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North American Company Insurance Review & Complaints: Life & Retirement Insurance

North American Company for Life and Health Insurance writes both term life and permanent life insurance, as well as annuities to provide retirement income. Our sample North American Company quotes for a 30-year-old male non-smoker returned North American Company insurance rates of $39.16/mo for a $1,000,0000 policy on a 2-year term.

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Eric Stauffer is a former insurance agent and banker turned consumer advocate. His priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best...

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UPDATED: Sep 21, 2020

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North American Company
Financial Strength

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North American Company focuses entirely on life and retirement products, keeping their expertise and experience steady and concentrated. With over 125 years of experience, The company has strong roots and continues to grow.

North American Company Summary

In 1886, the North American Accident Association was founded, and their first agent was appointed in 1890 after the company came under new ownership. In 1918, they became the first company to offer disability insurance to women, and from there they continued to grow and expand across the nation.

North American is a part of Sammons Financial Group, a Texas based company whose parent company, Sammons Enterprises, is among the largest private companies in the United States. This gives them a sold financial backing.

North American writes a variety of life insurance and annuity products through a network of agents across the country. The company maintains headquarters in Chicago – the main address for life insurance, and in Des Moines, IA – the main address for annuities. They also have offices in Sioux Falls, SD.

Online quoting is available for some products, although they can only be purchased through an agent.

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Insurance Products

North American writes both term life and permanent life insurance, as well as annuities to provide retirement income. Although they have written other types of insurance, such as disability, in the past, they now focus entirely on these two areas and have a good selection of different product options.

Life Insurance

ADDvantage Term Life is the company’s term product, offering a choice of 10, 15, 20, or 30 years. Premiums are guaranteed, as is the death benefit. This policy can be converted to a permanent policy and has a number of available riders and endorsements.

North American also writes permanent life insurance in the form of Universal Life, which offers a lifelong guaranteed death benefit as well as cash accumulation account that can grow over time. North American offers the Custom Guarantee policy that offers a guaranteed death benefit up to the age of 120, flexibility to adjust your premium, and access to the benefit should an unexpected illness arise.

Finally, North American also writes Indexed Universal Life, which ties the growth of the cash accumulation account to an indexed account. There are four choices in the product line-up, including a survivorship option that covers two people under one policy. The choices are:

  • Builder IUL
  • Guarantee Builder IUL
  • Rapid Builder IUL
  • Survivorship IUL

Each of these policies has a different risk level and growth potential, and also provide death benefits.


North American Insurance offers annuities that can provide retirement income on a tax-deferred basis. They offer several annuity types:

  • Fixed Traditional Annuities
  • Fixed Deferred Annuities
  • Immediate Annuities

North American Company Rates

A 30-year-old male non-smoker, in good health, can get a $1,000,0000 policy on a 2-year term for $39.16 a month. That’s about 20% below average and a very good rate for this policy.

A basic $100,000 10-year term policy can be purchased for the same insured for only $8.80 a month, which is very affordable.

The quoting system on the website is very simple and doesn’t ask for much in the way of information, which leads to some question regarding the accuracy of the quote. Even with some adjustment for a more detailed quote, however, North American provides some very good prices.

Universal Life quotes are not available online, and can only be obtained through an agent. The website will direct customers to an agent in their area to get a quote as well as to complete the policy application.


Claims for life insurance policies can be filed by phone, by fax, by email, or by regular mail. The toll-free claims line for North American is 1-800-733-2524. Annuity claims can be filed by calling 877-880-6367, or via fax or email.

All claims information can be located on the North American website’s Contact page.

Beyond that, we were unable to find any further information on claims, including the process for submitting them and how they are handled. There is a policyholder login that may provide access to further information, but nothing is offered on the site in general.

This is not entirely unusual for a life insurance company, as claims are of a sensitive nature and handled differently from auto or home claims.

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Consumer Research and Complaints

North American Company has a Better Business Bureau rating of A+, although they are not accredited. There are a total of seven complaints against the company in the past three years, four of which were closed in the last 12 months.

