NWL Ultra Value
The NWL Ultra Value Annuity is perfect for retirees! This product ensures a steady income stream, allowing a worry-free golden age with consistent revenues. An intuitive, savvy investment!
Plus, NWL Ultra Value's brilliant inflation protection feature keeps your future secure. It's comforting knowing your cash won't decline in value! A reliable partner for your retirement nest egg.
NWL Ultra Value
About Product
Non-Qualified: $5,000
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.
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 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), orIncome for as long as you live, orIncome 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.
- A.M. Best A-
- S&P A-
- Comdex 61
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