North American Company for Life and Health Insurance Review [2024]

Quick Facts: North American Company for Life and Health Insurance

With an A.M. Best rating of an A+, the North American Company for Life and Health Insurance offers a range of life insurance options.

North American Company Life Insurance has been around for over 120 years and offers several types of term life insurance with features like accelerated death benefit, conversion option, Children’s Life Insurance Rider, and more.

This North American life insurance review provides the basic company and policy information you need to help you decide if the company is right for your needs.

We’ll also look at North American Company for Life and Health Insurance rates and more.

Before we get started on this review, enter your ZIP code into our free quote tool to start comparing rates for life insurance in your area today.

The Reputable North American Insurance Company

When it comes to insurance in North America, the North American Life Insurance Company in Chicago are prominent players. Known for their comprehensive policies and excellent customer service, these companies have garnered high North American ratings.

Customers can easily manage their policies through the North American life insurance login portals, which provide a seamless user experience. The North American Insurance Company provider’s phone number  offers direct lines of communication for any inquiries, ensuring prompt and reliable assistance.

Additionally, companies like North American insurance offer a variety of insurance products, including North American term Insurance and North American life and health policies. The North American Company Annuity login allows customers to access and manage their annuity plans effortlessly.

Health insurance in America often emphasizes the review, reliability, and value of the health insurance options provided by these firms.. The North American Insurance Company rating reflects their commitment to financial stability and customer satisfaction, making them trusted choices for insurance needs.

With such high North American Company ratings, it’s clear that these companies are dedicated to offering quality insurance solutions to their clients.

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Exploring North American Insurance Options

When considering insurance options, North American Insurance stands out as a prominent provider. The North American Life Insurance Company, also known as the Life Insurance Company of North America, offers a wide range of policies to meet diverse needs.

Customers can easily reach them through the North American life insurance phone number for personalized assistance. As a part of Sammons Financial Group, the North American Sammons Financial Company reviews highlight its reliability and customer satisfaction.

For more detailed information and resources, visiting their website at mynorthamericancompany.com is highly recommended.

In addition to life insurance, the North American Annuity products provide valuable financial planning tools. Prospective clients can explore the North American Annuity reviews and the company’s overall reputation, reflected in the North American life insurance rating.

Reviews on various platforms, such as the North American Company reviews, indicate the company’s commitment to excellent service and customer care.

For more information or to get in touch, the North American Life Insurance Company website is a comprehensive resource, offering insights into products, services, and the company’s history. The North American Company customer service team is also available to address any inquiries and provide support.

Comprehensive Review of North American Insurance Services

When considering insurance options in North America, the North American Insurance Company and its counterpart, the North American Life Assurance Company, stand out for their comprehensive coverage and reliable services.

Both companies offer a variety of insurance products, including North American Annuities and North America life insurance, ensuring that clients have access to plans that suit their unique needs. A thorough North American Company life insurance review reveals the company’s commitment to customer satisfaction and financial security.

Additionally, the North American insurance rating is consistently high, reflecting the company’s strong financial health and excellent customer service. Reviews from customers and industry experts alike praise the company for its transparent policies and dependable support, as seen in numerous North American Insurance services reviews.

In addition to life insurance, North American companies provide a range of annuity products, including fixed annuities and indexed universal life (IUL) insurance. North American Annuity rates are competitive, offering clients favorable returns on their fixed investments.

North American IUL reviews highlight the flexibility and growth potential of these policies, making them a popular choice for those looking to balance risk and reward. Furthermore, Solid Quote emphasizes the value and reliability of health insurance review options provided by North American firms.

With a strong reputation and a variety of products, North American insurance services continues to be a trusted name in the industry, offering peace of mind and financial stability to its policyholders.

Does the North American Company for Life and Health Insurance offer competitive rates?

We know there are a number of factors you’re probably considering as you search for whole or term life insurance companies, and one of those factors is the price.

While it is difficult to estimate average rates for life insurance because there are so many variables, finding affordable North American Company for Life and Health Insurance is easy as it is known for lower-than-average rates.

We do have some example rates for healthy individuals at two different ages, but keep in mind these are examples only. Take a look at this table for more.

Average Monthly Rates for a 20-Year Term Life Policy for Men and Women at 20 and 50 Years Old

As might be expected, younger insureds pay lower rates, and male insureds typically pay more than females.

However, as we already noted, these are example rates, which can be used as a baseline, but your rates may vary significantly depending on your personal statistics, where you live, the type of policy you’re looking to purchase, and more.

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What is the North American Company for Life and Health Insurance availability by state? 

The North American Company for Life and Health Insurance quotes are available for policies in every state in the U.S. except for New York. You can also purchase coverage from the company in the Virgin Islands, Puerto Rico, and Guam.

What types of insurance coverages are offered by North American Company for Life and Health Insurance?

North American Company for Life & Health Insurance policies focus on term life insurance. Insureds can choose from product types including traditional term policies, universal life insurance policies, and indexed universal life insurance policies.

However, you won’t be able to purchase a whole life insurance policy from  North American Co for Life and Health because the company does not offer that policy type.

Read through the next couple of sections to find out more about North American’s life insurance policy options.

What term life features are included in a traditional term life policy?

When you purchase a traditional term life policy from North American Co for Life and Health insurance, the following features are typically included at no extra cost:

• Accelerated death benefit: Allows insureds to receive 75% of their policy’s face amount in advance (up to $750,000) in the event of a terminal illness that would likely result in death within 24 months.

