily fluctuating market have created doubt about retirement readiness. Protection from loss is an important piece of an overall retirement plan. And fixed index annuities such as the North American Charter Plus® 10 offer premium protection from market decreases with the potential for growth.
The North American Charter Plus 10 is a flexible premium, fixed index annuity (FIA) that offers you growth potential but also premium protection from losses due to downside market fluctuations without directly investing in the stock market. An FIA provides the potential for interest to be credited based in part on the performance of specific indices.
Key benefits of Charter Plus 10 • Give your retirement savings a jumpstart with an immediate premium bonus • The optional enhanced bonus rider (EBR) provides an enhanced premium bonus (in exchange for a rider charge). (feature not available in all states, EBR not available in all states) • Choose from multiple index strategies, including enhanced crediting methods offering greater upside potential* • Tax deferral, income for life, and full accumulation value at death *In exchange for a strategy charge.
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What sets Charter® Plus 10 apart
Up to 19% total immediate premium bonus To get a head start on your retirement savings, North American credits you a base premium bonus, which multiplies any additional premium 1 you put into your policy during the first three years by a specified premium bonus percentage. Plus, you can get an immediate boost on your retirement savings right from the start with an enhanced premium bonus percentage available through the optional enhanced bonus rider (for a charge).
Enhanced bonus (with EBR, for charge)
Total immediate bonus (if EBR elected)
Premium
Base bonus
7%
9%
16%
$20,000-$74,999
10%
9%
19%
$75,000+
Additional premium The premium bonus is credited to your accumulation value upon issue and is applied to the accumulation value when additional premiums 1 are received during the first three years. All additional premiums 1 will initially be credited a fixed interest rate, which will be guaranteed until the end of the contract year, and declared at the time the additional premium is received. On each contract anniversary, North American will allocate any premiums received since the prior contract anniversary, according to your most recent instructions. It’s important to note, the surrender charge is based off initial premium only, so there’s no rolling surrender charge. The base premium bonus percentage differs by the amount of initial premium.
For premium under $75,000, the base premium bonus is 7%, instead of 10%. The enhanced premium bonus percentage is 9% for all premium 1 received in the first three years, if the optional enhanced bonus rider is elected. Products that have premium bonuses and enhanced premium bonuses may offer lower credited interest rates, lower index cap rates, lower participation rates, and/or greater index margins than products that don’t offer a premium bonus or enhanced premium bonus. Over time and under certain scenarios, the amount of the premium bonus may be offset by lower credited interest rates, lower index cap rates, lower participation rates, and/or greater index margins. Issue ages (may vary by state) Available issue ages 0-79 (qualified and non-qualified). For issue ages 0-17, a Uniform Gift to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) custodial account must be established. Minimum premium Flexible premium, $20,000 non-qualified and qualified initial premium.
How it works
Base premium bonus applied to all premium 1 in first three years
Enhanced premium bonus applied to all premium 1 in first three years (with EBR, for charge)
Total premium bonus percentage (if EBR elected)
Premium timing
Premium amount 1
Bonus amount
$19,000
At issue
$100,000
$950 $950 $950
Year 1 Year 2 Year 3 Year 4
$5,000 $5,000 $5,000 $5,000
10%
9%
19%
$0
0%
0%
0%
$21,850
Total: $120,000
Total premium amount plus bonus: $141,850
Hypothetical examples are for illustrative and educational purposes only and not intended to predict future performance. The use of alternate assumptions could produce significantly different results. 1. Any additional premium(s) are subject to a maximum additional premium requirement.
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Add the optional enhanced bonus rider (EBR) for a charge to gain an enhanced premium bonus. The EBR can only be elected at product issue. EBR not available in all states 9% enhanced premium bonus Get an additional 9% premium bonus on top of the base premium bonus on any premiums 1 received in the first three contract years. Products that have premium bonuses or enhanced premium bonuses may offer lower credited interest rates, lower index cap rates, lower participation rates and/or greater index margins than products that don’t offer a premium bonus or enhanced premium bonus. Over time and under certain scenarios the amount of the premium bonus may be offset by the lower credited interest rates, lower index cap rates, lower participation rates and/or greater index margins. 1. Any additional premium(s) are subject to a maximum additional premium requirement. Optional enhanced bonus rider
Rider charge is 0.95% of accumulation value at each contract anniversary during the surrender charge period. This rider charge is considered a penalty-free withdrawal, and does not reduce the penalty-free withdrawal available to you. The rider charge, under certain scenarios, may result in loss of premium. For AK, CT, DE, HI, ID, IN, MD, MN, MO, MT, NJ, NV, OH, OK, OR, PA, TX, UT, VA, and WA, the EBR can be terminated at any time upon written notification. Upon termination, the rider charge will no longer be deducted from the accumulation value and the total premium bonus, including the base bonus, will be recaptured pursuant to the bonus recapture schedule. Additionally, upon termination, the contract will no longer receive a premium bonus on subsequent flexible premiums. For all other states, the EBR cannot be terminated.
