NWL Ultra Value
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Highlights
The NWL Ultra Value 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.
Available in states:
AL, AK, AZ, AR, CA, CO, CT, DC, FL, GA, GU, HI, ID, IA, KS, KY, LA, ME, MD, MI, MS, MO, MT, NE, NV, NH, NM, NC, ND, OH, OK, PR, RI, SC, SD, TN, TX, VT, VI, VA, WV, WI, and WY
|
Type
|
Fixed Index |
|---|---|
| Purpose | Lifetime Income |
|
Premium Bonus
|
2% |
|
Term
|
9 Years |
|
Surrender schedule
|
9.25%8.25%7.25%6.25%5%4%3%2%1% |
|
Free withdrawal
|
10% |
| Flexible premium | Product Life |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Minimum contribution
|
Qualified: $2,000 Non-Qualified: $5,000 |
|
Maximum contribution
|
$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 Ultra Value 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 non-indexed 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 non-indexed interest rate until the next Policy Anniversary.
Withdrawal Provisions
Annuitization
You may elect to receive the Contract Value under an Income Settlement Option on the Annuity Date. You may choose an Annuity Date that occurs as early as the end of the 5th Policy Anniversary. At this time you may elect to receive payments under one of the many available options, including but not limited to:
- Income for a specific number of years (minimum of 5), or
- Income for as long as you live, or
- Income for as long as you and your Joint Annuitant live.
Free Withdrawals
10% Account Value once annually INCLUDING the 1st policy year - or Systematic withdrawal of interest after 1st policy year, or Required Minimum Distribution in all policy years
Systematic Withdrawal
Systematic Withdrawal of Interest Only is also available after the first policy year.
Minimum Distributions
If you have reached the age of 72 ½, you may need to begin taking Required Minimum Distributions (RMD) if your NWL Ultra Value annuity is issued as a tax-qualified plan. Beginning in the first Policy Year, the RMD may be taken penalty-free.
Loan Provision
Starting the 2nd Policy Month, a policy loan for a minimum of $500 may be taken for up to 60% of the Contract Value (greater of the Account Value plus any Vested Bonus Value, or the Minimum Guaranteed Contract Value) if the Interest Credit Allocation Percentage for Interest Credit Option B is 100%. (In Vermont and Virginia the loan privilege is Endorsement Form 01-4087P-VA. Starting the 4th Policy Year, a policy loan may be taken for up to 100% of the Cash Surrender Value if the Interest Credit Allocation Percentage for Interest Credit Option B is 100%.)
Loans are not available if Interest Credit Option A, D, J, or K is in effect. In addition, any loan would have to be repaid before Interest Credit Option A, D, J, or K could be elected. All or part of a loan may be repaid at any time, but each payment must be at least $25. The interest on the loan must be paid annually at 7.4% in advance. If not, the interest will be added to the amount of the loan. Also, cash loans are not available for IRAs or Roth IRAs or for some other qualified plans.
If any loan amount is owed to us when a settlement option is elected or upon the Annuitant’s death, whichever occurs first, such amount will be treated as a partial withdrawal and subject to withdrawal charges.
Loans are not available if Interest Credit Option A, D, J, or K is in effect. In addition, any loan would have to be repaid before Interest Credit Option A, D, J, or K could be elected. All or part of a loan may be repaid at any time, but each payment must be at least $25. The interest on the loan must be paid annually at 7.4% in advance. If not, the interest will be added to the amount of the loan. Also, cash loans are not available for IRAs or Roth IRAs or for some other qualified plans.
If any loan amount is owed to us when a settlement option is elected or upon the Annuitant’s death, whichever occurs first, such amount will be treated as a partial withdrawal and subject to withdrawal charges.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 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
|
67%
Participation
|
| Option U: 1-Year S&P 500 LV DRC 5% ER PTP Participation Rate |
Point to Point
Annual
|
128%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
|---|---|---|---|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
| 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) |
Waivers
No Waivers for NWL Ultra Value annuity.
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