The North American Charter Plus 14 is a deferred fixed indexed annuity issued by North American Co for Life & Health Ins.
This annuity is a premium banded product. The rates you are eligible to earn will vary depending on the amount of premium you deposit (see Rate Details below). Currently, the highest upfront bonus available is 10.00% on premium amounts of $75,000 - $1,000,000. When your full premium deposit is allocated to the fixed interest account, the highest first year yield available (including bonus if applicable) is 11.87% on premium amounts of $75,000 - $1,000,000.
You can also allocate your premium between 7 different strategy and index account options (see Index Account Options below). For complete details on index account options, including current cap and participation rates, please contact AnnuityAdvantage at 1.800.239.0356.
During the time in which the annuity is subject to surrender penalties, there are policy provisions that allow partial access on a penalty free basis. Beginning in the second contract year, this annuity provides up to 10% (noncumulative) of the contract value as the penalty free withdrawal amount that may be withdrawn from the annuity each contract year.
This annuity also waives withdrawal penalties upon death. Your named beneficiary(ies) will receive a death benefit equal to the full accumulation value. A beneficiary may choose to receive their death benefit in either a lump sum or select an available annuitization option.
Details on additional penalty waivers can be found in the Penalty Free Withdrawal Provisions section below.
North American Co for Life & Health Ins is rated “A+” by A.M. Best, was founded in 1886, and has over $32.3 billion in total assets.