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About North American
North American Company for Life and Health Insurance is a subsidiary of Sammons Financial Group. Known for a deep portfolio of fixed indexed annuities spanning accumulation, income, and principal-protection strategies, North American offers broad index crediting menus and meaningful rider options. The carrier's A+ A.M. Best rating reflects strong financial stability, making it a credible choice for long-duration contracts.
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How we scored them
Income Options85/100
Financial Strength94/100
Fees & Costs80/100
Flexibility78/100
Customer Service83/100
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The tradeoffs
What works
- Excellent A+ A.M. Best financial strength rating
- Deep FIA product portfolio with multiple tenure bands (3-14 years)
- Generous premium bonuses on accumulation products (up to 10%)
- Built-in income riders with compounded roll-ups on income products (8% annually)
- Nursing home waivers and care accelerators built into many products
What to watch
- Long surrender periods (10-14 years on flagship accumulation products)
- Market Value Adjustments add interest-rate risk on early exits
- Income rider fees (1.15-1.20%) apply whether or not income is activated
- Not available in New York; limited availability in some states
- Proprietary index strategies carry less transparent track records than benchmarks
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What you could receive
Live projection for Income Pay Pro 10 with Income Pay Pro 10 Level Guarantee Lifetime Withdrawal Benefit — single life, issue age 62, income beginning at age 67. Illustrative, not a quote; figures refresh from Annuity Rate Watch.
| Premium | Monthly | Annual |
|---|---|---|
| $250,000 | $2,418 | $29,019 |
| $500,000 | $4,837 | $58,038 |
| $1,000,000 | $9,673 | $116,077 |
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Income rider fees
Disclosed charges for optional riders on North American products, live from Annuity Rate Watch. Product-level detail is on each review.
| Rider | Product | Fee |
|---|---|---|
| Benefit Solutions Guaranteed Benefits Rider | NAC BenefitSolutions 10 | 1.20% annually |
| Benefit Solutions Guaranteed Benefits Rider UT | NAC BenefitSolutions 10 | 1.20% annually |
| Total Control Rider Increasing LPA | NAC Control X | 1.25% annually |
| Total Control Rider Level LPA | NAC Control X | 1.25% annually |
| Enhanced Liquidity Benefit Rider | NAC VersaChoice 10 | 0.60% annually |
| Guaranteed Minimum Death Benefit Rider | Performance Choice 8 | 0.90% annually |
| Guaranteed Minimum Withdrawal Benefit Rider | Performance Choice 8 | 1.10% annually |
| Income Pay GLBR Option 1 | Performance Choice 8 | 0.40% annually |
+5 more riders listed on individual product pages.
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Best fit for these buyers
Accumulators seeking long-term growth with principal protection and broad index options
Income-focused retirees valuing built-in lifetime income guarantees with care protections
Buyers comfortable with 5-10+ year commitments in exchange for strong carrier backing
Ages 50-75 planning retirement income or long-horizon accumulation
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Frequently asked questions
Is North American a good annuity company?
North American earns an average rating of 4.0/5 across the 10 products we've reviewed, and A.M. Best rates the carrier A+ for financial strength. We describe its financial position as "Excellent" with $120+ Billion in total assets.
How much income can I get from a North American annuity?
Income depends on your premium, age, and start date. At our benchmark scenario — single life, issue age 62, income beginning at age 67 — North American's highest-paying income product (Income Pay Pro 10) currently projects about $58,038 per year on a $500,000 premium, or $29,019 on $250,000. Figures are illustrative, based on live Annuity Rate Watch data, and are not a quote.
What are the fees for North American annuities?
Fee structures vary by product. Optional income riders on North American products carry disclosed charges — for example Benefit Solutions Guaranteed Benefits Rider (NAC BenefitSolutions 10): 1.20% annually ; Benefit Solutions Guaranteed Benefits Rider UT (NAC BenefitSolutions 10): 1.20% annually ; Total Control Rider Increasing LPA (NAC Control X): 1.25% annually . See each product review for the full fee detail.
What is the surrender period for North American annuities?
Surrender periods on North American's current lineup run 3–10 years, depending on the product. Most products allow an annual free-withdrawal amount before charges apply — the product table above shows each product's surrender length, and each review covers the exact schedule.