North American Launches a new MYGA

Effective Oct. 26, North American is launching NAC Guarantee Plus, a multi-year guarantee annuity (MYGA), which will replace North American Guarantee Choice multi-year guarantee annuity. After the launch date, applications for the Guarantee Choice will no longer be accepted. A few highlights of the new product enhancements are:

  • Guarantee periods: 3-, 5-, and 7-year available.
    • 10-year option not available.
  • Re-entry option: Renewal options available for your clients when the guarantee period is up, including the option to re-enter a 3-, 5-, or 7-year guarantee period.
  • Penalty-free withdrawals: Equal to the interest earned in the previous contract year.

The new Guarantee Plus will require every agent to complete new product training prior to new applications.

Training can be completed on RegEd using the code 21SFGNAC_02

New business guidelines

The new MYGA applies to applications signed on or after Oct. 26, or submitted through e-App on or after Oct. 26.

To receive the current North American Guarantee Choice product, applications must be signed before Oct. 26, or submitted through e-App before 11:59 p.m. Central Time Oct. 25.

Click to view the updated Rate Sheet and Quick Reference Guide

To get help with new illustrations or for more information, call 801-568-2626 or email us at [email protected]

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