North American Company for Life and Health Insurance — part of Sammons Financial Group alongside Midland National — is one of the most consistently competitive MYGA providers in the United States. Their North American Guarantee Choice MYGA frequently appears at or near the top of national rate tables across 3, 5, and 7-year terms.
With an AM Best A+ (Superior) rating and 138 years of continuous operation, North American combines the rate competitiveness buyers want with the financial strength safety demands.
Key Takeaways
- AM Best A+ (Superior) — excellent financial strength
- North American Guarantee Choice MYGA is one of the most competitive products in the market
- 138+ years in business under Sammons Financial’s private ownership
- Competitive FIA lineup including Builder Plus and Rapid Builder products
- Available nationwide through independent brokers
North American Annuity Products
Guarantee Choice MYGA — North American’s flagship MYGA. Available in 2, 3, 5, 7, and 10-year terms. Consistently among the top rates in each term category. 10% free withdrawal annually. No annual fees. Minimum premium $10,000.
Best for: Rate-focused buyers who want top-of-market MYGA returns from an A+ carrier.
Builder Plus IUL / FIA — Fixed indexed annuity with multiple index options including S&P 500, Goldman Sachs Momentum Builder, and others. Optional income rider. 10-year surrender period.
Best for: Long-horizon accumulation with future income planning.
Rapid Builder IUL — Shorter-surrender FIA (7-year) with competitive caps. Useful for buyers who want index-linked growth but don’t want to commit to a 10-year surrender period.
Financial Strength Ratings
| Agency | Rating |
|---|---|
| AM Best | A+ (Superior) |
| S&P Global | AA- (Very Strong) |
Pros and Cons
| Pros | Cons |
|---|---|
| Top MYGA rates from an A+ carrier — rare combination | Products sold through agents only, not direct |
| 138+ years in business — outstanding track record | Some surrender periods up to 10 years |
| Privately held — long-term stability focus | Less name recognition than large national brands |
| Broad independent broker distribution | FIA complexity requires careful review |
Frequently Asked Questions
Does North American offer the best MYGA rates?
North American’s Guarantee Choice MYGA frequently ranks in the top 3 nationally for MYGA rates across multiple terms. Among A+ rated carriers specifically, they are consistently one of the most competitive options. See the live rate tables at best 5-year annuity rates.
Is North American the same as Sammons?
North American Company is a subsidiary of Sammons Financial Group. Sammons also owns Midland National Life. Both carriers operate independently with their own products and agent networks, but share the same parent company and corporate ownership structure.