Life insurance companies frequently have a low complaint volume, but this is very low. It shows an improvement over past ratings and past failure to respond to complaints, which could indicate that the company has been making an effort to improve their customer service.

There are very few reviews of the company outside of the BBB. Life insurance companies often have few reviews, but for a company as large as North American it’s surprising to find so little. This is generally a good sign, as happy customers don’t often write reviews.

Financial Strength

Rating Company Grade Financial Outlook
AM Best A+ Stable
Fitch A+ Stable
S&P A+ Stable

Bottom Line

North American Company offers several options for term and permanent life insurance, and does so at very competitive rates. They are a long-standing company with a very strong financial backing, and their reputation is solid, which inspires confidence.

Since the reviews are limited, we are unable to gain a real picture of the customer experience with this company, but overall there’s nothing to raise major concern. North American Company is worth a look for anything in the market for affordable, quality life insurance products.

For a list of companies that we recommend, visit our Best Insurance Companies page.

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Review Information

Review Date
North American Company Insurance
Author Rating

About Eric Stauffer

Author: Eric StaufferI am a former insurance agent and banker turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.


  1. I haven’t tested the customer service yet but am glad that so many people have great things to say about it!

  2. I am a Financial Advisor and Insurance Agent of nearly 20 years.

    I have written numerous policies with North American over the years, yet it has been several years since I wrote my last policy with this company.

    As a result – North American has canceled my active status as an Agent and now is restricting my access to their website’s agent portal.

    This, in turn, compromises my ability to provide continued service to my clients who purchased a policy through me with N.A.

    I’m in total disbelief of such a ‘pay to play’ tactic – it appears that North American Life Company values increased agent $ales more than quality customer service.

    I won’t go so far as to question the legality of their actions, but I do certainly question their ethics.

    If they can’t properly support those who solicit their products, I presume they must hold their policyholders in even less regard.

    If you are need of life insurance, it may be prudent to choose another company.

  3. I have an annuity with North American.

    I have not started taking any money out yet and am not sure I want to stay with them.

    How do I get my money back?

  4. I would strongly advise you to not buy a policy with North American Co

    • I would like to know the reason.
      Thank you

  5. I have never had an issue with this company until today. I waited on hold for over 1/2 hour twice.

    The third call I got customer service on the phone and a nice lady helped me.

    However, she had to switch me to another person and department for me to make a withdrawal.

    I waited again for a long period until he came on the phone.

    He was very short with me and when I tried to get information on my wife`s policy with her standing next to me ready to take the phone and talk to him to give him her ss last 4, date of birth, address, phone number, etc

    he wouldn`t talk to her and said she had to call back because this call had been breached by me.

    I told him thats stupid and I had been on hold all afternoon, made many calls trying to get a Money transfer ON MY MONEY!!!!!

    He was abrupt and in my opinion a big a#$.

    No customer skills at all. I was so upset with him and he upset my wife as well.

    I was on the phone all afternoon and accomplished nothing with this idiot you employ.

    I have done this several times and your people have been great so what is happening????

    The other part is after this person told me to call back I tried and you were closed which I`m sure he knew.

    I am very seriously considering taking my money out of your company.

    Terrible customer service!!! No people skills!!!!!

  6. I transferred a whole life policy about 5 years ago, the agent stated when I did so at any point I wanted to terminate the policy I would receive the amount transferred in whether it was year one two or 10,

    Those facts were wrong and NA wanted to refund 0 dollars when I tried to cancel the policy and my cash value well there is none at all…

    I wrote a letter asking for my initial amount rolled over to be refunded and nothing more,

    they refused and sent me 500 pages of there contract like i”am an attorney.

    This is the worst company period their policies will never have any cash value ever.

    When a consumer is told one thing the company of that size should just refund what they roll over without even a question

    especially when I paid at least 4 years worth of premiums and was asking for none of that money,

    I even offered them to roll my money into an annuity with them, refused that also

    stay away go with New York Life Insurance much better company with better returns

  7. It is March 15 today and still nothing

  8. Today is Tuesday Jan 19 and still no results

  9. Do not do business with this company, they are a nightmare to deal with! Gave me the run around for months, refused to answer my questions and explain my policy.

