NWL Impact
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Highlights
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
|
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% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
| Flexible premium | Product Life |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Minimum contribution
|
Qualified: $2,000 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 |
Brochure
|
Open brochure |
Find out if the NWL Impact is the right product for you.
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.
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.
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