North American Benefit Solutions Index Annuity

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Annuity

NAC BenefitSolutions® 10 fixed index annuity | Issued by North American Company for Life and Health Insurance®

Your retirement. Your benefits.

25436Z

REV 8-23

25436Z

REV 8-23

Many Americans are concerned about safeguarding their current savings and finding ways to secure lifetime income for their future. Today, 76% of Americans say protecting their retirement nest egg/account is important to them. In addition, 77% of Americans say it is important that they don’t outlive their income in retirement. 1 In the past, many companies offered defined benefit pension plans that were set up, funded, and managed by the employer. These retirement plans could typically provide a comfortable lifestyle throughout retirement, especially when combined with Social Security income. Unfortunately, these types of retirement plans have all but disappeared. The disappearance of defined benefit plans, coupled with an unsettled Social Security program, has left many who are approaching retirement at a loss for what to do in terms of long term income and ensuring that funds will be available in case of other pressing needs. There are many potential options available when it comes to retirement saving. But it can be difficult at best to know which way to turn when juggling between growing your nest egg, while at the same time protecting premium in an unsure market. When you choose a solution, it is important to work with a trusted and highly-rated insurance company. Companies proving financial strength and stability can help provide a clear picture for your long-term retirement outlook.

1. “Annuities, Retirement, and the Pandemic” – Assessing America’s Readiness study performed by IALC http://fiainsights.org/wp-content/uploads/2018/02/V1-IALC-Overview-Brochure-06-21-1.pdf

25436Z

REV 8-23

The unique benefits of a fixed index annuity

Choosing the right accumulation vehicle for retirement can be a tough choice. With so many potential options, how can you be sure you’re doing what’s best? On the one hand, safety and guarantee of premium are key - especially in light of the recent market downturns. Yet, without market related growth, how can you keep your portfolio on pace with future inflation? In the past, you could typically only receive one or the other - either safety with low return, or a higher potential for return that also came coupled with more risk. Now, however, fixed index annuities provide the best of both worlds - protection of premium from downside market risk along with market linked growth potential. This, coupled with guaranteed lifetime payments and additional benefits for qualifying nursing home care can make the NAC BenefitSolutions 10 annuity an ideal choice.

Who may benefit from a fixed index annuity? Although NAC BenefitSolutions 10 may not be the ideal solution for everyone, people who may benefit most from this annuity include those who are seeking: • Guaranteed income that cannot be outlived. • A way to help with possible nursing home care or other expenses. • Death benefit protection to leave a legacy for your beneficiaries.

25436Z

REV 8-23

Death benefit Should the annuitant or owner die, provided no payout option has been elected, annuity contracts generally pay out the full accumulation value: the premiums paid less withdrawals plus any interest earned at that time. Beneficiaries may choose how they receive the death benefit, in a lump sum or a series of income payments. Tax deferral improves growth potential The 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. Additional benefits

May avoid probate By naming a beneficiary, you may minimize the delays, expense and publicity often associated with probate. Your designated beneficiary receives death proceeds in either a lump sum or a series of payments. Please consult with and rely on your own legal or tax advisor. Lifetime income North American can provide you with a guaranteed income stream with the purchase of a 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 all other rights and benefits under the contract terminate. Issue ages (may vary by state) Available issue ages 40-79 Minimum premium Single premium, $20,000

What is the NAC BenefitSolutions 10? The NAC BenefitSolutions 10 is an innovative single premium fixed index annuity created with you, the consumer, in mind. Designed as an annuity contract and benefit rider combination, this unique retirement product offers a central benefit base to ensure you receive benefits for life. NAC BenefitSolutions 10 can help to offer you financial security and confidence by generating benefits you can count on during retirement: • Lifetime payments • Enhanced payments for qualified nursing home care • Death benefit An annual rider cost is calculated by multiplying a charge percentage by the benefit base on the contract anniversary. The rider cost is 1.20% of benefit base, deducted from your accumulation value on each contract anniversary until either your contract or benefits rider terminates. This rider may be terminated any time after the surrender charge period. On the 10th contract anniversary, if you have not taken any withdrawals (excluding any rider charges) and your accumulation value is less than your premium, your accumulation value will be increased to the premium amount. Although fixed index annuities guarantee no loss of premium due to market downturns, deductions from your accumulation value for benefits rider costs could under certain scenarios exceed interest credited to your accumulation value, which would result in loss of premium. The benefits rider costs will continue under the spousal continuance feature. If you terminate the benefits rider, you will not be reimbursed for the costs previously incurred. For purposes of the built-in rider, the owner and the annuitant must be the same. If there are joint owners, they must also be joint annuitants. Joint annuitants must be spouses. If the owner is not a natural person, the annuitant(s) are considered covered person(s) under the built-in rider. Change of ownership is only allowed when changing from a non-natural owner to the annuitant(s) or pursuant to spousal continuance provisions of the Contract and this rider.

