Customer ReviewsforNorth American Company for Life and Health Insurance

I am extremely disappointed and upset with North American Annuity Company. I have 2 annuities with them. On January 22nd, 2024 , with my agent, on a 3 way phone call, we spoke to C****** and asked to change the date that I receive one of my deposits, as it wasn't working for my budget. Once that was settled, she said that I had almost $5000 that was available to me from that account. My agent and I both asked questions about it and it was made to sound as though it was just extra money laying there. Well, who wouldn't want it? I had a lot of home repairs I needed to make. My agent and I both asked several times if it would affect my income amount. She said no, but that I couldn't take it out until the anniversary date in March. On April 5th, 2024, my agent and I again called North American and spoke to B****. We again were told that this money was available and that it would not affect the income from that account. We were also told that the smaller annuity had $1400 available to me, and that again the income from the account would not be affected. WRONG. That income from the smaller account has gone from $234 to $107. I called, spoke J***** who explained that annuities didn't work like that, that I have a certain amount every year that is made in 12 payments, and that the 1400 I received was like an advance from that year's income. When I said NO ONE told us that, and that I NEVER would have taken that money had I known, and that 2 different employees, at 2 different times told us the opposite, he said he would send my complaint to the ************ ***** When S****** called, she was so understanding and apologetic when she told me my bigger account would, in September be reduced from 575 to 163! So until April '25 my income will be reduced from 809 to approx 270! Those 2 women either outright lied to us, or were too incompetent to be in a position that can devastate peoples' lives! It will be so difficult to manage for those months, and I'm angry.

While we regret any dissatisfaction, North American appreciates the opportunity to review and address the stated concerns. In the interest of protecting our policyholders' privacy, we will be reaching out to the client directly.

Do not use their Annuity. If you cancel that, they will not communicate with you and they will not return all your money.In my case, they took 20% without permission and explanation. If you have a similar case, file complaints to the Better Business Bureau and file complaints to the Securities and ******************* (SEC). Find your family attorney for more advice.It is illegal for them to take 20% without explanation

North American is committed to our customers and regrets the frustrations expressed by our Contract Owner. We appreciate the opportunity to review and respond to the feedback and can confirm additional explanation was sent directly to the Owner.

This company is one of the worst. Do not use them. Their products will not allow you to earn money and take it out. You will not be able to get anyone on the phone here. Just terrible.

North American has received your review and we sincerely regret your experience. We appreciate that you took the time to provide us with this valuable feedback. It appears you may have had the opportunity to speak with a representative on April 10, however, if you do have any additional questions the Company can be reached by phone at 866-322-7069 or email at [email protected]. Additionally, contract information is available on our website at northamericancompany.com.

Don't trust their employees they do not know the processes involved. The company was sent a check as asked, then they refunded it. Their employee said go cash the check since you are cancelling the policy and you are in the 60 day grace period. This was in October then we received another check in November which was the cancelled premium amount for being in the grace period. But for some reason we are still in grace 2/21/2023 and owe the September refund dated 9/14/2022.

North American has received your review and we sincerely regret your experience was not what you expected. We appreciate that you took the time to provide us with this valuable feedback and a Customer Service representative has reached out to you to discuss this further. Thank you.

I'm writing to express my dissatisfaction with North American Life insurance company's S&P 500 cap rate. It has dropped too much compared to other companies, even compared with their current IUL product S&P 500 cap rate. This has caused us to lose out on potential earnings and has caused us to become increasingly frustrated with the company. We understand that the stock market can be unpredictable, but we feel that North American should have taken more precautions to ensure that their cap rate remains competitive. I hope that the company will take our concerns into consideration and make the necessary changes to ensure that their customers are not put at a disadvantage.

North American has received your review and we sincerely regret any frustrations you are experiencing in regards to your policy. We appreciate your feedback and a Customer Service representative has reached out to you to discuss this further. Thank you.

This is in regards to a life insurance policy on my mother-in-law. In short, they keep changing what this policy ACTUALLY provides! First it extended to age 120. Then they said no, it went to age 100. Then they said it DID go to age 120 and don't worry about the illustration that came in the mail. Then they said, no in fact it only went to age 98. Meanwhile each step along the way they said the FIXED insurance premiums were somehow needing to be increased. They seem nice on the phone (if you wait several hours to talk to someone) but they don't seem to know what they're talking about and they keep changing their information. Feels like a scam! How do I even know they'll honor the policy?

Please be advised that North American sincerely regrets any frustration you have experienced with respect to the life insurance policy. We understand there has been further communication regarding the Policy since you posted this review. However, if there is anything additional we can assist with please contact us at 1-877-872-0757 or [email protected].

In October 2022, I wanted to do a direct rollover from another policy and faxed over an acceptance form to be completed and returned, after they previously verified they would accept the rollover. As of today, November 22, one month later, said form has yet to be received. I am extremely frustrated with the unprofessional handling of this matter after reaching out to Customer Service several times and feel absolutely ignored. I'm now considering breaking all ties with this company and moving my funds elsewhere. I must do what's best for me.

North American has received your review and we sincerely regret any frustrations you are experiencing in regards to your policy. We appreciate your feedback and a Customer Service representative will be reaching out to you to see if we can assist you in finding a resolution to your concerns. Thank you.

Had a policy with them since 1982 and as of 10/2022 wanted to do a policy conversion. This company has ZERO customer service or contact other than a mailing. As a part of the Sammons Financial Group I can also state that I will have nothing to do with either company moving forward. No need to get long winded but it seems that consumers have no protection.

North American has received your review and we sincerely regret any frustration you are experiencing in contacting us. We appreciate your feedback, and a Customer Service representative will be reaching out to you to see if we can assist you in finding a resolution to your concerns. Thank you.