Performance Choice 8 deferred, flexible-premium, fixed index annuity is an 8-year retirement savings plan designed to accumulate wealth while protecting from market volatility.
You’ll earn a 2% premium bonus on premiums received in the first five years, providing an immediate boost to your savings.
The value will grow at a rate based on the fixed or index account (or index accounts) you choose.
Index accounts are tied to market performance, but they are not an actual investment in the stock market.
In downtimes, when the market sees zero gains or actually loses value, your premium will never be at risk of decreasing due to those losses.
Features and Benefits
Premium Bonus (8 Plus)
Get a bonus on all premiums received in the first five contract years. No matter the amount, you can earn interest credits on any premium bonus credited to your accumulation value.
Choose a strategy that suits you.
North American’s Performance Choice offers a wide selection of index strategies, allowing you to find a comfortable fit, no matter your personal financial approach.
Lock-in interest credits each contract anniversary.
One advantage of fixed index annuities is an annual reset feature, which applies to this annuity no matter which crediting method you choose.
With the annual reset, any interest credits are added, or credited, to your accumulation value on each contract anniversary.
Once credited, they are locked in.
That means they can’t be taken away due to negative index performance.
At that point, they are included in your accumulation value, giving you the advantage of compounding interest in subsequent years.
Also, by resetting your starting index value at the same time, this feature can help minimize your risk if the index experiences a severe downturn.
Without it, you’d have to wait for the index value to climb up to its original level before any interest credit could be realized.
Tax deferral improves growth potential.
Your money grows on a tax-deferred basis, meaning more of it is working for you.
Growing your money tax-deferred means you don’t owe taxes until you access your money, allowing more time for growth potential.
Work with your tax advisor to find out how this might work for you.
Provide a lasting legacy.
Your beneficiaries will get the remaining accumulation value of your annuity as a death benefit – either in an immediate lump sum or in installments.
And, because annuities may avoid the costs and delays of probate, they may not have to wait.
Please consult with and rely on your own legal or tax advisor.
North American Life Insurance is also an inexpensive way to leave a death benefit to beneficiaries.
