National Western Life introduces new 10-year Fixed Indexed Annuity with an optional Guaranteed Minimum Death Benefit Rider, NWL® Capital Solutions
May 8, 2023 by National Western Life Group, Inc.
New FIA is designed to protect legacies and offers access to a proprietary J.P. Morgan Factor FocusSM Index.
AUSTIN, Texas, May 8, 2023 /PRNewswire/ — National Western Life Insurance Company (National Western Life) announced the launch of NWL® Capital Solutions, a 10-year FIA that includes an optional Guaranteed Minimum Death Benefit Rider (GMDB), exclusive access to the J.P. Morgan Factor FocusSM Index, and seven different index strategy options, including strategies linked to the Dow Jones Industrial Average.
As with other recently launched National Western Life products, NWL® Capital Solutions 10-year FIA has an all-electronic product design from sales to policy issue. Producers can submit applications electronically with NWL® e-Apps.
The addition of NWL® Capital Solutions 10-year FIA to a growing product suite serves as an important step in positioning National Western Life as a provider advisors can look to with confidence when helping their clients reach their retirement goals.
“NWL® Capital Solutions 10-year FIA provides advisors with a compelling FIA accumulation design with unique index options including the Dow Jones Industrial Average,” said Paul A. Caspers, Vice President, Head of Sales. “The 10-year design is a sound alternative for clients looking for longer-term accumulation options. The Guaranteed Minimum Death Benefit Rider can help clients achieve their legacy planning goals.”
Focusing on new product designs with competitive new and renewal rates, as well as cutting edge technology, are significant ways National Western Life is focused on changing the way business is done.
“Since 2021, we have been evolving in the way we do business to create a new National Western Life vastly different from what advisors have previously known,” said Chad J. Tope, Chief Marketing Officer and Executive Vice President. “With these changes and upcoming new enhancements to our product portfolio, National Western Life is well-positioned to remain competitive in the industry for years to come.”
The entrance of NWL® Capital Solutions into the marketplace is one more example of how National Western Life continues to meet the unique accumulation, income, and legacy planning needs of clients.
About National Western Life:
National Western Life Group, Inc. is the parent organization of National Western Life Insurance Company, which is the parent organization of Ozark National Life Insurance Company, both stock life insurance companies in aggregate offering a broad portfolio of individual universal life, whole life and term insurance plans, as well as annuity products. At December 31, 2022, the Company maintained consolidated total assets of $13.1 billion, consolidated stockholders’ equity of $2.0 billion, and combined life insurance in force of $19.7 billion.
The J.P. Morgan Factor FocusSM Index (“Index”) has been licensed to National Western Life Insurance Company (the “Licensee”) for the Licensee’s benefit. Neither the Licensee nor any National Western Life fixed indexed annuity (the “Annuity Product”) is sponsored, operated, endorsed, recommended, sold or promoted by J.P. Morgan Securities LLC (“JPMS”) or any of its affiliates (together and individually, “J.P. Morgan”). J.P. Morgan makes no representation and gives no warranty, express or implied, to purchasers of the Annuity Product nor does J.P. Morgan have any liability for any errors, omissions or interruptions of the J.P. Morgan Index. Such persons should seek appropriate professional advice before making an investment or purchasing insurance. The Index has been designed and is compiled, calculated, maintained and sponsored by J.P. Morgan without regard to the Licensee, the Annuity Product or any policyholder. J.P. Morgan is under no obligation to continue compiling, calculating, maintaining or sponsoring the Index. J.P. Morgan may independently issue or sponsor other indices or products that are similar to and may compete with the Index and the Annuity Product. J.P. Morgan may transact in assets referenced in the Index (or in financial instruments such as derivatives that reference those assets). These activities could have a positive or negative effect on the value of the Index and the Annuity Product.
The S&P 500® Index and S&P MARC 5% Index are products of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and has been licensed for use by NWL®. S&P®, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”) and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by NWL. It is not possible to invest directly in an index. NWL® Capital Solutions is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any of their respective affiliates (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of the NWL Capital Solutions or any member of the public regarding the advisability of investing in securities generally or in NWL Capital Solutions particularly or the ability of the S&P 500® Index and S&P MARC 5% Index to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices’ only relationship to NWL with respect to the S&P 500® Index and S&P MARC 5% Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500® Index and S&P MARC 5% Index is determined, composed and calculated by S&P Dow Jones Indices without regard to NWL or the NWL Capital Solutions. S&P Dow Jones Indices has no obligation to take the needs of NWL or the owners of NWL Capital Solutions into consideration in determining, composing or calculating the S&P 500® Index and S&P MARC 5% Index. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of NWL Capital Solutions. There is no assurance that investment products based on the S&P 500® Index and S&P MARC 5% Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment adviser, commodity trading advisory, commodity pool operator, broker dealer, fiduciary, promoter” (as defined in the Investment Company Act of 1940, as amended), “expert” as enumerated within 15 U.S.C. § 77k(a) or tax advisor. Inclusion of a security, commodity, crypto currency or other asset within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, commodity, crypto currency or other asset, nor is it considered to be investment advice or commodity trading advice.
NEITHER S&P DOW JONES INDICES NOR THIRD PARTY LICENSOR GUARANTEES THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500® INDEX AND S&P MARC 5% INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY NWL, OWNERS OF NWL CAPITAL SOLUTIONS, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500® INDEX AND S&P MARC 5% INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBLITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. S&P DOW JONES INDICES HAS NOT REVIEWED, PREPARED AND/OR CERTIFIED ANY PORTION OF, NOR DOES S&P DOW JONES INDICES HAVE ANY CONTROL OVER, THE LICENSEE PRODUCT REGISTRATION STATEMENT, PROSPECTUS OR OTHER OFFERING MATERIALS. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND NWL, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.
Release Contact: Chad J. Tope
Executive Vice President, Chief Marketing Officer
ctope@nwlic.com
800-760-3434, ext. 206
www.nationalwesternlife.com
SOURCE National Western Life Insurance Company
