Rollup Rates on the Rise
National Western Life Insurance Company (NWL®) has increased the interest rate (sometimes referred to as a rollup rate) to 5% on its Income Outlook and Income Outlook Plus 5 Guaranteed Withdrawal Benefit Riders.
“This increased rollup rate solidifies our leadership position in solves for early income and extends our ability to provide competitive guaranteed income in the mid-term. This rollup increase combined with our recent announcement of a contractual minimum guaranteed renewal rate of 70% on our low volatility index, Option U, puts us squarely in our competitive wheelhouse.” said R. Bruce Wallace, CLU, NWL’s Senior Vice President and Chief Marketing Officer. “Beyond the rollup rate, both income riders have unique design elements meeting a variety of consumer needs.”
“NWL preserved its guaranteed rates of withdrawal when the industry made adjustments for improved mortality. Those withdrawal rates, the 5% interest rate and the flexible premium nature of our products make NWL an ideal outlet for IRA business with ongoing contributions.” – Paul Garofoli, FLMI, and Vice President of Annuity Sales
While the initial guarantee period for both riders is 10 years, a restart provision can be exercised every 5 years to extend the accumulation period of the Withdrawal Payment Base for another 10 years.
National Western Life’s Annuity products and riders are available through a network of select independent agents and agencies. For more information, licensed insurance professionals are encouraged to contact their local National Western Life distributor or view www.nationalwesternlife.com (product and rider terms and availability may vary by state).
About National Western Life:
National Western Life Insurance Company (NWLIC) is a wholly owned subsidiary of National Western Life Group, Inc. (Nasdaq: NWLI). Founded in 1956, NWLIC is a stock life insurance company offering a broad portfolio of individual universal life, whole life and term insurance plans, as well as annuity products. NWLIC has 275 employees and approximately 25,200 contracted independent agents, brokers, and consultants. At December 31, 2018, the Company maintained consolidated total assets of $11.9 billion, stockholders’ equity of $1.9 billion, and life insurance inforce of $18.6 billion.
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