Positioning
Mid-market FIA with a balance of cap rates and participation rate options. Often quoted alongside North American Strategic Diversified.
Contract terms at a glance
Crediting methods available
- Annual point-to-point with cap
- Annual point-to-point with participation rate
- Monthly sum
See How fixed indexed annuities work for how each method works.
Riders
- Optional Income Pay benefit (income rider)
- Standard death benefit
Best fit
- Consumers wanting straightforward FIA mechanics without proprietary index complexity
- Allocations seeking competitive caps with a moderate surrender period
What to watch for
- The 14-year surrender variant pays higher caps but limits liquidity for a long stretch
- Income Pay rider terms drive most of the lifetime value if income is elected
Cap rates, participation rates, rider charges, and surrender schedules change frequently. Before purchase, request and verify the following from the carrier or producer:
- Current cap and participation rate by crediting strategy
- Income Pay rider charge
- Benefit base growth rate
- Surrender schedule by variant (10 or 14 year)
How to verify and source current information
- Current rate card and product brochure: North American Co. for Life & Health direct or through a licensed independent producer.
- Statement of understanding (annuity contract disclosure document).
- For variable and indexed variable annuities: the SEC-registered prospectus (search EDGAR).
- Carrier financial strength ratings: A.M. Best, S&P Global Ratings, Moody's, Fitch.
- NAIC carrier search and statutory filings: content.naic.org.
- IRS Publication 575 (Pension and Annuity Income) for taxation: IRS Pub 575.
AnnuityMatchPro does not endorse, recommend, or sell the North American Charter Plus. This review is informational. Product features, surrender schedules, caps, participation rates, and rider charges vary by issue date, state, and underwriting. Confirm specific terms with the carrier or a licensed advisor before purchase. AnnuityMatchPro is not a registered investment adviser and is not a licensed insurance agency.