25436Z

REV 8-23

The key three Summary of rider benefits With NAC BenefitSolutions 10, a trilogy of benefits are available that can cover a variety of retirement needs including: Lifetime payments With a major concern of retirees today being that of outliving their savings, the NAC BenefitSolutions 10 annuity can provide the ability to receive an ongoing stream of retirement income for life - regardless of how long that may be. Although defined benefit pension plans may be disappearing, the Guaranteed Benefit Statement that you receive with a NAC BenefitSolutions 10 annuity offers you clarity by showing your long-term income guarantee, and providing you and/or your spouse with the surety of a retirement paycheck for life. Nursing home multiplier (nursing home multiplier is not available in California ) As Americans’ life expectancy continues to increase, the need for nursing home care also tends to rise - and the cost of this care has gone up at an unprecedented rate. Your NAC BenefitSolutions 10 annuity can help with these or other expenses through the nursing home multiplier (referred to as the LPA multiplier in your benefits rider), which doubles your lifetime payment amount for up to five years. Death benefit (this benefit varies by state) In all states EXCEPT AK, CT, DE, HI, ID, IL, LA, MD, MN, MO, NJ, OR, PA, UT, VA and WA, should the unexpected occur, the value of your NAC BenefitSolutions 10 annuity will not be lost. In this case, a named beneficiary would receive the accumulation value as a lump sum, or they could choose the rider death benefit and receive the benefit base paid in five annual payments if death occurs after the first contract year. If you have taken no withdrawals (other than rider charges), your beneficiaries are guaranteed the option to take a lump sum death benefit that is no less than your premium. 1 In the states of AK, CT, DE, HI, ID, IL, LA, MD, MN, MO, NJ, OR, PA, UT, VA and WA , should the unexpected occur, the value of your NAC BenefitSolutions 10 annuity will not be lost. In this case, a named beneficiary would receive the accumulation value as a lump sum. If death occurs after the second contract anniversary, they could instead choose the rider death benefit and receive the lesser of the benefit base or the rider death benefit maximum, paid in five annual payments. If you have taken no withdrawals (other than rider charges), your beneficiaries are guaranteed the option to take a lump sum death benefit that is no less than your premium. Your beneficiaries must choose (and will receive) only one death benefit option. Note: For purposes of the built-in rider, the owner and the annuitant must be the same. If there are joint owners, they must also be joint annuitants. Joint annuitants must be spouses. If the owner is not a natural person, the annuitant(s) are considered covered person(s) under the built-in rider. Change of ownership is only allowed when changing from a non-natural owner to the annuitant(s) or pursuant to spousal continuance provisions of the Contract and this rider. You have the option to terminate this rider after the surrender charge period. However, terminating this rider forfeits access to the benefit base and lifetime payment amounts. Termination of the rider will not automatically terminate the contract. Once terminated, this rider cannot be reinstated and you will not be reimbursed for charges previously incurred. 1. The rider death benefit is not life insurance. Upon payout of the death benefit, the growth may be taxed to your beneficiary as ordinary income. 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.

25436Z

REV 8-23

The guaranteed benefits statement A guide to your retirement benefits Each year (prior to beginning lifetime payments) when you receive your guaranteed benefits statement, you’ll know exactly where you stand in terms of your benefit base, lifetime payment amounts, nursing home multiplier and death benefit with NAC BenefitSolutions 10. It is our way of bringing clarity to your retirement.

8300 Mills Civic Parkway West Des Moines, IA 50266 NorthAmericanCompany.com

Annuity

Your guaranteed benefits statement

NAC BenefitSolutions ® 10 fixed index annuity

Benefit Statement Date:

Contract Number:

August 9, 2022

123456789

Covered Persons:

Covered Persons Ages:

Sixty Five Male Sixty Five Female

65 65

Initial Premium:

Issue Date:

$100,000.00

August 9, 2022

Issue State:

Lifetime Payment

Rider Death Benefit

Anniversary Date (Date Benefits Available)

Joint Covered Person Age on Anniversary Date

Covered Person Age on Anniversary Date

Deferral Year

Lifetime Payment Amount $4,724 $4,878 $5,008 $5,141 $5,278 $6,563 $6,737 $6,916 $7,100 $7,289 $8,372 $8,414 $8,456 $8,498 $8,626 $8,755 $8,886 $9,020 $9,155 $9,292 $9,432 $9,573 $9,741 $9,911

Death Benefit Annual Payment (5 Equal Payments)

Nursing Home Multiplier Payment Amount**

Benefit Base*

At Issue 1/1/15

65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88

$125,000 $125,000 $125,000 $125,000 $125,000 $150,000 $150,000 $150,000 $150,000 $150,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000

$9,448 $9,756 $10,016 $10,282 $10,555 $13,126 $13,475 $13,833 $14,201 $14,578 $16,744 $16,827 $16,912 $16,996 $17,251 $17,510 $17,772 $18,039 $18,310 $18,584 $18,863 $19,146 $19,481 $19,822

