North American is always striving to raise the bar for you and your clients. Most recently, we have raised the interest rate on the Premium Deposit Agreement in the Premium Deposit Account (PDA) to 4% to help bring more value and growth potential to your clients’ life insurance policies!
Why choose a PDA?
- Worry-free premium payments – submit a lump sum to automatically fund annual premium payments
- Growth – the new 4% interest rate will be applied to the funds taken from the PDA, creating a larger death benefit and cash value potential
- Avoid Modified Endowment Contract (MEC)1 status – spreading out payments can help avoid MEC status and having to pay additional taxes.
Show your clients how a PDA can help strengthen their financial future.
Click here for the full bulletin.
- August 8, 2023
- Benkis Barrueta
- Carrier News, Life Insurance, North American
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