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Additional product features
Interest crediting Fixed and index account options offer upside potential without downside market risk. Liquidity options Provides access to your accumulation value when you need it most. Tax deferral improves growth potential Your annuity’s value grows on a tax-deferred basis, meaning more of it is working for you. Tax-deferred growth means you don’t owe taxes until you access funds, allowing more time for growth potential. Work with your tax advisor to find out how this might work for you. Under current law, annuities grow tax deferred. An annuity is not required for tax deferral in qualified plans. Annuities may be subject to taxation during the income or withdrawal phase. Please note that neither North American, nor any financial professionals acting on its behalf, should be viewed as providing legal, tax or investment advice. Consult with and rely on your own qualified advisor. Provide a lasting legacy Charter Plus includes a death benefit, which can provide your beneficiary your annuity’s full accumulation value or minimum surrender value as of the date of death, whichever is greater. Your beneficiaries receive the greater of the remaining accumulation value or minimum surrender value as of the date of death, of your annuity as a death benefit – either in a lump sum or in installments. The death benefit may be reduced for any applicable premium taxes at death as required by the state of residence. For joint owners, the death benefit is paid upon first death of an owner, unless the sole Beneficiary is the spouse, in which case the spouse may elect spousal continuance and can continue this contract as the new owner. For joint annuitants, the death benefit is paid upon the second death of an annuitant. Please consult with and rely on your own legal or tax advisor. Lifetime income Through your election of an annuity payout option, North American can provide you with a guaranteed income stream with the purchase of your tax-deferred annuity. You have the ability to choose from several different annuity payout options, including life or a specified period. Once a payout option is elected it cannot be changed and all other rights and benefits under the annuity end.
Contract values Accumulation value
The accumulation value is 100% of premium, allocated to the fixed and indexed account option plus any applicable base premium bonus or enhanced premium bonus (if EBR is elected) less any withdrawals plus any interest credits. The accumulation value will be reduced by the amount of any withdrawals (including any rider or strategy charges), but cannot decrease due to negative index performance. Full surrender – surrender value If you decide to surrender or terminate your Annuity Contract, the surrender value is the amount that is available to you as a lump sum. The surrender value is equal to the accumulation value, subject to market value adjustment (MVA), less applicable surrender charges, premium bonus recapture, and applicable state premium taxes. The surrender value will never be less than the minimum requirements set forth by state law, at the time of issue, in the state where the Annuity Contract is delivered or issued for delivery. The minimum surrender value will never be less than 87.5% of all premiums less any surrenders (after MVA or reduction for surrender charges and premium bonus recapture) accumulated at a rate not less than the rate required or otherwise directed by your Annuity Contract.
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Did you know? How transfers work
How your annuity can grow Charter Plus 10 has a strategy and index account option to suit your style: • Whether you like to take charge of your financial choices or prefer to set it and forget • Whether you’re interested in a fixed return, hoping for more growth potential or a combination
Set your strategy You have total control over how your initial premium is allocated between our fixed account or index accounts. Choose from several crediting methods (more details on the following pages): • Monthly Point-to-Point with Index Cap Rate • Annual Point-to-Point with Index Cap Rate • Annual Point-to-Point with Participation Rate • Annual Point-to-Point with Enhanced Participation Rate (includes charge 1 ) • Two-year Point-to-Point with Participation Rate • Two-year Point-to-Point with Enhanced Participation Rate (includes charge 1 ) • Fixed account 2 1. Known as a strategy fee annual percentage in the contract. In exchange for the charge, you receive an enhanced participation rate. The charge is multiplied by the number of years in the crediting term and is deducted once each term from the accumulated value allocated to the enhanced participation rate method. The charge will be deducted once each term at the earliest of any partial withdrawal that exceeds the penalty-free amount, a full surrender or the end of the term. The strategy charge will be deducted regardless of the interest credited to the contract and can lead to loss of premium in certain scenarios. 2. The declared fixed rate is an annual effective rate. Interest is credited to the fixed account daily. You may elect to transfer your values between the fixed account and index account options after the first contract year for the annual index strategies (or every two years if you choose the Two-year Point-to-Point strategy). You may also elect to transfer between options annually (or every two years for amounts allocated to the two-year strategy). Based on current tax laws, these transfers between options will not be taxable or subject to surrender penalties. Transfers must be specified dollars or whole percentages (no decimals).
Lock in interest credits each contract anniversary
One advantage of fixed index annuities is a reset feature, which applies to this annuity no matter which crediting method you choose. With the reset, any interest credits are added, or credited, to your accumulation value on each contract anniversary. For the Two-year-Point-to-Point option, this reset happens at the end of each two-year term, instead of annually. Once credits are added, they’re locked in. That means they can’t be taken away due to negative index performance. At that point, they are included in your accumulation value, giving you the advantage of compounding interest in subsequent years. Also, by resetting your starting index value at the same time, this feature can help minimize your risk if the index experiences a severe downturn. Without it, you’d have to wait for the index value to climb up to its original level before any interest credit could be realized.
Each index and the index account options on the next page may perform differently in various market scenarios.
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How your annuity can grow
Unlock greater upside potential with enhanced crediting methods In exchange for a strategy charge, you’ll unlock additional opportunity. The charge is deducted from your accumulation value at the end of each term and is guaranteed to stay the same for the life of the contract. The charge will also be deducted at the time of a full surrender and at the time of a partial withdrawal that exceeds the penalty-free withdrawal amount.
