National Western Life Lifetime Returns Solutions Life Insurance Annuity


National Western Life’s Lifetime Returns Solutions is a flexible premium life insurance policy funded by a single premium immediate life annuity. An ideal solution for leaving a legacy for an IRA or 401k beneficiary.

National Western Life’s Lifetime Returns Solutions is a flexible premium universal life insurance policy that combines the features of traditional fixed life insurance with the potential to have credited interest linked in part to the S&P 500 Composite Stock Price Index, which excludes dividends. You have the choice of four interest options that give you the advantage of selecting one or any combination of all four interest options.

With this life insured annuity, you also have the choice of either 5 Pay or 10 Pay Premium Payment Periods.

Immediate Annuity + Life Insurance Policy = Life Insurance Annuity

In order to apply for the NWL Lifetime Returns Solutions, you must also apply for National Western’s Single Premium Immediate Life Annuity.

  • The 5 and 10 pay premiums for the life insurance policy are then paid from the Single Premium Immediate Life Annuity (SPIA), which ideally should be purchased using funds from low tax basis non-qualified annuities or qualified funds.
  • Utilizing the SPIA to make the premium payments into your life insurance policy allows the taxable income from the low tax basis non-qualified annuities or qualified funds to be spread over the 5 or 10-year annuity payout term.



Let’s take a look at the unique features of the NWL Lifetime Returns Solutions that can provide the liquidity you may need later and the protection you need now.

National Western Life’s Lifetime Returns Solutions allows two premium payment options sufficient to pay for the amount of coverage (Face Amount) selected by you, with the minimum amount being $25,000. Face Amount changes are not allowed after the policy is issued, but the Face Amount may be reduced due to a Partial Surrender.

You have the option to select a Premium Payment Period of 5 Pay or 10 Pay at the time you apply for your policy. The Premium Payment Period selected may not be changed after the policy is issued. The 5 and 10 pay premiums are paid from the Single Premium Immediate Life Annuity that you are purchasing along with this life insurance policy.

  • Ages 45–85: 5 Year Payment Option
  • Ages 45-80: 10 Year Payment Option

The NWL Lifetime Returns Solutions products will provide a Death Benefit equal to the greater of the Face Amount, or the Account Balance with a percentage adjustment based on your age as of the last Policy Anniversary. The Death Benefit may be extended beyond age 121.

The Single Premium Immediate Life Annuity does not provide a Death Benefit. Only the life insurance.



Policy Surrender

Should you choose to surrender your NWL Lifetime Returns Solutions, the Cash Value is available to you on any Monthly Anniversary upon written request.

The Cash Value is the greater of the Account Balance or the Minimum Guaranteed Account Balance, less surrender charges, and outstanding loans and loan interest, if any. The surrender charges vary by sex, smoking class, issue age, and policy year.

Surrender charges are per $1,000 of Face Amount for all payment plans and apply for the number of policy years.

Partial Surrender

Partial surrenders are also available; however, the Account Balance and Face Amount will be reduced, and it may be necessary to reduce a previously allocated Index Amount. A partial surrender charge (if applicable) will be deducted from the partial surrender. The minimum partial surrender is $200 and will be limited to one per Policy Year as long as the Face Amount does not fall below the minimum amount.

Free Partial Surrender Option

A 10% Free Partial Surrender, processed without a surrender charge, may be made each Policy Year after the first. Any full surrender or partial surrender amount in excess of the Free Partial Surrender amount will be subject to a surrender charge. Free Partial Surrenders will not be accumulated.

Policy Loans

You may obtain a Loan using the Cash Value as the Loan security. The initial Loan Interest Rate for the first Policy Year will be specified in the policy. You are able to borrow from your NWL Lifetime Returns Solutions policy using a variable loan rate tied to Moody’s Corporate Bond Yield and calculated once each year. On traditional, fixed-rate life insurance, there is a Net-Cost loan because the loan interest rate charged is usually greater than the crediting rate. With NWL Lifetime Returns Solutions, it is possible to have a Net-Gain loan if the crediting rate is greater than the Loan Interest Rate charged. Variable loans have a Net-Cost or Net-Gain that is ultimately based on the difference between the interest credited to the policy and the Loan Interest charged.

A Loan will not have an effect on the crediting rate (either fixed or indexed) applicable to the Account Balance. Note: Loans may be repaid in amounts of $50 or more.


Optional Benefits and Riders

In addition to the basic protection provided by NWL Lifetime Returns Solutions, there are additional benefits and riders that are added to enhance your life plan for no additional cost of insurance charge.

Living Benefit Rider (Accelerated Benefits Rider)

The Living Benefit Rider will automatically be added to the NWL Lifetime Returns Solutions policy if approved in the state of solicitation. There is no additional cost of insurance charge for the Living Benefit Rider.

This rider provides an advance of the Death Benefit to the policy owner if the Insured is terminally ill, subject to the terms of the rider. The maximum benefit will be the lesser of $250,000 or 75% of the Death Benefit minus any outstanding policy loans and unpaid loan interest. A one-time claims processing fee of $300 will apply.

Paid Up Rider

The Paid-Up Rider will automatically be added to the NWL Lifetime Returns Solutions policy if approved in the state of solicitation. There is no additional cost of insurance charge for the Paid-Up Rider.

This rider will prevent the policy from lapsing due to the Loan Balance exceeding the Account Balance by providing a Paid-Up Face Amount of life insurance if the

  1. Loan Balance is at least 91.5% of the Account Balance;
  2. The policy has been in force for a minimum of 15 years; and
  3. The Insured’s attained age is at least 75 when the first two criteria are met.

When this rider is exercised, there will be a One Time Charge equal to the One Time Charge percentage of 8.00% multiplied by the Account Balance. The One-Time Charge will be deducted from the Account Balance before calculating the Paid-Up Face Amount.

Tax Advantages

The cash value in your NWL Lifetime Returns Solutions accumulates income tax-deferred. Subject to certain conditions, withdrawals and loans may be taken on the policy without incurring income taxes as long as the policy remains in force and results in a life insurance death benefit if the Premium Payment Period is 10 Pay. 5 Pay Premium Payment Period policies will be Modified Endowment Contracts.


The Application Process

  • Request a quote.
  • Submit an application and health questionnaire.
  • Conduct a 20-minute phone interview with a medical underwriting team.
  • Wait up to 48 hours for approval. Typically, the approval rate is high; the decline rate is low.
  • If approved for life insurance coverage, transfer the funds.
  • Each year you’ll receive a 1099 form to report the SPIA payment to the IRS.

Shop and compare life insurance quotes over 50 to find the latest rates.

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