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Daily Coverage

Long-Term Care Insurance policies pay a daily amount towards home care, assisted living, or nursing home. Home care is the most common claim, with 75% of claims starting at home.

Plan Duration

Average claim: 2.9 years. Assuming you don’t have a crystal ball, you don’t know how long you’ll need Long Term Care for. The chance of needing Long Term Care is 1 in 2, but the chance of needing it for over five years is much smaller. Like any insurance, you may buy this and never use it, so finding a balance is key.

Return of Premium

Add this option and you’ll be able to leave your beneficiary the total sum of all of your premiums paid, less any claims you’ve made. If the thought of buying this and never using it bothers you, guarantee a return of funds with Return of Premium.

Home Health Care on Day 1

Coverage for care at home is available with no waiting period. This 10-15% extra option is the most popular add-on rider.

Shared Coverage

Women make longer claims than men, on average. Hedge your risk with your spouse by adding a Shared Care rider to your policy.

Inflation Protection

If you're buying this thinking of using in the future, include inflation protection.

NWL Future Assurance Annuity

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National Western Life’s Future Assurance is a fixed annuity that has a one year fixed rate and a 15-year surrender charge period. The annuity is a flexible premium deferred fixed annuity. The product offers a 10% bonus on premiums that are received in the first years of the contract. The first year has a guaranteed first year interest of 1.95% and a premium bonus of 10%. These add up to a guaranteed 12.145% total interest rate for the first year of the contract. After the first year, the annuity’s rate of interest will be renewed for subsequent years and is guaranteed to never fall below 1.00%.

The premium bonus rates are 10%, 4.75%, 4.75%, 4.75% and 4.75% for year 1 through 5.

NWL Future Assurance Features

Minimum and maximum premiums

The minimum single premium for this annuity is $5,000 while the maximum single premium is $1,500,000. Flexible premiums are allowed with the NWL Future Assurance Annuity over the entire product life. The minimum and maximum single premium amounts apply equally under the qualified and unqualified status. There is also the possibility of a payroll deduction up to $100 and a minimum added premium of $100.

The annuity also provides for market value adjustment and free 20 day lookup period and a 45 day rate lock protection period.  This may however vary by state.

Issue age

The NWL Future Assurance annuity is issued to people aged between 0-85 years for the policy owner. Annuitants have an age restriction band ranging between 0 and 80 years. The age restriction for annuitization stands at 95 years. Several states have slight differences.

Free withdrawals

This annuity allows policy holders to make 1 free withdrawal per policy year each limited to a maximum 10% the value of the annuity. The withdrawal is based on accumulation. Holders can also withdraw the interest amount only if they wish to. This is however only available after 1 year.

Above the 10% free withdrawal amount, additional withdrawals will be charged for early withdrawals. The charges start at 19.25% for the first years and reduce gradually as follows: 18.50%, 17.75%, 16.75%, 16.00%, 15.25%, 14.50%, 13.50% and 12.75%, 12.00%, 10.00%, 8.00%, 6.00%, 4.00% and 2.00% for the fifteenth year. The minimum amount for the free withdrawal is $500 and the account must remain with at least $2,000. Slight differences apply with specific states.


The annuitization option is not available in all states. Annuitants have three annuitization options available to them. These are period certain payments, lifetime income equal payments and lifetime income as long as the joint owners live. A guaranteed 1.25% rate of interest will be used to calculate payments.

Systematic withdrawals

Systematic withdrawals are available with the NWL Future Assurance annuity. These can only be done on a monthly, quarterly, semi-annual, or annual basis. The minimum amount that can be withdrawn is $100 while the minimum account value is $2,000.

Death benefit

The death benefit will be paid to the named beneficiary. If the death occurs before the maturity date, the beneficiary receives a lump sum of the accumulated amount or as they may elect under one of the settlement options.  The benefit could pass without any delays and probate costs.

State specific

This product was not available in AK AL CT DE IL IN MA MN MS NJ NV NY OR PA SC UT WA as of March 1, 2017

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NWL Ultra Future Annuity

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