Fixed index annuity review and rates

NWL Ultra Classic

The NWL Ultra Classic Annuity is a flexible premium tax-deferred annuity that combines the safety, benefits, and features of traditional fixed interest deferred annuities while at the same time giving you the option of having your credited interest linked in part to the S&P 500 Composite Stock Index (which excludes dividends).Once credited, your gains are guaranteed for the life of the policy!. 

At the end of the 13-year Contract Term, you may withdraw the full Contract Value without any withdrawal charges, take a partial withdrawal, or elect an income settlement option. 

You do have the right to keep the Account Value with National Western Life for the rest of your life where it will continue to earn interest at a rate not less than the Minimum Guaranteed Interest Rate that has been re-determined at the end of your Contract Term.
Available in states: AZ, AR, CA, CO, DC, FL, GA, HI, IA, KS, KY, LA, ME, MD, MI, MO, NE, NH, NM, NC, ND, OH, OK, PR, RI, SD, TN, TX, VT, VI, VA, WV, WI, and WY

Allocation Accounts

Name Type Rates
Option U: 1-Year S&P 500 LV DRC 5% ER PTP Participation Rate
NWL Option U
170% Participation
Option J: 1-Year S&P 500 PTP Cap
NWL Option J
8% Cap
Option B: 1-Year Fixed Account
4.5% Fixed
Option A: 1-Year S&P 500 PTP Monthly Average Participation Rate with Asset Fee
Point to Point
Monthly average
100% Participation
6% Spread

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10 11 12 13
Penalty 15% 15% 14% 13% 12% 11% 11% 10% 9% 8% 6% 4% 2%


Name Inbuilt Fee
Income Outlook Plus 5 NH (Withdrawal Benefit Rider) No 1.50% annually (2.00% max)
Income Outlook NH No 1.00% annually (2.00% max) (limited to interest)
National Western Life Insurance Company
Founded: 1956
A.M. Best: A
S&P: A
Carrier details
Free withdrawal
1st year: 0%
2nd+ year: 10%
Surrender schedule
13 years
Return of premium
Market value adjustment
Minimum contribution
Qualified: $2,000
Non-Qualified: 500000%
Types of funds
Non-Qualified, 401k, Profit Sharing, IRA, 401a, TSA 403b, SEP IRA, KEOGH, IRA-Roth, 457 plan, and 1035 Exchange