    • I agree! They have been giving me the runaround for more than a year now

  10. North American Company denied me my deceased mother’s original annuity contract with the company. North American Company sent me a letter stating that I needed letters of testamentary showing that I was the executor of the estate in order to release financial information. I contacted a lawyer and found out that because my mother left me a Living Trust outlining me as the executor of the estate that I did not need letters of testamentary. After I found out that North American Company misinformed me, I had a lawyer investigate the account to get my mother’s original annuity contract and North American Company lied to the law firm saying that my mother never completed a contract with them and as a result, no account exists. I have evidence from my mother’s employer showing where she was making payments to North American Company. I lost my home that my mother left for me to foreclosure as a result of not receiving all of the money my mother left behind for me. I sent power of attorney and executor of estate documents to the company and they never honored their legal obligation to release financial information or give me my mother’s contract. Unacceptable and Outrageous!!!!!!

  11. I need to discuss with a supervisor the problems I am experiencing with their company. My mother is 91 yrs of age. I am attempting to annuitize her policy. North American refuses to cooperate with fixing a problem in which none of my mother’s money is being deposited in the bank to pay her rent. I have called numerous times and get no assistance. The party on the line, [Redacted], refuses to escalate to a supervisor. I have submitted numerous forms that Northern American Company has sent for signature to allow me to be the person responsible for my mother’s affairs. I still get no answer but more forms and many of them redundant forms. At this point, my mother is about to be evicted in which I will be forced to take legal action against North American Company. I need to talk to someone that will take charge of this problem. This is of an urgent matter that needs to be corrected.

  12. [Redacted] is a Regional Sales manager for Oklahoma. She should not be selling insurance, she lied about insurance information for 4 of us to be signed up for our insurance policies, the year 2017. She did not do her homework on the marketplace policies with our income base needs. She had all the information at the time she wrote all the policies and still did not come forth to let us know none of us qualified. She was unable to explain what she did or take any responsibility for her actions. This is wrong and she left us all hanging. I do not recommend her or this company that would allow such a problem.

  13. My agent transferred my wife’s life insurance (whole life) to North American thirty years ago. It has been a nightmare trying to deal with this company. They appropriately requested a notarized form from my wife giving me permission to discuss her policy. I faxed the form to them three times, none of which were acknowledged. After hours on the phone, I am told the forms were not received. I was provided a different fax number. I faxed forty-five copies to the company before an irritated representative stated they had the form. The billings are nonsensical and threatening, telling me to pay amounts like $7.48 or face termination. I NEVER receive confirmation of correspondence or payment, just another intimidating bill. Ten years ago I had my attorney investigate the company, and she could only say that the company is “legitimate,” but she would not be comfortable recommending it. Fast forward to 2018. My wife suffers from advanced Alzheimer’s, cannot speak or function independently. I am updating all of her policies, being certain to include our children as secondary beneficiaries. There are six insurance companies I am dealing with, including North American. The other five are well known and reputable. All five were professional, efficient and simple in their requirements. A form was sent, signed by me as my wife’s Power of Attorney, and I have received confirmation from all five. I am still dealing with North American. They are the ONLY company requiring a copy of the POA. My attorney advised sending the abbreviated copy, signed by my wife. North American rejected it claiming to require the full copy of the POA. I sent it to them via registered mail. One month later, no return or confirmation of receipt. I called yesterday, held for an hour, only to be told that the POA was still being “reviewed.” God help me when/if the POA is accepted and I have to deal with their adding our children as beneficiaries. I asked why I had not received confirmation of their having received the registered packet, and the representative explained that it is not the policy of North American to acknowledge receipt of mailed materials! She put a “rush” on my request and said it would be two weeks before hearing about the status of the POA. This is just step one. I will probably need my attorney to intervene and threaten to sue in order to simply add my children as secondary beneficiaries. All of this nonsense when five other insurance companies complied easily with just a paper request submitted. I am certain that I will need help from my attorney when the time comes to collect on my wife’s policy. This is absolutely the worst insurance company in existence!

