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.
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