Last updated October 12, 2026. California rates are refreshed weekly; confirm today’s rate before you apply.
North American Company for Life and Health Insurance is part of Sammons Financial Group and carries one of the highest financial strength ratings among annuity carriers. I’m Kevin Edwards, an independent California annuity agent. Here’s who owns it, how it’s rated, and what it pays in California this week.
North American at a Glance
| Issuing company | North American Company for Life and Health Insurance (West Des Moines, Iowa) |
| Parent | Sammons Financial Group, indirectly owned by Sammons Enterprises |
| AM Best rating | A+ (Superior), affirmed August 2025, stable outlook |
| Sold in California | 2 MYGAs and 8 fixed index annuities in this week’s data |
| Best CA MYGA yield | 5.85% for 5 years (NAC Guarantee Plus 5) |
| Best CA S&P 500 cap | 10.10% with a 10-year surrender period (NAC VersaChoice 10) |
Who Owns North American?
North American and its sister company Midland National are owned by Sammons Financial Group, an intermediate holding company indirectly owned by Sammons Enterprises. AM Best notes that the group’s employee stock ownership plan structure supports its liquidity.
North American’s Financial Strength
In August 2025, AM Best affirmed the A+ (Superior) financial strength rating of North American and Midland National, with a stable outlook. AM Best cited very strong risk-adjusted capital, strong operating performance and a diverse distribution network, while noting that surplus notes, captive financing and a Bermuda reinsurance affiliate reduce the quality of capital.
North American Annuity Rates in California This Week
Full market tables are on my California MYGA rates and California fixed index annuity rates pages.
MYGAs (NAC Guarantee Plus)
| Product | Term | Guaranteed yield | Deposit for this rate | Lowest entry | MVA | Notes |
|---|---|---|---|---|---|---|
| NAC Guarantee Plus 3 | 3 years | 5.45% | $100,000+ | $20,000+ at 5.05% | Yes | — |
| NAC Guarantee Plus 5 | 5 years | 5.85% | $100,000+ | $20,000+ at 5.60% | Yes | — |
Fixed Index Annuities (S&P 500 annual cap)
| Product | Surrender period | S&P 500 cap | Guaranteed min. cap | Riders | Notes |
|---|---|---|---|---|---|
| Performance Choice 8 | 8 years | 8.90% | 0.50% | None | MVA |
| NAC VersaChoice 10 | 10 years | 10.10% | 0.50% | None | MVA |
| NAC VersaChoice 10 (ELB) | 10 years | 10.10% | 0.50% | 1 optional | MVA |
| NAC Control. X | 10 years | 9.50% | 0.25% | 1 optional | MVA |
| Charter Plus 10 CA FEE | 10 years | 5.75% | 0.50% | Rider required | — |
| BenefitSolutions 10 | 10 years | 5.00% | 0.50% | Rider required | MVA |
| Income Pay Pro 10 | 10 years | 5.00% | 0.50% | 2 optional | MVA |
| Charter Plus 14 CA FEE | 14 years | 6.50% | 0.50% | None | — |
Some North American index annuities (NAC Guaranteed Allocation 5, 7 and 10) don’t show a guaranteed minimum cap in the rate data, so they aren’t listed here or on my California index annuity rates page. Ask me if you’ve been shown one.
My Take on North American
Where North American fits: buyers who want an A+ carrier. NAC Guarantee Plus 5 pays 5.85% on $100,000 or more, above Athene’s 5.80% for the same term (also A+) and 0.25 points below the 5-year leader.
What to watch:
- The best MYGA rates need $100,000. From $20,000 to $99,999, Guarantee Plus pays 0.25 to 0.40 points less.
- Index annuity minimum caps are 0.50% (0.25% on Control. X), so renewal caps depend on North American’s future pricing. Ask for the renewal history.
- Performance Choice 8 is the only 8-year index annuity in this week’s California data, so its “top 8-year cap” isn’t a meaningful ranking.
- Two Charter Plus products include “FEE” in the name; ask what the fee is charged for before choosing them.
How North American Compares in California
| Term | North American (best) | Best in California | Leader |
|---|---|---|---|
| 3-year MYGA | 5.45% | 5.70% | Oxford Life Multi-Select 3 |
| 5-year MYGA | 5.85% | 6.10% | Aspida Synergy Choice 5 / Axonic Waypoint 5 |
| 10-year S&P 500 cap | 10.10% | 12.00% | Delaware Life Target Growth 10 |
See my Athene review for another A+ carrier, or browse all annuity company reviews.
Frequently Asked Questions
Who owns North American Company?
North American Company for Life and Health Insurance is part of Sammons Financial Group, which is indirectly owned by Sammons Enterprises. Midland National is its sister company.
What is North American’s AM Best rating?
AM Best affirmed North American’s A+ (Superior) financial strength rating with a stable outlook in August 2025.
What is North American’s best MYGA rate in California?
As of October 12, 2026, its best California MYGA yield is 5.85% for 5 years (NAC Guarantee Plus 5) on $100,000 or more, or 5.60% from $20,000.
Do North American annuities have an MVA?
Both NAC Guarantee Plus MYGAs and most of its index annuities in this week’s California data carry a market value adjustment.
Get a Side-by-Side Quote Before You Buy North American
I’m an independent agent, so I’m not tied to North American or any other carrier. Tell me your deposit, timeline and whether you need income, and I’ll compare North American’s products against the rest of the California market and send you the side-by-side. Request a free annuity quote, or call (877) 854-7396.
Sources
- AM Best Affirms Credit Ratings of Sammons Financial Group, Inc. and Its Subsidiaries (Aug. 2025)
- California fixed annuity (MYGA) rates, Fixed Annuity Expert
- California fixed index annuity rates, Fixed Annuity Expert
Rate source: AnnuityRateWatch.com carrier data via AIP Marketing Alliance, retrieved October 12, 2026, filtered to products available to California residents. MYGA rows show guaranteed yield to surrender; FIA rows show the S&P 500 annual point-to-point cap on strategies with a 0% floor, no strategy fee and a stated guaranteed minimum cap. Products sold only through fee-based advisory accounts are excluded. Rates change without notice and must be verified with the issuing carrier at application.
Kevin Edwards, Integrity Now Insurance Brokers. California Insurance License #0D42517. Annuities are insurance products, not bank deposits, and are not FDIC insured. Fixed index annuities are not a direct investment in the stock market or any index; index-linked interest is subject to caps the insurer may change annually, subject to the guaranteed minimum. Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Financial strength ratings are opinions of the rating agency, can change at any time, and are not a guarantee of an insurer’s ability to pay claims. Withdrawals before the end of the surrender period may be subject to surrender charges and market value adjustments; withdrawals of taxable amounts may be subject to ordinary income tax and, if taken before age 59½, a 10% federal tax penalty. This page is independent and is not affiliated with or endorsed by any insurance company named. It is for educational purposes and is not tax or legal advice. Product availability and features vary by state. S&P 500® is a registered trademark of Standard & Poor’s Financial Services LLC.