• Conversion Option: Option to convert a policy to one of North American’s currently available permanent life products offered for conversion without a physical exam. This conversion to permanent coverage can be made throughout the level premium period (10, 15, 20, or 30 years) or through age 74 (69 for the 30-year term), whichever is earlier.

It’s important to note, with regard to the conversion option, the conversion period is never less than five years, regardless of issue age.

For example, if a policy is issued to an insured at age 73, they can convert through age 78, which offers great flexibility based on changing needs.

Next, we’ll look at optional term life features you can add to your policy.

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What optional term life features can be added to my North American Company for Life and Health Insurance policy? 

You have a couple of options for additional term life features. Take a look:

• Children’s Life Insurance Rider: Provides level term coverage for any unmarried child, stepchild, or legally adopted child if certain criteria are met (you can speak to an agent to find out if your child qualifies). One unit equals $5,000 of coverage; the minimum is one unit and the maximum is five units ($5,000 to $25,000). The cost per unit is $6 annually.

• Waiver of Term Premium for Disability Rider: Available with extra premium. This rider allows the premium payments to be waived, including rider premiums, if the insured is totally disabled.

You also need to be aware of a few legal considerations regarding North American company life insurance policies. Keep reading for more.

What legal considerations apply to North American term life insurance policies?

A two-year contestable and suicide provision applies. Specific policy types and forms include:

• ADDvantage plans are issued on policy form series LS174
• Accelerated Death Benefit Endorsement is issued on form series LR474
• Children’s Term Insurance Rider is issued on form series LR456
• Waiver of Term Premium for Disability Rider is issued on form series LR472; or state variations by North American Company for Life and Health Insurance, Administrative Office, Sioux Falls, SD 57193

Products, features, riders, endorsements, or issue ages may not be available in all jurisdictions. Limitations and restrictions may apply.

What life insurance products are offered by North American Company for Life and Health Insurance?

OPTerm policies are renewable and convertible term life insurance, which provides a level death benefit. We’ve summarized the main North American company products below. Take a look.

• ADDvantage 10: Term life insurance with level premiums during the initial 10-year period. Premiums increase annually in years 11 and later.
• ADDvantage 15: Term life insurance with level premiums during the initial 15-year period. Premiums increase annually in years 16 and later.
• ADDvantage 20: Term life insurance with level premiums during the initial 20-year period. Premiums increase annually in years 21 and later.
• ADDvantage 25: Term life insurance with level premiums during the initial 25-year period. Premiums increase annually in years 26 and later.
• ADDvantage 30: Term life insurance with level premiums during the initial 30-year period. Premiums increase annually in years 31 and later.

You can speak to an agent to help you narrow down which option is best for you and your specific needs.

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Does North American Company for Life and Health offer annuity options?

North American Company for Life and Health Insurance offers a few different annuity options. These include fixed index annuities, traditional fixed-rate annuities, and immediate annuities.

What’s the history of the company?

North American Co for Life and Health Insurance of Chicago, Illinois, a member company of Sammon Financial (which we’ll discuss further in a moment), is considered a leading provider of life insurance and annuities in the U.S.

The company has been one of the most trusted life insurance companies since 1886, serving the insurance needs of both families and businesses.

The company does this by focusing on:

Outstanding customer service, competitive insurance and retirement solutions, and a foundation of financial strength

It is interesting to note that North American Co for Life and Health Insurance is privately owned. The benefit of private ownership is that the company is not under pressure to meet short-term earnings for shareholders, which can benefit insureds.

As we noted earlier, North American Company for Life and Health Insurance is part of Sammons Financial Group, Inc. (SFG).

SFG has a parent company, Sammons Enterprises, Inc., which is a diversified holding corporation that owns and operates businesses across a wide range of industries and ranks among the largest privately-owned companies in the country.

The North American Company for Life and Health Insurance phone number and address can be found at the top of this page.

Using your North American Company for Life and Health Insurance login, you can access forms including a beneficiary change request.

What are North American life insurance reviews and ratings?

It’s understandable to be careful when you’re making a choice regarding your financial future. So, another factor to take into consideration is the financial and customer service ratings of companies you are looking at purchasing a life insurance policy. In the case of North American Company for Life and Health Insurance, you’re in luck.

According to A.M. Best, a financial ratings company focused on the life insurance industry, North American Life Insurance has a rating of A+, which indicates a strong financial position both currently and in the future.

Standard and Poor’s (S&P), a credit rating company, also gives North American Co for Life and Health Insurance an A+ rating.

And when it comes to customer service, we looked at the Better Business Bureau rating for North American Co for Life and Health Insurance and found that again the company has an A+ rating. They are also BBB-accredited.

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North American Life Insurance Review: The Bottom Line

North American Company for Life & Health Insurance offers affordable coverage on term life insurance policies to customers across the country. In fact, the only place you can’t buy North American Company for Life and Health Insurance is in the state of New York.

The company is rated A+ by A.M. Best, BBB, and other rating agencies, which means it has strong financial and customer service ratings. This is also a solid mark in the “pro” column for North American Company for Life & Health Insurance.

Now that you’ve read our review on affordable North American Life Insurance, use your ZIP code in our free tool to start comparing life insurance rates near you.