N/A

1 2 3 4 5 6 7 8 9

1/1/16 1/1/17 1/1/18 1/1/19 1/1/20 1/1/21 1/1/22 1/1/23 1/1/24 1/1/25 1/1/26 1/1/27 1/1/28 1/1/29 1/1/30 1/1/31 1/1/32 1/1/33 1/1/34 1/1/35 1/1/36 1/1/37 1/1/38

$25,000 $25,000 $25,000 $25,000 $30,000 $30,000 $30,000 $30,000 $30,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000

10 11 12 13 14 15 16 17 18 19 20 30 40 55

This hypothetical example is provided only to show a representation of the guaranteed benefits statement. Not intended to predict future results.

7 The Lifetime Payment and Rider Death Benefit values provided are current as of the Guaranteed Benefits Statement Date. The values assume no interest has been credited to the contract and that no withdrawals are taken from your contract. Prior to electing Lifetime Payment Amounts, withdrawals from your contract will reduce the Lifetime Payment and Rider Death Benefit values. Once you have started Lifetime Payment Amounts (“LPAs”), the LPA is locked in, assuming no excess withdrawals are taken, and the LPAs listed above for future Contract Years no longer apply. Any LPAs taken will reduce the Benefit Base and Rider Death Benefit values. Your Guaranteed Benefits Statement reflects benefits of the Rider. Base contract benefits are not shown here.

25436Z

REV 8-23

Optimizing your retirement benefits through your benefit base Since your LPAs are calculated from your benefit base it is important to understand what the benefit base is and its two key features – benefit base increases and the benefit base floor. Your personalized lifetime payment amounts (LPAs) are based on your benefit base, age at issue, years of deferral until you elect to begin payments and election of single or joint LPAs. Once you have elected your LPA, it cannot increase but could potentially decrease due to partial surrenders that exceed your LPA. LPAs can begin at age 50. Provided you are at least age 50 at issue, LPAs are available in the first contract year. NAC BenefitSolutions 10 provides lifetime payments that can help assure a retirement where you have: • Guaranteed lifetime payment amounts, with growth potential • Guarantees and surety that your lifetime payments will last throughout retirement 1 Lifetime payments

lls Civic Parkway es Moines, IA 50266 mericanCompany.com teed benefits statement

fitSolutions ® 10 nuity

Benefit base 1 The benefit base is the amount used to calculate rider benefits under the terms of the contract. The benefit base is not part of your annuity’s accumulation value and cannot be taken as a surrender. At issue, the benefit base equals the benefit base floor and may grow based upon any benefit base increases. Your personalized lifetime payment amounts (LPAs) are based on your benefit base, age at issue, years of deferral until you elect to begin payments and election of single or joint LPAs. The benefit base is less any proportional adjustments for partial surrenders, plus benefit base increases, and never less than the benefit base floor adjusted for partial surrenders. August 9, 2022

Benefit base increase On each contract anniversary during the first 20 contract years, a benefit base increase, equal to 100% of the weighted average percentage change in the fixed and indexed accounts during the preceding contract year, may be added to the benefit base. Please refer to the “Benefit base increase” flyer for more information on this feature.

Contract Number:

Covered Persons Ages:

1. Your benefit base will be reduced for any withdrawals taken either before or after lifetime payment amounts begin. If you take a withdrawal, including LPAs, your benefit base will be reduced by the same percentage withdrawn from your accumulation value. Your benefit base is not reduced by withdrawals for benefits rider costs. Sixty Five Male Sixty Five Female $100,000.00 IA

Issue Date:

Augus

8300 Mills Civic Parkway West Des Moines, IA 50266 NorthAmericanCompany.com 8300 Mills Civic Parkway West Des Moines, IA 50266 NorthAmericanCompany.com

Annuity

Your guaranteed benefits statement Your guaranteed benefits statement

NAC BenefitSolutions ® 10 fixed index annuity Benefit Statement Date: August 9, 2022 NAC BenefitSolutions ® 10 fixed index annuity Lifetime Payment

Rider D

Joint Covered Person Age on Anniversary Date

rson Date

Covered Persons: Issue State: Lifetime Payment Amount Initial Premium: $4,724 Issue State: Deferral Year Anniversary Date (Date Benefits Available) At Issue 1/1/15 $4,878 1/1/16 1/1/17 1 2 Initial Premium:

August 9, 2022 Sixty Five Male Sixty Five Female Nursing Home Multiplier Payment Amount** Contract Number: $100,000.00 Covered Persons Ages: Issue Date: Contract Number:

123456789

Your lifetime payment snapshot Benefit Base* 65 $125,000

123456789 Benefit Base* 65 65

Covered Persons:

Benefit Statement Date:

August 9, 2022

Covered Persons Ages:

