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Fixed Indexed Annuity

NWL Ultra Classic

National Western Life Insurance Company

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5.75%

Best S&P 500 Annual Cap

10%

Free W/D

36

Available jurisdictions

Product data status: July 15, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Model this product

See what NWL Ultra Classic would do for you

Set your numbers and switch between growth, income, and liquidity. Index losses credit 0% — the floor — so a down market never reduces your value.

Product analyzer
Illustrative — live CANNEX rates as of July 15, 2026; not a projection or guarantee.
Crediting strategy
Compare against
$244,283
Est. value at age 80 (NWL Ultra Classic)
5.75%
Best S&P 500 1-yr point-to-point cap
S&P 500 Index — 5.75% Cap (Annual Charge Included · Annual)
✦
How crediting works: the cap limits positive index returns; a down year credits 0%, never a loss. A cap strategy tracks the index within its terms. What is a cap vs participation? →
Assumptions: illustrative — applies NWL Ultra Classic's published cap rate (5.75% on S&P 500 Index) to a standard benchmark hypothetical index path (~5.4%/yr average, including down years) with a 0% floor over 20 years. Not a projection, quote, or guarantee. Live CANNEX rates as of July 15, 2026.

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See how NWL Ultra Classic compares for your age, state, premium, and income goals alongside other National Western Life Insurance Company fixed indexed annuity options.

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Live rate data

Run live numbers for NWL Ultra Classic

Current rates, riders, crediting strategies, state availability, and contract facts stay scoped to this National Western Life Insurance Company product.

Live product data

Rates as of July 15, 2026, based on the latest AdvisorWorld scan of CANNEX data.

Optional GLWB lifetime payout rate

7% lifetime payout + 5% roll-up

A long-surrender National Western FIA combining optional lifetime income with a recognizable annual S&P 500 cap.

1% annual rider feeAdvisorWorld + CANNEX data

Best fit

Buyers prioritizing optional lifetime income who also want a plain S&P 500 cap available during deferral.

AM Best

A- Excellent

Surrender period

13 years

Free withdrawal

10%/yr

Availability

36 jurisdictions (restricted footprint)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

Annual Charge Included

5.75% cap rate

Annual cap

1-year term · 13-year surrender · Does not vary by premium

S&P 500

S&P 500 Index

monthly avg participation

67% participation rate + 0% spread

Participation

1-year term · 13-year surrender · Does not vary by premium

Fixed Account

Fixed Account

3.1% declared rate

Fixed account

1-year term · 13-year surrender · Does not vary by premium

+ 1 additional crediting option (S&P 500)

Lifetime Income Riders

Income rider

NWL Income Outlook NH

Lifetime payout rate7% lifetime payout
Annual rider fee1% annual rider fee
Guaranteed roll-up5%/yr

Income rider

NWL Income Outlook Plus 5 NH

Lifetime payout rate7% lifetime payout
Annual rider fee1.5% annual rider fee
Guaranteed roll-up5%/yr

Product analyst notes

How to think about this contract

Why it can stand out

  • The live filing offers optional lifetime-income elections alongside a recognizable S&P 500 annual point-to-point cap.
  • Nursing-home and terminal-illness waivers provide defined exceptions to the surrender schedule.

What to confirm

  • Rider fees reduce the accumulation value, and payout terms should be compared at the buyer's actual age and deferral period.
  • The Ultra Classic surrender commitment is unusually long, so ordinary liquidity needs should be planned outside the contract.

Not ideal for

Buyers needing short surrender terms, rider-free accumulation, or MYGA-style rate certainty.

Free Comparison Report

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See how NWL Ultra Classic compares for your age, state, premium, and income goals alongside other National Western Life Insurance Company fixed indexed annuity options.

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All crediting strategies

View rate listings (4 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Par: 120% + Spread: 0% · 1-yr

S&P 500 Low Volatility Daily Risk Control 5% USD Excess Return Index

participation

13-yr surrenderDoes not vary by premium

Par: 67% + Spread: 0% · 1-yr

S&P 500 Index

monthly_avg_participation

13-yr surrenderDoes not vary by premium

Cap: 5.75% · 1-yr

S&P 500 Index

Annual Charge Included · cap

13-yr surrenderDoes not vary by premium

Fixed: 3.1% · 1-yr

Fixed Account

fixed

13-yr surrenderDoes not vary by premium

Income riders

Income rider

NWL Income Outlook NH

Lifetime withdrawal rate7%
Annual rider fee1%
Guaranteed roll-up5%/yr
Deferral assumed10 years

GLWB

Income rider

NWL Income Outlook Plus 5 NH

Lifetime withdrawal rate7%
Annual rider fee1.5%
Guaranteed roll-up5%/yr
Deferral assumed10 years

GLWB

Common questions about NWL Ultra Classic

● Can I lose money in NWL Ultra Classic?