    • Please tell me the name of the other 5 good insurance companies that you had experience with so that I can make a life insurance policy decision. And thank you, Eric.

  14. Is there any provisions for a reduced paid up life policy from North American Company? After paying premiums for over 20 years my policy is for $100000 and premiums have gone up a ton so I cannot afford them anymore.

  15. We are currently dealing with North American. My Dad passed from cancer in March, and had a life insurance policy with North American. We filed the claim, but North American claims Dad dropped the face value of the policy to 25% of what the original policy was, and 50% of what Dad told me the policy proceeds were just weeks prior to his passing. There was not a corresponding change in Dad’s premium amounts.

    The guy who sold Dad the policy resigned abruptly weeks after Dad passed. His reasoning was that Dad’s estate is too complicated. He also sold him some annuities with Allianz.

    The executor requested a full accounting of any changes Dad made to the policy, and documentation to support the changes. North American said that violates their company policy, and we have to get a court order to get those documents.

    Is this common practice, or is North American just hoping we’ll take them at their word & accept half of what we should receive?

    Thanks for any help …

    • Hi Shell,

      If the difference between the two numbers are substantial, I would absolutely involve an attorney at this point. Not only will they have experience in this, they can get a hold of the documents needed.

      Eric Stauffer

  16. My Mother-in-Law has paid her premiums for over 30 years and is now 89 years old and North American Company has raised her rates from $400 per year to $217 per month and she can no longer afford to pay for her life insurance. It looks and smells like a scam company to me!

    • Your mother-in-law most likely purchased a 30 year term plan. The 30 year term means she has level premiums during those years but they go up afterward. Please do your research before trying to put down a good company as my organization has worked with them for over 2 years with no issues. If you have questions as a licensed agent in the Midwest, I could certainly look at the policy for you to confirm what I am saying is indeed the truth.

  17. Absolutely impossible to contact this company for anything. Have called 3 days in a row simply trying to find out if two clients of ours are setup for automatic RMD withdrawals. The first two days was on hold for an hour, finally left a call back number. They did call back both days but almost 4 hours later and of course I was away from my desk so back to square one if you don’t sit by your phone all day long. Called for the third time today and now no option to even leave a call back number! Have been on hold for an hour. This company does nothing but waste our time and makes it abundantly clear that they do not wish to ever speak with a customer. Our firm will absolutely no longer sell policies to our clients from North American, no way.

  18. What a terrible company! I have had a term policy for many years and have never had to contact them. This year I tried to use their online payment option but the website said it has no record of my policy. I tried to call but was on hold for two hours. I finally selected the option to be called back and not lose my place. Still waiting. This is just a routine billing issue. I feel sorry for anyone who has had a loss and needs to make a claim. The last thing you need at stressful times of your life is a company like this. AVOID!!!

    • I agree! My husband had a life insurance policy with them and died on 3/18/18.

      It is 7/26/19 and they are still giving me the runaround on collecting.

  19. I would stay AWAY from North American Company!! My father passed away in March 2016 and we have still not been paid out on his life insurance policy. It has taken almost a year for them to review documents and paperwork in order to pay us. They just came back and want us to sign the paperwork again (even though the signature is clear as day!!). They are just trying to slow down the process and make excuses to not pay out on this policy. I do not think this is what he had in mind when he purchased his policies. They are very small and have very little resources. This would not be a good place to invest in an annuity or life insurance policy. There are much better companies that are much safer that pay out on their policies.

    • My husband died eight months ago and I can’t collect on his policy . They are obviously stalling to try to avoid paying out!

      • It is July 26 2019 and still no results

  20. NA cancelled my policy 500,000 A FTER PAYING PREMIUMS for 28 years amounting $380,000. NA invaded the cash value of $200,000 without notifying me. Cancelled policy for nonpayment of an invoice for $300 that was never received. NA offers me a replacement policy of $100,000 paying $4000 a month. If NA informed me about using my cash value, I would have surrounded policy and retrieved over $200,000. The company has unethical practices and hides behind clauses in contract to actually cheat the consumer.
    Under no circumstances ever buy a NA life insurance policy. Had my husband passed away day before cancellation, I would receive $500,000 death benefit. A day laterI would receive nothing.

