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Fixed Indexed Annuity

Income Pay Pro

North American Company

5%

Best Cap

10%

Free W/D

50

Jurisdictions

Product data status: May 29, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Live product data

Rates as of May 29, 2026, based on the latest AdvisorWorld scan of CANNEX data.

GLWB lifetime payout rate

5.5% lifetime payout

A ten-year-surrender fixed indexed annuity from an A+ rated North American with a real optional Guaranteed Lifetime Withdrawal Benefit rider available in Level Income and Increasing Income flavors, a published annual free-withdrawal allowance, and a mixed S&P 500 cap and proprietary-index participation menu under the rider.

1.15% annual rider feeRMD-friendly income ridersAdvisorWorld + CANNEX data

Best fit

Buyers committing to a ten-year surrender who want a contractually published lifetime-income payout rate from a real optional GLWB rider — with a choice between flat (Level) and step-up (Increasing) income designs — backed by an A+ rated carrier.

AM Best

A+ Superior

Surrender period

10 years

Free withdrawal

10%/yr

Availability

50 jurisdictions (excl. New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

1.85% cap rate

S&P 500

S&P 500 Index

5% cap rate

S&P 500

S&P 500 Index

25% participation rate

S&P 500

S&P 500 Index

35% participation rate

Fixed Account

Fixed Account

2.5% declared rate

+ 12 volatility-controlled index options (S&P MARC, Fidelity Multifactor, Morgan Stanley...)

Lifetime Income Riders

Income rider

Guaranteed Withdrawal Benefit - Option 1/ Income

RMD friendly
Lifetime payout rate5.5% lifetime payout
Annual rider fee1.15% annual rider fee

Income rider

Guaranteed Withdrawal Benefit - Option 2/ Increasing Income

RMD friendly
Lifetime payout rate4.8% lifetime payout
Annual rider fee1.15% annual rider fee

Product analyst notes

How to think about this contract

Why it can stand out

  • Lifetime income comes via a real optional Guaranteed Lifetime Withdrawal Benefit rider in two distinct designs — a Level Income variant and an Increasing Income variant — so buyers can choose between a flat lifetime payout and a payout that steps up with index-linked credits.
  • A published annual free-withdrawal allowance is shown on the page alongside the full ten-year surrender ladder, so the schedule of penalty-free liquidity inside the income contract is visible rather than gated behind a sales brochure.
  • Carrier financial-strength is rated by more than one agency on this page, so the strength view sitting behind the lifetime-income guarantee is not a single-source read.
  • Index menu underneath the rider blends a recognizable S&P 500 annual point-to-point cap with multiple participation-rate strategies on proprietary indexes (S&P MARC, Fidelity Multifactor Yield, Morgan Stanley Dynamic Global, Goldman Sachs Equity TimeX, Barclays Transitions) — buyers can choose between like-for-like S&P comparison and higher-participation growth paths to feed the account value.

What to confirm

  • The GLWB rider carries an explicit published annual fee charged against the income base, not the account value — effective cost rises as the income base outgrows the account value, so model the rider through deferral before committing.
  • The Level Income and Increasing Income options publish meaningfully different lifetime payout rates — the Increasing Income variant starts at a lower withdrawal rate in exchange for index-linked step-ups. Compare both designs against your own income-start timeline rather than assuming the higher headline figure applies.
  • The S&P 500 annual cap underneath the rider is a real but conservative cap — the higher participation rates posted on this contract sit on proprietary volatility-controlled indexes, which look strong in absolute terms but are not directly comparable to the S&P 500 cap. Evaluate each strategy on its own merits.
  • The contract carries a ten-year surrender schedule starting in the high single digits in year one and stepping down only late in the schedule. Buyers who may need to exit the contract before electing lifetime income should price the early-exit cost against the rider value before committing principal.

Not ideal for

Buyers who need short-surrender liquidity, a rider-fee-free income mechanism (a Protected Income Value chassis), a plain MYGA-style declared rate without any optional rider, or a contract that delivers its income through built-in PIV rather than a separately-priced GLWB rider.

All crediting strategies

View rate listings (34 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Par: 110% · 1-yr

