Product Details
Product Name
NWL IMPACT
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 is a Flexible Premium Deferred Annuity with a 8 Year Surrender Charge Period. The NWL IMPACT is a long–term contract intended as a secure planning vehicle for retirement accumulation and income. The annuity provides the important benefits of many tax deferred annuities: interest accumulation, safety, tax-deferral, and liquidity.
Key Features
Premium Types: Flexible for Life of the Product
Minimum Premium: Min Single Premium: 5,000 (Non-Qual), 2,000 (Qualified); Min Flexible Premium: 100
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: Min Single Premium: 5,000 (Non-Qual), 2,000 (Qualified); Min Flexible Premium: 100 - 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
N/A
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: Only available in CA