CHICAGO, IL--(Marketwired - August 04, 2015) - North American Company for Life and Health Insurance® recently announced enhancements made to the Rapid Builder IUL, part of the company's popular indexed universal life insurance (IUL) product line. Enhancements include the addition of index crediting options for potential cash value growth, as well as new living benefits in the form of accelerated death benefits for qualifying illnesses.
Accelerated death benefits are becoming an increasingly sought-after feature of life insurance because of the access to funds they provide in the event of a qualifying illness, subject to eligibility.
"By adding the new index crediting options and enhancing the living benefits available on this product, this already competitive product becomes an even more attractive solution for financial protection," said Garth A. Garlock, Senior Vice President & Chief Distribution Officer.
Indexed universal life insurance is a form of permanent insurance that provides an opportunity to accumulate cash value, based on the performance of stock market indices, without the risk of investing directly in the market. Popular features of IUL insurance include living benefits, like access to cash value in the form of policy loans, or access to the death benefit through the accelerated death benefit feature.
ABOUT NORTH AMERICAN COMPANY
North American Company for Life and Health Insurance is a member of Sammons® Financial Group, Inc. Since 1886, North American has established a tradition of providing quality insurance products to consumers throughout the U.S. We offer a comprehensive portfolio of term, universal life, and indexed universal life insurance products. North American also offers a wide variety of traditional fixed and fixed index annuities and consistently ranks among the top fixed index annuity carriers in the U.S. (Source: AnnuitySpecs, Quarterly Indexed Sales & Market Report). For more information, please visit www.northamericancompany.com.
Indexed Universal Life products are not an investment in the "market" or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.
Rapid Builder IUL is issued on policy form series LS76/LS176W with Waiver of Surrender Charge Option; by North American Company for Life and Health Insurance, Administrative Office, Sioux Falls, SD 57193. Product, features, riders, endorsements or issue ages may not be available in all jurisdictions. Limitations and restrictions may apply.
NAM-3299 7/15
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Contact Information:
CONTACT:
JOHN MYERS
Associate Vice President
Corporate Communications
Phone: (312) 648-7776
Fax: (312) 648-7770
www.sammonsfinancialgroup.com