NAC Performance Choice 8

North American Company for Life and Health
NAC Performance Choice 8-brochure NAC Performance Choice 8-brochure

NAC Performance Choice 8

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Ratings:

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

About Product

Type
Fixed Index
Purpose
Accumulation
Term
8 Years
Surrender schedule
10%10%10%10%9%8%5%3%
Fee withdrawal:
10%
Flexible premium
Product Life
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$20,000
Maximum Contribution
$1,000,000
Max Age Qualified
85
Types Of Funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, Inherited IRA, NQ Stretch, and TSP
Launch Date
10/15/2010
The Performance Choice 8 is a flexible premium fixed indexed annuity with a 8-year surrender charge period that provides advantages such as tax deferral, long-term growth, and a death benefit payout with the added benefit of enhanced growth with no risk of loss of premium due to market fluctuations. The Performance Choice 8 is not an investment in the stock market. It is a fixed annuity that credits interest based on distinct Index Account Options and the annual performance of these selected indices.
Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, 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
3% Fixed
2-Year Fidelity Multi Factor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Biennial
230% Participation
1-Year Fidelity Multi Factor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
155% Participation
1-Year Fidelity Multi Factor Yield 5% ER PTP Participation Rate
Point to Point
Annual
120% Participation
2-Year Fidelity Multi Factor Yield 5% ER PTP Participation Rate
Point to Point
Biennial
170% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
115% Participation
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
25% Participation
2-Year S&P 500 PTP Participation Rate
Point to Point
Biennial
30% Participation
2-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Biennial
160% Participation
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1.65% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
7.5% Cap
1-Year Morgan Stanley Dynamic Global PTP Participation Rate
Point to Point
Annual
125% Participation
2-Year Morgan Stanley Dynamic Global PTP Participation Rate
Point to Point
Biennial
170% Participation
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 Goldman Sachs Equity TimeX PTP Participation Rate
Point to Point
Biennial
80% Participation
1-Year Goldman Sachs Equity TimeX PTP Participation Rate
Point to Point
Annual
55% Participation

Surrender schedule

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

Riders

No Riders for NAC Performance Choice 8 annuity.

Waivers

Nursing Home

Unavailable in states: CA, and MA

If 75 years old and under when your annuity is issued, a benefit is automatically included at no additional cost that can help if the annuitant ever needs the services of a qualified nursing care facility (skilled nursing facility or residential care facility for the elderly in CA). After the first contract anniversary, if the annuitant becomes confined to a qualified nursing care facility (skilled nursing facility or residential care facility for the elderly in CA), as defined in the rider, an additional 10% of the accumulation value penalty-free is available each year the qualifying conditions are met. The owner can spend this money as they see fit.

Premium Notes

Issue ages 
0-85
For issue ages 0-17, a Uniform Gift to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) custodial account must be established.

Premium
The amount paid to the insurance company to fund an annuity.
$20,000 minimum for non-qualified and qualified premium. (or $50 per month TSA salary reduction).
After the first contract anniversary, and with 60 days’ notice from us, we reserve the right to limit or stop accepting additional premium. State variations may apply

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

Withdrawal Provisions

Annuitization 
By current company practice, you may receive an income from the Accumulation Value after the first contract year (without surrender charges 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 enforced for at least five years and you elect to receive payments over at least a five-year period. If an annuity payout option is elected, 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

Free Withdrawals 
Once per year after the first anniversary, you may take a penalty-free withdrawal (also known as Penalty-Free Partial Surrender), without surrender charges, Premium Bonus Recapture, or Interest Adjustment, up to 10% of your Accumulation Value. 

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