North American Company for Life and Health
4.1
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NAC Charter Plus 14 High Band with EBR

The NAC Charter Plus 14 High Band with EBR is a fantastic choice for anyone planning their future. The plan guarantees financial security throughout retirement so you can relax and enjoy your golden years.

Their Enhanced Benefit Rider ensures you're covered for unexpected expenses. Plus, the potential for large returns makes it a friendly companion to your savings. To top it all, NAC Charter is well recognized for their customer service. Take that step today!

NAC Charter Plus 14 High Band with EBR-brochure NAC Charter Plus 14 High Band with EBR-brochure

NAC Charter Plus 14 High Band with EBR

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About Product

Type
Fixed Index
Purpose
Accumulation
Premium Bonus
26%
Term
14 Years
Surrender schedule
12%
12%
11%
11%
10%
9%
8%
7%
6%
5%
4%
3%
2%
1%
Fee withdrawal:
10%
Flexible premium
Product Life
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$75,000
Maximum Contribution
$2,000,000
Max Age Qualified
75
Types Of Funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, 1035 Exchange, NQ Stretch, and TSP
Launch Date
09/01/2015
The Charter Plus 14 is a flexible premium annuity with a 14-year surrender charge period and an MVA provision. The Charter Plus 14 also pays a Premium Bonus on all premiums paid during the first seven years.
Available in states: AL, AZ, AR, CO, DC, FL, GA, IL, IA, KS, KY, LA, ME, MA, MI, MS, NE, NH, NM, NC, ND, RI, SD, TN, VT, WV, WI, and WY

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
2.55% Fixed
2-Year Morgan Stanley Dynamic Global PTP Participation Rate
Point to Point
Biennial
140% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
6.25% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
20% Participation
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1.35% Cap
2-Year S&P 500 PTP Participation Rate
Point to Point
Biennial
30% Participation
1-Year Goldman Sachs Equity TimeX PTP Participation Rate
Point to Point
Annual
45% Participation
2-Year Goldman Sachs Equity TimeX PTP Participation Rate
Point to Point
Biennial
75% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
95% Participation
2-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Biennial
135% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Annual
95% Participation
1-Year Morgan Stanley Dynamic Global PTP Participation Rate
Point to Point
Annual
95% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
140% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Biennial
200% Participation
1-Year Morgan Stanley Dynamic Global PTP Enhanced Participation Rate
Point to Point
Annual
140% Participation
2-Year Morgan Stanley Dynamic Global PTP Enhanced Participation Rate
Point to Point
Biennial
200% Participation
2-Year Barclays Transitions 12 PTP Participation Rate
Point to Point
Biennial
65% Participation
2-Year Barclays Transitions 6 PTP Participation Rate
Point to Point
Biennial
130% Participation
1-Year Barclays Transitions 12 PTP Participation Rate
Point to Point
Annual
45% Participation
1-Year Barclays Transitions 6 PTP Participation Rate
Point to Point
Annual
90% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Biennial
140% Participation

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14
Penalty 12% 12% 11% 11% 10% 9% 8% 7% 6% 5% 4% 3% 2% 1%

Hypothetical Projection

Comparison against S&P 500 using current rates
indexed chart
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Riders

Name Inbuilt Fee
NAC Charter Plus 14 Еnhanced bonus rider No 0.95% annually

Waivers

Nursing Home

Unavailable in states: CA, and MA

After the first contract anniversary, if the annuitant becomes confined to a qualified nursing care center (skilled nursing facility or residential care facility for the elderly in CA), as defined in the rider, up to 100% of the accumulation value is available each year while the annuitant is confined. If 100% of the accumulation value is taken, it will be considered a full surrender. The annuitant cannot be confined at the time the contract is issued. This rider is automatically included with the annuity at no additional charge. If joint annuitants are named on the annuity, the rider will apply to the first annuitant who qualifies for the benefit.

Premium Notes

Issue ages (may vary by state)
Available issue ages 0-75; CA 0-52, IN & NH 0-74 (qualified and non-qualified).
For issue ages 0-17, a Uniform Gift to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) custodial account must be established.

Minimum premium
Flexible Premium, $75,000 non-qualified and qualified. 

Withdrawal Provisions

Free Withdrawals After the first contract anniversary, a penalty-free withdrawal (also known as a penalty-free partial surrender), of up to 10% of the accumulation value may be taken each year. After the surrender charge period, surrender charges, premium bonus recapture, and a market value adjustment no longer apply to any withdrawals. Market value adjustmentYour contract also includes a market value adjustment feature—which may decrease or increase your surrender value depending on the change in the index value of the market value adjustment external index since your annuity purchase. Due to the mechanics of a market value adjustment, surrender values generally decrease as the market value adjustment external index rises or remains constant. When the market value adjustment external index decreases enough over time, the surrender value generally increases. However, the market value adjustment is limited to the surrender charge or the interest credited to the accumulation value in all states except California.In California, the market value adjustment is limited to the surrender charge or 0.50% of the accumulation value at the time of surrender. This adjustment is applied only during the market value adjustment period to surrenders exceeding the applicable penalty-free allowance. 

Company Founded: 1886
TOP Rated Company
North American Company for Life and Health
Company Ratings
5
  • A.M. Best A+
  • Fitch A+
  • S&P A+
  • Comdex 89
Assets: $39,625,115,715
Iowa

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