Experience protection with accumulation value (“AV”) true-up 3 If interest credited over your contract term is less than the total strategy charges, there could be a loss of premium. To help protect the premium, your Charter Plus 10 fixed index annuity includes AV true-up, which provides a one- time benefit amount of the excess, if any, of total strategy charges since issue over total interest credited since issue at the end of the Surrender Charge Period. AV true-up is not available if you take excess penalty-free withdrawals. 3. Known as guaranteed accumulation value true-up endorsement in your contract.
Set your strategy In addition to the fixed account, here are available crediting methods.
Diversify the premium among the following index account options Crediting methods* (subject to factor below) Index availability* Monthly Point-to-Point (subject to an index cap rate) • S&P 500® Annual Point-to-Point (subject to an index cap rate) • S&P 500®
• S&P 500® • S&P MARC 5% ER
• Fidelity Multifactor Yield Index 5% ER • Morgan Stanley Dynamic Global Index • Goldman Sachs Equity TimeX Index
Annual Point-to-Point (subject to participation rate)
• Barclays Transitions 6 VC • Barclays Transitions 12 VC
• Fidelity Multifactor Yield Index 5% ER • Morgan Stanley Dynamic Global Index
Annual Point-to-Point with Enhanced Participation (subject to participation rate and charge)
• S&P 500® • S&P MARC 5% ER
• Fidelity Multifactor Yield Index 5% ER • Morgan Stanley Dynamic Global Index • Goldman Sachs Equity TimeX Index
Two-year Point-to-Point (subject to a participation rate)
• Barclays Transitions 6 VC • Barclays Transitions 12 VC
• Fidelity Multifactor Yield Index 5% ER • Morgan Stanley Dynamic Global Index
Two-year Point-to-Point with Enhanced Participation (subject to participation rate and charge)
* Index(es) and strategies may not be available in all states. In your contract the applicable period of time for your crediting method is referred to as a “term”.
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Pick from a wide variety of index * options (continued on next page)
Barclays Transitions 6 VC Index TM (BXIITR6E) The Barclays Transitions 6 VC Index TM (the “Index”) starts its allocation with exposure to broad US equities and then uses trend signals to determine the allocation amongst fixed income, commodities and cash for diversification. The goal is to follow the equities market and capture as much upside as possible. The Index is rules-based and aims to limit its annual volatility to a 6% target using Barclays proprietary intraday forecasting volatility technology. Barclays Transitions 12 VC Index TM (BXIITR12) The Barclays Transitions 12 VC Index TM (the “Index”) starts its allocation with exposure to broad US equities and then uses trend signals to determine the allocation amongst fixed income, commodities and cash for diversification. The goal is to follow the equities market and capture as much upside as possible. The Index is rules-based and aims to limit its annual volatility to a 12% target using Barclays proprietary intraday forecasting volatility technology.
Barclays Transitions Indices featuring exclusive Dynamic Trend Rotation TM*
The Barclays Transitions Indices start by offering 60% fixed equity exposure and feature the exclusive “Dynamic Trend Rotation TM ” to help manage risk. Using Dynamic Trend Rotation, the remaining 40% is allocated daily into one of three combinations (called “Trend Scenes”). This allows the index exposure to shift completely out of bonds when interest rates are rising and gain additional exposure to commodities during inflationary environments. Dynamic Trend Rotation TM allows the index to manage risk during changing marketing conditions in real time based on rules, not discretion.
* Past index performance is not intended to predict future performance. Ask your financial professional for the current rates and minimum index cap rates, minimum participation rate and fixed account interest rate.
Index options continued
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Additional index * options
S&P 500® Index (SPX) Widely regarded as the best single gauge of the large cap U.S. equities market since the index was first published in 1957. The index includes 500 leading companies in leading industries of the U.S. economy. S&P Multi-Asset Risk Control 5% Excess Return Index (S&P MARC 5% ER) (SPMARC5P) The S&P MARC 5% ER Index is a multi-asset excess return index that strives to create more stable index performance through diversification, an excess return methodology, and volatility management. The index manages volatility by adjusting the allocations among multiple asset classes and by allocating to cash in certain market environments. The index is managed to a 5% volatility level. Goldman Sachs Equity TimeX Index (GSEQTMX) The Goldman Sachs Equity TimeX Index (the “Index”) is a rules-based strategy designed to provide long-only exposure to an equity component (the SPDR® S&P® 500 ETF). The Index’s exposure to the equity component is dynamically adjusted each index business day based on certain market signals, including calendar based signals and price patterns, subject to an exposure floor, an exposure cap, and a rebalancing cap. The Index applies a daily volatility target, which can further increase or decrease the Index’s exposure to the equity component. The Index is calculated on an excess return basis, and is subject to servicing and rebalancing costs and a deduction rate of 0.50% per annum (accruing daily).
