NAC Charter Plus 14 Low Band
The NAC Charter Plus 14 Low Band is a standout annuity product designed for your golden years. It offers a secure regular income after retirement - just what you'd want for a carefree life!
This product is perfectly constructed with features that guard your investment against market downturns. For future-focused individuals, it effectively turns your savings into reliable income with minimal risk. It's your ticket to a worry-free retirement!
NAC Charter Plus 14 Low Band
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
2.8%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6.5%
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
|
1.45%
Cap
|
| 2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Biennial
|
125%
Participation
|
| 1-Year Barclays Transitions 6 PTP Participation Rate |
Point to Point
Annual
|
85%
Participation
|
| 1-Year Barclays Transitions 12 PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 2-Year Barclays Transitions 6 PTP Participation Rate |
Point to Point
Biennial
|
135%
Participation
|
| 2-Year Barclays Transitions 12 PTP Participation Rate |
Point to Point
Biennial
|
65%
Participation
|
| 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
|
90%
Participation
|
| 2-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Biennial
|
125%
Participation
|
| 1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Annual
|
90%
Participation
|
| 1-Year Morgan Stanley Dynamic Global PTP Participation Rate |
Point to Point
Annual
|
90%
Participation
|
| 2-Year Morgan Stanley Dynamic Global PTP Participation Rate |
Point to Point
Biennial
|
135%
Participation
|
| 1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
130%
Participation
|
| 2-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate |
Point to Point
Biennial
|
195%
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
|
195%
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% |
Riders
No Riders for NAC Charter Plus 14 Low Band annuity.
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
Available issue ages 0-75; CA 0-52, 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, $20,000 non-qualified and qualified.
All subsequent premiums will initially be credited a fixed interest rate. We will declare this interest rate for each subsequent premium at the time that subsequent premium is received. The interest rate applicable to each subsequent premium is guaranteed until the end of the contract year. On each contract anniversary, North American will allocate any premiums received since the prior contract anniversary, according to your most recent instructions.
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.
- A.M. Best A+
- Fitch A+
- S&P A+
- Comdex 88