    • Do you know how to file a class action law suit?

    • I’m in the same boat only It was a 100,000 plan.

      When I asked if I’m going to be returned my money on the plan the answer was no because I’m paying the bare minimum and there is no money.

      I’m at the point of wtf and how did all the money I’ve put in all these years not roll over.

      It’s bs.

  21. I am having difficult finding out the quality of your company. I have a person I trust who is willing to sell me an annuity from your company but I can see that you have 10 unhappy customers in the past 3 years. How can I determine that you wont go out of business?

  22. Hi,
    My parents are about one year away from retirement. Recently, while at a local branch bank they were referred to an independent broker to open a North American annuity to help save for their retirement. They met with the broker and handed over $20,000 for the principal. They were told they would meet again in a month to sign the annuity contact. They were not given any information about the plan in writing. I am concerned about my parents, and would like to help them understand the implications of the contract they are about to sign. I have read that annuities are not a great idea when it comes to investing because of the high surcharge fees involved, and due to one usually outliving their money. My parents are investing almost all of their savings into this plan which is of concern for me, since they do not have much to begin with and I’d hate to see them lose it what they have worked so hard for. The details of the plan is that it is a North American Guarantee Choice policy for 5-years at a fixed rate of 2.6%. Can you tell me if this is a wise investment? Also, do you know if any surcharge fees apply at the end of the 5-year term of the contract upon payout? I went online and saw some words in fine print that said that “on the contract anniversary following the annuitant’s 100th birthday the surrender charge percentage will be reduced to zero percent”. Does that mean they will need to wait until age 100 to receive their money without any fees? Any advice would be greatly appreciated.

    • Hi Lou,

      This sounds like a job for a local FEE-BASED financial planner. Find an expert who will do an analysis of your parents assets and plans for a flat fee. They will be able to look at your personal information and provide a customized recommendation.

      You are right to be concerned when something this important is at stake.

      Eric Stauffer

  23. While this is an objective and even handed review I believe the Consumer Research and Complaints Section is incomplete.

    In my opinion the Better Business Bureau is not the best choice to gauge consumer opinions and feedback about a life insurance company. North American for Life and Health and its sister company Midland National Life have been the subject of regulatory actions, Attorney General investigations, and class action lawsuits by policy holders in multiple states. North American has paid millions of dollars in fines and tens of millions of dollars in settlements as a result of their sales practices. I see that as a more accurate indication of consumer sentiment.

    • I am still in shock over the poor quality of service I received by North American as well as the parent company. I received an annual bill for payment of $1000 which was double the year before, on a policy I have had for 20 years. It was paid within the grace period. A month later I was sent another bill for over $2000 dollars. I was told that I owe more to have sufficient surrender value. I asked what the next annual bill would be and was told I wasn’t allowed that information until I paid the additional $2028. So my insurance was canceled because I didn’t keep pay more than the bill I was sent for $1000. I asked for my $1000 back and was told that because I didn’t ask for the money back during the grace period, which they never offer, they refused to return the money because “technicality” it was theirs even my policy was cancelled.

      Buyer beware! If I haven’t paid the last annual bill they would have cancelled my policy anyway but I would have had my money! Now I am out the $1000 dollars, no insurance and the only saving grace is they cancelled my policy before I poured more $ in their black hole.

      I called the corporate company and their attorney promised me she would review and get back to me about a refund. NEVER heard from her again.
      Buyer beware!!!!!

      • My situation was exactly like Linda’s After repeated calls to find out how much I owed they cancelled me saying I was $76 short even though they had just told me I was up to date. A terrible company. Buyers beware

    • In regards to Erilc MNLU’s statements about millions of dollars of lawsuits (on 4/19/15) investigations,etc. I am considering buying a fixed index annuity with N America with a starting premium, of $100,000 investing in their newer product called Prime Path S Fixed Index Annuity. With all those complaints, lawsuits,etc. why would I want to purchase this now? Would you? Seems like the company is not doing things according to the laws if all of this is happening to it. Would appreciate a reply at your earliest convenience since i am considering canceling the annuity and getting my money back since i did not yet signed the policy, which will be delivered to the agent soon. Thanks, Richard S.

