North American Company For Life and Health Review

One of our primary goals at Insurance and Estates is to provide our visitors with the knowledge needed to make the best choice regarding the carrier and plan they choose. In the following North American Company review, we will cover the strengths of the company, its ratings, its history, and its various products and features. North American Company is a top life insurance company in the U.S. But is North American the right company for you? Let’s find out.

About North American Company

North American Company is part of Sammons Financial Group. The company was founded under the name North American Accident Association and has been in business for over 130 years.

The company is privately owned and operates in a similar fashion to a mutual company in that it does not need to answer to shareholders and the short-term earnings pressures publicly traded companies are under. This structure allows the company to prioritize long-term customer value and stability.

North American Company boasts over $117 Billion life insurance in force and over $22 Billion in assets. The company is committed to a disciplined and conservative investment strategy which is reflected in its various ratings.

North American Company Ratings & Financial Strength

North American Company boasts some very strong financial ratings, demonstrating its continued financial stability and ability to meet its obligations to policyholders.

Rating Agency	Rating	Status/Category
A.M. Best	A+ (Superior)	Consistently rated A or higher for over 50 years
S&P Global	A+ (Strong)	Affirmed May 2024 (5th highest of 22 ratings)
Fitch	A+ (Stable)	Assigned June 2024 (5th highest of 19 categories)
Comdex Ranking	89	Out of 100
Better Business Bureau	A+	Not accredited

2025 Product Innovations & Updates

Protection Builder IUL® 2

Launched in January 2025, the Protection Builder IUL® 2 is North American’s newest indexed universal life insurance product. Key improvements include:

• Enhanced Pricing: Lower premiums for many age and risk classes
• Stronger Guarantees: Guaranteed death benefit up to age 120 with the Premium Guaranteed Rider
• Improved Competitiveness: Better positioning among similar products in the marketplace
• Flexible Design: Optimized for legacy building, estate planning, and emergency funding

NAC Guaranteed Allocation FIA

This new fixed index annuity was designed specifically to take advantage of higher interest rate environments, providing clients with better growth potential while maintaining the safety features of fixed annuities.

North American Products & Services

North American offers products and services in two primary areas:

Term Life Insurance

ADDvantage Term Life Insurance

North American offers convertible term life insurance available for 10, 15, 20 or 30 years. The policy can be converted to permanent life with no evidence of insurability required.

Benefits of Term Life Insurance

• Lower Initial Cost
• Income Protection
• Mortgage Protection
• Conversion Option

Universal Life Insurance

North American Company for Life and Health offers Universal Life insurance, which is permanent coverage with a flexible death benefit and premium. In addition, universal life insurance builds cash value, which grows over time via premium payments and interest accrued.

Custom Universal Life

A permanent life policy to age 120. Premiums are paid until age 100.

Indexed Universal Life Insurance

North American offers multiple indexed universal life insurance products, including:

IUL Product	Key Features
Protection Builder IUL® 2 (New for 2025)	Enhanced pricing, stronger guarantees, death benefit protection up to age 120 with Premium Guaranteed Rider
Builder IUL	Balanced design for both death benefit protection and cash value accumulation
Guaranteed Builder IUL	Stronger death benefit guarantees with moderate cash value potential
Rapid Builder IUL	Designed for early high cash value growth, ideal for infinite banking strategies
Survivorship GIUL	Covers two lives, typically less expensive than individual policies, ideal for estate planning

Rapid Builder IUL Spotlight

This is our favorite indexed universal life insurance policy from North American Company. If you are considering an IUL and you want early high cash value growth, this is definitely a policy to consider.

Some of our clients who practice infinite banking with their policy are interested in IUL. The Rapid Builder IUL is definitely on the short list of recommended IUL policies when becoming your own banker.

Key IUL Features

• No Premium Load: 100% of your premium (less monthly deductions) is applied to the policy and eligible for interest credits
• Daily Averaging: Allows premiums to be credited to the indexing account the next business day after received
• Loan Options: Both standard (fixed) and variable loan options, with ability to switch between types
• Overloan Protection: Keeps the policy in force when excessive loans are taken
• See How IULs Work for more

Available Index Options

• The Standard & Poor’s 500® Composite Stock Price Index (S&P 500)
• The Standard & Poor’s 400® Index (S&P MidCap 400)
• The NASDAQ-100® Stock Price Index (NASDAQ-100)
• The EURO STOXX 50
• The Russell 2000 Index
• Multi-Index—An index option based on the performance of the S&P 500, Russell 2000, and the EURO STOXX 50

Survivorship GIUL

Survivorship life insurance covers the lives of two individuals. It is typically less expensive than a policy on just one person and is an ideal choice for estate planning using life insurance to maximize your estate value.

