North American Charter Plus 10 FIA Review (2026)
Quick take: North American Charter Plus 10 is an established A+ rated 10-year FIA with multiple crediting strategies, an optional income rider and no premium bonus complexity. Strong A+ carrier strength via Sammons Financial Group.
Contract minimums (checked October 4, 2026): guaranteed minimum cap 0.50% on the S&P 500 annual cap and 0.25% on the monthly cap; minimum participation rate 5% (annual) and 10% (two-year), 10% and 15% on the strategy-fee options; maximum spread: not publicly disclosed; bailout: none found in public documents. Source: Charter Plus 10 disclosure 32541Z-4 (January 2024). These contractual minimums are backed by the claims-paying ability of North American Company for Life and Health Insurance. To see how this floor compares with other fixed indexed annuities, read guaranteed minimum caps across FIAs (October 2026).
TL;DR: NA Charter Plus 10
- 1-yr S&P 500 cap (estimate) (as of June 2026): 7.5-9.5%
- S&P 2-yr participation: 90-120%
- AM Best: A+ (Superior), Stable outlook
- Surrender period: 10 years declining
- Premium bonus: None on Charter Plus base; bonus variants available separately
- Income rider: Optional (0.95-1.20%/yr fee)
- Best for: A+ 10-year FIA buyers; optional income rider available
- Verdict: Solid A+ 10-year FIA. Mid-pack caps for the credit tier.
Rate Snapshot: June 2026 (estimated)
| Crediting Strategy | (est.) (as of June 2026) | Minimum Guaranteed |
|---|---|---|
| S&P 500 1-yr cap | 7.5-9.5% | 1-2% |
| S&P 500 2-yr participation | 90-120% | 10-20% |
| SG/Morgan Stanley custom indices | 50-70% | 5-10% |
| Fixed 1-yr rate | ~3.0-3.5% | 1.0% |
CD vs MYGA, after tax
What $100,000 earns in 5 years: CD vs MYGA, after tax
Rates used: CD 5.00%, the top nationally available 5-year CD (Bankrate, October 14, 2026); change it to the rate you are offered. MYGA 5.95%, the best A-rated rate we track as of October 13, 2026: Delaware Life Pinnacle Plus 5-year (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).
| CD, interest taxed every year | $121,081 |
|---|---|
| MYGA, tax-deferred, before tax | $133,507 |
| MYGA after paying tax on all the interest at withdrawal | $126,136 |
| Tax deferral alone adds about | $674 |
| MYGA ahead of the CD, after tax | $5,055 |
Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge. In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.
Term-specific mechanics: 10-year contract
Surrender schedule (10-year)
| Year | Surrender Charge |
|---|---|
| 1 | 10% |
| 2 | 10% |
| 3 | 9% |
| 4 | 8% |
| 5 | 7% |
| 6 | 6% |
| 7 | 5% |
| 8 | 4% |
| 9 | 2% |
| 10 | 1% |
| 11+ | 0% |
Free withdrawal
10% per contract year. RMDs penalty-free.
MVA
Two-way MVA above 10% free band.
Minimum guaranteed values
Cap floor 1-2%; fixed 1.0%.
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Why the 10-year version
NA Charter Plus 10 is the standard accumulation variant. Sammons offers other product lines (Performance Choice, Income variants) at different surrender lengths and feature sets; Charter Plus 10 is the clean 10-year accumulation play.
What we like
- A+ AM Best rating. Top-tier carrier strength via Sammons Financial Group.
- Multiple crediting strategies. S&P 1-yr, 2-yr participation, custom indices.
- Optional income rider. Flexibility to add at issue.
- Sammons renewal-rate integrity historically strong.
- No premium bonus complexity. Clean base contract.
What we don't
- Caps mid-pack for A+ tier. Athene PE 10 may pay similar or higher caps.
- Cap renewal risk.
- 10-year lock.
- Income rider fees add ~1% drag. Only justified if you'll activate income.
Who this version is best for
Persona: 55-68 year old placing $100K to $500K who wants A+ carrier 10-year FIA with optional income rider flexibility.
