North American Company for Life & Health Insurance

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Tim is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. He writes and creates stuff for QuickQuote and other insurance and financial websites...

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UPDATED: Aug 6, 2020

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North American Company for Life and Health Insurance

Company Description

As one of the leading providers of life insurance and annuities in the United States, North American has continuously fulfilled commitments to our customers since 1886. Families and businesses alike have counted on us to be there for them during their most challenging times, and to help prepare them for the good times ahead. We have been doing this for nearly 130 years through outstanding customer service, competitive insurance and retirement solutions, and a foundation of financial strength. This unwavering commitment helps our customers focus on the things that matter most to them.

Independent Ownership Keeps the Focus on Customers

North American offers something that is unusual in the insurance industry: we are privately owned. This means we are not subject to short-term earnings pressures often faced by publicly traded companies.  This kind of ownership creates an atmosphere where personal, efficient service is our priority.

We are part of Sammons Financial Group, Inc. (SFG), whose member companies offer a diverse portfolio of products, including life insurance, annuities, and retirement solutions. SFG’s parent company, Sammons Enterprises, Inc., is a diversified holding corporation that owns and operates businesses across a diverse range of industries and ranks among the largest privately-owned companies in the United States.

Company Contacts

One Sammons Plaza
Sioux Falls, SD 57193


North American Website

Company Info

Year Founded:  1886

AM Best Rating:  A+ (as of 2016)

S&P Rating:  A+ (as of 2016)

Company Spotlight:  North American Company

Company Goods


Policy Info

Included Term Life Features

  • accelerated death benefit:  Included at no extra cost. Life can offer harsh realities, so we offer this “living benefit,” which allows you to receive 75% of your policy’s face amount in advance, up to $750,000, in the event of a terminal illness that would likely result in death within 24 months.
  • Conversion Option:  Included at no extra cost. With ADDvantage Term, you may convert your policy to one of North American’s currently available permanent life products offered for conversion without a physical exam. Should your needs change, you may generally convert your term insurance to permanent coverage throughout the level premium period (10, 15, 20, or 30 years) or through age 74 (69 for the 30-year term), whichever is earlier. However, the conversion period is never less than five years, regardless of issue age! For example, if a policy is issued to you at age 73, you can convert through age 78, giving you great flexibility if your needs change.

Optional Term Life Features

  • Children’s Life Insurance Rider: The Children’s Term Insurance Rider provides level term coverage for any unmarried child, stepchild or legally adopted child within issue ages 15 days and 20 years on the Rider’s effective date, living with and financially dependent on the Insured and satisfactory evidence of insurability for the child is provided to the company. One unit equals $5,000 of coverage. Minimum is one unit, maximum is 5 units ($5,000 to $25,000). Cost per unit is $6.00 annually.
  • Waiver of Term Premium for Disability Rider: Available with extra premium. This rider allows the premium payments to be waived, including rider premiums, if the insured is totally disabled.

Legal Info

A two-year contestable and suicide provision applies.

ADDvantage plans are issued on policy form series LS174, Accelerated Death Benefit Endorsement is issued on form series LR474, Children’s Term Insurance Rider is issued on form series LR456, Waiver of Term Premium for Disability Rider is issued on form series LR472; or state variations by North American Company for Life and Health Insurance, Administrative Office, Sioux Falls, SD 57193. Product, features, riders, endorsements or issue ages may not be available in all jurisdictions. Limitations and restrictions may apply.

Company Products

OPTerm policies are renewable and convertible term life insurance which provides a level death benefit.

ADDvantage 10: Term life insurance with level premiums during the initial 10-year period. Premiums increase annually in years 11 and later.

ADDvantage 15: Term life insurance with level premiums during the initial 15-year period. Premiums increase annually in years 16 and later.

ADDvantage 20: Term life insurance with level premiums during the initial 20-year period. Premiums increase annually in years 21 and later.

ADDvantage 25: Term life insurance with level premiums during the initial 25-year period. Premiums increase annually in years 26 and later.

ADDvantage 30: Term life insurance with level premiums during the initial 30-year period. Premiums increase annually in years 31 and later.

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