North American Growth Index Global Life Product Line
Des Moines, Iowa, May 24, 2021 / PRNewswire / – North American Life and Health Insurance Company® (North America) now offers an Indexed Universal Life (UI) product that provides death indemnity protection that life insurance cannot, while accumulating potential cash value over time. term for other purposes (including helping to increase retirement income). Builder Plus IUL 3 is a new member of the IUL innovative product portfolio in North America.
“Obtaining and increasing cash value is critical, as clients often have to purchase protection years (or even decades) before they need to help increase their retirement income. In this case, time is actually money ”. Jerry blair, North America, director of distribution. “This policy responds to growing consumer demand – how to protect your family while having the opportunity to accumulate cash value or tax benefits for all of your financial assets.”
This IUL insurance product can help clients looking to plan for their financial future. Builder Plus IUL 3 is ideal for the following users:
- Need protection in the event of death
- If they die in labor, worry about their family’s financial needs
- People who have maximized a 401 (k) savings plan or individual retirement account – or who may not be eligible for the IRA
- High income, a large number of assets to protect, or both
- Those looking for opportunities to mitigate the tax impact on future retirement funds
Blair said, “The product is designed to be competitive in terms of potential future sources of additional income.” “This is usually necessary when policyholders are facing retirement. It also allows the product to stand out in a crowded market. ”
New IUL includes Fidelity Multifactor Return IndexSM The 5% ER option is part of its strategy to reduce volatility.The Fidelity Index is unique in North America1 piece, The current participation rate is 125% and there is no upper limit. From the first year, you will receive an unsecured bonus of 1.65%, and there will be an unsecured bonus of 2.65% in the 11th year and beyond. The interest rate can change. .
Builder Plus IUL 3 offers participatory policy loans at a fixed rate2 rooms Use the stated interest rate and participate in the index account. The policy is available for the first year and currently earns a 2% interest premium, but it does not meet any other interest bonus conditions. This type of loan can better manage the cash value and provide opportunities for improving financial performance.
In addition, if the client is diagnosed with a qualifying illness, they may receive a portion of the death insurance payment while living through the accelerated death insurance payment.
In order to simplify the application process, Builder Plus IUL 3 can speed up the speed of subscription, and if it is not possible or unwilling to hold a face-to-face meeting, you can skip the test or lab exam, you can apply online, or you can use the eSignature option.
North American Growth Index Global Life Product Line / 2-2-2
About the North American Life and Health Insurance Company
North American Life and Health Insurance Company® Yes member Sammons® Financial Group Co., Ltd. Since 1886, North America has established a tradition of providing high quality insurance products to consumers throughout the United States. We offer a comprehensive portfolio of term insurance, universal life insurance and indexed universal life insurance products.North America also offers a variety of traditional fixed and fixed index annuities and has consistently ranked in the top ten. largest fixed index annuities in the United States. (Source: WINK Sales and Marketing Report and LIMRA Institute for Safe Retirement). Want to find more information, Please visit here.
- Part of the Sammons Financial Group, it is exclusively available in North America. North America has authorized Fidelity’s 5% ER multifactor rate of return for its IUL products.
- If the amount of credit obtained is less than the interest charged, the net cost of participating in a fixed interest rate policy loan may be negative. If the amount credited is less than the interest charged, the net cost of the loan may also be greater than the net cost of the loan on a standard insurance policy. In an extreme example, the amount credited can be zero and the net cost of the loan is equal to the maximum interest rate charged minus the guaranteed dividends. In short, in terms of interest rates, fixed rate loans carry more uncertainty than standard policy loans.
Fidelity Multi-Factor Yield 5% ER (“Index”) is a multi-asset index for those with attractive valuations, high quality profiles, positive momentum signals, low volatility and relatively high dividends provide exposure. As a US Treasury bill, it can reduce volatility over time. Fidelity and its associated marks are service marks of FMR LLC. Fidelity Products and Services Co., Ltd. (“FPS”) has used the index license for certain purposes to North American Life and Health Insurance Company® (Hereinafter referred to as the “Company”) represents the product. The Index is the exclusive property of FPS and its compilation and compilation process does not take into account the needs of the business, product or product owner, including, but not limited to the needs of business suitability. FPS or any other party related to or related to production or indexing does not sell, sponsor, endorse or promote the product. The company is free to determine if and how the product relates to the value of the index. FPS will not provide Product Owners or any other person or entity with investment advice on the Index and under no circumstances will any Product Contract Owner be considered a client of FPS.
FPS or any other party involved or connected with the development or compilation of an index is not obligated to continue to provide the company with an index of the product. FPS or any other party connected with or connected with the compilation or compilation of the index makes no representations regarding the index, index information, performance, annuities or products in particular. Fidelity Products Services Co., Ltd. makes no express or implied warranties, including all warranties of merchantability or suitability for specific purposes or uses. Fidelity Product Service Co., Ltd. assumes no responsibility for this product.
Global indexed life insurance products are not investments in the “market” or applicable indices and are subject to all policy fees normally associated with most global life insurance policies.
Builder PlusIUL®3 Issued by the LS191 Policy Forms Series or State version containing all applicable endorsements and additional conditions, North American Life and Health Insurance Company®,administrative office, One Sammons Square, Sioux Falls, SD 57193. Not all products, features, additional terms, endorsements, or age issues are available in all jurisdictions. Restrictions or restrictions may apply.
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Source: North American Life and Health Insurance Company