North American Releases New Annuity
Midland National® Life Insurance Company
West Des Moines, IA – July 23, 2013 – North American Company for Life and Health Insurance® has introduced a flexible annuity solution featuring an enhanced death benefit. The NAC SecureChoiceSM is the first fixed index annuity from North American that offers a built-in enhanced death benefit equipped with a stacking roll-up feature to help grow the death benefit value for heirs. Along with the growth potential for stock-market linked index accounts, this new fixed index annuity has a built-in Guaranteed Minimum Death Benefit (GMDB) which provides multiple growth opportunities through a combination of bonuses and a GMDB Stacking Roll-Up Credit, plus Interest Credits. This combination is designed to grow the GMDB Amount over the years to maximize the death benefit available to beneficiaries. The annuity product also provides clients the opportunity to add an optional lifetime income rider for a cost with stacking roll-up potential as well, which gives clients more flexibility.
“We work closely with our Distribution Partners to identify the unique client needs including their desire to build a legacy for their families. We were able to utilize their feedback and create an annuity product with a built-in, enhanced death benefit at no additional charge, that offers the upside potential of stacking roll-up credits, ultimately increasing the payout to heirs,” stated Lori Bochner, Vice President, Sales and Marketing Support. “This new annuity enhances our line of “Choice” products, with our previous two successful annuity products that focused on accumulation with the NAC RetireChoiceSM, and income with the NAC IncomeChoiceSM. Now we offer even more flexibility with an enhanced death benefit, a lifetime income option, the upside growth potential from stacking, and increased withdrawal liquidity.”
The new annuity expands North American’s annuity product offerings and strengthens the value and solutions for those clients looking for accumulation, income, and a death benefit for heirs.
About North American:
North American Company for Life and Health Insurance® is a leading provider of Fixed Index Annuities in the U.S. and over the years has consistently ranking among the top 10 index annuity carriers in the U.S. (AnnuitySpecs, quarterly Indexed Sales & Market Report), and most recently ranked #1 for an Immediate (SPIA) Annuity by Barron’s (Barrons, Top 50 Annuities, 05-27-13). North American is an affiliated company of Sammons Financial Group, Inc. (SFG) the parent of a group of companies affiliated under the insurance Holding Company Act, made up of several successful financial services companies offering a variety of financial and retirement products through multiple distribution channels. With production, product development, management and operations based in West Des Moines, Iowa, the company manufactures and distributes annuity and life insurance products through marketing organizations and independent agents in 49 states and the District of Columbia.
For more information, contact Judy Thorpe at 515-327-5816 or firstname.lastname@example.org, 4350 Westown Parkway, West Des Moines, IA 50266.