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Best Guaranteed Annuity Rates
2-Year
5.55%
3-Year
6.25%
5-Year
6.50%
7-Year
5.85%
10-Year
5.80%

NAC Charter Plus 14 Low Band with EBR

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Highlights

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, 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
Type
Fixed Index
Purpose Accumulation
Premium Bonus
22%
Term
14 Years
Surrender schedule
12%12%11%11%10%9%8%7%6%5%4%3%2%1%
Free withdrawal
10%
Flexible premium Product Life
Market value adjustment
Return of premium
Launch date
09/01/2015
Minimum contribution
$20,000
Maximum contribution
$74,999
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
Brochure
Open brochure

Find out if the NAC Charter Plus 14 Low Band with EBR is the right product for you.

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, $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. 

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
2.55% Fixed
2-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Biennial
165% 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
25% Participation
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1.75% Cap
2-Year Morgan Stanley Dynamic Global PTP Enhanced Participation Rate
Point to Point
Biennial
230% Participation
1-Year Morgan Stanley Dynamic Global PTP Enhanced Participation Rate
Point to Point
Annual
160% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Biennial
230% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
160% Participation
2-Year Morgan Stanley Dynamic Global PTP Participation Rate
Point to Point
Biennial
165% Participation
1-Year Morgan Stanley Dynamic Global PTP Participation Rate
Point to Point
Annual
115% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Annual
115% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
115% Participation
2-Year Goldman Sachs Equity TimeX PTP Participation Rate
Point to Point
Biennial
90% Participation
1-Year Goldman Sachs Equity TimeX PTP Participation Rate
Point to Point
Annual
60% Participation
2-Year S&P 500 PTP Participation Rate
Point to Point
Biennial
40% Participation
2-Year Barclays Transitions 12 PTP Participation Rate
Point to Point
Biennial
80% Participation
2-Year Barclays Transitions 6 PTP Participation Rate
Point to Point
Biennial
160% Participation
1-Year Barclays Transitions 12 PTP Participation Rate
Point to Point
Annual
55% Participation
1-Year Barclays Transitions 6 PTP Participation Rate
Point to Point
Annual
110% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Biennial
165% 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

Name Inbuilt Fee
NAC Charter Plus 14 Đ•nhanced bonus rider No 0.95% annually (0.00% after 14 years)

Waivers

Nursing Home

Unavailable in states: 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.

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