North American Company Sales Support found on your back office contact us under “product support”

The following is not complete without an attached commission schedule.
COMMISSION SCHEDULE ADDENDUM – Effective 04-10-2020
Note: Commissions will be held until 30-days after delivery receipt is received by the provider.

North American Company for Life and Health Insurance® IMPORTANT INFORMATION REGARDING COMMISSION PAYMENT. PLEASE READ CAREFULLY.

Unless otherwise identified, commissions will only be applied to collected premiums. Renewal commissions will be paid on net premiums (premiums less withdrawals) and will only be paid upon receipt of additional premium. Commissions will be paid when a minimum of $50.00 for EFT is accumulated. Agents must be actively contracted with North American Annuity Service Center in order to receive re-entry commission. Trail commissions are paid out based on the full Accumulation Value annually starting on the first contract anniversary. Trail commissions will continue to be paid for the life of the contract. Commissions are not paid on new premium added to a spousal continuance case. Product availability varies by state and issue ages may vary by product and state, contact Sales Support from the contact us button on your AAG back office.  Please select “Product Support” for complete details.

CHARGEBACKS – INITIAL TERM

For deaths, full surrenders, partial withdrawals and/or Required Minimum Distributions (RMDs) occurring within the first contract anniversary year, the following chargeback percentages apply: 1) All products except the North American Income® products: 100% chargeback from the date of issue through the end of the 6th month after the contract issue date and 50% chargeback from the start of the 7th month after the contract issue date through the first contract anniversary date; and

2) North American Pillar product: 100% chargeback during the first contract year and

50% chargeback during the second contract year. For the NAC RetireChoice when the Additional Benefit Rider is elected in the state of California: 100% chargeback during the first contract year and 50% charge back in the second contract year.

For cancellations by North American, there is a 100% commission chargeback throughout the entire surrender charge period of the contract. In addition and not limited by the forgoing, North American reserves the right to chargeback commissions at any time, in its sole discretion, pursuant to paragraphs 7 and 9 of the agent contract, which are expressly incorporated herein.

CHARGEBACKS – RENEWALS

For full surrenders or partial withdrawals after renewal of a Multi-Year Guaranteed Annuity (only those plans with a guarantee period of 5 years or longer) re-entry commissions will chargeback at 100% from the date of re-entry through the end of the first 6 months, and chargeback at 50% from the start of the seventh month after the re-entry date through the first contract anniversary date after re-entry. There is no re-entry commission chargeback in the event of death or RMD.

COMMISSION REDUCTIONS

Applicable state reductions will be applied before issue age reductions. NOTE: If a client exceeds the maximum issue age while the policy is pending a commission reduction may be applied at issue.  All commission percentages are reduced by 7% for any sale to a resident of the state of California.

INTERNAL REPLACEMENTS

No commission will be paid on full or partial internal replacements within the surrender charge period.

SINGLE PREMIUM
IMMEDIATE ANNUITIES

  • No commission reductions other than 7%
    reduction on all CA residents

*Issue ages may vary by state.

TRADITIONAL FIXED
ANNUITIES

  • Commission for issue ages 76-79 reduced by 25%
  • Commission for issue ages 80-85 reduced by 50%
  • 7% commission percentage reduction on all CA residents

MULTI-YEAR GUARANTEED
ANNUITIES

NORTH AMERICAN GUARANTEE CHOICESM

  • Commission reduced by 25% for issue ages 81-85 and 50% for issue ages 86-90
  • IN commission for issue ages 76-80 reduced by 25% and 50% for issue ages 81-85
  • CT, FL, IL and TX first-year commission percentage reduced by 0.25; re-entry percentage commission reduced by 0.125
  • Upon re-entry, if no surrender charge applies, no re-entry commission will be paid.
  • 7% commission percentage reduction on all CA residents

NORTH AMERICAN GUARANTEE CHOICESM II

  • Commission reduced by 25% for issue ages 81-85 and 50% for issue ages 86-90

MULTI-YEAR GUARANTEED
ANNUITIES

NORTH AMERICAN GUARANTEE CHOICESM

  • Commission reduced by 25% for issue ages 81-85 and 50% for issue ages 86-90
  • IN commission for issue ages 76-80 reduced by 25% and 50% for issue ages 81-85
  • CT, FL, IL and TX first-year commission percentage reduced by 0.25; re-entry percentage commission reduced by 0.125
  • Upon re-entry, if no surrender charge applies, no re-entry commission will be paid.
  • 7% commission percentage reduction on all CA residents

NORTH AMERICAN GUARANTEE CHOICESM II

  • Commission reduced by 25% for issue ages 81-85 and 50% for issue ages 86-90
  • 7% commission percentage reduction on all CA residents

Effective for business written on or after 04-10-2020

Contact AAG Sales Support from you backoffice system for state availability of annuity products.

All percentages are reduced by 7% for any sale to a resident of the state of California.

Option A

Product First Year* Years 2+
NAC VersaChoice (10-Year) 4.26%
NAC BenefitSolutions  (10 and 14-Year) 4.26%
Performance Choice (8-Year) 3.01%
Strategic Design Annuity X (10-Year) 4.26%
NAC IncomeChoice (10-Year) 4.26%
 NAC Charter Plus (10 and 14-Year) 4.26%
Product First Year* Years 2+
NAC Income (Period Certain 7-9 years) 0.35%  —
NAC Income (All other options) 1.42%  —
NAC Guarantee Choice (3-Year option) 0.71% Re-Entry 0%
NAC Guarantee Choice (5-Year option) 1.06%
NAC Guarantee Choice (7-Year option) 1.42%
NAC Guarantee Choice (10-Year option) 1.77%
403(b)’s ARE available.  Please check with your AAG Sales Support team for product information at 714-203-6959 ext. 4
All information found on this page may be changed at any time at the sole discretion of Alliance Agency Group without prior notice.

Agent must be set up under Option A in order to receive the levelized commissions listed above

All annuity commissions will be held for a period of 30 days following the provider receiving all requirements pertaining to the policy.  Commissions will be paid on the cycle following the expiration of the 30 day hold period.  This includes but is not limited to the delivery requirements.

AAG reserves the right to update any commissions or payment rules at it’s sole discretion and without notice.