Not a fit: Buyers focused on max cap rate (F&G Power Accumulator 10 better). Buyers who want pure accumulation without optional riders (Athene PE 10 simpler).
vs sibling/related NA products
North American has multiple FIA product lines (Charter Plus variants, Performance Choice, Income-focused products). Charter Plus 10 is the standard 10-year accumulation play within the lineup.
vs competitor 10-year FIAs
| Product | AM Best | S&P Cap (est) | Notes |
|---|---|---|---|
| NA Charter Plus 10 | A+ | 7.5-9.5% | This product |
| Athene PE 10 | A+ | 8.5-10.0% | A+ alternative, higher caps |
| F&G Power Accumulator 10 | A- | 9.0-11.0% | Higher caps, A- |
| F&G Prosperity Elite 10 | A- | 8.0-10.0% | A- with bonus |
| SILAC Denali 10 | B+ | 7.5-9.5% | Comparable cap, weaker credit |
Scoring frameworks
DBQS
Full accumulation at death (rider-free). DBQS: 8/10.
IQS
Optional income rider available. IQS: 6/10 with rider; 3/10 without.
GPS
Mid-pack A+ 10-year caps. GPS: 7/10.
Goldstein Complexity Index
A core part of every Goldstein review. The more complex an annuity, the worse the rating in this dimension, because complexity is where buyers get burned. Simple products (SPIAs, MYGAs) score low; products with stacked bonuses + income riders + MVA + multiple crediting strategies score high.
This product's score: 50/100, Grade B (Moderate)
Standard FIA mechanics. Complexity rises if income rider is added (benefit-base separation, fees).
Score breakdown
| Dimension | Score | What this measures |
|---|---|---|
| Riders | 3/10 | Optional income rider; optional death benefit rider on some variants. |
| Crediting strategies | 6/10 | S&P 1-yr cap, S&P 2-yr participation, custom indices, fixed. |
| Surrender complexity | 5/10 | Standard 10-year declining + MVA. |
| Benefit-base separation | 3/10 | Benefit-base separation if income rider added; single accumulation if rider-free. |
| Optional rider complexity | 5/10 | Income rider adds benefit-base separation and fees. Rider-free contract is simpler. |
How to read this
- A+/A (0-40): You can understand what you bought. Low risk of mis-selling.
- B (41-60): Read the contract carefully and get a second-opinion review before signing.
- C (61-80): Many buyers don't fully understand what they own.
- D (81-100): Demands an independent producer second opinion before signing.
Frequently Asked Questions
Sources cited
- public carrier rate sheets broker-channel synthesis, June 2026
- Annuity.org FIA leaderboards
- AnnuityAdvantage FIA listings
- North American Company
- NOLHGA
Related Goldstein research
- Compare: Athene PE 10 (A+ peer)
- Compare: F&G Power Accumulator 10 (A- yield leader)
- Compare: Allianz Benefit Control (A+ hybrid)
- Best FIA Caps 2026
- Renewal Rate Integrity
- IQS Framework
My take
NA Charter Plus 10 is a solid A+ 10-year FIA with optional income rider flexibility. Mid-pack caps for the credit tier; Athene PE 10 currently leads on A+ cap rate, F&G Power Accumulator 10 leads on A- cap rate. Charter Plus 10 is the right pick if you want A+ credit + rider flexibility in one contract.
Get an independent quote on this product
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Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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Disclosure
This review is based on the carrier's public product materials and rates as of the date shown above. Annuity rates, caps, participation rates, payout factors, and crediting methods change often, sometimes monthly. Confirm current figures in the latest carrier disclosure and the contract before you buy. This is general education, not a personal recommendation or an offer of any product. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated carriers; the producer's specific appointment status with the carrier discussed in this review may vary, and this review is not an endorsement or representation of carrier appointment. No carrier paid for this review. Always read the actual contract and consult a licensed advisor before purchasing any annuity. Past index performance does not predict future credited interest. Annuities are long-term contracts with surrender charges; they are not suitable for funds you may need before the end of the surrender period. AM Best ratings and tax treatment are subject to change.