Why it earned this rating
Our assessment
NAC Control X earns a strong rating because it pairs a flexible multi-index crediting menu with an optional income rider that has real mechanical depth — a 4% guaranteed rollup plus a 200% participating rollup that rewards accumulation performance. The A+ carrier rating and the ability to forgo the rider entirely give it genuine dual-use appeal. What keeps it from a higher mark is the long surrender commitment, the market value adjustment risk, and the fact that several rate fields carry medium confidence from available materials.
The short version
This is a 10-year annuity from an A+ carrier that can serve two different purposes depending on whether the Total Control Rider is elected. Without the rider, it is a principal-protected accumulation FIA with three index options and a fixed account. With the rider, the contract builds a separate income base that grows at the higher of 4% guaranteed per year or 200% of the dollar amount of interest credited — which means strong index performance directly amplifies income base growth. That combination is genuinely differentiated. The tradeoff is that you are locked into a decade-long commitment, and the rider fee runs 1.25% of the total income base whether markets cooperate or not.
Key facts
The full review
Is North American NAC Control X a Good Annuity?
Yes, for the right buyer. For someone in the 50-70 age range who wants principal protection, values having an income option later but is not ready to commit to rider costs at every carrier, and can genuinely leave the money alone for 10 years, this is a competitive product from a highly rated carrier. For someone who wants a shorter surrender period, needs frequent access to principal, or is primarily chasing maximum accumulation, it will feel like a constraint.
Why Someone Would Buy This Annuity
The most rational reason to buy NAC Control X is to lock in long-term principal protection while keeping the option open to add guaranteed income later. The Total Control Rider's dual rollup — 4% guaranteed plus 200% of credited interest — means buyers who defer income while the contract accumulates can build a larger income base than a flat roll-up product would produce. The 10% income base bonus at rider election also sweetens the starting position. For buyers who are not sure whether they will need the income layer, the ability to purchase the contract without the rider and decide later is a meaningful structural advantage.
Who This Annuity Is Best For
I think NAC Control X is best for someone in their 50s or early 60s with a qualified retirement account who wants to park long-term money in a principal-protected vehicle and retain the option to convert it to guaranteed income at a future date. The participating rollup favors buyers who intend to stay in the deferral phase for several years before taking income — the longer the accumulation phase, the more the 200% participation feature can compound. It is a poor fit for someone who needs liquidity above 10% in any contract year, someone already past 79, or someone who wants the simplest possible annuity structure.
What You're Really Buying Here
Without the rider, you are buying a principal-protected contract that credits interest based on selected index performance with no direct market participation. Your account value cannot go negative from index movements, but the real upside is bounded by caps and participation rates. With the Total Control Rider, you are buying a second ledger — the income base — that grows independently of what happens to your account value. The income base is not a savings account and cannot be surrendered as a lump sum; it is the denominator used to calculate your lifetime withdrawal amount when income begins.
How the Core Feature Works
The Total Control Rider creates a separate income base that operates alongside the accumulation account. At rider issue, the income base receives a **10% one-time bonus** on the initial deferred income base, giving you a head start before any rollup applies.
The rollup mechanism is dual-engine. Each contract year the income base grows by the **greater of** two amounts:
- A **4% guaranteed annual rollup**, regardless of market performance, for up to 20 years
**200% of the dollar amount of index interest actually credited** to the accumulation account that year
The second component is what makes this product meaningfully different from a simple guaranteed-rollup rider. In a year when the S&P 500 or a Barclays Transitions index credits meaningful interest to your accumulation account, twice that dollar amount — not twice the percentage, but twice the actual dollars — is added to your income base. In flat or zero-credit years, the 4% floor applies. This creates a structure where genuine index performance translates directly into a larger future income guarantee.
The rider fee of **1.25% of the total income base** is deducted annually from accumulation account value. Because the fee is assessed on the income base rather than the accumulation value, it can grow over time as the income base compounds. Buyers should model this carefully over a long deferral period.