Fidelity Multifactor Yield Index SM 5% ER (FIDMFYDN) The Fidelity Multifactor Yield Index 5% ER (the “Index”) is a multi-asset , rules-based index that blends a multifactor equity starting universe with U.S. Treasuries, and uses a dynamic allocation approach that seeks to reduce volatility and deliver a more consistent investment experience over time. The starting portfolio is a combination of 6 factors with pre-determined weights and a tilt towards high dividend yielding companies. A fixed income overlay is applied, and the volatility levels of the combined portfolio are analyzed daily and components are adjusted to meet a 5% volatility target. Morgan Stanley Dynamic Global Index (MSUSMSDG) The Morgan Stanley Dynamic Global Index (MSDG) allocates across global assets with the goal of achieving diversified exposure across and within equities, fixed income and commodities. Moreover, the Index methodology includes provisions intended to address the unique risk and return characteristics of each asset class when re-allocating exposure during changing market conditions. The Index is rules-based and targets a 5% annual realized volatility with the intention of (i) reducing allocations to preserve gains during periods of high volatility and (ii) increasing leverage to capture returns when volatility decreases.
*Past index performance is not intended to predict future performance. Ask your financial professional for the current rates and minimum index cap rates, minimum participation rate and fixed account interest rate.
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Options for accessing funds Penalty-free withdrawals
Market value adjustment with external index
Like most annuities, you’ll be limited in when and how much you can withdraw from your annuity penalty- free. After the first contract anniversary, a penalty-free withdrawal (also known as a penalty-free partial surrender), of up to 10% of the accumulation value may be taken each year. If you withdraw more than the penalty-free withdrawal, a surrender charge, market value adjustment, and premium bonus recapture may apply and the AV true-up feature will terminate. After the surrender charge period, surrender charges, premium bonus recapture and a market value adjustment no longer apply to any withdrawals. Withdrawals may be treated by the government as ordinary income. If taken before age 59 1/2, you may also have to pay a 10% IRS penalty. Withdrawals will reduce your accumulation value accordingly.
Your contract also includes a market value adjustment feature—which may decrease or increase your surrender value depending on the change in the index value of the market value adjustment external index since your annuity purchase. Due to the mechanics of a market value adjustment, surrender values generally decrease as the market value adjustment external index rises or remains constant. When the market value adjustment external index decreases enough over time, the surrender value generally increases. However, the market value adjustment is limited to the surrender charge or the interest credited to the accumulation value. This adjustment is applied only during the market value adjustment period to surrenders exceeding the applicable penalty-free allowance.
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Your annuitization payout options You can choose to receive annuity payments based on your choice of several annuity options. Once you elect an annuitization option, it cannot be changed, and all other rights and benefits under the annuity end. The payment amount and number of payments will be based on your annuity’s surrender value and the annuitization option you choose (state variations may exist). See table on right for available payout options. Nursing home confinement waiver (not available in MA) After the first contract anniversary, if the annuitant becomes confined to a qualified nursing care center, as defined in the rider, up to 100% of the accumulation value is available each year while the annuitant is confined. If 100% of the accumulation value is taken, it will be considered a full surrender. The annuitant cannot be confined at the time the contract is issued. This rider is automatically included with the annuity at no additional charge. If joint annuitants are named on the annuity, the rider will apply to the first annuitant who qualifies for the benefit.
Payout options
With the exception of life income options, income options are available from five to 20 years. Choose from:
• Income for a specified period • Income for a specified amount • Life income with a period certain • Life income • Joint and survivor life income
For Florida: You may select an annuity payout option based on the accumulation value at any time after the first
contract year. Choose from:
• Life income • Life income with a 10-year period certain • Life income with a 20-year period certain • Joint and survivor life income • Joint and survivor life income with a 10- or 20-year period certain
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Surrender charges During the surrender charge period, a surrender charge is assessed on any amount withdrawn, whether as a partial or full surrender, that exceeds the penalty-free amount and may result in a loss of premium. Additional premiums deposited into existing contracts will maintain the surrender charge schedule set forth at contract issue date. Certain payout options may incur a surrender charge and premium bonus recapture (if applicable). Market value adjustments
Premium bonus recapture provision A premium bonus will be credited on premium 1 received during the first three contract years. During the surrender charge period, withdrawals in excess of the penalty-free allowance or a full surrender will incur a premium bonus recapture. This is in addition to any applicable surrender charges and/or market value adjustments. This recapture schedule is set at issue and applies to the total premium bonus. Premium bonus recapture Contract year 10-year 1 100% 2 90% 3 80% 4 70% 5 60% 6 50% 7 40% 8 30% 9 20% 10 10% 11+ 0% Premium bonus recapture state variations
apply during the surrender charge period. Surrender charge schedule Contract year 10-year 1 10% 2 10% 3 9% 4 9% 5 8% 6 8% 7 7% 8 6% 9 4% 10 2% 11+ 0% Surrender charge schedule state variations
10-year AK, CT, DE, HI, ID, IN, MD, MN, MO, MT, NJ, NV, OH, OK, OR, PA, SC, TX, UT, VA, WA
Contract year
10-year AK, CT, DE, HI, ID, IN, MD, MN, MO, MT, NJ, NV, OH, OK, OR, PA, SC, TX, UT, VA, WA
Contract year
1
90% 80% 70% 60% 50% 40% 30% 20% 10%
2 3 4 5 6 7 8 9
1
9%
2 3 4 5 6 7 8 9
8.5% 7.5% 6.5% 5.5% 4.5% 3.5%
3% 2%
10
5%
11+ 0% Premium bonus recapture may vary by state. The premium bonus is not recaptured in the event of death of the annuitant. No premium bonus recapture will occur on any penalty-free withdrawal amount, or under the nursing home confinement waiver. 1. Any additional premium(s) are subject to a maximum additional premium requirement.
