NAC PrimePath Pro 12
The North American Company for Life and Health Insurance, founded in 1886, has shown unwavering customer commitment for over 120 years by becoming a dependable player in the life insurance and annuities market. With a vast array of life insurance and annuity solutions, including a remarkable ‘Precision 14’ indexed annuity, the company strives to protect clients and their families from financial regressions through state-of-the-art offerings. Particularly designed for American families and businesses, North American has a long history of serving its clientele faithfully and withholding a positive impact on the communities surrounding them.
NAC PrimePath Pro 12
Ratings:
- A.M. Best A+
- Fitch A+
- S&P A+
- Comdex 89
About Product
Enhanced death benefit: The client has the choice between:
- Greater of accumulation value or minimum surrender value (as a lump sum)
- Greater of the benefit base and the benefit base floor (must be paid out in equal payments over a 5 year period) subject to the rider death benefit maximum (varies by state).
Benefit base floor: The benefit base floor is equal to the premiums, less any proportional reductions for withdrawals, accumulated at 1% per year until LPAs are started and 0% thereafter. When the benefit base is utilized by starting LPAs, the benefit base is guaranteed to be no less than the benefit base floor.
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Fixed Account |
Fixed
|
3.2%
Fixed
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7.75%
Cap
|
1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.3%
Cap
|
1-Year S&P 500 LV DRC 5% PTP Spread |
Point to Point
Annual
|
2.25%
Spread
|
1-Year S&P MARC 5% ER PTP Spread |
Point to Point
Annual
|
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
30%
Participation
|
1-Year Morgan Stanley Dynamic Contribution PTP Participation Rate |
Point to Point
Annual
|
130%
Participation
|
2-Year Morgan Stanley Dynamic Contribution PTP Participation Rate |
Point to Point
Biennial
|
180%
Participation
|
2-Year Morgan Stanley Dynamic Contribution PTP Participation Rate with Spread |
Point to Point
Biennial
|
320%
Participation
2%
Spread
|
1-Year S&P MARC 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
165%
Participation
|
2-Year S&P MARC 5% ER PTP Enhanced Participation Rate |
Point to Point
Biennial
|
230%
Participation
|
1-Year Morgan Stanley Dynamic Global PTP Enhanced Participation Rate |
Point to Point
Annual
|
175%
Participation
|
2-Year Morgan Stanley Dynamic Global PTP Enhanced Participation Rate |
Point to Point
Biennial
|
250%
Participation
|
2-Year Morgan Stanley Dynamic Global PTP Participation Rate |
Point to Point
Biennial
|
200%
Participation
|
1-Year Morgan Stanley Dynamic Global PTP Participation Rate |
Point to Point
Annual
|
145%
Participation
|
1-Year S&P Maestro 5 ER PTP Spread |
Point to Point
Annual
|
|
1-Year S&P Maestro 5 ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
155%
Participation
|
2-Year S&P Maestro 5 ER PTP Enhanced Participation Rate |
Point to Point
Biennial
|
220%
Participation
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Penalty | 14% | 14% | 12% | 12% | 11% | 11% | 10% | 9% | 8% | 7% | 6% | 4% |
Riders
Name | Inbuilt | Fee |
---|---|---|
PrimePath Pro 12 Rider Level | Yes | |
PrimePath Pro 12 Rider with Increasing LPP | Yes |
Waivers
Nursing Home
Unavailable in states: CA
After the first contract anniversary, if the covered person is confined to a qualified nursing home facility for at least 90 consecutive days you may withdraw up to 100% of your accumulation value without a surrender charge or MVA. If you withdraw 100% of your accumulation value, your Contract will terminate. This waiver is automatically included with your annuity at no additional charge. The nursing home waiver does not include home health care.
Premium Notes
Withdrawal Provisions
During the surrender charge period, a surrender charge applies to any amount above the available penalty-free withdrawal amount. Surrender charges may result in a loss of premium. Surrender charges allow the company to invest long-term and in turn, generally offer more favorable crediting rate limits. The surrender charges for each contract year are based on the state where your Contract is issued.