Product Details
Product Name
NWL IMPACT 7®
Annuity Type
FIA
Issuing Insurance Company and Ratings
National Western Life
Ratings
A.M. Best
A-
4th of 15
Standard & Poor's
A-
7th of 22
Fitch
N/A
N/A
Product Information
National Western Life’s NWL IMPACT 7® is a Flexible Premium Deferred Annuity with a 7 Year Surrender Charge Period.
Key Features
Premium Types: Flexible for Life of the Product
Minimum Premium: Non-Qual: 5,000, Qualified: 2,000
Maximum Premium: 1,500,000
Free Look Period: 30 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: Fixed Rate 1 Year
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%
Effective Date: 04/03/2024
Next Change: N/A
Initial Guarantee Period: Fixed Rate 1 Year
Premium Amount: Non-Qual: 5,000, Qualified: 2,000 - 1,500,000
Current
1 Year Guarantee Period Annual Yield:
3.15%
Interest rate start of year 1 through end of year 1:
3.15%
Accumulation Value (assuming no withdrawals)
Accumulation Value (assuming no withdrawals)
Deposit Amount: $
Premium Amount: $100,000 - See Notes (Low-Band)
Each premium payment in the first Policy Year receives a premium Bonus Percentage of 5%, subject to a 10 Year Vesting Schedule.
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 CA CT DE FL GU ID IN MA MN NJ NV NY OH OK OR PA SC TX 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: No
Eligibility & Restrictions
Age Limits(Owner and Annuitant): Owner: 85, Annuitant: 80
Premium Limits: Each premium payment in the first Policy Year receives a premium Bonus Percentage of 5%, subject to a 10 Year Vesting Schedule.
State Restrictions: Not available in AK CA CT DE FL GU ID IN MA MN NJ NV NY OH OK OR PA SC TX UT WA