10
1%
11+ 0% A surrender during the surrender charge period could result in a loss of premium. Surrender charges may vary by state.
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The road ahead For many, finding new sources of supplemental retirement income is no longer a luxury but a necessity. Fixed index annuities have become an attractive option to many retirees and pre-retirees as they begin to prepare for the road ahead. North American seeks to provide fixed index annuity solutions that offer you a solid foundation toward a confident retirement. Talk to your licensed insurance professional about how a North American fixed index annuity can be customized to fit your unique needs, including the option of additional riders.
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Sammons Financial® is the marketing name for Sammons® Financial Group, Inc.’s member companies, including North American Company for Life and Health Insurance®. Annuities and life insurance are issued by, and product guarantees are solely the responsibility of, North American Company for Life and Health Insurance. This brochure is for solicitation purposes only. Please refer to your contract for any other specific information. With every contract that North American Company for Life and Health Insurance Company issues there is a free-look period. This gives you the right to review your entire contract and if you are not satisfied, return it and have your premium returned. Fixed index annuities are not a direct investment in the stock market. They are long term insurance products with guarantees backed by the issuing company. They provide the potential for interest to be credited based in part on the performance of specific indices, without the risk of loss of premium due to market downturns or fluctuation. Although fixed index annuities guarantee no loss of premium due to market downturns, deductions from the accumulation value for optional benefit riders or strategy fees or charges associated with allocations to enhanced crediting methods could exceed interest credited to the accumulation value, which would result in loss of premium. They may not be appropriate for all clients. Interest credits to a fixed index annuity will not mirror the actual performance of the relevant index. The term financial professional is not intended to imply engagement in an advisory business in which compensation is not related to sales. Financial professionals that are insurance licensed will be paid a commission on the sale of an insurance product. A.M. Best is a large, third-party independent reporting and rating company that rates an insurance company on the basis of the company’s financial strength, operating performance, and ability to meet its obligations to policyholders. S&P Global Ratings is an independent, third-party rating firm that rates on the basis of financial strength. Ratings shown reflect the opinions of the rating agencies and are not implied warranties of the company’s ability to meet its financial obligations. The ratings apply to North American’s financial strength and claims-paying ability. A) A.M. Best rating affirmed on August 29, 2023. For the latest rating, access ambest.com. B) Awarded to North American as part of Sammons® Financial Group Inc., which consists of Midland National® Life Insurance Company and North American Company for Life and Health Insurance®. C) S&P Global rating assigned Feb. 26, 2009 and affirmed on May 24, 2023. D) Fitch Ratings, a global leader in financial information services and credit ratings, on Nov. 30, 2023, assigned an Insurer Financial Strength rating of A+ Stable for North American. This rating is the fifth highest of 19 possible rating categories. The rating reflects the organization’s strong business profile, low financial leverage, very strong statutory capitalization and strong operating profitability supported by strong investment performance. For more information access fitchratings.com. The North American Charter® Plus 10 is issued on form NA1007A/ICC16-NA1007A.MVA (contract), ICC23-AE674A / AE674A, ICC23-AE675A / AE675A, AE577A/ICC15-AE577A, AE578A/ ICC16-AE578A, AE580A.PB/ICC16-AE580B.PB, AE583A/ICC15-AE583A, AE584A/ICC15-AE584A, AE587A/ICC15-AE587A, AE641A/ICC20-AE641A, AE642A/ICC20-AE642A, and AE665A/ICC22- AE665A (riders/endorsements) or appropriate state variation by North American Company for Life and Health Insurance®, West Des Moines, IA. This product, its features and riders may not be available in all states. Premium taxes: accumulation value and surrender value will be reduced for any applicable premium taxes as required by the state of residence. All rates and features are subject to change. Please consult your financial professional for the current information. Special notice regarding The use of a living trust as owner or beneficiary of this annuity. The use of living trusts in connection with an annuity contract can be a valuable planning mechanism. However, a living trust is not appropriate when mass-produced in connection with the sale of an insurance product. We strongly suggest you seek the advice of your qualified legal advisor concerning the use of a trust with an annuity contract. Premium bonus Products that have premium bonuses may offer lower credited interest rates, lower index cap rates, lower participation rates and/or greater index margins than products that don’t offer a premium bonus. Over time and under certain scenarios the amount of the premium bonus may be offset by the lower credited interest rates, lower index cap rates, lower participation rates and/ or greater index margins. Neither North American, nor any financial professionals acting on its behalf, should be viewed as providing legal, tax or investment advice. Consult with and rely on a qualified advisor. Under current law, annuities grow tax deferred. Annuities may be subject to taxation during the income or withdrawal phase. The tax-deferred feature is not necessary for a tax-qualified plan. In such instances, you should consider whether other features, such as the death benefit, lifetime annuity payments, and any other features make the contract appropriate for your