Morgan Stanley Dynamic Global Index

participation

10-yr surrender

Par: 105% · 1-yr

Fidelity Multifactor Yield Index 5% ER

participation

10-yr surrender

Par: 100% · 1-yr

S&P MARC 5% Excess Return

participation

10-yr surrender

Par: 100% · 1-yr

Barclays Transitions 6% Index

participation

10-yr surrender

Par: 55% · 1-yr

Goldman Sachs Equity TimeX Index

participation

10-yr surrender

Par: 50% · 1-yr

Barclays Transitions 12% Index

participation

10-yr surrender

Par: 25% · 1-yr

S&P 500 Index

participation

10-yr surrender

Cap: 5% · 1-yr

S&P 500 Index

cap

10-yr surrender

Fixed: 2.5% · 1-yr

Fixed Account

fixed

10-yr surrender

Cap: 1.85% · 1-yr

S&P 500 Index

monthly_sum_cap

10-yr surrender

Par: 155% · 2-yr

Fidelity Multifactor Yield Index 5% ER

participation

10-yr surrender

Par: 155% · 2-yr

Morgan Stanley Dynamic Global Index

participation

10-yr surrender

Par: 150% · 2-yr

Barclays Transitions 6% Index

participation

10-yr surrender

Par: 145% · 2-yr

S&P MARC 5% Excess Return

participation

10-yr surrender

Par: 80% · 2-yr

Goldman Sachs Equity TimeX Index

participation

10-yr surrender

Par: 75% · 2-yr

Barclays Transitions 12% Index

participation

10-yr surrender

Par: 35% · 2-yr

S&P 500 Index

participation

10-yr surrender

Par: 110% · 1-yr

Morgan Stanley Dynamic Global Index

Par: 105% · 1-yr

Fidelity Multifactor Yield Index 5% ER

Par: 100% · 1-yr

S&P MARC 5% Excess Return

Par: 100% · 1-yr

Barclays Transitions 6% Index

Par: 55% · 1-yr

Goldman Sachs Equity TimeX Index

Par: 50% · 1-yr

Barclays Transitions 12% Index

Par: 25% · 1-yr

S&P 500 Index

Cap: 5% · 1-yr

S&P 500 Index

Fixed: 2.5% · 1-yr

Fixed Account

Cap: 1.85% · 1-yr

S&P 500 Index

Par: 155% · 2-yr

Fidelity Multifactor Yield Index 5% ER

Par: 155% · 2-yr

Morgan Stanley Dynamic Global Index

Par: 150% · 2-yr

Barclays Transitions 6% Index

Par: 145% · 2-yr

S&P MARC 5% Excess Return

Par: 80% · 2-yr

Goldman Sachs Equity TimeX Index

Par: 75% · 2-yr

Barclays Transitions 12% Index

Par: 35% · 2-yr

S&P 500 Index

Income riders

Income rider

Guaranteed Lifetime Withdrawal Benefit - Option 1/ Level Income

RMD friendly
Lifetime withdrawal rate5.5%
Annual rider fee1.15%
Withdrawal-base growthNot shown
Deferral assumed0 years
Issue age50 — 120

GLWB

Income rider

Guaranteed Lifetime Withdrawal Benefit - Option 2/ Increasing Income

RMD friendly
Lifetime withdrawal rate4.8%
Annual rider fee1.15%
Withdrawal-base growthNot shown
Deferral assumed0 years
Issue age50 — 120

GLWB

Income rider

Guaranteed Lifetime Withdrawal Benefit - Option 1/ Level Income

RMD friendly
Lifetime withdrawal rate4.5%
Annual rider fee1.15%
Withdrawal-base growthNot shown
Deferral assumed0 years
Issue age50 — 120

GLWB

Income rider

Guaranteed Lifetime Withdrawal Benefit - Option 2/ Increasing Income

RMD friendly
Lifetime withdrawal rate4%
Annual rider fee1.15%
Withdrawal-base growthNot shown
Deferral assumed0 years
Issue age50 — 120

GLWB

Key Features

Free withdrawal

10%/yr

Annual amount that may be available without surrender charges, subject to contract terms.

Surrender waivers

1

RMD waiver

Death benefit

Accumulation Value DB

Beneficiary value depends on contract terms, withdrawals, and rider elections.

Strategy guarantee

Minimum guaranteed cap: 0.25%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 0.25%

Strategy guarantee

Minimum guaranteed participation: 5.00%

Annuitization options

Single and joint

Contract conversion options should be confirmed before purchase.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

Surrender schedule

Yr 1

9%

Yr 2

8.5%

Yr 3

7.5%

Yr 4

6.5%

Yr 5

5.5%

Yr 6

4.5%

Yr 7

3.5%

Yr 8

3%

Yr 9

2%

Yr 10

1%

After

0%

RMD waiver, Surrender waivers

Documents

product guide

40641Z - Income Pay Pro brochure.pdf

Confidence: highReviewed Apr 9, 2026

Direct link not published — request the document from the carrier.

Carrier Ratings

AM BestA+
S&PA+
S&PA+

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

Income Pay Pro currently shows 17 distinct indexed or fixed crediting choices across 34 current rate listings, including S&P 500 Index, with 12 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, and renewal terms are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 1.85% cap
  • S&P 500 Index: 5% cap
  • S&P 500 Index: 25% participation

Income rider language

What to look for before treating the rider as income

Guaranteed Lifetime Withdrawal Benefit - Option 1/ Level Income is the main income-rider entry returned for this product. Rider terms can affect the tradeoff between future lifetime withdrawals, contract value, beneficiary value, and cost, so the exact state version and rider election should be confirmed before comparing it to annuitization or income-only contracts.

  • 5.5% withdrawal rate
  • 1.15% rider fee
  • RMD friendly

Liquidity terms

Why access rules deserve as much attention as rates

A fixed indexed annuity can preserve more control than an income-only contract, but access is still governed by the surrender schedule, free-withdrawal terms, and waiver language. Those details are where many product comparisons become more meaningful than a simple rate list.

  • 10%/yr free withdrawal
  • 10 surrender years
  • RMD waiver

Verification note

Use carrier materials as term evidence, then confirm the current version

Carrier materials such as 40641Z - Income Pay Pro brochure.pdf help explain the contract language behind the data on this page; the latest document activity we see is Apr 24, 2026. For the current brochure, rate sheet, or specimen contract, confirm the state-specific version with the carrier or a licensed financial professional.

  • Rates and rider terms can vary by state and issue age
  • Carrier guarantees depend on claims-paying ability
  • Current contract forms should be confirmed before purchase

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