NWL Impact
A subsidiary of National Western Life Group, Inc., the National Western Life Insurance Company, often abbreviated to NWLIC, was founded in 1956. The company has grown into a respected player in the insurance industry, serving well-defined market sectors with its diversity of financial solutions. Offering various individual universal life plans, term insurance, whole life policies, as well as annuities, NWLIC strives to provide financial protection for its policyholders and their loved ones.
NWL Impact
Ratings:
- A.M. Best A
- S&P A-
- Comdex 71
About Product
Non-Qualified: $5,000
Allocation Accounts
Name | Type | Rates |
---|---|---|
Option U: 1-Year S&P 500 LV DRC 5% ER PTP Participation Rate |
Point to Point
Annual
|
123%
Participation
|
Option B: 1-Year Fixed Account |
Fixed
|
3.15%
Fixed
|
Option A: 1-Year S&P 500 PTP Monthly Average Participation Rate with Asset Fee |
Point to Point
Annual
Monthly average
|
65%
Participation
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
---|---|---|---|---|---|---|---|---|
Penalty | 8% | 8% | 7% | 5% | 4% | 3% | 2% | 1% |
Riders
Name | Inbuilt | Fee |
---|---|---|
Income Outlook NH | No | 1.00% annually (2.00% max) (limited to interest) |
Waivers
Annuitization
Annuitize full Contract Value AFTER 10th policy year for a minimum of 5 years.
Premium Notes
A minimum initial premium payment of at least $2,000 (qualified) or $5,000 (non-qualified) is required. Additional premium payments of at least $100 can be made. Any premiums received more than 20 calendar days after the issue date, or after any subsequent Policy Anniversary, will earn the nonindexed fixed interest rate until the next Policy Anniversary.
Withdrawal Provisions
10% of sum of Account Value plus any Vested Bonus Value, free of withdrawal charge, once annually after 1st Policy Year, Systematic Withdrawal of Interest after 1st Policy Year, or Required Minimum Distribution in all Policy Years.
Death Benefit
Account Value plus Bonus Value if Annuitant dies before Annuity Date.
Annuitization
Annuitize full Contract Value AFTER 10th policy year for a minimum of 5 years.