North American and AMS Financial Services Group Announce Max Elite Annuities

Business Wire

New suite of annuity products bring simplicity, growth potential to today’s annuity market

WEST DES MOINES, Iowa--(BUSINESS WIRE)--
North American Company for Life and Health Insurance^®(North American), an A+ rated carrier³ and member company of Sammons^® Financial Group and one of the largest issuers of fixed index annuities (FIAs) in the U.S.¹, is partnering with AMS Financial Services Group, a long serving financial solutions provider. Today the two companies announce the addition of a new annuity product series appropriately named Max Elite. This product is wholesaled by AMS and sold through bank and broker dealer channels.

“AMS Financial Solutions Group is thrilled to have collaborated with North American in developing a new innovative annuity product, specifically tailored for bank and broker-dealer financial advisors,” said Michael Maranto, CEO and President of AMS Financial Solutions Group. “Leveraging the financial strength and in-house processing of North American, this cutting-edge product is designed to provide financial advisors with a unique solution that combines protection and growth potential for their clients. With a focused approach on simplicity and transparency, we are excited to deliver a secure foundation paired with opportunities for upside returns.”

The Max Elite Accumulation^SM FIA series offers five-, seven-, and ten-year surrender charge options and is designed to provide simplicity in the hot FIA marketplace. It also features a first-to-market crediting method through the Annual Point-to-Point with Index Cap and Declared Rate. The Max Elite Guarantee MYGA series includes three-, five-, and seven-year surrender charge options.

Max Elite Accumulation^SMalso offers guaranteed growth and a return of premium feature through an optional Enhanced Benefit Rider (EBR)². Key features of Max Elite Accumulation include:

Growth potential: The account premium can increase based on positive performance of multiple index strategies from financial industry leader S&P®.
Tax deferral: Clients don’t pay income tax on interest crediting until funds are accessed.
100% risk-free, premium protection⁴: There is no threat to losing your premium due to market downturns.

Additionally, the optional EBR includes:

Guaranteed growth: Annuity owners can receive guaranteed growth with the minimum interest credit (MIC) feature².
Return of premium feature²: Offers liquidity in event of unforeseen circumstances.

Max Elite Accumulation^SM has a first-to-market crediting method through the Annual Point-to-Point with Index Cap and Declared Rate. With this index crediting method, the interest credited will never be less than the declared rate and can help clients to keep pace with inflation. The ability to eliminate the concern of zero returns is an advantage of this crediting method. This innovative approach can enhance the client experience by providing growth potential (even in volatile markets) and premium protection.

“Right now, the U.S. annuities marketplace has broad client attraction as consumers see the value of guaranteed income,” said Rob TeKolste, president of Sammons Independent Annuity Group. “We intend to lead the market by delivering a product that may help clients grow their nest egg. Likewise, we are excited to work with AMS to bring this new annuity product to market.”

“At AMS Financial Solutions Group, we are dedicated to delivering high-quality financial solutions that empower financial advisors to guide their clients through the complexities of the financial landscape with confidence and success. We are enthusiastic about the potential of this new annuity product to provide substantial value to bank and broker-dealer financial advisors in effectively serving their clients' financial objectives," added Maranto.

About North American Company for Life and Health Insurance

North American Company for Life and Health Insurance^®is a member of Sammons^® Financial Group, Inc. They offer a comprehensive portfolio of term, universal life, and indexed universal life insurance products, as well as a wide variety of traditional fixed and fixed index annuities. North American is a stable, A+ rated², and employee-owned company. Learn more about North American.

About AMS Financial

AMS Financial Solutions Group is a custom distribution and service company headquartered in Baton Rouge, LA. Founded in 1991, AMS serves financial professionals in the Bank, Regional, and Independent channels nationwide. Product offerings include an array of annuity and life insurance solutions.

¹ Wink’s Sales & Market Report and LIMRA/Secure Retirement Institute.

²Optional enhanced benefits rider (EBR) must be elected at contract issue to gain access to minimum interest credit and return of premium features. EBR is available on 5- and 7-year surrender charge options and can only be elected at contract issue. Rider charge is 0.40% of accumulation value at each contract anniversary during the surrender charge period. This rider charge is considered a penalty-free withdrawal, and does not reduce the penalty-free withdrawal available to you. The rider charge, under certain scenarios, may result in loss of premium.

³ A.M. Best Company rating—effective August 13, 2024 A+ (Superior) is the 2nd of 15 categories.

⁴ It is important to consider that charges are deducted from the accumulation value which means charges are still taken in years when the Annuity Contract does not earn any interest or index credits. While fixed index annuities guarantee no loss of premium due to market downturns, deductions from your accumulation value for EBR charges may in certain scenarios over time exceed interest and index credits to your accumulation value, which in turn would result in loss of premium.

AMS Financial Services is independently contracted with North American Company for Life and Health Insurance.

Fixed index annuities are not a direct investment in the stock market. They are long term insurance products with guarantees backed by the issuing company. They provide the potential for interest to be credited based in part on the performance of specific indices, without the risk of loss of premium due to market downturns or fluctuation. Although fixed index annuities guarantee no loss of premium due to market downturns, deductions from the accumulation value for optional benefit riders or strategy fees or charges associated with allocations to enhanced crediting methods could exceed interest credited to the accumulation value, which would result in loss of premium. They may not be appropriate for all clients. Interest credits to a fixed index annuity will not mirror the actual performance of the relevant index.

Annuities are not deposits of, or guaranteed by, any bank and are not insured by the FDIC or any other agency of the U.S. All guarantees are subject to the financial strength of North American.

NOT FDIC/NCUA INSURED, NO BANK/CU GUARANTEE, NOT A DEPOSIT, MAY LOSE VALUE, NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY.

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