The United States-based life insurance company, National Western Life Insurance Company (NWLIC) has recently announced the launch of two new fixed-indexed annuities (FIAs). According to a recent article from Life Insurance International, the two annuities, NWL Core Dynamic and NWL Pro Dynamic, offer both fixed rate and fixed indexed-linked interest and several optional guaranteed withdrawal benefit riders.
“The Dynamic series combines the best of all worlds the Company has to offer,” said National Western Life Insurance Company senior vice president and chief marketing officer, R. Bruce Wallace. “Protection of premium outlay is paramount, but there are a number of additional features that will be valuable to policyholders.”
A fixed-indexed annuity is a type of annuity that grows at the greater of a) an annual, guaranteed minimum rate of return; or b) the return from a specified stock market index (such as the S&P 500®), reduced by certain expenses and formulas. At the time the contract is opened, a term is chosen, which is the number of years until the principal is guaranteed and the surrender period is finished.
NWL Core Dynamic and the NWL Pro Dynamic are available through National Western Life’s network of independent distributors and advisors. The company, which was established in 1956, operates as a wholly owned subsidiary of National Western Life Group. NWLIC offers a variety of individual universal life, whole life, and term insurance plans in addition to several annuity products. As of December 31, 2017, National Western Life Group had consolidated total assets of $12.1 billion, stockholders’ equity of $1.8 billion, and life insurance in force of $19.9 billion.
Written by Rachel Summit