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October 18, 2018

NAC BenefitSolutions 14

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14 year SPDA - FIA with Required Benefit Rider
Participation Rate
100%
First Year Cap
7.10%
Commission
Blurred commission%
  • 3 Benefit Rider - Income, Nursing Home Doubler, Enhanced Death Benefit
  • 1 Fixed Bucket, 6 Index Buckets to choose from
  • 14 year surrender
  • Penalties waived at death
Fixed Bucket
1st YearBaseGuar. Yrs.Min. Guar.MVAEffective
Fixed Account 3.35%3.35%10.25%Yes6/12/2018
Index BucketsShow All Buckets
Participation Cap Asset Fee Effective
This product has 5 additional buckets. Click here to show.
Product Features
Important Notes Sales to New York residents are not accepted.
Rate Protection 45-Day rate hold from the date the Home Office receives application.
Faxed applications hold rates IF original paperwork is received the next day.
Issue Ages
Ages 40‑75
• 
NQ, Q
Minimum Premium
$20,000
• 
NQ, Q
Maximum Premium $3 million per annuitant/owner
Surrender Charges
14 Years:
12-12-11-11-10-9-8-7-6-5-4-3-2-1-0%
Withdrawals 5% of AV after yr 1
5% penalty-free withdrawals increase to 10% (maximum) if no withdrawals are taken in the previous year. If withdrawals are taken, the penalty-free amount resets to 5%.
Required Distribution Penalties are waived when the RMD amount exceeds the penalty-free withdrawal amount.
Annuitization Available after year 1 with Life Contingency Option or after year 5 with minimum 5 year payout.
Death Benefit Penalties waived at death
Accumulation Value as a lump sum or the Rider Death Benefit (see rider).
Minimum Guarantee
Years 1-10
• 
1% on 87.5% of Premium
Commission
Ages 0‑75
• 
NQ, Q
• 
Blurred commission%
• 
Effective: 9/1/2016
Commission Notes Commissions paid Daily via EFT only. Note: For contracts with premiums of $500,000 or more, commissions will be held for a thirty day free-look period (beginning on the date the delivery receipt is received in the home office) in all states.
Commission Chargeback 100% first 6 months - 50% months 7-12.
First year only; upon death, surrender, partial withdrawal and RMDs.
No Chargebacks upon Annuitization.
Riders
Illness
Nursing Home Confinement Waiver
After the first contract anniversary, should the annuitant become confined to a qualified nursing home facility for at least 90 consecutive days, the available penalty-free withdrawal will be increased to 100% of the Accumulation Value. A 100% withdrawal of the Accumulation Value will terminate the contract. This rider is automatically included with the annuity at no additional charge.
Income
Benefits Rider
The Benefits Rider includes a Benefit Base, a Benefit Base Floor, Lifetime Payment Amount (LPA), LPA Multiplier (also referred to as a Nursing Home Multiplier), and a Rider Death Benefit.

Benefit Base
The Benefit Base is the amount used to calculate Rider benefits under the terms of the contract. The Benefit Base on the issue date is equal to the Benefit Base Floor and has the potential to increase. Lifetime payments are determined using your Benefit Base. On each contract anniversary during the first 20 contract years, the current Benefit Base may be increased by the weighted average percentage change in the Fixed and Indexed Accounts. The Benefit Base will be reduced for any withdrawals taken.

The Benefit Base Floor is as follows:
• 120% of premium at issue until the 5th contract anniversary, adjusted for withdrawals.
• 140% of premium on the 5th contract anniversary and until the 10th contract anniversary, adjusted for withdrawals
• 160% of premium beginning on the 10th contract anniversary and thereafter, adjusted for withdrawals
The Benefit Base Floor will be reduced for any withdrawals taken both before and after Lifetime Payments begin.

Lifetime Payments
The Lifetime Payment Amount (LPA) is determined using the Benefit Base and depends on premium, age at issue when electing to begin payments and election of single or joint LPA. Once elected, the LPA cannot increase but could potentially decrease due to partial surrenders.

LPA Multiplier
With the LPA Multiplier feature, the LPA can be doubled if confined to a nursing home for a period of more than 90 consecutive days, remain confined to that nursing home when each annual payment is due and have met the qualifying conditions each year. After meeting the conditions, the LPA Multiplier can continue to be paid out for a maximum of five payments or until the Accumulation Value reaches zero, whichever comes first. This benefit does not have to be utilized for a consecutive five year period. There is a waiting period of at least two years after the issue date before requesting the LPA Multiplier. The annuitant cannot be confined as of the issue date.

Rider Death Benefit
In the event of death, the beneficiary can choose the base contract death benefit, or one of these two Rider Death Benefit options:
1) the Benefit Base as of the date of death paid out in a series of equal periodic payments over 5 years with the first payment made upon notification of death; or
2) a lump sum equal to the Premium on the Benefits Rider Issue Date, provided no partial surrenders (other than for Benefits Rider Costs) have been taken since the Benefits Rider Issue Date.

Benefits vary for AK, CT, HI, IL, MN, MO, NJ, OR, PA, UT, VA and WA. Please see disclosure
Income Rider Features
Roll-Up Rate: n/a
Cost (Based on Income AV): 1.20%
Minimum Start Age: 50
Minimum Deferral: 2 Years
Withdrawal Percentages
AgesSingleJoint
Carrier Details
North American is rated A+ Superior with A.M. Best and is domiciled in IA. As of 12/31/2017 North American has $25.6 billion in assets, a 95% investment grade bond portfolio, and $1.36 billion in capital, surplus, and AVR. The company was first incorporated in 1886.
Contact Us
Phone:954.476.2505
Toll Free:800.327.1460
Fax:954.476.0051
Fairlane Financial Corp.
1200 S Pine Island Rd Ste 100
Fort Lauderdale, FL 33324
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