Sixty Five Male Sixty Five Female IA

65 65

Lifetime Payment $4,724 $9,756 Issue Date: Lifetime Payment $9,448 Lifetime Payment Amount

Rider Death Benefit

REV 8-23 $30,000 $35,000 $35,000 $35,000 $150,000 $150,000 $30,000 $30,000 $125,000 $30,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $125,000 Death Benefit Annual Payment (5 Equal Payments) $25,000 $25,000 $25,000 $125,000 N/A $25,000 $125,000 Death Benefit Annual Payment (5 Equal Payments) $125,000 $25,000 $30,000 $30,000 $30,000 $35,000 $35,000

$100,000.00

August 9, 2022

Joint Covered Person Age on Anniversary Date

Covered Person Age on Anniversary Date

Nursing Home Multiplier Payment Amount**

Benefit Base*

66 67 68 69 70 71

$125,000 $125,000 $125,000 $125,000 $150,000 $150,000

Rider Death Benefit N/A

$125,000 $125,000

$9,448 $9,756

$125,000 $125,000

Anniversary Date (Date Benefits Available)

Joint Covered Person Age on Anniversary Date 66 67 68

Covered Person Age on Anniversary Date 66 67

Lifetime Payment Amount $4,724 $4,878 $5,008

Deferral Year

Nursing Home Multiplier Payment Amount** $10,016 $10,282

Benefit Base* $125,000 $125,000 $125,000 $125,000

Benefit Base* $125,000 $125,000

8 $6,563 1/1/21 1/1/22 $5,278 1/1/23 1/1/24 1/1/25 1/1/26 1/1/27 $6,737 3 4 $5,008 1/1/18 1/1/19 $5,141 1/1/19 1/1/20 8 9 1/1/23 1/1/24 1/1/25 1/1/26 1/1/27 1/1/28 1/1/29 1/1/30 1/1/31 1/1/32 10 11 12 13 14 15 16 17

$5,278 $6,563 $8,372 $7,100 $7,289 $6,737 $6,916 $8,456 $10,555 $8,414 $8,498 $13,126 $7,100 $7,289 $8,626 $8,372 $8,414 $8,886 $8,456 $9,020 $13,475 $5,141 $5,278 $10,016 $10,282 $8,755

68 69

$9,448 $10,555

$125,000

At Issue 1/1/15

$125,000

This hypothetical example is provided only to show a representation of the guaranteed benefits statement. Not intended to predict future results. 1 1/1/16 66 66 $125,000 $4,878 $9,756 $125,000 $25,000 2 1/1/17 67 67 $125,000 $5,008 $10,016 $125,000 $25,000 3 1/1/18 68 68 $125,000 $5,141 $10,282 $125,000 $25,000 5 1/1/20 70 70 $150,000 $6,563 $13,126 $150,000 $30,000 6 1/1/21 71 71 $150,000 $6,737 $13,475 $150,000 $30,000 7 1/1/22 72 72 $150,000 $6,916 $13,833 $150,000 $30,000

73 74 75 76 77 78 79 80 81 82

$125,000 $150,000 $175,000 $150,000 $150,000 $175,000 $150,000 $150,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $150,000 $150,000 $175,000 $175,000 $175,000

$10,555 $13,126 $16,744 $13,475 $13,833 $16,912 $14,201 $14,578 $17,251 $16,744 $16,827 $17,772 $16,912 $18,039 $14,201 $14,578 $16,827 $16,996 $17,510

$150,000 $150,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000

4 5 6 7 8 9

69 70 71 72 73 74 75 76 77

$125,000 $150,000 $150,000 $150,000 $150,000 $150,000 $175,000 $175,000 $175,000

25436Z

10 11 12

Benefit base floor The NAC BenefitSolutions 10 is built upon strong guarantees and the benefit base floor is a great example. Your benefit base floor is contractually guaranteed and will automatically increase by a specified percentage on the fifth and 10th contract anniversaries. These benefit base “step ups” help ensure you have a strong foundation for your assets, whether it is for lifetime payments or a death benefit. It is important to note that any withdrawals, including Required Minimum Distributions (RMD), will reduce the benefit base floor by the same percentage withdrawn from your accumulation value. A foundation for your retirement benefits

150 175

125

175% of premium in Years 11+

150% of premium in Years 6-10

125% of premium in Years 1-5

Benefit base floor $175,000

Benefit base floor $150,000

Benefit base floor $125,000

Hypothetical example assumes $100,000 initial premium and no withdrawals.

A powerful combination Benefit base floor + benefit base increases The real power of the NAC BenefitSolutions 10 for you is during times when interest is credited to your contract, you see that growth build upon your benefit base floor providing both guarantees and growth potential for your retirement benefits.

