[INCREASE] Charter Plus Premium Bonus Special + MYGA Rates Effective 04/19/2024
Effective April 19
NEW premium bonus special1 on North American Charter Plus and MYGA rates increase
North American Charter® Plus fixed index annuity
Premium bonus special on all premium received in the first three years
- Up to 11% premium bonus on 10-year
(10% base premium bonus plus 1% premium bonus special,
based on high-band rates) - Up to 14% premium bonus on 14-year
(13% base premium bonus plus 1% premium bonus special,
based on high-band rates) - PLUS, take advantage of the additional 9% enhanced premium bonus on the 10-year or 12% enhanced premium bonus on the 14-year with the optional enhanced bonus rider (EBR – for a cost2)
NOTE: In California, the premium bonus special is not available on the 10-year, and the EBR is not available.
NAC Guarantee Plus®
Multi-year guarantee annuity (MYGA)
| Surrender charge period3 |
New high band |
Was | New low band |
Was |
| 3-Year | 5.20% | 5.10% | 4.75% | 4.65% |
| 5-Year | 5.40% | 5.30% | 5.15% | 5.05% |
| 7-Year | 5.30% | 5.20% | 5.00% | 4.90% |
High band: $100,000 or more. Low band: Less than $100,000.
7-year rates not available in California and Florida. Rates are subject to change at any time.
NEW BUSINESS GUIDELINES
- The premium bonus changes above apply to applications received or submitted through Annuity e-Biz on or after April 19.
- The MYGA changes above apply to applications signed or submitted through Annuity e-Biz on or after April 19.
Find updated materials on our website by April 23.
1. Premium bonus special is for a limited time. Premium bonus and enhanced premium bonus may vary by annuity product, premium band and surrender charge period selected and may be subject to a premium bonus and enhanced premium bonus recapture. Products that have premium bonuses may offer lower credited interest rates, lower index cap rates, lower participation rates and/or greater index margins than products that don’t offer a premium bonus. Over time and under certain scenarios the amount of the premium bonus and enhanced premium bonus may be offset by the lower credited interest rates, lower index cap rates, lower participation rates and/or greater index margins. The premium bonus and enhanced premium bonus are not recaptured in the event of death of the annuitant. No premium bonus or enhanced premium bonus recapture will occur on any penalty-free withdrawal amount under the nursing home confinement waiver or on any rider charge.
2. EBR can only be elected at product issue. Rider charge is 0.95% of accumulation value at each contract anniversary during the surrender charge period. This rider charge is considered a penalty-free withdrawal, and does not reduce the penalty-free withdrawal available to you. The rider charge, under certain scenarios, may result in loss of premium.
3. A surrender during the surrender charge period could result in a loss of premium. The surrender charge and interest adjustment (also known as market value adjustment) may reset with renewal. Surrender charge structures and guarantee periods may vary by state