needs. Withdrawals taken prior to age 59 1/2 may be subject to IRS penalties. The “S&P 500®” and “S&P Multi-Asset Risk Control 5% Excess Return Index” (“the Indices”) are products of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and have been licensed for use by North American Company for Life and Health Insurance® (“the Company”). S&P®, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). It is not possible to invest directly in an index. The Company’s Products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or any of their respective affiliates (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of the Company’s Products or any member of the public regarding the advisability of investing in securities generally or in the Company’s Products particularly or the ability of the Indices to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices’ only relationship to the Company with respect to the Indices is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/ or its licensors. The Indices are determined, composed and calculated by S&P Dow Jones Indices without regard to the Company or the Company’s Products. S&P Dow Jones Indices has no obligation to take the needs of the Company or the owners of the Company’s Products into consideration in determining, composing or calculating the Indices. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of the Company’s Products. There is no assurance that investment products based on the Indices will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment adviser, commodity trading advisory, commodity pool operator, broker dealer, fiduciary, “promoter” (as defined in the Investment Company Act of 1940, as amended), “expert” as enumerated within 15 U.S.C. § 77k(a) or tax advisor. Inclusion of a security, commodity, crypto currency or other asset within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, commodity, crypto currency or other asset, nor is it considered to be investment advice or commodity trading advice. S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE INDICES OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY THE COMPANY, OWNERS OF THE COMPANY’S PRODUCTS, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDICES OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. S&P DOW JONES INDICES HAS NOT REVIEWED, PREPARED AND/OR CERTIFIED ANY PORTION OF, NOR DOES S&P DOW JONES INDICES HAVE ANY CONTROL OVER, THE COMPANY’S PRODUCTS REGISTRATION STATEMENT, PROSPECTUS OR OTHER OFFERING MATERIALS. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND THE COMPANY, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.
25304Z-1
14
REV 1-24
The Fidelity Multifactor Yield Index SM 5% ER (the “Index”) is a multi-asset index, offering exposure to companies with attractive valuations, high quality profiles, positive momentum signals, lower volatility and higher dividend yield than the broader market, as well as U.S. treasuries, which may reduce volatility over time. Fidelity and its related marks are service marks of FMR LLC. Fidelity Product Services LLC (“FPS”) has licensed this index for use for certain purposes to North American Company for Life and Health Insurance® (the “Company”) on behalf of the Product. The Index is the exclusive property of FPS and is made and compiled without regard to the needs, including, but not limited to, the suitability needs, of the Company, the Product, or owners of the Product. The Product is not sold, sponsored, endorsed or promoted by FPS or any other party involved in, or related to, making or compiling the Index. The Company exercises sole discretion in determining whether and how the Product will be linked to the value of the Index. FPS does not provide investment advice to owners of the Product, nor to any other person or entity with respect to the Index and in no event shall any Product contract owner be deemed to be a client of FPS. Neither FPS nor any other party involved in, or related to, making or compiling the Index has any obligation to continue to provide the Index to the Company with respect to the Product. Neither FPS nor any other party involved in, or related to, making or compiling the Index makes any representation regarding the Index, Index information, performance, annuities generally or the Product particularly. Fidelity Product Services LLC disclaims all warranties, express or implied, including all warranties of merchantability or fitness for a particular purpose or use. Fidelity Product Any product that is linked to the performance of the index is not sponsored, endorsed, sold or promoted by Morgan Stanley & Co. LLC, or any of its affiliates (collectively, “Morgan Stanley”). Neither Morgan Stanley nor any other party (including without limitation any calculation agents or data providers) makes any representation or warranty, express or implied, regarding the advisability of purchasing this product. In no event shall Morgan Stanley have any liability for any special, punitive, indirect or consequential damages including lost profits, even if notified of the possibility of such damages. The index is the exclusive property of Morgan Stanley. Morgan Stanley and the index are service marks of Morgan Stanley and have been licensed for use for certain purposes. Neither Morgan Stanley nor any other party has or will have any obligation or liability to owners of this product in connection with the administration or marketing of this product, and neither Morgan Stanley nor any other party guarantees the accuracy and/or the completeness of the index or any data included therein. No purchaser, seller or holder of this product, or any other person or entity, should use or refer to any Morgan Stanley trade name, trademark or service mark to sponsor, endorse, market or promote this product, without first contacting Morgan Stanley to determine whether Morgan Stanley’s permission is required. Under no circumstances may any person or entity claim any affiliation with Morgan Stanley without the prior written permission of Morgan Stanley. In calculating the performance of the index, Morgan Stanley deducts, on a daily basis, a servicing cost of 0.50% per annum. This reduces the positive change