25436Z

REV 8-23

Nursing home multiplier*

Double the lifetime payment amount when you need it the most With the nursing home multiplier feature, the lifetime payment amount on your NAC BenefitSolutions 10 annuity can be doubled if you become confined to a qualified nursing care center for a period of more than 90 consecutive days, and you remain confined to that nursing home in future contract years. This benefit is available as early as age 50, and it can be accessed for up to five annual payments. This benefit does not have to be utilized for a consecutive five year period. A unique way to control your future protection While nobody likes to think about it, the potential cost of nursing home care can take a substantial bite out of retirement savings. This, in turn, can have a negative effect on ongoing retirement income - especially in the case of married couples or partners. Many people believe that government programs like Medicare will pay for most or all of their long-term care expenses. However, this may not be the case. Another potential payment option is stand-alone long-term care insurance, although these policies can be expensive. By having the nursing home multiplier (referred to in the benefits rider as the LPA multiplier) on your NAC BenefitSolutions 10 Annuity, you have the option to receive an increased lifetime payment, if needed, to help with any unexpected expenses. Contract Number:

enefits statement

tions ® 10

August 9, 2022

123456789

Covered Persons Ages:

Sixty Five Male Sixty Five Female $100,000.00 IA

65 65

*nursing home multiplier is not available in California

Issue Date:

August 9, 2022

8300 Mills Civic Parkway West Des Moines, IA 50266 NorthAmericanCompany.com

Annuity

8300 Mills Civic Parkway West Des Moines, IA 50266 NorthAmericanCompany.com Your guaranteed benefits statement Annuity

Lifetime Payment

Rider Death Benefit

NAC BenefitSolutions ® 10 fixed index annuity Covered Persons: Sixty Five Male Sixty Five Female Benefit Statement Date: August 9, 2022 NAC BenefitSolutions ® 10 fixed index annuity

Your guaranteed benefits statement

on ate

Lifetime Payment Amount $4,724 $4,878 $5,008 $5,141 $5,278 $6,563 $6,737 $6,916

123456789 August 9, 2022 Death Benefit Annual Paymen (5 Equal Paymen 65 65 123456789

Nursing Home Multiplier Payment Amount**

Your nursing home multiplier snapshot Benefit Base* $125,000 $125,000

Covered Persons Ages: Benefit Base* Contract Number:

Benefit Statement Date: Initial Premium:

Contract Number: Issue Date:

August 9, 2022 $100,000.00

Issue State:

Anniversary Date (Date Benefits Available) 1/1/16 1/1/17 1/1/18 1/1/19 $10,016 Covered Person Age on Anniversary Date 67 68 65 66 $10,282 1/1/16 1/1/21 Covered Person Age on Anniversary Date $9,756 $9,448 Initial Premium: Issue State: Anniversary Date (Date Benefits Available) 65 66 69 70 71 Covered Persons:

Lifetime Payment $4,878 $125,000 $9,448 $9,756 $13,475 $125,000 Lifetime Payment Amount $4,724 $6,563 $4,878 $6,737 Covered Persons Ages: $125,000 $125,000 Issue Date: Lifetime Payment Lifetime Payment Amount $4,724 $9,448 $9,756 $10,016 $5,008 $5,141 $5,278 $10,555 $13,126

N/A

Sixty Five Male Sixty Five Female

65 65

August 9, 2022 Rider Death Benefit

Joint Covered Person Age on Anniversary Date

Deferral Year

$100,000.00

Death Benefit Annual Payment (5 Equal Payments)

$25,000 $25,000 $25,000 $25,000 $30,000 $30,000 $30,000

Nursing Home Multiplier Payment Amount**

Benefit Base*

At Issue 1/1/15

$125,000 $125,000 $125,000

N/A

Rider Death Benefit

$125,000 $125,000 $125,000 $150,000 $150,000 $150,000

Joint Covered Person Age on Anniversary Date 66 67 68

$25,000

Deferral Year 2

Death Benefit Annual Payment (5 Equal Payments) $25,000 $25,000 $25,000

Nursing Home Multiplier Payment Amount** $10,282

Benefit Base* $125,000

3 4

69 70 71

$125,000 $125,000 $150,000 $125,000 $150,000

At Issue 1/1/15 5 1/1/20

N/A $30,000 $30,000 $25,000

65 66

This hypothetical example is provided only to show a representation of the guaranteed benefits statement. Not intended to predict future results. 2 1/1/17 67 67 $125,000 $5,008 $10,016 $125,000 $25,000 3 1/1/18 68 68 $125,000 $5,141 $10,282 $125,000 $25,000 4 1/1/19 69 69 $125,000 $5,278 $10,555 $125,000 $25,000 7 1/1/22 72 72 $150,000 $6,916 $13,833 $150,000 $30,000 8 1/1/23 73 73 $150,000 $7,100 $14,201 $150,000 $30,000 9 1/1/24 74 74 $150,000 $7,289 $14,578 $150,000 $30,000 $10,555 $125,000 10 1/1/25 $175,000 $8,372 $16,744 $175,000 $35,000

