Rapid Builder IUL®
Rapid Builder IUL is an indexed universal life insurance product designed to help provide death benefit protection along with building cash value in the early policy years, so you can have access to your policy funds… fast!
Product Highlights:
- The ability to earn interest based on the movement of a stock market index without the risk of investing directly in the market.
- The interest rate credited is never less than zero percent—guaranteed!
- Features that help your cash value grow as quickly as possible.
- Access to your cash value through withdrawals and policy loans2, including Net Zero-Cost Loans in policy years 6 and later.1
- Access to a portion of the Death Benefit to help cover the cost of a chronic or terminal illness
Put your cash value accumulation in overdrive with Rapid Builder IUL. To learn more about Rapid Builder IUL, download the brochure, or contact your North American representative today!
1Zero Cost Loans are available on our universal life products after a specified number of years. Please refer to your policy for details. For this policy, Zero Cost Loans are charged and credited at 3.0% for a net zero cost in years 6+.
2Policy loans from life insurance policies generally are not subject to income tax, provided the contract is not a Modified Endowment Contract, as defined by Section 7702A of the Internal Revenue Code. A policy loan or withdrawal from a life insurance policy that is a Modified Endowment Contract is taxable upon receipt to the extent cash value of the contract exceeds premium paid. Policy loans and withdrawals will reduce cash value and death benefit. Policy loans are subject to interest charges. Consult with and rely on your tax advisor or attorney on your specific situation.
Indexed Universal Life products are not an investment in the "market" or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.
Rapid BuilderIUL is issued on policy form series LS169; Chronic Illness Accelerated Benefit Rider is issued on form series LR450A; Accelerated Benefit Endorsement is issued on form series LR352A by North American Company for Life and Health Insurance, Administrative Office, Sioux Falls, SD 57193.
Life insurance policies have terms under which the policy may be continued in force or discontinued. Current cost of insurance rates and interest rates are not guaranteed. Therefore, the planned periodic premium may not be sufficient to carry the contract to maturity. The Index Accounts are subject to caps and participation rates. In no case will the interest credited be less than zero percent. Please refer to the customized illustration provided by your agent for additional detail. The policy's death benefit is paid upon the death of the insured. The policy does not continue to accumulate cash value and excess interest after the insured's death. For costs and complete details, call or write North American Company, Administrative Office, Sioux Falls, SD 57193. Telephone (877) 872-0757.