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.
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REV 8-23
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