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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!

North American Company for Life and Health

NAC Charter Plus 14 Low Band

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Ratings:

A.M. Best A+
Fitch A+
S&P A+
Comdex 89

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About Product

Type

Fixed Index

Purpose

Accumulation

Premium Bonus

10%

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

Minimum Contribution

$20,000

Maximum Contribution

$74,999

Max Age Qualified

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.

Annuitization
By current company practice, you may receive an income from the Accumulation Value after the first contract year (without surrender charges, premium bonus recapture, or Market Value Adjustment) if you choose a Life Income Option. You can also receive an income based on the Accumulation Value if your annuity has been in force for at least five years and payments will be over at least a ten-year period. Once a payout option is selected it cannot be changed and all other rights and benefits under the annuity end.

With the exception of Life Income options, income options are available for:

A minimum of 5 years, or
A maximum of 20 years.

The following options are available:

Income for a Specified Period
Income for a Specified Amount
Life Income with a Period Certain
Life Income
Joint and Survivor Life Income

For Florida:
You may select an annuity payout option based on the accumulation value at any time after the first contract year. Choose from:

life income
life income with a 10-year period certain
life income with a 20-year period certain
joint and survivor life income
joint and survivor life income with 10- or 20-year period certain

Available in states: AL, AZ, AR, CA, 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
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 Fidelity Multifactor Yield 5% ER PTP Participation Rate	Point to Point Biennial	140% Participation
1-Year Barclays Transitions 6 PTP Participation Rate	Point to Point Annual	90% 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	130% 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	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
2-Year Morgan Stanley Dynamic Global PTP Participation Rate	Point to Point Biennial	140% 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

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%

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Investment Amount $

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

Issue ages (may vary by state)
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.

Note: if eligible you may roll over TSP to us to be administered as a qualified tax status that we offer.

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.