North American Company for Life and Health Insurance launches new Builder Plus IUL

Chicago, IL | April 17, 2018 

North American Company for Life and Health Insurance® announced the release of a new Indexed Universal Life (IUL) insurance product. The new Builder Plus IUL is a permanent life insurance policy offering death benefit protection with the ability to build cash value through interest crediting based on the performance of a selected stock index performance without participation directly in the stock market. Additional product features have been added to boost cash value potential.

Key new features include an account interest multiplier, which bumps up the interest credit by 10 percent beginning in policy year six, as well as a guaranteed 1 percent interest bonus on the index account that kicks in at policy year 111. A Return of Premium Death Benefit option is another welcome new addition2.

Builder Plus IUL also includes an improved version of North American’s popular Accelerated Death Benefit Endorsement 3. Qualifying chronic illnesses do not need to be permanent and the maximum amount that can be accelerated has been increased to $2 million (lifetime maximum for all benefits).

“We’ve kept all the popular features people love about our Builder IUL® series, and added some new ones that significantly increase cash value potential,” said Garth Garlock, North American Company’s senior vice president and chief distribution officer. “The new Builder Plus IUL is designed for death benefit protection with stronger performance and marketability.”

Builder Plus IUL keeps the popular features found in previous Builder Series products as well, including a zero percent floor on any index credits, the minimum account value, which guarantees a 2.5 percent average annual return to the account value, and index credits included on the first annual statement.

“Builder Plus IUL allows the agent to illustrate higher cash value and income potential for their clients, but it doesn’t sacrifice transparency,” said Garlock. “The way the account interest multiplier and interest bonus work is both effective and clear. This product, like all of our products, is built for real life.”

WriteAwaySM, an accelerated underwriting process that allows applicants to skip the lab tests and paramedical exams commonly associated with life insurance, will be available to qualified applicants for Builder Plus IUL. “Not only is the product more attractive, but the process of obtaining it is also faster and much less invasive with WriteAway accelerated underwriting,” said Garlock.

Builder Plus IUL is now available on North American Company’s web-based illustration software and applications can be submitted via traditional paper form or online through the SimpleSubmit® e-application, available on North American Company’s website.


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: Wink Sales & Market Report, 2017). For more information, please visit

Sammons® Financial Group is comprised of North American Company for Life and Health Insurance®, Midland National® Life Insurance Company, Sammons Retirement Solutions® Inc. and Sammons Financial Network® LLC, member FINRA

1 – Account Interest Multiplier is applied after the interest credit or index credit is determined and before any Interest Bonus.  It is not applied to the Interest Bonus or any portion of the Account Value that is Policy Debt or the Minimum Account Value.  This multiplier is conditionally guaranteed on the fixed account. North American Company will pay the multiplier only when the declared interest rate is greater than the Fixed Account Guaranteed Interest Rate shown in the policy.  The interest bonus is conditionally guaranteed on the fixed account.  North American Company will pay the bonus if we are crediting interest in excess of the guaranteed interest rate and the policy is in effect after the 10th policy anniversary.

2 – Subject to eligibility requirements.

3 – Subject to eligibility requirements. This product is not currently available California.

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.

Life insurance policies have terms under which the policy may be continued in force or discontinued. Current cost of insurance rates and interest rates are not guaranteed. Therefore, the planned periodic premium may not be sufficient to carry the contract to maturity. Failure to meet premium requirements may result in a lapse in the policy and participation in the Index Accounts. The Index Accounts are subject to caps and participation rates. In no case will the interest credited be less than 0 percent. Please refer to the customized illustration provided by your agent for additional detail. The policy’s death benefit is paid upon the death of the insured. The policy does not continue to accumulate cash value and excess interest after the insured’s death. For costs and complete details, call or write North American Company for Life and Health Insurance, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Telephone 877-872-0757.

Builder Plus IUL(policy form series LS183) and Accelerated Death Benefit Endorsement for Critical, Chronic and Terminal Illness (form series LR503) are issued by North American Company for Life and Health Insurance, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Products, features, riders, endorsement or issue ages may not be available in all jurisdictions. Restrictions or limitations may apply.