North American Income Annuity Review

north american logo

The North American Income is a single premium immediate annuity which provides an immediate payout. The North American Income is an excellent retirement planning tool that combines guaranteed income with a variety of payout options. You can choose the option that will best meet your financial goals.

The North American Income will provide security in that your payments will never fluctuate, even in the event of a market downturn. You will never have to make another decision regarding the dollars you have placed in your North American Income annuity.

Get My North American Annuity Quote Now!



  • Optional: For a 2-person annuity (joint lives)

No agent will call you

Your privacy is guaranteed.
Find advanced calculator options here.

Payment Options

The North American Income has a variety of payout options to meet your needs, including: Period Certain only; Life only; Life and Period Certain; Installment Refund; Cash Refund; Joint Life with Survivorship; and Joint Life with Survivorship and Period Certain. The payout options are available to you when you purchase the Direct Income product. Once a payment option is chosen it is set for the duration of the policy.

Period Certain Only Immediate Annuity:

Income for a fixed number of years (5 to 20), with payments continuing to a named beneficiary should death occur prior to the end of the period certain. The Period Certain payment option cannot be set up to pay out past age 100 for the owner or annuitant.

Life Only Immediate Annuity:

Payments will be made only during your lifetime. After your death, no further payments will be made. No payments will be made to an estate or any other person.

Life and Period Certain Immediate Annuity:

Income payable for your lifetime with a guaranteed payment period ranging from 5 to 20 years. If you die before the end of the period certain, payments continue to a named beneficiary until the end of that period certain. The Period Certain payment option cannot be set up to pay out past age 100 for the owner or annuitant.

Installment Refund Immediate Annuity:

Payments are made during your lifetime. After your death, your beneficiary(ies) continue to receive payments until all payments are equal to the single premium originally paid.

Cash Refund Immediate Annuity:

Testimonial Image
Just bought my first SMA and was very happy to have gone through Immediate Annuities.com. I found them in an article in the Wall Street Journal. As a first time buyer, I had a lot of questions. But to their credit, they did a great job answering my questions directly or getting the right answers from the right people when they needed to.
Allen Boaman
Read 650+ verified reviews

Payments are made during your lifetime. After your death, your beneficiary(ies) receives a lump sum payment equal to your single premium originally paid, less any payments you received.

Joint Life with Survivorship Immediate Annuity:

Income payable for your lifetime and the lifetime of your spouse. After your death or the death of your spouse, payments continue to the surviving spouse for his/her lifetime.

Joint Life with Survivorship and Period Certain Immediate Annuity:

Income payable for your lifetime and the lifetime of your spouse, with a guaranteed payment period ranging from 5 to 20 years. After your death or the death of your spouse, payments continue to the surviving spouse for his/her lifetime. If both you and your spouse die before the end of the period certain, payments continue to a named beneficiary until the end of the period certain. The Period Certain payment option cannot be set up to pay out past age 100.

Note: For either of the Joint Life options, the survivor benefit can be 50%, 66.67% or 100% and the Period Certain durations can range from 5 years to 20 years.

Payment Modes:

Monthly, quarterly, semi-annually, and annually. A particular mode will not be available if the payment is less than $50. Payments less than $100 will be available only by electronic funds transfer directly into your bank account. Once a payment mode is selected, it is set for the duration of the policy.

Premium Taxes:

Annuity payments will be reduced for premium taxes as required by the state of residence.

Death Benefit

Payments cease upon death of the annuitant. Period Certain payments (including Installment Refund annuity) continue to be paid to the beneficiary. The Death Benefit for a Cash Refund annuity will be equal to the premium paid less all benefit payments, if positive. For Joint Life with Survivorship options, upon the first death, payments continue to the surviving annuitant based on contract specifications.

Additional Benefits/Features

Issue Ages: 0-85—with life contingency (Qualified and Non-qualified) Issue Ages: 0-95—for periods certain only (Qualified and Non-qualified) Minimum Premium: $2,000 Qualified and $10,000 Non-qualified

6983Z REV 01-13

Read more about North American Company for Life and Health Insurance's annuities