Fixed index annuity review and rates

NAC Charter Plus 10 High Band (State Variation)

The Charter Plus 10 is a flexible premium annuity with a 10-year surrender charge period and an MVA provision. 
Available in states: AK, CA, CT, DE, HI, ID, IN, MN, MO, NV, NJ, OH, OK, OR, PA, SC, TX, UT, VA, and WA

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
2.4% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
4.5% Cap
1-Year Nasdaq-100 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1.9% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
25% Participation
1-Year S&P 500 PTP Daily Average Spread
Point to Point
Annual
Daily average
7% Spread
1-Year S&P 500 LV DRC 5% TR PTP Spread
Point to Point
Annual
3% Spread
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1.8% Cap
2-Year S&P 500 LV DRC 8% TR PTP Spread
Point to Point
Biennial
4.5% Spread

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10
Penalty 9% 9% 8% 7% 6% 5% 4% 3% 2% 1%
North American Company for Life and Health
Founded: 1886
A.M. Best: A+
Fitch: A+
S&P: A+
Carrier details
Free withdrawal
1st year: 0%
2nd+ year: 10%
Premium bonus
8%
Surrender schedule
10 years
Return of premium
Market value adjustment
Minimum contribution
$75,000
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and TSP