North American Guarantee Choice 9 Annuity Review

north american guarantee choice 9

North American's Guarantee Choice 9 annuity is a fixed deferred annuity that provides compounded, tax-deferred growth. Your annuity will grow at a fixed interest rate that is determined at contract issue. North American also offers a 10 year rate guarantee, an 8 year rate guarantee, a 7 Year rate guarantee, a 6 Year rate guarantee, a 5 Year rate guarantee, a 4 Year rate guarantee, and a 3 year rate guarantee.

Guarantee Choice 9 Annuity Highlights:

Frequently Asked Questions About the Guarantee Choice 9 Annuity:

Q: Does the interest compound? A: Yes.

Q: Is the interest taxed? A: The interest you leave in the account grows tax-deferred until you withdraw it. That interest is not taxed within the annuity. This is an advantage over interest you earn on a bank CD which is taxed each year even if you leave it in the CD.

Q: Are there any fees? A: No. There are no upfront sales charges or ongoing maintenance fees.

Q: Is it FDIC insured? A: No. FDIC insurance is only for bank deposits. Fixed annuities are guaranteed by the issuing insurance company.

Q: What are the early surrender charges? A: The early surrender charges only apply to withdrawals which are greater than the penalty free amount. If surrender charges apply, they start at 9.30% and decline to 0% after the 9th year. The schedule is 9.30%, 8.40%, 7.50%, 6.60%, 5.70%, 4.75%, 3.80%, 2.85%, 1.90%.

Q: Are penalty-free withdrawals available? A: Yes. You can withdraw the cumulative interest earned after the first contract year without Surrender Charge or MVA.

Q: If I withdraw more than the penalty-free amount, will a Market Value Adjustment (MVA) be applied? A: Yes. You can read more about market value adjustments here.

Q: What happens after the initial 9 year rate guarantee period? A: You have a 30 day window to do whatever you want with the full cash value any penalties. You can remove all of it or let your cash balance roll over into a new 9 year rate guarantee period.

Q: What happens to the money in my account if I die? A: Your beneficiaries will receive the full account value.

Q: How do I apply? A: Start by calling 800-872-6684 or fill in the "Get My Free Quote" form in the upper right section of this page.

Q:What is the minimum premium I need to pay? A:$10,000.

Q:Are there any age restrictions? A:Yes. You can purchase this annuity up to age 90. In some states the age requirements may differ.

Q:In which states is the Guarantee Choice 9 available? A: The Guarantee Choice 9 annuity is not available in all states. Call 800-872-6684 to find out if it's available in your state.

To review the Guarantee Choice 9 annuity with an agent or to receive a free personalized illustration call 800-872-6684 or fill in the "Get My Free Quote" form in the upper right section of this page.

Read more about North American's Deferred Annuities on the North American site.

See which other annuities are really popular here.