The Score Newsletter for July 10, 2017
New Illustration Software is Here! National Western Life is pleased to announce that all of our UL products are now available to illustrate online through Winflex Web! We are working to add Term and Annuity illustrations to Winflex Web and we’ll continue to support the downloadable version of the illustration software while we complete the transition to Winflex.
The new software is NOW AVAILABLE! Log in to MyNWL to access the new WINFLEX web software.
WBR Changes Coming Soon! Due to continued regulatory requirements affecting annuity income riders, NWL® will be implementing changes to the Income Outlook and Income Outlook Plus 5 Withdrawal Benefit Riders effective with applications received on or after August 4, 2017.
Changes to the existing terms of the riders are as follows:
|Income Outlook||Income Outlook Plus 5|
|Initial Roll-Up Rate||No Change – 3.00%||Decreased from 4.00% to 3.00%|
|Current Annual Rider Charge Rate||No Change – 1.00%||No Change – 1.50%|
|Maximum Annual Rider Charge Rate||Increasing from 1.00% to 2.00%||Increasing from 1.50% to 2.00%|
In addition, the following benefits have been added:
After a 1 year Income Waiting Period, the Withdrawal Payment can be elected on any Policy Anniversary or Policy Monthiversary (any month on the same day as the Policy Date)!
A new Nursing Home Confinement provision will now be automatically included with both riders! The Maximum Guaranteed Annual Withdrawal Payments (MGAWP) can be doubled, for up to 5 years if the annuitant is confined to a nursing home for at least 90 days.
For more important details on the changes,click here.