NORTH AMERICAN COMPANY FOR LIFE
AM Best Grade: A+ (Superior) 5 stars
Address: 525 W. Van Buren St. #1300, Chicago, IL 60607
Also known as: North American Co. for Life and Health Insurance
North American Company for Life was founded as North American Accident Association in 1886, the company was then purchased by A.E. Forrest in 1890 for $2,000. In 1918, North American was the first company that offered disability insurance for women. The company entered the brokerage market in 1981, and offered it’s first Universal Life product in 1982. North American was acquired by Sammons Financial Group, a company that offers life insurance, annuities, and mutual funds in 1996. The company has maintained financial stability throughout two world wars as well as the Great Depression, they celebrated their 125th anniversary in 2011.
North American Company for life is a privately held company that currently holds about 530,000 life insurance and annuity policies. As of 2014, they have over $16 billion dollars of assets under management. North American ranked was number 81 on Forbes’ List of America’s Largest Privately Owned Companies, this list is composed of 221 companies with annual sales that exceed $2 billion dollars.
By Jason Dana, September, 2015