Product News

Introducing new Fidelity index designed to deliver more consistent returns over time.

North American is excited to announce the addition of the new proprietary Fidelity Multifactor Yield IndexSM 5% ER to all currently marketed North American indexed universal life insurance (IUL) products. The Index is a rules-based index that blends six equity factor indices with U.S. Treasuries, and uses a dynamic allocation approach that seeks to reduce volatility to deliver more consistent returns over time.

Introducing eDelivery with DocuSign® for Universal Life policies

Effective January 25, 2021, North American is excited to announce that our eDelivery process introduced last year is now available for the Custom Guarantee® Universal Life product.

A smarter way to meet

the growing demand for life insurance

60% of Americans are very concerned about the spread of COVID-19. Because more consumers feel they have a greater risk of contracting the virus, many have limited their out-of-home activity.1 Not surprisingly, this pandemic has also increased the demand for life insurance.2

Accelerate your life sales and get paid faster

Help your clients get coverage while social distancing with Sagicor’s Accelewriting®.

·     A completely fluid-free process

·     No doctor visits or blood and urine samples

·     No face-to-face meetings or uncomfortable tele-interviews

·     The opportunity to receive an underwriting decision in minutes

·     The speed and convenience of eApplication and eDelivery

Enhanced Growth Potential on the FIT Retirement Series
FIT Select Income and FIT Secure Growth get a power-of-indexing makeover!

With two new indexes and optional Rate Booster to choose from, you have more power to help clients grow and protect their retirement savings to be FIT — Financially Independent for Tomorrow.

2021 Interest Crediting Lineup

US Fundamental Balanced Index
Point-to-Point with Participation rate focus, no Cap

Seeks to optimize volatility through a blend of US Equities, US Treasuries and Cash. The US Fundamental Balanced Index aims to capture the low volatility premium within US Equities. The asset classes are rebalanced daily to optimize risk and the mix of US Equities is revised quarterly. Created and owned by PIMCO.

Global Balanced Index
5% Immediate Interest Credit and international exposure

Seeks to optimize volatility through a blend of Global Equities, Bonds and Commodity Sectors. The composition of the Global Balanced Index is rebalanced monthly based on the SG Sentiment Indicator which examines six cross asset indicators for expansion and contraction. The overall allocation is reviewed daily to optimize volatility. Created and owned by Societe Generale.

And, the more traditional options
S&P 500 – Point-to-Point with Cap
SP 500 – Monthly Sum Cap
Declared Crediting Strategy
Plus,

Optional Rate Booster Strategies provide greater interest crediting potential and are available on all indexed crediting options. Policyholders may:

Allocate between the boosted and non-boosted strategies.
Reallocate annually into or out of boosted strategies. Only funds allocated to Rate Booster strategies pay a 1% annual charge deducted from its Accumulation Value and rates are subject to change.

Your clients may retire sooner than they think.

Are they prepared?

Today’s pandemic has pushed many Boomers out of the job market. According to Pew Research, nearly 3.2 million Boomers retired this year. While new employment opportunities may arise, it’s always more difficult for older workers to find jobs after they’ve been laid off.1

Before your Boomer clients are pushed out of the workforce, have a discussion with them about making the transition from retirement saving to retirement spending.

Start a conversation to preheat a sale

Customize this flyer and send it to your clients.

Then schedule time to discuss solutions that can meet their retirement needs.

READY TO RETIRE FLYER

Here are three reasons why you should look at Protective^® Classic Choice term again — and NOW:

1. You can offer our term to even more clients with increased maximum issue ages across several term periods.
2. Our 35- and 40-year term periods make us one of only three carriers in the market to have level term coverage for up to 40 years.

Lower rates, expanded term options and faster technology mean your short-term business is even easier and more innovative!

Click Here for Checklist

Two updated choices to help clients protect what matters
New Principal Universal Life Provider Edge IISM
When your individual and business clients have a need for affordable coverage with long-term guarantees, Principal Universal Life Provider Edge II can help.
Highlights:
• Flexible payment levels that can fit within most budgets
• Optional extended no-lapse guarantees to age 100
• Early access to death benefits for health issues
• Innovative Business Value Increase Rider1
View product profile | Get marketing materials | Check state approvals
Re-priced Principal Universal Life Flex IIISM
The premium rates are new, but the product’s benefits remain the same. Your clients get cost-effective coverage, attractive long-term cash-value growth potential, accelerated benefits for chronic illness, and optional extended no-lapse guarantees.
Re-price overview:
• Policy charges include a combination of slight increases and decreases.
• The guaranteed minimum interest rate for cash value is now 1%.
• The No Lapse Guarantee (NLG) duration is reduced at older issue ages.
• The policy loan charge rate and loan crediting rate are reduced.

January 19, 2021

We want to begin by thanking you for your continued partnership in 2020. Despite challenges at every turn, together we were able to keep business moving forward. We hope you were able to take time over the holidays to rest and gear up for what is sure to be a busy and successful year.

As we start 2021, we acknowledge that we continue to fall short of expectations in the New Business and Underwriting operations areas. Volumes are up sharply and, when paired with the iterative interruptions and delays caused by our recent conversion to a new application processing platform, many have experienced processing times that are not on par with our normal service levels. We apologize for any inconvenience this has caused you or your clients and are working every day to improve.

In order to accelerate a return to service levels that are consistent with our commitment to you, effective January 28, 2021, we are temporarily raising our minimum face amount for term insurance to $750,000. Please see box for additional details.

At the close of last year, we successfully completed the conversion to the new processing system and have other initiatives planned for 2021 that we believe will alleviate delays and frustrations.