North American Company
for Life and Health
About: North American Company for Life and Health is based in Chicago and was founded in 1886. Their quality term and universal and annuity products are sold in 49 states and in Washington, D.C. North American Company for Life and Health Insurance of New York, the company’s subsidiary, provides insurance products to the residents of New York only. The company is a member of the Insurance Marketplace Standards Association (IMSA), a voluntary organization formed to increase the ethical standards practiced by insurers. Their diverse but uncomplicated products give consumers the opportunity to understand their options and make informed decisions in the purchase of their life insurance policies. As of year-end 2008, North American had more than $105 billion in life insurance in-force and more than 10 billion in assets. The company is privately owned and is not subject to short term market swings that plague other companies.
Offerings: North American offers a comprehensive portfolio of competitive term and universal life products.
Unique Features: North American goes one step further than many insurers by offering an indexed universal life insurance policy. Their indexed ULs, Builder IUL and Guarantee Builder IUL, are permanent products (like a standard UL) but premiums that exceed the cost of insurance are credited to sub accounts that accrue interest, at least in part, based on the movement of various stock indices.
The North American IUL is only available in certain states and has two different interest crediting methods as well as upper and lower interest limits.
Ratings: A.M. Best rates the company an A+ and Standard & Poor's has also awarded them an A+ rating.
Location: 525 West Van Buren St., Chicago, IL 60607
Phone: (800) 800-3656
*This page was last updated July, 2011. Ratings and general information
provided at that time are believed, but not guaranteed, to be accurate.
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