AUSTIN, Texas, July 9, 2015 /PRNewswire/ -- National Western Life Insurance Company (Nasdaq: NWLI) announced today that it has added a suite of Accelerated Death Benefit Riders to its term product series, NWL® Term and NWL® Secure Term. The riders, generally known as Living Benefits, provide an advance of the death benefit for terminal illness, chronic illness and critical illness.
"We believe the addition of these riders make a good product great," said S. Christopher Johnson, the Company's Domestic Chief Marketing Officer. Mr. Johnson added, "Considering that these benefits were added at no additional cost demonstrates the Company's commitment to providing its policyholders with real value."
For those who qualify, the rider can accelerate a lump sum benefit payment of up to 90% of the Face Amount of the policy, less an actuarial discount determined by the Company, and less an administrative fee (other terms and conditions apply). The amount of the actuarial discount is based on the age and severity of the applicable terminal illness, chronic illness or critical illness. NWL® Term and NWL® Secure Term are level term insurance products with guaranteed premiums for 10, 15, 20 or 30 years.
About National Western Life Insurance Company
Founded in 1956, National Western Life is a stock life insurance company offering a broad portfolio of individual universal life, whole life and term insurance plans, annuity products, and investment contracts meeting the financial needs of its customers in 49 states as well as residents of various countries in Central and South America, the Caribbean, Eastern Europe, Asia, and the Pacific Rim. The Company has approximately 270 employees and 21,000 contracted independent agents, brokers, and consultants, and at March 31, 2015, maintained total assets of $11.5 billion, stockholders' equity of $1.6 billion, and life insurance in force of $23.1 billion.
Contact: Paul Garofoli, FLMI Marketing Vice President Phone: 800-760-3434, ext 207 FAX: 512-339-8350 E-Mail: firstname.lastname@example.org
SOURCE National Western Life Insurance Company