North American Company for Life and Health Insurance

What North American Company for Life and Health Insurance does

North American Company for Life and Health Insurance is a privately held US life insurance and annuity carrier domiciled in Iowa and headquartered in West Des Moines, Iowa. The firm traces its origin to the 1886 founding of the North American Accident Association and now operates as a wholly-owned subsidiary of Sammons Financial Group, Inc., alongside the sibling Midland National Life Insurance Company. Its product portfolio spans fixed index annuities (FIAs), fixed, immediate, and deferred annuities, term and permanent life insurance, and the Life Insurance Retirement Plan (LIRP) strategy that uses permanent life cash value for tax-advantaged retirement income. FIA products credit interest based on stock market index performance while protecting principal from market downturns.

The business model is built on recurring premiums and annuity deposits from US individual consumers, distributed exclusively through an independent financial professional and agent channel — the 'Find an Agent' funnel on the company website is the primary customer acquisition surface. Pricing is quote-based and not publicly disclosed; products are multi-year contracts with surrender charges that produce retention. Revenue is generated through life insurance premiums and annuity premiums/income payments. The firm reports no app, no API, and no digital self-service purchase channel.

North American carries A+ financial strength ratings from all three major agencies (A.M. Best Superior affirmed August 13, 2025; S&P Strong affirmed May 15, 2025; Fitch Stable assigned June 17, 2025), and its parent Sammons Financial Group issued $750 million of 5.95% senior unsecured notes due June 2036 with proceeds supporting growth at the subsidiary. Operations are US-only with no disclosed international footprint and no publicly reported subsidiary-level revenue or headcount trend.

Name

North American Company for Life and Health Insurance

Legal name

North American Company for Life and Health Insurance

Website

https://northamericancompany.com

Company type

Private

Founded year

1886

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

North American Company for Life and Health Insurance is a privately held US life insurance and annuity carrier, wholly owned by Sammons Financial Group, serving individual consumers through independent financial professionals with fixed index annuities, fixed and immediate/deferred annuities, and term and permanent life insurance.

Ownership category

akta.pro rank

Product category

Life Insurance and Annuities

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Life Insurance (6311)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industry

Guaranteed Issue Term Life Insurance (FSAIAAAG)

Keywords

• Life insurance products
• Fixed index annuities
• Retirement income planning
• Permanent life insurance
• Annuity income solutions

Headquarters

HQ city

Sioux Falls

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Life Insurance Premiums: The company earns revenue through life insurance premiums collected from policyholders. Products include term life insurance and permanent life insurance policies with cash value accumulation features.
2. Annuity Premiums and Income Payments: Revenue generated from annuity products including fixed annuities, fixed index annuities, and immediate/deferred annuities. Policyholders make premium payments or single lump-sum payments in exchange for guaranteed income streams.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

North American Company for Life and Health Insurance underwrites and distributes individual life insurance and annuity products to U.S. consumers through a network of independent financial professionals. Its core offerings include Fixed Index Annuities (FIAs) that credit interest based on stock market index performance while protecting principal, Fixed Annuities, Immediate and Deferred Annuities, Term Life Insurance, Permanent Life Insurance (whole/universal) with cash value accumulation, and Life Insurance Retirement Plans (LIRPs) leveraging cash value for supplemental retirement income.

Product overview

North American Company for Life and Health Insurance is a life insurance and annuity provider offering a portfolio of products under Sammons Financial Group. The core offerings include Fixed Index Annuities (FIAs) that provide market-linked growth potential with principal protection, traditional Fixed Annuities with guaranteed rates, and Immediate/Deferred Annuities for retirement income. Life insurance products span Term Life, Permanent Life Insurance (whole/universal), and Living Benefits riders. The company also offers Life Insurance Retirement Plans (LIRPs) that leverage cash value accumulation for supplemental retirement income. Products are distributed exclusively through financial professionals.

Differentiator

Problem solved

Functional benefit

Products and services

• Fixed Index Annuity (FIA) A fixed index annuity that credits interest based on stock market index performance without direct market investment risk, offering principal protection and guaranteed income options for individual retirement savers.
• Life Insurance Life insurance products that provide death benefits and financial protection for beneficiaries, including options with living benefits for qualifying illnesses, sold to individuals and families.
• Fixed Annuity A fixed annuity contract providing a guaranteed minimum credited interest rate for stable tax-deferred growth of retirement savings.
• Immediate Annuity An annuity that begins income payments shortly after purchase (typically within 30 days to one year), often used to supplement pension and Social Security income in retirement.
• Deferred Annuity An annuity with a deferral period allowing savings to grow on a tax-deferred basis before entering the payout phase during retirement.
• Term Life Insurance Term life insurance providing death benefit coverage for a specified period without cash value accumulation.
• Permanent Life Insurance Permanent life insurance policies, including whole and universal life, that offer both a death benefit and cash value accumulation with tax-deferred growth potential.
• Life Insurance Retirement Plan (LIRP) A strategy using permanent life insurance cash value to supplement retirement income, offering tax-advantaged growth and flexible income access through policy loans or withdrawals.

Quantifiable outcome

• One in four non-retired adults do not have any retirement savings
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Nationwide Financial: Large diversified insurer offering life insurance, fixed and indexed annuities, and retirement plans through financial professionals and direct channels. Comparable product set with significantly broader scale.
• MassMutual: Large mutual life insurance company offering whole life, universal life, term life, and annuities through financial professionals. Broader portfolio than North American but overlapping target customers and products.
• New York Life Insurance Company: One of the largest US mutual life insurers, offering whole life, term life, long-term care, and annuities through a captive agent network. Larger and broader than North American but addresses overlapping customer needs.

Direct peers

• Midland National Life Insurance Company: Sister company under Sammons Financial Group, also offering life insurance and annuity products through independent agents. Direct competitor for Sammons-internal capital allocation and overlapping distribution relationships.
• Athene Holding: One of the largest US fixed index annuity and fixed annuity issuers, operating through independent advisors. Closely comparable FIA product suite and distribution model.
• Allianz Life Insurance Company of North America: Major US player in fixed index annuities and registered index-linked annuities, distributed primarily through independent financial professionals. Highly comparable FIA-centric product focus.
• Brighthouse Financial: Publicly traded life insurance and annuity carrier with significant FIA and Shield annuity offerings distributed through advisors. Directly comparable product mix and distribution channel.
• Lincoln Financial Group: Sells term, universal, and indexed universal life insurance plus fixed and variable annuities through financial advisors. Overlapping life and annuity product portfolio with comparable advisor-led distribution.
• Pacific Life: Mutual insurance company offering universal life, variable life, fixed annuities, and indexed annuities through financial professionals. Comparable product breadth and advisor distribution model.
• Corebridge Financial: Large US life and retirement carrier with significant indexed annuity, fixed annuity, and life insurance offerings distributed through advisors. Direct overlap in target products and channels.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/northamerco
• Facebookfacebook.com/northamericancompany
• LinkedInlinkedin.com/company/north-american-company-for-life-and-health

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about North American Company for Life and Health Insurance