or increase the negative change in the index level and thus decreases the return of any product linked to the index. The volatility control calculation applied by Morgan Stanley as part of the index’s methodology may decrease the index’s performance and thus the return of any product linked to the index. In addition, because the volatility control calculation is expected to reduce the overall volatility of the index, it will also reduce the cost of hedging certain products linked to the index. Goldman Sachs Equity TimeX Index This Index does not include dividends paid by the underlying companies. Services LLC shall have no responsibility or liability whatsoever with respect to the Product. Morgan Stanley Dynamic Global Index (the “Index”) is the property of Morgan Stanley & Co. LLC. The North American Company for Life and Health Insurance® fixed indexed annuity product (“Annuity Product”) is not sponsored, endorsed, sold, guaranteed, underwritten, distributed or promoted by Goldman Sachs & Co. or any of its affiliates (including Goldman Sachs Asset Management, L.P.), with the exception of any endorsement, sales, distribution or promotion of this product that may occur through its affiliates that are licensed insurance agencies (excluding such affiliates, individually and collectively, “Goldman Sachs”) or its third-party data providers. Goldman Sachs is a trademark of Goldman Sachs and has been licensed for use by North American Company for Life and Health Insurance® (the “Company”). Goldman Sachs and its third-party data providers make no representation or warranty, express or implied, regarding the advisability of investing in annuities generally or in Fixed Indexed Annuities or the investment strategy underlying the Company’s Annuity Product, particularly, the ability of the Goldman Sachs Equity TimeX Index (the “Index”) to perform as intended, the merit (if any) of obtaining exposure to the Index or the suitability of purchasing or holding interests in the Annuity Product. Goldman Sachs and its third-party data providers do not have any obligation to take the needs of the holders of the Annuity Product into consideration in determining, composing or calculating the Index. GOLDMAN SACHS DOES NOT GUARANTEE THE ADEQUACY, TIMELINESS, ACCURACY AND/ OR COMPLETENESS OF THE INDEX OR OF THE METHODOLOGY UNDERLYING THE INDEX, THE CALCULATION OF THE INDEX OR ANY DATA SUPPLIED BY IT FOR USE IN CONNECTION WITH THE ANNUITY PRODUCT. GOLDMAN SACHS HEREBY EXPRESSLY DISCLAIMS ANY AND ALL LIABILITY FOR DETERMINING, COMPOSING OR ANY OTHER ASPECTS OF THE DESIGN OF THE INDEX AND ANY RELATED INTELLECTUAL PROPERTY. GOLDMAN SACHS HEREBY EXPRESSLY DISCLAIMS ANY AND ALL LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN OR IN THE CALCULATION THEREOF. GOLDMAN SACHS EXPRESSLY DISCLAIMS ALL LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGE EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. THIRD-PARTY DATA IS USED UNDER LICENSE AS A SOURCE OF INFORMATION FOR THE INDEX. THIRD-PARTY PROVIDER HAS NO OTHER CONNECTION TO THE INDEX OR GOLDMAN SACHS SERVICES AND DOES NOT SPONSOR, ENDORSE, RECOMMEND OR PROMOTE THE INDEX OR ANY GOLDMAN SACHS SERVICES. THIRD-PARTY PROVIDER HAS NO OBLIGATION OR LIABILITY IN CONNECTION WITH THE INDEX OR GOLDMAN SACHS SERVICES. THIRD-PARTY PROVIDER DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF ANY MARKET DATA LICENSED TO GOLDMAN SACHS AND SHALL NOT HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN THIRD-PARTY PROVIDER AND GOLDMAN SACHS. Neither Barclays Bank PLC (“BB PLC”) nor any of its affiliates (collectively, “Barclays”) is the issuer or producer of fixed index annuities and Barclays has no responsibilities, obligations or duties to policyholders in fixed index annuities. The Barclays Transitions 12 VC Index TM and the Barclays Transitions 6 VC Index TM (the “Indexes”), together with any Barclays indices that are components of the Index is licensed for use by North American Company for Life and Health Insurance (“NACOLAH”) as the issuer or producer of fixed index annuities (the “Issuer”). Barclays’ only relationship with the Issuer in respect of the Index is the licensing of the Index, which is administered, compiled and published by BB PLC in its role as the index sponsor (the “Index Sponsor”) without regard to the Issuer or the fixed index annuities or policyholders in the fixed index annuities. Additionally, the Issuer may for itself execute transaction(s) with Barclays in or relating to the Index in connection with fixed index annuities. Policyholders acquire fixed index annuities from the Issuer and policyholders neither acquire any interest in the Index nor enter into any relationship of any kind whatsoever with Barclays upon making a purchase in fixed index annuities. Fixed index annuities are not sponsored, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of the fixed index annuities or use of the Index or any data included therein. Barclays shall not be liable in any way to the Issuer, policyholders or to other third parties in respect of the use or accuracy of the Index or any data included therein.
25304Z-1
15
REV 1-24
North American is a Sammons Financial Group company. We are committed to our customers, distribution partners, employees and communities – and the deeply rooted belief that we grow stronger together. With so much change happening in the world, people are looking for companies that can stand the test of time. They need a partner that can weather life’s storms. That’s us. For over a century, we have been here for our customers and honoring our commitments. And because we’re privately owned, we don’t measure our impact by the number of years we’ve been in business, investor goals or size of the company. We are proud of our impact of the financial futures we help secure, and the legacies we help establish. We believe that we aren’t here to serve just today’s customers, but customers for generations to come. As we look ahead to our next hundred years, that fundamental principle remains rich in its vision. No matter how much change happens in the world around us, we strive to find new ways to create value for our customers. Just like always.
