Product Details
Product Name
NWL® Pro Dynamic
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
The NWL® Pro Dynamic is a flexible premium deferred annuity with a 10 year withdrawal charge period and multiple interest options available (some with charge). It is a long-term contract intended as a secure planning vehicle for retirement accumulation and income. The NWL® Pro Dynamic provides the important benefits of many tax deferred annuities: interest accumulation, safety, tax-deferral, and liquidity. At the end of the 10-year Contract Term, you may withdraw the full Contract Value or take a partial withdrawal without any Withdrawal Charges. You do have the right to keep the Contract 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: 10,000
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: 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: 10,000 - 500,000
Current
1 Year Guarantee Period Annual Yield:
2.1%
Interest rate start of year 1 through end of year 1:
2.1%
Accumulation Value (assuming no withdrawals)
Accumulation Value (assuming no withdrawals)
Deposit Amount: $
Premium Amount: $100,000 - See Notes (Low-Band)
Non-Qual: Min Single Premium: 10,000, Min Flexible Premium: 100, Additional Premium: 100, Max Premium: 500,000; Qualified: Min Single Premium: 5,000, Min Flexible Premium: 100, Additional Premium: 100, Max Premium: 500,000
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
AK, CA, CT, DE, FL, IA, IL, IN, MA, MN, NJ, NV, 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: $100
Cumulative Free Withdrawl: 50%
Eligibility & Restrictions
Age Limits(Owner and Annuitant): Owner: 90, Annuitant: 90
Premium Limits: Non-Qual: Min Single Premium: 10,000, Min Flexible Premium: 100, Additional Premium: 100, Max Premium: 500,000; Qualified: Min Single Premium: 5,000, Min Flexible Premium: 100, Additional Premium: 100, Max Premium: 500,000
State Restrictions: Not available in GU, NY, PR, VI, VT