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.
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NWL Impact
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Ratings:
- A.M. Best A
- S&P A-
- Comdex 71
About Product
Type
Fixed Index
Purpose
Lifetime Income
Premium Bonus
5%
Term
8 Years
Surrender schedule
8%7.75%6.5%5.25%4.25%3.25%2%1%
Fee withdrawal:
10%
Flexible premium
Product Life
Market Value Adjustment
No x
Return Of Premium
No x
Minimum Contribution
Qualified: $2,000
Non-Qualified: $5,000
Non-Qualified: $5,000
Maximum Contribution
$1,500,000
Max Age Qualified
80
Types Of Funds
Non-Qualified, 401k, Profit Sharing, IRA, 401a, TSA 403b, SEP IRA, KEOGH, IRA-Roth, 457 plan, and 1035 Exchange
The NWL Impact Annuity is a flexible premium deferred annuity. It is a long–term contract intended as a secure planning vehicle for retirement accumulation and income. The NWL Impact Annuity provides the important benefits of many tax deferred annuities: interest accumulation, safety, tax-deferral, and liquidity.
Available in states:
CA
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
Premium Payment
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.
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
Free Withdrawals
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.
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.
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