NWL Ultra Future Annuity

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Ultra Future by National Western Life is a fixed indexed annuity (FIA) with a fifteen year surrender period. The annuity is a flexible premium tax-deferred fixed annuity. The annuity provides the benefits of the common fixed interest annuities and at the same time providing annuitants with the option of linking their interest to the S&P composite stock index. This guarantees gains for the entire life of the policy.

All premium payments within the first year will earn a guaranteed interest rate of 9.00% while each payment in the subsequent second to fifth year will receive a premium bonus of 4.75%.

NWL Ultra Future Features

Premium Bonus

At the end of fifteen years, the annuitant may withdraw the contract value with no extra charges, make partial withdrawals or elect an income settlement option.

Minimum and Maximum Premiums

The minimum single premium for this annuity is $5,000 for non-qualified persons and $2,000 for qualified persons. The maximum single premium is $500,000. Flexible premiums are allowed with the NWL Ultra Future Annuity over the annuity’s life. There are also provisions for additional premiums with a minimum amount of $100.

The annuity does not for market value adjustment but provides a free 20 day lookup period.  This may however vary by state.

Issue age

The NWL Ultra Future 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.

Rider availability

There are two riders available with the Ultra Future annuity. The Income Outlook rider and the Income Outlook Plus 5. The riders are however not available in certain states.

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, 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%, 12.75%, 12.00%, 10.00%, 8.00%, 6.00%, 4.00% and 2.00% for year 15. The minimum amount for the free withdrawal is $500 and the account must remain with at least $2,000.

Market Value Adjustment

A market value adjustment will be made to the accumulation account if withdrawals are made during the first ten years. The change in the amount will depend on the prevailing interest rates.

Loan Provision

From the second month of the contract, a policy loan may be taken for a minimum of $500 and up to 60% of the accumulation account. For the loan, each repayment must be at least $25.


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 Ultra Future 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.  There is also a spousal continuation benefit where the surviving spouse becomes the annuitant and continues both the annuity and tax deferral.

State specific

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

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