Fixed index annuity review and rates

NAC IncomeChoice 10

IncomeChoice 10 is a flexible premium deferred fixed index annuity designed to provide a long-term solution to generating future lifetime income. Individuals who are not planning to utilize the Guaranteed Living Withdrawal Benefit (GLWB) feature for future retirement income, or who intend to take withdrawals prior to utilizing the GLWB feature, will not experience the full benefit of this product. 
Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, 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
1.4% Fixed
1-Year S&P 500 LV DRC 5% TR Threshold Participation Rate
Threshold Part Rate
Annual
35% Participation
2-Year S&P 500 LV DRC 8% TR PTP Spread
Point to Point
Biennial
4.5% Spread
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1.3% Cap
1-Year S&P 500 LV DRC 5% TR PTP Spread
Point to Point
Annual
3.3% Spread
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
20% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
3.25% Cap
1-Year S&P MARC 5% ER PTP Spread
Point to Point
Annual
2.25% Spread
1-Year Fixed Account
Fixed
1.5% Fixed
1-Year S&P 500 LV DRC 5% TR Threshold Participation Rate
Threshold Part Rate
Annual
35% Participation
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
23% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
3.5% Cap
1-Year S&P 500 LV DRC 5% PTP Spread
Point to Point
Annual
2.7% Spread
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1.4% Cap
2-Year S&P 500 LV DRC 8% TR PTP Spread
Point to Point
Biennial
4% Spread
1-Year S&P MARC 5% ER PTP Spread
Point to Point
Annual
1.85% Spread

Surrender schedule

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

Riders

Name Inbuilt Fee
NAC GLWB with Level LPA Yes None
NAC GLWB with Increasing LPA Yes None
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: 5%
Surrender schedule
10 years
Return of premium
Market value adjustment
Minimum contribution
$20,000
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and TSP