Fixed index annuity review and rates

Income Pay Pro 10

The Income Pay Pro 10 is a modified single premium deferred fixed index annuity with an embedded guaranteed lifetime withdrawal benefit (GLWB) rider offering competitive, guaranteed lifetime income. Lifetime payment amounts (LPAs) are made to you as long as you live or, if applicable, joint annuitant lives. It’s a retirement “paycheck” you can count on. 
Income Pay Pro provides multiple options for taking retirement income. So you’re in the driver’s seat in determining how and when you start receiving payments. 
Fixed and index account options offer upside potential without downside market risk. Your premium is protected from market downturns. 
If you need access to funds, Income Pay Pro has different liquidity provisions that can help you when you need it most. 
Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
2.5% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
5% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1.85% Cap
1-Year S&P 500 LV DRC 5% TR PTP Spread
Point to Point
Annual
4% Spread
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
25% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
100% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Annual
105% Participation
1-Year Morgan Stanley Dynamic Global PTP Participation Rate
Point to Point
Annual
110% Participation
2-Year S&P 500 PTP Participation Rate
Point to Point
Biennial
35% Participation
2-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Biennial
145% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Biennial
155% Participation
2-Year Morgan Stanley Dynamic Global PTP Participation Rate
Point to Point
Biennial
155% Participation

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10
Penalty 10% 10% 9% 9% 8% 8% 7% 6% 4% 2%

Riders

Name Inbuilt Fee
Income Pay Pro Rider Level Yes 1.15% annually
Income Pay Pro Rider Increasing Yes 1.15% annually
North American Company for Life and Health
Founded: 1886
A.M. Best: A+
Fitch: A+
S&P: A+
Carrier details
Free withdrawal
10%
Surrender schedule
10 years
Return of premium
Market value adjustment
Minimum contribution
$20,000
Types of funds
Non-Qualified, IRA Rollover, TSA 403b, SEP IRA, and IRA-Roth