Income Pay Pro
North American Company
5%
Best Cap
10%
Free W/D
50
States
Income Pay Pro is a fixed index annuity designed to provide guaranteed lifetime retirement income while protecting your principal from market downturns. It's ideal for people nearing or in retirement who want predictable income combined with growth potential.
Free Withdrawal
10%/yr
Available In
50 states
Min Premium
$20,000
Surrender
10 years
Current Rates & Strategies
| Index | Crediting | Cap | Participation | Fixed |
|---|---|---|---|---|
| Barclays Transitions 12% Index | 2-Year | -- | 75% | -- |
| Barclays Transitions 12% Index | Annual | -- | 50% | -- |
| Barclays Transitions 6% Index | 2-Year | -- | 150% | -- |
| Barclays Transitions 6% Index | Annual | -- | 100% | -- |
| Fidelity Multifactor Yield Index 5% ER | 2-Year | -- | 155% | -- |
| Fidelity Multifactor Yield Index 5% ER | Annual | -- | 105% | -- |
| Goldman Sachs Equity TimeX Index | 2-Year | -- | 80% | -- |
| Goldman Sachs Equity TimeX Index | Annual | -- | 55% | -- |
| Morgan Stanley Dynamic Global Index | 2-Year | -- | 155% | -- |
| Morgan Stanley Dynamic Global Index | Annual | -- | 110% | -- |
| S&P 500 Index | 2-Year | -- | 35% | -- |
| S&P 500 Index | Annual | 5% | 100% | -- |
| S&P 500 Index | Monthly | 1.85% | 100% | -- |
| S&P MARC 5% Excess Return | 2-Year | -- | 145% | -- |
| S&P MARC 5% Excess Return | Annual | -- | 100% | -- |
| Fixed Account | Daily | -- | -- | 2.5% |
Key Features
Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider
1.15% annual rider chargeEmbedded rider that generates guaranteed lifetime payment amounts (LPAs) without surrender charges, even if your account value reaches zero
GLWB Roll-Up Rate
8.00% guaranteed annual growthYour guaranteed income base grows by 8% annually for up to 10 years before you start taking payments, increasing your lifetime income potential
Penalty-Free Withdrawals
10% annual accessAccess up to 10% of your beginning-of-year account value each year without surrender charges
Indexed and Fixed Account Options
8+ index options availableChoose from multiple crediting strategies including S&P 500, multi-asset indices, and volatility-managed options to potentially increase growth
LPA Reserve
Flexible accumulation up to maximum reserveTake less than your full income payment in any year and accumulate unused amounts for large lump-sum withdrawals when needed
Nursing Home Multiplier
2x income multiplier for 5 years maxDouble your lifetime income for up to 5 years if you're confined to qualified care, helping cover long-term care costs
Tax-Deferred Growth
Tax deferral until withdrawalYour annuity grows without annual tax liability, allowing more to compound over time before withdrawals
Minimum Premium
$20,000 at issueAccessible entry point for fixed index annuity with guaranteed income benefits
Highlights
Guaranteed lifetime income you can't outlive, starting as early as age 50
Growth potential through fixed and indexed account options with no downside market risk to your premium
Flexibility to customize income through level or increasing payment options and an LPA reserve for unexpected expenses
Nursing home multiplier doubles your income for up to 5 years if you need qualified care
Spousal continuance allows your spouse to continue receiving benefits after your death
Surrender Schedule
Yr 1
10%
Yr 2
10%
Yr 3
9%
Yr 4
9%
Yr 5
8%
Yr 6
8%
Yr 7
7%
Yr 8
6%
Yr 9
4%
Yr 10
2%
After
0%
RMD waiver
Best For
Retirees and near-retirees (ages 40-79) who want guaranteed lifetime income, protection from market losses, and flexibility in how they access their money.
Consider Alternatives If
Investors who need immediate access to large portions of their money, those in poor health with limited life expectancy, or anyone unable to commit funds for the long term due to surrender charges.
Carrier Ratings
Free Comparison Report
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See year-by-year projections for your specific age, premium, and income goals.
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