Last updated: March 2026 | Reviewed by: AnnuityJournal Editorial Team
North American Company has been paying claims since 1886. That’s not a marketing line — it’s a meaningful data point when you’re signing a 10-year contract with lifetime income guarantees attached. As a Sammons Financial subsidiary, they don’t have quarterly earnings pressure from Wall Street, which is one reason their products tend to be priced for the long term rather than for agent recruitment. The BenefitSolutions 10’s 7% simple roll-up is honest work: no gimmick bonus, just a reliable income base that grows predictably and a carrier that will almost certainly be around to pay it.
What Is the North American BenefitSolutions 10?
The BenefitSolutions 10 is a fixed index annuity with a 10-year surrender period issued by North American Company for Life and Health Insurance, a Sammons Financial company. It’s designed as a balanced accumulation-and-income product, combining competitive index crediting with a strong guaranteed income rider.
Current Cap Rates and Crediting Strategies (2026)
| Index Strategy | Cap / Participation Rate | Crediting Method |
|---|---|---|
| S&P 500 Annual Point-to-Point | ~8.50–10.00% cap | Annual, with cap |
| S&P 500 2-Year Point-to-Point | ~16.00–18.00% cap | 2-year, with cap |
| BofA Destinations Index | ~1.50–2.00% spread | Annual, with spread |
| Bloomberg US Dynamic Balance II | ~120–140% participation | Annual, uncapped |
| Fixed Account | ~2.75–3.00% | Daily crediting |
Rates approximate as of early 2026. North American can adjust rates at each anniversary subject to contractual minimums.
Income Rider: IncomeChoice Benefit
The BenefitSolutions 10 includes the IncomeChoice Benefit rider, which is where this product really shines:
- Income Base Roll-Up Rate: 7% simple interest annually for up to 10 years of deferral
- Rider Fee: Typically ~0.95% of income base annually
- Payout Rates: Age-based at activation (see table below)
- Lifetime Guarantee: Income for life regardless of account value
- Joint Option: Available for slightly lower payout rate
Illustrative income on $200,000 deposit, 10-year deferral:
| Age at Income Start | Income Base After 10 Years (7% simple) | Approx. Annual Income |
|---|---|---|
| 65 | ~$340,000 | ~$15,300–$17,000/year |
| 70 | ~$340,000 | ~$17,700–$19,400/year |
| 75 | ~$340,000 | ~$20,400–$22,100/year |
Income base = $200,000 × (1 + 0.07 × 10) = $340,000. Actual payout depends on contract terms and current payout rate schedule.
North American Financial Strength
- AM Best: A+ (Superior) — same top tier as Allianz and Nationwide
- S&P: A+ (Strong)
- Parent Company: Sammons Financial Group (privately held)
- Founded: 1886 — over 135 years in business
- Total Assets: Over $50 billion
North American’s A+ AM Best rating is the same top-tier designation as Allianz and Nationwide. For buyers who want the best possible combination of carrier strength and income guarantee, this product deserves serious consideration. See our North American carrier review.
BenefitSolutions 10 Pros and Cons
Pros
- A+ AM Best carrier: Top-tier financial strength matching Allianz and Nationwide
- Strong 7% income roll-up rate: $200K grows to $340K income base over 10 years
- Competitive S&P 500 caps: Often in the top quartile of the FIA market
- 135+ year track record: North American has been paying claims since 1886
- Clean product design: No complicated bonus structures to decode
- 2-year crediting option: Higher caps for buyers willing to evaluate every 2 years
Cons
- 10-year surrender period: Full decade commitment required
- Less brand recognition: North American isn’t as widely advertised as Nationwide or Allianz — advisors may push better-known products
- Smaller asset base: $50B+ is substantial but smaller than some competitors at $100B+
- Income rider fee reduces account growth: Standard across the industry but worth factoring in
Who Is the BenefitSolutions 10 Best For?
- Ages 55–65 looking for the combination of A+ carrier strength AND a solid income roll-up
- Buyers who feel underserved by the complexity of the Allianz 222’s bonus structure and want a simpler income guarantee
- Those who value carrier longevity and stability above all — North American’s 135-year history is hard to beat
- Buyers who want competitive cap rates alongside their income guarantee, not just an income-focused product
Compare the BenefitSolutions 10 against the Nationwide New Heights 9 (also A+ rated) and the F&G RetireShield before deciding.
How to Buy the North American BenefitSolutions 10
North American products are sold through independent insurance agents and financial advisors, not directly from the company. Ask any agent who mentions this product to provide a side-by-side income illustration comparing it to at least two other A+ rated FIAs.
Key illustration items to verify:
- Current S&P 500 annual cap and contractual cap minimum
- Income roll-up rate — confirm it is 7% simple and how long it applies
- Payout rate at your projected income start age
- Joint life vs. single life income difference
- Full surrender charge schedule years 1–10
Frequently Asked Questions
Is North American Company the same as North American Company for Life and Health?
Yes — they are the same entity. “North American Company for Life and Health Insurance” is the full legal name. It is a subsidiary of Sammons Financial Group, not affiliated with Nationwide or any other similarly named companies.
What is the free withdrawal provision?
The BenefitSolutions 10 typically allows 10% of the account value per year in free withdrawals without surrender charges. Amounts above 10% are subject to the surrender charge schedule for the 10-year period.
Does North American offer a waiver for nursing home care?
Most North American FIAs include a confinement waiver that allows penalty-free withdrawals if you are confined to a nursing home or similar care facility for a specified period (typically 90 days). Confirm this feature is included in the specific contract version you are reviewing.
How does the 7% roll-up compare to competitors?
A 7% simple interest roll-up is in line with the upper-mid tier of the FIA market. The Allianz 222 uses a similar structure. Some carriers offer 6% while a few offer 8% or compound interest roll-ups — always compare on total projected income dollars, not just the roll-up percentage headline.
Is this annuity available in all states?
North American products are available in most U.S. states, but product features, cap rates, and availability can vary by state due to regulatory requirements. Your agent should confirm availability and terms in your specific state before beginning the application process. See our complete FIA guide for more.