5 6 11 7 8 13 9 14 15 16 17 12 18 19

1/1/20 1/1/21 1/1/26 1/1/27

70 71 72 73 74 75 76 77

70 71 72 73 74 75 76 77 78 79

$150,000 $150,000 $175,000 $150,000 $150,000 $175,000 $150,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000

$6,563 $6,737 $8,414 $8,456

$13,126 $13,475 $16,827 $13,833 $14,201 $16,996 $14,578 $16,744 $17,510 $16,827 $16,912 $18,039 $16,912 $17,251 $17,772

$150,000 $150,000 $175,000 $150,000 $150,000 $175,000 $150,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000

$30,000 $30,000 $35,000 $30,000 $30,000 $35,000 $30,000 $35,000 $35,000

75 76 77 78 79 80 81 82

75 76 77 78 79 80 81 82 83 84

1/1/22 1/1/23 1/1/28 $13,126 1/1/26 1/1/27 1/1/32 $13,475 1/1/24 1/1/25 1/1/30 1/1/29 1/1/31 1/1/28 1/1/29 1/1/34 $13,833 78 79 1/1/33 83 84

$6,916 $7,100 $8,498 $150,000 $8,414 $8,456 $9,020 $150,000 $7,289 $8,372 $8,755 $8,626 $8,886 $8,498 $8,626 $9,292 $150,000 $16,996 $17,251 $18,584 $9,155 $18,310

10 11 12 13 14

REV 8-23 $35,000 $35,000

25436Z

$35,000 $35,000 $35,000

Here’s how the multiplier works • You must wait at least two years after your NAC BenefitSolutions 10 annuity issue date before requesting the nursing home multiplier benefit and the annuitant cannot be confined on the issue date. • Provided that the annuitant have been confined to a qualified nursing home facility for at least 90 consecutive days - and remains confined throughout the payout period - the income can continue to be paid out for a maximum of five annual payments. This feature is no longer available when the accumulation value reaches zero.* • There is a proportional adjustment to the benefit base and benefit base floor each time a withdrawal is taken, including lifetime payment withdrawals and increased lifetime payment withdrawals available through the nursing home multiplier benefit. However, provided that no withdrawals in excess of the available lifetime payment are taken, the lifetime payment available in future years will not decrease.

Before confinement

Qualifications met and nursing home multiplier elected

Nursing home multiplier feature ends

Contract year 4 $10,000

Contract year 5 $10,000

Contract year 6 $10,000

Contract year 7 $10,000

Contract year 8 $10,000

Contract year 2 $5,000

Contract year 3 $5,000

Contract year 9 $5,000

*Other qualification criteria may apply.

The comfort of When you qualify for doubled LPAs through the nursing home multiplier benefit, the 125/150/175 benefit base floor provides continuing value. Since your LPA is based on the strong guarantees of the benefit base floor, you have an underlying foundation designed to help provide increased payments when you need it most. 125 150 175

25436Z

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Death benefit 3 Leaving a lasting legacy

In all states except AK, CT, DE, HI, ID, IL, LA, MD, MN, MO, NJ, OR, PA, UT, VA and WA, your NAC BenefitSolutions 10 annuity can allow you to leave a legacy to those you love in the manner that best fits their specific financial needs. If your beneficiaries want a lump sum, they can take the annuity’s remaining accumulation value. Or your loved ones can opt to receive the remaining amount of your benefit base in five equal annual installments after the first contract year. If you have taken no withdrawals (other than rider charges), your beneficiaries are guaranteed the option to take a lump sum death benefit that is no less than your premium. If joint annuity owners have been named, the death benefit will be paid upon the death of the first owner unless the contract is continued under spousal continuance. If joint annuitants are named the death benefit will be paid on the death of the second annuitant. In the states of AK, CT, DE, HI, ID, IL, LA, MD, MN, MO, NJ, OR, PA, UT, VA and WA, should the annuitant or owner die, the value of your NAC BenefitSolutions annuity will be available to your named beneficiary through one of the following election options: OPTION 1 – If death occurs after the second contract anniversary, the lesser of the rider death benefit maximum or the benefit base as of the date of death, paid out in five equal periodic payments. OPTION 2 – A lump sum equal to the premium on the benefits rider issue date, provided no partial surrenders (other than for benefits rider costs) have been taken since the benefits rider issue date. You have the option to terminate this rider after the surrender charge period. However, terminating this rider forfeits access to the benefit base, rider death benefit and lifetime payment amounts. Termination of the rider will not automatically terminate the contract. Once terminated, this rider cannot be reinstated and you will not be reimbursed for charges previously incurred. The rider death benefit is not life insurance. Upon payout of the death benefit, the growth may be taxed to your beneficiary as ordinary income. 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. 123456789

ment

ntract Number:

vered Persons Ages:

