NWL ChoiceOptimizer 5 (CA Only)
Highlights
It is a single premium annuity, meaning that you pay a one-time premium payment.
It is a Fixed Indexed Annuity, meaning that the value is subject to fixed minimum guarantees, and will never decline due to index movement alone.
All guarantees are subject to the claims-paying ability and financial strength of the issuing insurance company
Type
|
Fixed Index |
---|---|
Purpose | Accumulation |
Term
|
5 Years |
Surrender schedule
|
8%7%6%5%4% |
Free withdrawal
|
1st year: 0% 2nd+ year: 5% |
Market value adjustment
|
|
Return of premium
|
|
Minimum contribution
|
$25,000 |
Maximum contribution
|
$1,500,000 |
Max Age Qualified
|
85 |
Types of funds
|
Non-Qualified, IRA, Spousal IRA, SEP IRA, IRA-Roth, and NQ Stretch |
Brochure
|
Open brochure |
Find out if the NWL ChoiceOptimizer 5 (CA Only) is the right product for you.
Premium Notes
Withdrawal Provisions
- Free Withdrawals: Withdraw up to 5% of the Account Value each Policy Year (following the first year).
- Take a systematic withdrawal of interest earnings each Policy Year after the first, as long as each payment is at least $100 and does not invade the principal. The systematic payments may be paid monthly, quarterly, semi-annually or annually.
- IRA Required Minimum Distributions (RMDs), if applicable, in all Policy Years.
You may withdraw part of your Contract Value at any time, over the Free Withdrawal amount. A Withdrawal Charge will apply.
Settlement Options
You may elect to receive the contract value as series of payments, referred to as settlement options, beginning on the annuity date.
The settlement options that may be elected by the owner include:
- Income for life
- lifetime income with a guarantee period
- lifetime income with installment refund
- Survivorship Annuity
- Monthly Income for a fixed period
- Annual income for a fixed period
- Proceeds held at interest only
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Fixed Account |
Fixed
|
3.25%
Fixed
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.8%
Cap
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
23%
Participation
|
1-Year S&P 500 PTP Monthly Average Participation Rate |
Point to Point
Annual
Monthly average
|
52%
Participation
|
1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
1.9%
Cap
|
1-Year S&P 500 LV DRC 5% ER PTP Participation Rate |
Point to Point
Annual
|
136%
Participation
|
2-Year S&P 500 LV DRC 8% ER PTP Participation Rate |
Point to Point
Biennial
|
109%
Participation
|
1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
7.2%
Performance triggered
|
1-Year Fixed Account |
Fixed
|
3.5%
Fixed
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9.35%
Cap
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
26%
Participation
|
1-Year S&P 500 PTP Monthly Average Participation Rate |
Point to Point
Annual
Monthly average
|
57%
Participation
|
1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.05%
Cap
|
1-Year S&P 500 LV DRC 5% ER PTP Participation Rate |
Point to Point
Annual
|
146%
Participation
|
2-Year S&P 500 LV DRC 8% ER PTP Participation Rate |
Point to Point
Biennial
|
117%
Participation
|
1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
7.45%
Performance triggered
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 |
---|---|---|---|---|---|
Penalty | 8% | 7% | 6% | 5% | 4% |
Riders
No Riders for NWL ChoiceOptimizer 5 (CA Only) annuity.
Waivers
Hospital
You may withdraw 100% of the Account Value after certain medically necessary stays, as outlined in the Policy. The Annuitant must be 75 years or younger on the Policy Date, and each stay must be for at least 90 consecutive days. The stay must be in a hospital and/or nursing facility (as defined in the Policy), and the Annuitant must receive at least intermediate care (as described in the Policy) for 90 consecutive days during the stay. The stay must begin after the Policy Date. Benefit terms and/or benefit availability may vary by state. See the Policy for complete details and requirements.
Nursing Home
You may withdraw 100% of the Account Value after certain medically necessary stays, as outlined in the Policy. The Annuitant must be 75 years or younger on the Policy Date, and each stay must be for at least 90 consecutive days. The stay must be in a hospital and/or nursing facility (as defined in the Policy), and the Annuitant must receive at least intermediate care (as described in the Policy) for 90 consecutive days during the stay. The stay must begin after the Policy Date. Benefit terms and/or benefit availability may vary by state. See the Policy for complete details and requirements.
Terminal Illness
Upon receiving satisfactory documentation, Withdrawal Charges will be waived for full surrender or partial withdrawal if the Annuitant is first diagnosed after the Policy Date with an illness or injury from which he or she is not expected to recover and is expected to die within twelve (12) months. National Western Life reserves the right to obtain a second medical opinion at the Company’s expense. Benefit terms and/or benefit availability may vary by state. See the Policy for complete details and requirements.
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