North American Life Insurance Review

North American Company for Life and Health Insurance (NACOLAH) is part of the Sammons Financial Company.

Since 1886, NACOLAH has been providing life insurance to protect families and businesses.

Financial Strength

  • AM Best – “A+”
  • S&P – “A+”
  • Fitch – “A+”

Ratings as of – AM Best – 08/2020, S&P – 05/2020, Fitch – 05/2020 – Subject to change

North American is a good life insurance company worth considering for your coverage needs.

How Easy is it to Get a Policy with North American?

It’s easy to get a policy with the WriteAway accelerated underwriting program.

With this program, it may be possible to get approved in 48-72 hours.

Criteria include:

  • Issue Ages – 18-60
  • Face Amounts:
    • 18-50 – Up to $1,000,000
    • 51-60 – Up to $500,000
  • Available for term and universal life
  • No major medical impairments
  • Rate classes available:
    • Super Preferred
    • Preferred Non-Tobacco
    • Standard Non-Tobacco
    • Preferred Tobacco
    • Standard Tobacco
  • No non-medical impairments
  • Flat extras only for aviation and avocations

The process is pretty simple with an e-application followed by a phone interview.

If you qualify, you will be notified that you are approved.

Otherwise underwriting will let you know that a paramed exam is required.

Are North American Policies Competitive?

A number of term life insurance and universal life policies are available.

Term life insurance from North American

The Classic Term and ADDvantage are the term life policies available.

  • Classic Term:
    • 10-year term – 18-75
    • 15-year term – 18-70
  • Minimum Face – $500,000
  • Riders – None available
  • Conversion – None available
  • ADDvantage
    • 10-year term – 18-75
    • 15-year term – 18-70
    • 20-year term – 18-65
    • 30-year term – 18-55 (50 for smokers)
  • Minimum Face – $100,000
  • Riders:
    • Children’s Term Life Insurance Rider
    • Waiver of Term Premium for Disability Rider
    • Accelerated death benefit for critical, chronic, and terminal illness
  • Conversion – Allowed during the level premium period of policy or up to age 75(age 70 fo 30-year term) whichever is earlier. Conversion is never less than 5 years.

We recommend the ADDvantage product over the Classic Term due to the Classic not having conversion or riders.

Other companies like Transamerica offer similar pricing with riders and conversion.

Universal Life Insurance from North American

A number of universal life insurance policies are available, and NACOLAH is known for its competitive IUL products.

When looking at index universal life policies, compare to policies offered by Lincoln National and Prudential.

  • Custom Guarantee:
    • Minimum face:
      • Up to 59 = $50,000
      • 60-85 = $25,000
    • Guaranteed death benefit up to age 120
    • Premium Recovery Endorsement1
    • Guaranteed Exchange Privilege2
    • Accelerated death benefit for critical, chronic, terminal
  • Protection Builder:
    • Minimum face:
      • Up to 59 = $50,000
      • 60-85 = $25,000
    • Strong potential for cash value accumulation
    • Optional no lapse guarantee up to age 120
    • Premium Recovery Endorsement1
    • Indexed interest
    • Policy loans with overloan protection
    • Accelerated death benefit for critical, chronic, terminal
  • Builder Plus IUL 2
    • Ages – 15 days – age 75
    • Minimum face = $50,000
    • Long term cash value accumulation
    • Return of premium death benefit option
    • Accelerated death benefit for critical, chronic, terminal
    • Policy loans
    • Indexed interest
  • Smart Builder
    • Ages – 15 days – age 80
    • Minimum face – $100,000
    • Used to leverage premium into larger death benefit
    • Waiver of Surrender Charge Option Rider
    • Strong early cash value performance
    • Accelerated death benefit for critical, chronic, terminal
    • 10% of account value is available for withdrawal starting in year 2.
  1. Premium Recovery Endorsement – provides the opportunity to recover part or all of the total premiums paid within a 60-day window after the 15th, 20th, and 25th anniversary upon full surrender of the policy
  2. Guaranteed Exchange Privilege – allows exchange to IUL products without evidence of insurability and NO surrender charge

Please note that the availability of riders may vary by state, age, underwriting and other factors.

We will provide you with full company illustrations and let you know exactly what is available to you.

Does North American Provide Good Customer Service?

The customer service phone number is 877-872-0757

You will find online access to your policy information – here

North American’s headquarters is located at:

One Sammons Plaza – Sioux Falls, South Dakota 57193


North American is a good quality life insurance company to consider for your life insurance needs.

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