S&P Global Ratings has affirmed the A+ (strong) financial strength rating for Sammons® Financial Group, Inc. (SFG) and its member companies, Midland National® Life Insurance Company and North American Company for Life and Health Insurance®, and maintained its stable outlook for the companies.
North American Company for Life and Health Insurance® has been affirmed as a Better Business Bureau (BBB) accredited business with an A+ BBB rating.
Sammons® Financial Group Member Companies (SFG) recently donated $20,000 to support the South Dakota Department of Veterans Affairs’ Veterans Honored Interment (VHI) project. The funds will be used to purchase much needed tools used by veterans to construct burial vessels for qualifying veterans. In addition, the donation will help coordinate efforts to partner with other states to create similar programs outside South Dakota.
Sammons® Financial Group, Inc. (SFG) is pleased to announce the recent hiring of Jill Esser as vice president, annuity product development. Esser will be responsible for all aspects of the fixed and fixed indexed annuity product development and pricing, working with both Sammons Independent Annuity Group and Sammons Institutional Group.
North American Company for Life and Health Insurance Launches New Premium Deposit Agreement (PDA) for Single Life Indexed Universal Life Insurance Products
North American Company for Life and Health Insurance® launched a new Premium Deposit Agreement (Agreement) for most single life Indexed Universal Life products. The new feature allows the policyowner to submit a lump sum and creates a Premium Deposit Account (PDA) for the purpose of automatically funding future annual premium payments on the policy. This provides many potential benefits including worry-free premium payments, opportunity for growth, and helping avoid creating a Modified Endowment Contract (MEC).