Chicago, IL | August 4, 2015
Accelerated death benefits are becoming an increasingly sought-after feature of life insurance because of the access to funds they provide in the event of a qualifying illness, subject to eligibility.
"By adding the new index crediting options and enhancing the living benefits available on this product, this already competitive product becomes an even more attractive solution for financial protection," said Garth A. Garlock, Senior Vice President & Chief Distribution Officer.
Indexed universal life insurance is a form of permanent insurance that provides an opportunity to accumulate cash value, based on the performance of stock market indices, without the risk of investing directly in the market. Popular features of IUL insurance include living benefits, like access to cash value in the form of policy loans, or access to the death benefit through the accelerated death benefit feature.
ABOUT NORTH AMERICAN COMPANY
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.
Rapid Builder IUL is issued on policy form series LS76/LS176W with Waiver of Surrender Charge Option; by North American Company for Life and Health Insurance, Administrative Office, Sioux Falls, SD 57193. Product, features, riders, endorsements or issue ages may not be available in all jurisdictions. Limitations and restrictions may apply.