A negative index return by itself does not reduce the contract's account value: NWL Ultra Classic credits 0% — the floor — for that indexed period. The account value can still decrease from applicable rider fees, Performance Rate Rider or other strategy charges, administrative charges, withdrawals, surrender charges, or other contract-specific deductions. In years with no credited interest, those deductions can reduce the account value. Up to 10% of your value can be withdrawn each year without a charge; withdrawals above the penalty-free amount during the surrender period can incur a surrender charge.

● Is the NWL Income Outlook NH income rider worth the 1% fee?

It depends on whether you will use the guaranteed income. If you are accumulating only, you can skip it. If you want guaranteed lifetime income later, the 5% roll-up and 7% withdrawal rate can make it worthwhile — model it in the Income tab of the analyzer above.

● When can I access my money without a surrender charge?

Up to 10% of your account value each year is penalty-free. The scheduled surrender charges run 13 years; after that the surrender-charge schedule ends. Bonus vesting, market value adjustments when applicable, and other contract rules can still affect the amount available. The Liquidity tab of the analyzer shows the year-by-year surrender charge.

● How do NWL Ultra Classic's crediting strategies compare?

Use "Compare against" in the analyzer to overlay another current NWL Ultra Classic strategy on the same premium, age, years, and hypothetical index path. The control labels the strategy type, rate, index, and context so caps, participation rates, triggers, spreads, and fixed-account choices are not treated as interchangeable.

Key Features

Free withdrawal

10%/yr

Annual amount that may be available without surrender charges, subject to contract terms.

Surrender waivers

2

Nursing home waiver, Terminal illness waiver

Death benefit

Standard Death Benefit

Beneficiary value depends on contract terms, withdrawals, and rider elections.

Cap-rate floor

1.00%

Minimum guaranteed cap for cap-based indexed strategies.

Fixed account guarantee

2.45%

Guaranteed minimum interest rate for the fixed account.

Participation-rate floor

20.00%

Minimum guaranteed participation rate for participation-rate indexed strategies.

Maximum spread

6.00%

Maximum spread: 6.00%

Annuitization options

Single and joint

Contract conversion options should be confirmed before purchase.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

Surrender schedule

Yr 1

15%

Yr 2

14.75%

Yr 3

14%

Yr 4

13%

Yr 5

12.25%

Yr 6

11.25%

Yr 7

10.5%

Yr 8

9.75%

Yr 9

8.75%

Yr 10

8%

Yr 11

6%

Yr 12

4%

Yr 13

2%

After

0%

Nursing home waiver, Terminal illness waiver, Surrender waivers

Documents

brochure

SA-9930_NWL-Ultra-Classic-Consumer-Disclosure-Brochure.pdf

Confidence: highReviewed Apr 13, 2026

Direct link not published — request the document from the carrier.

Carrier Ratings

AM BestA-
S&PA-

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

NWL Ultra Classic currently shows 4 indexed or fixed crediting options, including S&P 500 Index and Fixed Account, with 1 volatility-controlled index option grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, renewal terms, and fee-bearing rider variants are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 5.75% annual cap
  • S&P 500 Index: 67% monthly participation rate
  • Fixed Account: 3.1% fixed account rate

Income rider language

What to look for before treating the rider as income

NWL Income Outlook NH is the main income-rider entry returned for this product. Rider terms can affect the tradeoff between future lifetime withdrawals, contract value, beneficiary value, and cost, so the exact state version and rider election should be confirmed before comparing it to annuitization or income-only contracts.

  • 7% withdrawal rate
  • 1% rider fee
  • 10 deferral years

Liquidity terms

Why access rules deserve as much attention as rates

A fixed indexed annuity can preserve more control than an income-only contract, but access is still governed by the surrender schedule, free-withdrawal terms, and waiver language. Those details are where many product comparisons become more meaningful than a simple rate list.

  • 10%/yr free withdrawal
  • 13 surrender years
  • Nursing home waiver
  • Terminal illness waiver

Verification note

Use carrier materials as term evidence, then confirm the current version

Carrier materials such as SA-9930_NWL-Ultra-Classic-Consumer-Disclosure-Brochure.pdf help explain the contract language behind the data on this page; the latest document activity we see is Apr 24, 2026. For the current brochure, rate sheet, or specimen contract, confirm the state-specific version with the carrier or a licensed financial professional.

  • Rates and rider terms can vary by state and issue age
  • Carrier guarantees depend on claims-paying ability
  • Current contract forms should be confirmed before purchase

Free Comparison Report

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See how NWL Ultra Classic compares for your age, state, premium, and income goals alongside other National Western Life Insurance Company fixed indexed annuity options.

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