65 65

ue Date:

August 9, 2022

8300 Mills Civic Parkway West Des Moines, IA 50266 NorthAmericanCompany.com 8300 Mills Civic Parkway West Des Moines, IA 50266 NorthAmericanCompany.com

Annuity

Annuity Your guaranteed benefits statement

ime Payment

NAC BenefitSolutions ® 10 fixed index annuity Covered Persons: Benefit Statement Date: August 9, 2022 NAC BenefitSolutions ® 10 fixed index annuity Rider Death Benefit

Your guaranteed benefits statement

fetime ayment mount 4,724 4,878 5,008 5,141 5,278 6,563 6,737

August 9, 2022 $100,000.00 Death Benefit Annual Payment (5 Equal Payments) Sixty Five Male Sixty Five Female IA

Contract Number:

123456789

Your death benefit snapshot Nursing Home Multiplier Payment Amount**

Benefit Base*

Covered Persons Ages:

65 65

Benefit Statement Date: Initial Premium:

Contract Number: Issue Date:

123456789 August 9, 2022

Covered Persons: Issue State:

Covered Persons Ages:

Sixty Five Male Sixty Five Female

65 65

Issue Date: Lifetime Payment

August 9, 2022 Rider Death Benefit

Initial Premium: Issue State: Anniversary Date (Date Benefits Available)

Joint Covered Person Age on Anniversary Date Joint Covered Person Age on Anniversary Date 67 68

$100,000.00

Covered Person Age on Anniversary Date

$9,448 $9,756 $10,016 $10,282 $10,555 $13,126 $13,475

Deferral Year 2 Deferral Year $125,000 $125,000 1

N/A

Lifetime Payment Amount

Death Benefit Annual Payment (5 Equal Payments)

Nursing Home Multiplier Payment Amount**

IA Benefit Base*

Benefit Base*

65 $25,000 69 70 $25,000 71 72 $25,000 75 76 $30,000 73 74 65 66 $25,000 69 70 83 $30,000 77 78 73 74 75 76 77 78 79 80 81 82

At Issue 1/1/15

$125,000 $125,000

Lifetime Payment $4,724

$9,448 $9,756

$125,000 $125,000

Rider Death Benefit N/A

Anniversary Date (Date Benefits Available) 1/1/16 1/1/17 1/1/18

Covered Person Age on Anniversary Date 66 67

Lifetime Payment Amount $4,724 $4,878 $5,008 $5,141 $5,278 $6,563

Death Benefit Annual Payment (5 Equal Payments) $25,000 $25,000 $25,000

Nursing Home Multiplier Payment Amount** $10,016 $10,282

Benefit Base* $125,000 $125,000

3 4 5

68 69 70

$125,000 $125,000 $125,000

1/1/19 1/1/20

$125,000 $150,000

$9,448 $10,555 $13,126

$125,000 $150,000

N/A $25,000 $30,000

At Issue 1/1/15

$125,000

This hypothetical example is provided only to show a representation of the guaranteed benefits statement. Not intended to predict future results. 1 1/1/16 66 66 $125,000 $4,878 $9,756 $125,000 $25,000 2 1/1/17 67 67 $125,000 $5,008 $10,016 $125,000 $25,000 3 1/1/18 68 68 $125,000 $5,141 $10,282 $125,000 $25,000 6 1/1/21 71 71 $150,000 $6,737 $13,475 $150,000 $30,000 7 1/1/22 72 72 $150,000 $6,916 $13,833 $150,000 $30,000

8 9

1/1/23 1/1/24 1/1/25 1/1/26 1/1/27 1/1/28 1/1/29 1/1/30 1/1/31 1/1/32 1/1/33

73 74 75 76 77 78 79 80 81 82 83

$150,000 $150,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000

$7,100 $7,289 $8,372 $8,414 $8,456 $8,498 $8,626 $8,755 $8,886 $9,020 $9,155

$14,201 $14,578 $16,744 $16,827 $16,912 $16,996 $17,251 $17,510 $17,772 $18,039 $18,310

$150,000 $150,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000

$30,000 $30,000 $35,000 $35,000 $35,000 $35,000

4 5 6 7 8 9

1/1/19 1/1/20 1/1/21 1/1/22 1/1/23 1/1/24 1/1/25 1/1/26 1/1/27 1/1/28

69 70 71 72 73 74 75 76 77 78

$125,000 $150,000 $150,000 $150,000 $150,000 $150,000 $175,000 $175,000 $175,000 $175,000

$5,278 $6,563 $6,737 $6,916 $7,100 $7,289 $8,372 $8,414 $8,456 $8,498

$10,555 $13,126 $13,475 $13,833 $14,201 $14,578 $16,744 $16,827 $16,912 $16,996

$125,000 $150,000 $150,000 $150,000 $150,000 $150,000 $175,000 $175,000 $175,000 $175,000

$25,000 $30,000 $30,000 $30,000 $30,000 $30,000

10 11 12 13

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10 11 12 13 14 15 $150,000 $150,000 16 17 18

$35,000 $35,000 $35,000

How much will your benefit be? The amount of your rider death benefit will never be less than your benefit base floor, less any proportional withdrawals. As a hypothetical example, if your initial annuity deposit was $100,000 and you passed away in year six, the total amount your beneficiaries would receive over a five year period would be $150,000, assuming no withdrawals were taken prior to the death.