North American has continued to earn high ratings, based on our financial strength, operating performance, and ability to meet obligations to our policyholders and contract holders. North American currently holds the following ratings: “ A+ ” A.M. Best A,B (Superior) (Second category of 15) S&P Global Ratings B,C (Strong) (Fifth category of 22) Fitch Ratings D (Stable) (Fifth category of 19)
Ratings are subject to change.
Not FDIC/NCUA Insured Not A Deposit Of A Bank Not Bank Guaranteed
West Des Moines, Iowa NorthAmericanCompany.com
May Lose Value
Not Insured By Any Federal Government Agency
25304Z-1
16
REV 1-24
Annuity
Not available for use in CA
North American Charter® Plus 10 fixed index annuity
Issued by North American Company for Life and Health Insurance®
1% premium bonus 1 increase special now available for a limited time.
Immediate bonus Up to 11% premium bonus (10% base premium bonus plus 1% premium bonus special) 1 on all premiums received in first three years. Plus, get an additional 9% enhanced premium bonus with the optional enhanced bonus rider (EBR - for a cost 2 . EBR is not available in all states). The special is considered part of the base premium bonus. (All bonuses may be subject to a premium bonus recapture 1 ) Upside growth potential Index options from strong financial brands: Morgan Stanley, Fidelity, S&P, Goldman Sachs, and Barclays. (may vary by state.)
Up to 20 index account options available • 18 uncapped (subject to participation rate or enhanced participation rate 3 ) • 6 volatility control indexes Liquidity options • 10% annual penalty-free withdrawal 4 of accumulation value starting in year two
• 100% of accumulation value available if confined to qualified care facility (not available in all states)
West Des Moines, IA | NorthAmericanCompany.com
28760Z-10
Page 1 of 2
REV 4-19-24
This marketing material may not be available for use in all states. Sammons Financial® is the marketing name for Sammons® Financial Group, Inc.’s member companies, including North American Company for Life and Health Insurance®. Annuities and life insurance are issued by, and product guarantees are solely the responsibility of, North American Company for Life and Health Insurance. Fixed index annuities are not a direct investment in the stock market. They are long term insurance products with guarantees backed by the issuing company. They provide the potential for interest to be credited based in part on the performance of specific indices, without the risk of loss of premium due to market downturns or fluctuation. Although fixed index annuities guarantee no loss of premium due to market downturns, deductions from your accumulation value for optional benefit riders or strategy fees or charges associated with allocations to enhanced crediting methods could exceed interest credited to the accumulation value, which would result in loss of premium. They may not be appropriate for all clients. Interest credits to a fixed index annuity will not mirror the actual performance of the relevant index. The North American Charter® Plus 10 is issued on form NA1007A/ICC16-NA1007A.MVA (contract), ICC23-AE674A / AE674A, ICC23-AE675A / AE675A, AE577A/ICC15-AE577A, AE578A/ICC16- AE578A, AE580A.PB /AE580B.PB/ICC16-AE580B.PB, AE583A/ICC15-AE583A, AE584A/ICC15-AE584A, AE587A/ICC15-AE587A, AE641A/ICC20-AE641A, AE642A/ICC20-AE642A, and AE665A/ ICC22-AE665A (riders/endorsements) or appropriate state variation by North American Company for Life and Health Insurance®, West Des Moines, IA. This product, its features and riders may not be available in all states. 1. Assumes 1% premium bonus special on the North American Charter Plus 10. The premium bonus increase may be modified or discontinued at any time without notice. All decisions are at the sole discretion of North American and all decisions are final. No exceptions will be made. Premium bonus and enhanced premium bonus may vary by annuity product, premium band and surrender charge period selected and may be subject to a premium bonus and enhanced premium bonus recapture. Products that have premium bonuses may offer lower credited interest rates, lower index cap rates, lower participation rates and/or greater index margins than products that don’t offer a premium bonus and enhanced premium bonus. Over time and under certain scenarios the amount of the premium bonus may be offset by the lower credited interest rates, lower index cap rates, lower participation rates and/or greater index margins. 2. EBR can only be elected at product issue. Rider charge is 0.95% of accumulation value at each contract anniversary during the surrender charge period. This rider charge is considered a penalty-free withdrawal, and does not reduce the penalty-free withdrawal available to you. The rider charge, under certain scenarios, may result in loss of premium. 3. Enhanced Participation Rate includes a strategy charge for a higher participation rate and is known as a “Strategy Fee Annual Percentage” in the contract. The charge will be deducted once each term at the earliest of a full surrender, at the time of a partial withdrawal that exceeds the penalty-free withdrawal amount or the end of the term. The charge will be deducted from the accumulated value allocated to the enhanced participation rate method. The strategy charge will be deducted regardless of the interest credited to the contract and can lead to loss of premium. The annual charge is multiplied by two for the two year crediting strategy. 4. Withdrawals taken prior to age 59½ may be subject to IRS penalties. The term financial professional is not intended to imply engagement in an advisory business in which compensation is not related to sales. Financial professionals that are insurance licensed will be paid a commission on the sale of an insurance product.
Talk to your financial professional for details.
West Des Moines, IA | NorthAmericanCompany.com
28760Z-10
Page 2 of 2
REV 4-19-24
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