At Diversified Insurance Brokers, we help retirees and pre-retirees evaluate insurers for safety, income potential, and long-term reliability. If you’re asking, “Is North American a Good Insurance Company?” the answer for many retirement savers is yes—North American is well-regarded for its strong financial strength, competitive fixed indexed annuities, and disciplined risk management. In this review, we’ll cover what matters most: ratings, product lineup, pros and cons, and who North American may be a good fit for.

North American Company for Life and Health Insurance has been helping retirees and families protect their savings and create reliable income for over 130 years. As a U.S.-regulated life insurer with a history of conservative management, North American is recognized for its financial stability and commitment to policyholder security. Their portfolio includes popular fixed indexed annuities (FIAs), multi-year guaranteed annuities (MYGAs), and lifetime income solutions—making them a strong contender for individuals seeking growth potential with principal protection. Below, we’ll explain why many pre-retirees and retirees consider North American a dependable choice, how its products work, and when they may be the right fit.

See Your Guaranteed Income:

Use the tool below to view guaranteed lifetime income results based on your age, premium, and start date. These numbers reflect the contract’s guarantees (subject to product and state availability).

Company Snapshot & Financial Profile

• Longstanding history: 130+ years serving policyholders with a focus on retirement security.
• Financial strength: North American’s operating entities have historically maintained strong, investment-grade financial ratings that support long-term guarantees. (Always verify the current letter grade for the exact issuing company and state.)
• Conservative risk management: Statutory reserves, regulator oversight, and disciplined asset/liability matching designed to honor future income promises.

Where North American Stands Out

• Fixed Indexed Annuities (FIAs): Principal protection with multiple index/crediting strategies (caps, participation, spreads) for measured upside without market-loss risk.
• Lifetime Income Riders: Optional guaranteed lifetime withdrawal benefits (GLWBs) for one or two lives—convert savings into predictable paychecks you cannot outlive.
• MYGAs: CD-style, multi-year guaranteed interest with tax-deferred growth and simple terms.

Popular Product Families (Examples)

• Performance/Builder Series (FIA): Diverse index menus and crediting designs to align growth potential with risk tolerance.
• Income-Focused FIA + GLWB: For retirees prioritizing guaranteed income now or later, with flexible start dates and joint-life options.
• Guarantee Choice (MYGA): 3–10 year guaranteed rates (varies by state/product) for savers who want simplicity and principal protection.

Pros and Cons to Consider

Who Is a Good Fit?

• Pre-retirees and retirees seeking guaranteed income to cover essential expenses.
• Conservative savers who want principal protection with measured, index-linked upside.
• CD/treasury investors comparing MYGAs for multi-year guaranteed rates and tax deferral.

Planning Example

A 66-year-old couple earmarks a portion of IRA assets to a North American FIA with a joint-life income rider. They defer income for three years, then activate guaranteed lifetime withdrawals timed with Social Security. The remaining portfolio stays liquid for healthcare and discretionary spending. Outcome: a durable income floor, tax-deferred growth pre-income, and principal protection throughout the accumulation/deferment period.