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Product Details
NWL Ultra Classic®
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Product Name
NWL Ultra Classic®
Annuity Type
FIA
Issuing Insurance Company and Ratings
National Western Life
Ratings
Product Information
The NWL Ultra Classic® Annuity is a flexible premium tax-deferred annuity with a 13 Year Surrender Charge Period. The NWL Ultra Classic® 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! At the end of the 13 Year Contract Term, you may withdraw the full Contract Value without any withdrawal charges, take a partial withdrawal, or elect an income settlement option. You do have the right to keep the Account Value with National Western Life for the rest of your life where it will continue to earn interest at a rate not less than the Minimum Guaranteed Interest Rate that has been re-determined at the end of your Contract Term.
Key Features
Premium Types: Flexible for Life of the Product
Minimum Premium: 5,000
Maximum Premium: 500,000
Free Look Period: 20 Days
Rate Lock Period: N/A
Tax-Qualified: IRA, 401k, KEOGH, Other, NonQual, Pension, TSA 403b, IRA-Roth, IRA-Simple, IRA Rollover, Profit Sharing
Rates
Effective Date: 04/03/2024
Initial Guarantee Period: N/A
Next Change: N/A
Premium Amount: $100,000 - See Notes (High-Band)
3 Year Guarantee Period Annual Yield:
Interest rate start of year 1 through end of year 3:
Current
4.05%
4.05%
Premium Amount: 5,000 - 500,000
Current
0 Year Guarantee Period Annual Yield:
4.5%
Interest rate start of year 1 through end of year 0:
4.5%
Accumulation Value (assuming no withdrawals)
Accumulation Value (assuming no withdrawals)
Deposit Amount: $
Premium Amount: $100,000 - See Notes (Low-Band)
The Initial Premium includes payments up to 20 days from issue. After that you may add premium payments of at least $100 at any time, which will earn a non-indexed fixed interest rate until the next Policy Anniversary when those premiums and the interest earned will be added to the Account Value (defined below) for crediting under the Interest Credit Option selected for the next Policy Year.
Interest rate start of year 1 through end of year 3:
Current
4.05%
4.05%
Accumulation Value (assuming no withdrawals)
Deposit Amount: $
State Approvals
Not available in AK AL CT DE ID IL IN MA MN MS MT NJ NV NY OR PA SC UT WA
Withdrawal Provisions
First Year Withdrawals: No
Withdrawal Years 2+: 10%
Wait Period Interest Only : 1 Year
Withdraw from the accumulation Value After : One Year
Minimum Policy Value : $2,000
Withdrawl Calculated On: Accumulation
Date For Calculation: Issue
Systematic Withdrawl: Yes
Min Withdrawl Amount: $500
Cumulative Free Withdrawl: 50%
Eligibility & Restrictions
Age Limits(Owner and Annuitant): Non-Qual: Owner: 85, Annuitant: 80; Qualified: Owner: 85, Annuitant: 80
Premium Limits: The Initial Premium includes payments up to 20 days from issue. After that you may add premium payments of at least $100 at any time, which will earn a non-indexed fixed interest rate until the next Policy Anniversary when those premiums and the interest earned will be added to the Account Value (defined below) for crediting under the Interest Credit Option selected for the next Policy Year.
State Restrictions: FL: Issue Age 85 for both Owner and Annuitant. TX: Issue Age 57 Non-Q & Qualified; Owner 0-85 Non-Qualified and Qualified (if different than annuitant) CA & OH: Issue Age 56 Non-Q & Qualified; Owner 0-85 Non-Qualified and Qualified (if different than annuitant) Max issue age is 57 in TX Max issue age is 56 in CA, OH
