North American is updating the conversion privileges for new sales of ADDvantage® Term. These
changes put us in line with industry standards while also ensuring our products are aligned with the long-term focus you have come to expect from North American.
Please note the following changes to term conversion privileges, effective April 23, 2022.
Term Length Current Term Privileges New Term Privileges
10-year Earlier of 10 years or age 75 Earlier of 7 years or age 70
15-year Earlier of 15 years or age 75 Earlier of 12 years or age 70
20-year Earlier of 20 years or age 75 Earlier of 15 years or age 70
30-year Earlier of 30 years or age 70 Earlier of 20 years or age 70
North American’s ADDvantage Term is convertible to any currently marketed permanent product,
– Builder Plus IUL® 3
– Protection Builder IUL®
– Smart Builder IUL® 2
– Custom Guarantee® Universal Life
New Business deadlines
To receive the current conversion periods, applications will need to be signed by April 22, 2022, and received by April 30, 2022.
Note: if a new application is required for any reason (for example: due to
contracting), the conversion period received will be based on the application signed date of the final application received.
Inforce ADDvantage Term policies
Inforce ADDvantage Term policies will have no change to their conversion period.
With NFG Brokerage, you no longer need to depend on a one size fits all approach. We work hard for you to create customized insurance strategies to help you deliver the most affective solutions to your clients. Your success is our success...don't delay!
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.