      • Hi Richard,

        Before purchasing an annuity, I would consult a local, FEE-BASED financial planner. Annuities come in all shapes and sizes, and the companies that sell them vary in quality as much as the products do. Having someone local that could look over my entire portfolio and make a recommendation that wasn’t based on a commission (hence the FEE-BASED planner) would be my preferred route.

        As far as the lawsuits go, I would consult an attorney with knowledge in the field if they were of concern to me. They would be able to guide me through the likely hood of losing part of my investment.

        Eric Stauffer

  24. Thanks for your response and update. I am, however, still concerned that whether it’s 10 or 12 (no big difference), the fact remains that you said only one was resolved – that looks bad, when as of today, 10 out of 10 have been resolved, which is much more important. Otherwise the company looks like it’s not resolving many issues, when in fact it is.

    • Hi Fred,

      I just went back and reread the original post, and I think I see where the issue is. The way I worded it made it sound confusing.

      What I was trying to say is that there have been 12 complaints filed in the last 3 years, and 1 complaint resolved in the previous 1 year. While that is in fact true, it insinuates that out of the 12 complaints only 1 was resolved. When in fact, they are two different time frames.

      I have gone ahead and updated that section and better worded it.

      Thanks again,
      Eric Stauffer

      • you sound like a true politician

  25. Why would you as a “consumer advocate” post such ERRORS about North American? They are in fact rated A+ by AM Best and A+ by S&P. Also, there have only been 10 complaints in past 3 yrs, and 10 have been resolved in the past year. And the fact that you can’t quote them without an agent is not a bad thing. Changing those things on your post would bring up their overall rating.
    Thank you.

    • Hello Fred,

      Thank you for taking the time to comment. I appreciate you pointing out the error on the financial strength ratings. They have been updated to reflect the correct standings with the rating institutions. The truth is that sometimes I make mistakes.

      Regarding the Better Business Bureau complaint total, I believe the numbers were current at the time of publishing (September, 2014). The complaint totals rise and fall throughout a given time frame as some are added and others fall off. Either way, the difference between 10 and 12 would not play an impact in the overall score of this review.

      Quoting methods are not factored into overall ratings, so the requirement to get a quote through an agent doesn’t lower their score.

      Eric Stauffer

  26. I am a 24 year old single male looking to invest in my future. I was referred to an agent from northwest mutual. I like this institution and the financial plan I have set up with my agent. I have yet to purchase any policy yet. I recently talked to my parents and found put that when I was 13 my parents set up a universal life insurance policy for me. They are paying an annual fee of 1,500 a year, so it has had some time to grow. The policy was taken out with North American Company for Life and health insurance. I don’t like this company as much and feel less secure with this agency. Should I continue to invest in the universal life insurance my parents have already started for me? Or should I look to open a new policy with a company I trust more. Advice would be greatly appreciated!

    • Hi Jeremy,

      Glad to see you taking the bull by the horns in your early/mid 20’s. You are already asking the right questions.

      Let me start by saying I cannot give you specific advice, but I can talk in general terms. Personally, I do not like whole or universal life insurance products because I feel they are grossly overpriced and anyone can get a better deal by doing a little research and investing themselves. I wrote all about it in the following article:

      Why Term Life is Better than Whole Life

      The lessons in that article apply to universal life, as well.

      To answer your question, If you do not feel comfortable with your current insurance company, by all means switch. Just make sure to get new policies you are happy with in place before cancelling old ones. You may find the cost is prohibitive to move, and it might be economically better to just stick it out with a less favorable company.


    • Don’t ever write policy for this company. They have customer service that don’t want to help you or even talk to you and tell you to call upline. Upline is pretty clueless waiting for them to email as well. Very hard communication, very stressful waiting for them to respond. They had me rewrite my applications and this is the third time I have to redo my application which my clients will have to resign three times. If this third time does not go through, I’m done with their company. This is my last time doing business with them.


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