Your beneficiaries may receive five equal annual payments Assumptions: Initial premium $100,000 - death in contract year six - no withdrawals - no interest credits.

Year 3 $30,000

Year 1 $30,000

Year 2 $30,000

Year 4 $30,000

Year 5 $30,000

Total $150,000

Consider the lasting benefits While life may not always be in our control, our finances still can be. With NAC BenefitSolutions 10, you can prepare for the unexpected, so you can keep your promises for the future. The death benefit feature can help you look after your beneficiaries even after you’re gone. Whether it’s ongoing income for your surviving spouse, funds for a grandchild’s future education, or something extra to help get a loved one started in a new home or business, keeping your promises means the world to those you love - that’s what leaving a legacy is all about. 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. The legacy of Your benefit base floor not only builds a foundation to provide strong guaranteed income and enhanced income due to a qualified nursing home confinement, but can also act as a safety net for your beneficiaries. Since your beneficiaries have the option of receiving the benefit base in five annual installments upon your death, your benefit base floor can provide lasting value. 125 150 175

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NAC BenefitSolutions 10 values

Fixed account NAC BenefitSolutions 10 provides a fixed account that offers a fixed interest rate that is guaranteed for the first contract year. The fixed interest rate is declared by the company each year thereafter, but will never be less than the minimum guaranteed rate provided by your contract. 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 • Two-year Point-to-Point with Participation Rate • Fixed Account 1 1. The declared fixed rate is an annual effective rate. Interest is credited to the fixed account daily. Accumulation value The accumulation value is 100% of premium, allocated to the fixed and indexed accounts, less any withdrawals and rider charges plus any interest credits. The accumulation value will be reduced by the amount of any withdrawals (including any rider charges), but cannot decrease due to negative index performance. On the 10th contract anniversary, if you have not taken any withdrawals (excluding any rider charges) and your accumulation value is less than the premium, your accumulation value will be increased to the premium amount. 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, less applicable surrender charges, and 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) accumulated at a rate not less than the rate required or otherwise directed by your Annuity Contract. NAC BenefitSolutions 10 offers a mix of both fixed and indexed account options, including:

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Pick from a wide variety of 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.

Morgan Stanley Dynamic Global Index (MSUSMSDG) The Morgan Stanley Dynamic Global Index (MSDG) (the “Index”) allocates among global assets with the goal of diversified exposure across and within equities, fixed income, and commodities. Moreover, the index encompasses tailored risk management tools to address the unique risk and return characteristic of each asset class in an effort to respond to changing market conditions. The index is rules-based and targets a 5% annual realized volatility by allocating to cash with the goal of preserving gains during periods of high volatility and using leverage with the goal of capturing returns when volatility decreases. 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.

*Past index performance is not intended to predict future performance and the index does not include dividends.

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Set your strategy In addition to the fixed account, here are your crediting methods.

Diversify the premium among the following index account options

Crediting methods*

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)

• S&P 500® • S&P MARC 5% ER

Two-year Point-to-Point (subject to participation rate)

• Fidelity Multifactor Yield Index 5% ER • Morgan Stanley Dynamic Global Index • Goldman Sachs Equity TimeX Index

In your contract the applicable period of time for your crediting method is referred to as a “term”. * Index(es) and strategies may not be available in all states.

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Options for accessing funds

Penalty-free withdrawals 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 5% of the accumulation value may be taken each year. After the second contract anniversary, a penalty-free withdrawal of up to 10% of the accumulation value may be taken if no withdrawals other than rider costs were taken in the prior contract year. If any withdrawal is taken during a contract year, the penalty-free allowance available for the following year resets to 5%. After the surrender charge period, surrender charges and market value adjustments 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 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. Continued on page 18

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

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. The NAC BenefitSolutions® 10 is issued on form NA1006A/ICC14-NA1006A (contract), ICC12-AE539A, ICC22-AE665A, AE560A/ICC17-AE560A, AE561A/ ICC14-AE561A, AE563A/ICC14-AE563A, AE564A/ICC14-AE564A, AE567A/ICC14-AE567A, ICC12-AE539A, AE577A/ICC15-AE577A, and LR433A (riders/endorsements) or appropriate state variation by North American Company for Life and Health Insurance®, West Des Moines, IA. Product features, riders and index options may not be available in all states or appropriate for all clients. 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 July 29, 2022. 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 Dec. 7, 2022, 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.

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