North American Life Insurance Review 2025

North American Life Insurance works well for people seeking long-term protection and financial flexibility. The company's focus on permanent life insurance options, particularly universal and indexed universal life, makes it ideal for building cash value while maintaining lifetime coverage.

You should consider North American if you're planning multi-generational financial security, earning high income and building tax-advantaged assets, or own a small business and need succession or key-person coverage. The company's approach also appeals to consumers who value working with financial professionals to customize coverage.

North American offers different types of life insurance products designed to meet diverse protection and financial planning needs.

North American's ADDvantage® Term Life gives you affordable temporary coverage with level premiums for 10, 15, 20 or 30 years. You can renew your coverage until age 95 and convert it to permanent plans, without new medical underwriting. This coverage works well if you need straightforward protection for a specific period, such as protecting a mortgage or providing income replacement.

Qualifying applicants can use the WriteAway® Accelerated Underwriting program, which eliminates the medical exam for eligible healthy applicants. This process speeds up approvals and ensures faster policy issuance, often within 48 to 72 hours.

Rates shown reflect average quotes for applicants with average weight and health ratings. Your actual premiums may be higher or lower based on your age, health, lifestyle and coverage needs.

North American's whole life insurance provides permanent protection with level premiums and guaranteed cash value growth. While not featured prominently on the consumer website, the company offers this coverage through its financial professional network. It delivers lifetime benefits with predictable premium payments and guaranteed growth that can supplement long-term financial goals.

Whole life insurance also serves as a conversion option for policyholders who start with term coverage but want to secure permanent protection later. Because premiums and benefits are fixed, this product works best if you prefer long-term stability over flexibility.

Rates shown reflect average quotes for applicants in good health. Your actual premiums may be higher or lower based on your age, health, lifestyle and coverage needs.

The Custom Guarantee® Universal Life policy provides lifetime protection with flexible premium payments and a guaranteed death benefit.

This universal life insurance policy lets you adjust payment schedules and maintain guaranteed coverage up to age 120.

Rates shown reflect average quotes for applicants in good health. Your actual premiums may be higher or lower based on your age, health, lifestyle and coverage needs.

North American's indexed universal life insurance products combine flexible lifetime coverage with cash value accumulation potential based on market index performance, such as the S&P 500. Each policy includes a 0% floor to protect against market downturns while allowing participation in market growth up to the index cap.

• Builder IUL: Balanced growth and protection, ideal for long-term cash accumulation
• Builder Plus IUL: Enhanced interest-crediting features and bonus multipliers for increased growth potential
• Rapid Builder IUL: Designed for early cash value growth, helping you access funds sooner
• Guarantee Builder IUL: Emphasizes guaranteed death benefits with moderate accumulation potential
• Legacy Optimizer: Single-premium IUL for wealth transfer or estate planning
• Survivorship GIUL: Covers two individuals and pays benefits after the second insured's death, which is best for estate planning and legacy strategies

Each IUL includes living benefits that allow you to accelerate a portion of the death benefit if diagnosed with a qualifying illness. The flexibility to adjust premiums, death benefit amounts and account allocations allows the IUL suite to serve diverse financial needs.

Rates shown reflect average quotes for applicants in good health. Your actual premiums may be higher or lower based on your age, health, lifestyle and coverage needs.

North American offers several riders to customize coverage to specific needs.

The North American claims process goes through the company's dedicated Life Claims Department. You can start a claim by phone, email or mail. Claim forms must be submitted with a certified death certificate and proof of identification.

Steps to File a Claim:

1. Download and complete the claim form from the official website.
2. Gather required documents, including a certified death certificate.
3. Submit all materials to North American via mail or email.
4. Wait for confirmation and processing.  

Contact Information:

• Phone: 877-733-2524
• International calls: 712-847-1334
• Email: LifeCorrespondence@SFGmembers.com
• Mail: One Sammons Plaza, Sioux Falls, SD 57193
• Claims Forms: https://www.northamericancompany.com/life-claim-forms

North American Life Insurance is a good choice for those seeking permanent life insurance with cash value growth potential.

These frequently asked questions address common concerns about North American's coverage options and processes. The answers provide essential information for potential policyholders evaluating the company's products.

North American Life Insurance's agent-only sales model and focus on permanent coverage create unique considerations for buyers accustomed to online insurance shopping. We designed our North American Life insurance review to evaluate whether the company's traditional approach and comprehensive product lineup justify working with a financial professional rather than buying coverage online.

We evaluated North American across three weighted categories that reflect what matters most when selecting permanent life insurance coverage:

• Affordability (55%): Premium costs across different customer profiles and coverage amounts
• Customer Experience (30%): Claims processing speed, customer service accessibility and overall policyholder satisfaction
• Coverage Options (15%): Available policy types, benefit amounts and additional riders

Rate Collection Process

We collected North American quotes using a standardized profile to ensure fair comparisons with major insurers:

• 40-year-old male
• Nonsmoker
• 5 feet 9 inches tall and 160 pounds
• Average health rating

This baseline profile represents the demographic most likely to consider North American's permanent coverage options while creating consistent rate comparisons across the life insurance market. We then modified age, gender, height, weight, tobacco use and health rating to determine average North American costs for different customer types.

Coverage Analysis Scope

We collected quotes for varying term lengths and permanent coverage options to understand how North American's pricing scales with different policy sizes.