Annuities

North American offers different types of annuities, including:

Annuity Type	Featured Products	Key Benefits
Fixed Indexed Annuities	VersaChoice 10℠ PrimePath Pro® NAC Guaranteed Allocation FIA	Enhanced liquidity, multiple index strategies, return of premium features, nursing home waivers
Traditional Fixed Annuities	North American Guarantee Choice℠	Terms from 3 to 10 years, multiple payout options, penalty-free withdrawals of interest earned after year one
Single Premium Immediate Annuities	North American Income®	Seven payout options, customizable schedules, $25,000 minimum premium

Life Insurance Riders & Endorsements

Chronic Illness Accelerated Benefit Rider

North American Company’s Chronic Illness Accelerated Benefit Rider (CIABR) is automatically included on many of the Company’s new permanent life insurance policies. With the growing costs associated with long term care (LTC), having either a long term care or chronic illness rider can provide financial relief if you have need to LTC.

In order to qualify, you must be diagnosed within the last 12 months with a qualifying chronic illness by a certified physician and wait until the 90 day elimination period has passed after you file your chronic illness claim. Further, you must be either unable to perform at least 2 of 6 activities of daily living or have a severe cognitive impairment that poses a threat to your health and well being.

The chronic illness rider is available on most newly issued policies for applicants up to age 75. You can request up to 24% of the total death benefit, up to $240,000 a year. The maximum amount of advanced death benefit allowed is $1,000,000.

Other Available Riders and Endorsements

Not all the riders and endorsements listed below are available for all North American Company life insurance policies. Further, riders and endorsements vary from state to state.

• Accelerated Death Benefit: pays you a portion of the death benefit in advance (while alive) if you are diagnosed with a qualifying condition.
• Guaranteed Insurability: an excellent rider when considering life insurance for kids, it is available for ages 15 days to 40 years. The guaranteed insurability rider provides the option to purchase additional coverage without having to provide proof of insurability.
• Waiver of Monthly Deduction: if you are totally disabled for 6 months, this rider waives monthly charges, monthly loads, administrative fees, and any other rider charges.
• Premium Guaranteed Rider: Available with the new Protection Builder IUL® 2, guarantees the death benefit up to age 120.

Benefits of Cash Value Life Insurance

Tax-free Life Insurance Policy Loans

Life insurance loans from the carrier using your cash value as collateral are income tax free, unless the policy is considered a MEC*. Additionally, you can withdraw cash from your policy up to your basis without creating a taxable event.

*You can go here to read more what is a modified endowment contract (MEC).

Tax-deferred Cash Value Growth

Under IRC 7702, cash value life insurance grows tax deferred. If you practice proper policy management, you may never need to pay taxes on the cash value growth.

Tax-free Death Benefit

Typically, your life insurance beneficiary receives the death benefit income tax free.

However, a death benefit may be taxed is if your estate exceeds the federal estate tax exemption limit or you live in a state with an inheritance tax.

Therefore, if you have a large estate and live in a state with an inheritance tax, careful asset protection planning is recommended.

Contact Information

Department	Contact Information
General Customer Service	866-322-7069
Life Insurance Support	866-322-7069 LifeCorrespondence@SFGmembers.com
Annuity Support	866-322-7069 annuitycorrespondence@sfgmembers.com
Claims	877-880-6367
Marketing/Sales	866-322-7066 nannuities@sfgmembers.com
Corporate Addresses	525 W. Van Buren, Chicago, IL 60607 8300 Mills Civic Parkway, West Des Moines, IA 50266 One Sammons Plaza, Sioux Falls, SD 57193
Website	www.northamericancompany.com
Business Hours	Monday–Thursday: 7:30 AM–5:00 PM CT Friday: 7:30 AM–12:30 PM CT

North American Company Life Insurance Review Conclusion

North American Company for Life and Health Insurance is a fantastic insurance company, offering many great life insurance policies to meet just about everyone’s needs. Their strong financial ratings, innovative product lineup, and customer-focused ownership structure make them a compelling option to consider.

However, the reality is there is no one-size-fits-all company. Rather, the right company and policy design will depend on many factors, including your specific needs, goals, and objectives.

Have questions or would you like to see an illustration for North American or any of the other cash value life insurance companies we represent?