National Western Life and Acha

AUSTIN, TX, June 13, 2022 /PRNewswire/ — National Western Life Insurance Company (National Western Life), a wholly owned subsidiary of National Western Life Group, Inc. (Nasdaq: NWLI), has entered into a strategic alliance with Achaean Financial Holdings (Achaean), a intellectual and product development company, to launch a new innovative single premium immediate annuity in the financial market.

National Western Life will be the first life insurance company to use the technology of Achaean products, which, due to its innovative and pioneering structure, will present new and creative solutions for the financial market. National Western Life recently filed the product with insurance regulators and expects a launch in Q3 2022.

Introduced as NWL® Income+, the product will provide lifetime income that offers two key features that advisors and their clients are looking for in an income product: a highly competitive initial annuity payment and an innovative growth component that offers a opportunity to increase income. to help policyholders keep pace with inflation. NWL® Income+ is expected to be marketed as a stand-alone product to ensure an immediate income stream today and may be offered as an option on certain deferred annuity products in the future.

“NWL® Income+ will transform discussions between individuals and their advisors looking to adjust some of their existing financial strategies. Achaean’s unique design features provide an annuity product that generates income and provides the ability to create a flow strong revenue base that could mitigate the risk of inflation. We are committed to creating and delivering products that reflect the diverse and changing needs of consumers, and we are excited to work with Achaean to deliver such creative design,” said Chad J. TopeExecutive Vice President and Chief Marketing Officer of National Western Life.

“Achaean is thrilled that National Western Life has the foresight and innovation to be a leader in retirement solutions. We look forward to working with them and their extensive network of strategic relationships to introduce and expand distribution of the NWL® Income+ product,” added Lorry Stensrud, Managing Director of Achaean.

About National Western Life:

National Western Life Group, Inc. is the parent organization of National Western Life Insurance Company, which is the parent organization of Ozark National Life Insurance Company, both stock life insurance companies offering a broad portfolio of insurance universal life, individual whole and temporary life. insurance plans as well as annuity products. To March 31, 2022the Company has maintained total consolidated assets of $13.8 billionconsolidated equity of $2.3 billionand combined life insurance in force $20.6 billion.

About Achaean Financial Holdings:

Achaean Financial Holdings is a business-to-business licensing and marketing organization whose goal is to address the multiple dislocations within the $24 trillion US retirement market, using innovative proprietary products, software and marketing expertise. While the ultimate beneficiaries of Achaean’s complementary products and services are loved ones or retirees, its customers are life insurance companies and organizations that provide financial counseling and advice.

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SOURCE National Western Life Group, Inc.