NAC VersaChoice 10 with ELB

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.

North American Company for Life and Health
15 customer reviews
NAC VersaChoice 10 with ELB-brochure NAC VersaChoice 10 with ELB-brochure

NAC VersaChoice 10 with ELB

Your Email

Ratings:

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

About Product

Type
Fixed Index
Purpose
Long-Term Care
Term
10 Years
Surrender schedule
10%10%9%9%8%8%7%6%4%2%
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
Yes
Minimum Contribution
$20,000
Maximum Contribution
$1,000,000
Max Age Qualified
79
Types Of Funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, NQ Stretch, and TSP
Launch Date
10/03/2017
NAC VersaChoice 10 is a modified single premium, fixed index annuity with an optional rider for an additional fee that allows you access to more of your money, sooner. The value will grow at a rate based on the fixed or index account (or index accounts) you choose. Index accounts are tied to market performance, but they are not an actual investment in the stock market. You will get credit for some of the market’s growth in up times. In down times, when the market sees zero gains or actually loses value, your premium will never be at risk of decreasing due to those losses.

In all states except Florida, 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 in force for at least five years and you elect to receive payments over at least a 5-year period. 
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
2.8% Fixed
2-Year Morgan Stanley Dynamic Global PTP Enhanced Participation Rate
Point to Point
Biennial
215% Participation
1-Year Morgan Stanley Dynamic Global PTP Enhanced Participation Rate
Point to Point
Annual
155% Participation
2-Year Morgan Stanley Dynamic Global PTP Participation Rate
Point to Point
Biennial
150% Participation
1-Year Morgan Stanley Dynamic Global PTP Participation Rate
Point to Point
Annual
105% Participation
2-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Biennial
140% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
95% Participation
2-Year S&P 500 PTP Participation Rate
Point to Point
Biennial
30% Participation
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1.55% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
25% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
7.75% Cap
2-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Biennial
215% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
150% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Biennial
150% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Annual
100% Participation
1-Year Fixed Account
Fixed
3.05% Fixed
1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
165% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Biennial
175% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Annual
125% Participation
2-Year Morgan Stanley Dynamic Global PTP Enhanced Participation Rate
Point to Point
Biennial
240% Participation
1-Year Morgan Stanley Dynamic Global PTP Enhanced Participation Rate
Point to Point
Annual
170% Participation
2-Year Morgan Stanley Dynamic Global PTP Participation Rate
Point to Point
Biennial
175% Participation
1-Year Morgan Stanley Dynamic Global PTP Participation Rate
Point to Point
Annual
130% Participation
2-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Biennial
165% Participation
2-Year S&P 500 PTP Participation Rate
Point to Point
Biennial
35% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
120% Participation
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1.7% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
30% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
8.75% Cap
2-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Biennial
240% Participation
2-Year Goldman Sachs Equity TimeX PTP Participation Rate
Point to Point
Biennial
70% Participation
1-Year Goldman Sachs Equity TimeX PTP Participation Rate
Point to Point
Annual
50% Participation
2-Year Goldman Sachs Equity TimeX PTP Participation Rate
Point to Point
Biennial
85% Participation
1-Year Goldman Sachs Equity TimeX PTP Participation Rate
Point to Point
Annual
60% Participation

Surrender schedule

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

Riders

Name Inbuilt Fee
Enhanced liquidity benefit LTC rider Yes
Enhanced liquidity benefit Yes 0.60% annually

Waivers

ADL

If client is unable to complete two of the six activities of daily living (ADLs) after the issue date and otherwise qualifies, it’s possible to get up to 100% of accumulation value immediately with no surrender charges.

Premium Notes

Issue Ages:
Issue ages 0-79 (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.

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

Withdrawal Provisions

Penalty-free withdrawals
Like most annuities, you’ll be limited in when and how much you can withdraw from your annuity penalty-free. After the issue date, you may choose to take a penalty-free withdrawal (also known as a penalty-free partial surrender) of up to 10% of the beginning-of-year accumulation value each year. If you withdraw more than that, a surrender charge and market value adjustment may apply and the AV true-up feature will terminate. After the surrender charge period, surrender charges and a market value adjustment will no longer apply. Withdrawals may be treated by the government as ordinary income. If taken before age 59 1/2, you may also have to pay a 10% IRS penalty. Withdrawals will reduce your accumulation value accordingly. By current company practice, we’ll waive surrender charges, and market value adjustments on any portion of an IRS-required minimum distribution that goes beyond what’s available to you penalty-free. A feature offered “by current company practice” is not a contractual guarantee of this annuity contract and can be removed or changed at any time.
 
Enhanced Liquidity Benefit
For a charge of 0.60% of the Accumulation Value annually, you will receive: 
  • Enhanced Penalty-Free Withdrawal: Beginning the second contract year, a Penalty-Free Partial Surrender will increase to 20% (maximum) if no withdrawals other than ELB charges and strategy charges were taken in the previous year.
  • Return of Premium: Upon surrender, Return of Premium is available starting in Contract Year 4, less any withdrawals or rider charges (excluding the Enhanced Liquidity Benefit charges).
  • ADL-Based Surrender Charge Waiver: Up to 100% of Accumulation Value may be taken Penalty-Free when the Activities of Daily Living (ADL) Benefit Requirements are met.
  • ADL-Based Payout Benefit: When ADL Benefit Requirements are met, A % of the Accumulation Value may be paid out in a series of equal periodic payments over 5 years. Once elected, all other rights and benefit under the contract are terminated.

Other North American Products

You might also be interested in

James Alden Experienced Financial Advisor
25 years experience
3,712 career consultations
4 slots free for today
scheduling.
Your Name
Your Phone
Thank you for your trust! I have received your contact information. Please wait for a call within 30 minutes. 😌