Why the Secondary Feature Matters
The crediting menu is the secondary feature worth noting. NAC Control X offers Annual and Two-Year Point-to-Point strategies on both the S&P 500 and two Barclays Transitions volatility-controlled indices, plus a fixed account. Participation rates range from 40% to 200% depending on strategy, and caps range from 9% to 14%. The Two-Year strategies tend to carry higher participation rates, which pairs naturally with the 200% participating rollup on the income base — stronger two-year index performance means a larger income base credit. Rates noted here are from the April 2026 rate sheet and will change; current rates should be verified directly.
Liquidity and Surrender Schedule
This is a 10-year annuity designed for retirement money that does not need to be touched. Free withdrawals of up to 10% of beginning-of-year accumulation value are available starting in the second contract year — the first year has no free-withdrawal access. Amounts above that are subject to surrender charges, and a **market value adjustment (MVA)** also applies during the charge period. The MVA means your effective surrender penalty fluctuates with interest rate movements — if rates rise after you buy, a partial surrender above the free amount can cost more than the stated charge alone.
| Contract Year | Surrender Charge |
|---|---|
| 1 | 10% |
| 2 | 10% |
| 3 | 9% |
| 4 | 9% |
| 5 | 8% |
| 6 | 8% |
| 7 | 7% |
| 8 | 6% |
| 9 | 4% |
| 10 | 2% |
Required minimum distributions should generally qualify for fee-free treatment; confirm the specific contract language for your situation. A nursing home waiver may also be available in applicable states for extended care access, but availability varies — this feature is not universally approved.
Fees and Tradeoffs
The base contract has no ongoing fee. The only explicit charge is the **1.25% annual fee on the total income base** when the Total Control Rider is elected. That sounds manageable at issue, but if the income base compounds significantly over a long deferral, the 1.25% is applied to a larger number each year.
The less obvious cost is structural. Any withdrawal from the accumulation account — including free withdrawals — reduces the income base proportionally. That means taking your 10% per year while the rider is active slowly erodes the very base generating your future income guarantee. For buyers who need cash flow before income activation, this is a real tension to manage.
There is also an opportunity cost built into the participating rollup. The 200% participation applies to dollar-amount of index credits, not a percentage return. In low-credit years the 4% floor is the ceiling. In strong years the upside is real, but it depends on the indices actually performing.
Product snapshot
| Feature | Details |
|---|---|
| Product Type | Fixed Indexed Annuity |
| Surrender Period | 10 years |
| Issue Ages | 0-79 without Total Control rider; 40-79 with Total Control rider |
| Minimum Premium | $20,000 |
| Indices | S&P 500, Barclays Transitions 6 VC Index, Barclays Transitions 12 VC Index |
| Crediting Methods | Fixed, Annual Point-to-Point with Cap Rate, Annual Point-to-Point with Participation Rate, Two-year Point-to-Point with Cap Rate, Two-year Point-to-Point with Participation Rate, Two-year Point-to-Point with Participation Rate and Margin |
| Free Withdrawal | 10% of beginning of year accumulation value annually beginning in second contract year |
| MGSV | 87.5% of premiums at 1-3% |
| Death Benefit | Greater of account value plus appreciation-to-date or minimum guaranteed surrender value |
| Income Rider | Optional |
| Income Rider Fee | 1.25% of total income base annually |
| Premium Bonus | 10% one-time bonus applied to initial deferred income base |
| Availability | Available in most states. Not approved in New York. Some features vary by state (e.g., nursing home waiver not available in all states). |
Carrier snapshot
Legal Entity: North American Company for Life and Health Insurance
Parent: Sammons Financial Group
A.M. Best Rating: A+
Final take
NAC Control X is a strong fit for a patient buyer who wants principal protection and an optional path to guaranteed income built around a participating rollup. The 200% dollar-for-dollar income base amplification is a genuinely differentiated mechanic — if you are in a long deferral phase and the indices cooperate, the income base grows faster than a flat guaranteed rollup would produce. The A+ carrier rating and the option to hold the contract without the rider add to the appeal.
The case against it is equally clear. Ten years is a long surrender commitment, the MVA adds rate-risk to any early surrender, and the 1.25% rider fee compounds in a way that can erode accumulation value meaningfully over a long deferral period. If you are not going to use the income rider, a shorter-term FIA from a similarly rated carrier deserves a comparison. And if you want pure accumulation without a rider, the structure here is serviceable but not exceptional.