Annuity

An annuity comes in many forms, but a simple definition is that an annuity is a contract that converts a sum of money into a series of periodic payments for an agreed upon period of time. An annuity can be thought of as a financial vehicle that converts a pool of money into a stream of income. Annuities are most useful in addressing the financial planning needs of people in or approaching retirement. Annuities are unique in the financial world because they can provide protection against the risk or outliving one’s assets (longevity risk) by guaranteeing income payments in perpetuity or any other selected amount of time. Annuities can be viewed as a type of personal pension plan. Social Security is similar to an annuity in that money contributed over the course of one’s working years is converted into a series of periodic payments that provide income during retirement.

North American

Short Company Name:

North American

Long Company Name:

North American Company for Life and Health Insurance

North American Company for Life and Health Insurance was founded in 1886 and is currently headquartered in Chicago, Illinois. North American, as it is commonly called, offers life insurance products to individuals. An overview of its life insurance products is as follows:

Term Life Insurance: Offers coverage for a specified term with guaranteed level premiums.

Company Type:

Insurance Company

Web Site:

www.nacolah.com

Address

Street Address:

525 West Van Buren

City:

Chicago

State:

ZIP Code:

60607

Country:

USA

Phone Number:

866-322-7066

Fax Number:

866-322-7071

Year Founded:

1886

Key Phrases:

Glossary:

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Nodak

Short Company Name:

Nodak

Long Company Name:

Nodak Mutual Insurance Company

Nodak Mutual Insurance Company was founded in 1946 by North Dakota Farm Bureau with an aim to provide competitive products and superior service to meet the financial needs of its members. Nodak Mutual is headquartered in Fargo, North Dakota and serves the customers across the state.

Nodak Mutual’s product range include auto insurance, home insurance, annuities, crop insurance etc. to individuals and businesses. A brief overview of products offered by Nodal Mutual is as follows:

Company Type:

Insurance Company

Web Site:

www.nodakmutual.com

Address

Street Address:

1101 1st Ave N

City:

Fargo

State:

ZIP Code:

58102