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Independent Review of the National Western Life Insurance Company’s Income Outlook Plus 5 Fixed Indexed Annuity Rider

What We Will Be Covering in this Annuity Rider Review

In this annuity rider review, we will be going over the details regarding the Income Outlook Plus 5 from National Western Life Insurance Company, including:
  • Product typeIndependent Review of the National Western Life NWL Ultra Future Fixed Indexed Annuity with Income Outlook Plus 5 Rider
  • Fees
  • Current rates
  • Realistic long-term return expectations
  • How it is best used
  • How it is most poorly used

Annuities can be complex. That’s where having an Annuity Investigator who loves math comes in. We make the complex, simple.

If you’ve been considering the purchase of an annuity because you want your money to grow on a tax-deferred basis, and you also want to ensure that you have an income stream for life – regardless of how long you may need it – then having the Income Outlook Plus 5 rider on your fixed indexed annuity from National Western Life Insurance Company could be a good option for you. And this can particularly be the case if you also want to make sure that your principal is safe, while at the same time having the opportunity to attain a nice, index-based, return. But prior to making a long-term commitment on this or any other financial vehicle, it is a good idea that you first get a more in-depth understanding with regard to how this product works, and how it may – or may not – end up working for you and your financial goals and needs. Otherwise, if you find that it is not all it was initially cracked up to be, it could be difficult and costly to get out of it. Over the past few years – in large part due to the constant volatility of the stock market – the demand for fixed indexed annuities has risen dramatically. Because of this increased demand, the number of insurance and financial advisors who are offering these products – and their added riders – to their clients has also gone up. This, however, is not necessarily a good thing. Why you may ask? One reason is that these new and “improved” products and benefits can make an already confusing financial vehicle even more confusing – even for well-informed consumers and financial advisors alike. So, unless you work with an insurance or financial rep who really knows their stuff about annuities, it is highly recommended that you do some research on your own in order to determine whether or not the annuity you are being presented will really make sense for you.

Annuity and Retirement Income Planning Advice You Can Trust

If this is your first visit to our website, then please allow us to personally welcome you here to We are a team of annuity professionals who focus on offering comprehensive, and unbiased, annuity reviews.Independent Review of the National Western Life Insurance Company's Income Outlook Plus 5 Fixed Indexed Annuity Rider We’ve been doing this for quite a while now – much longer than our competitors have – and because of that, we’ve come to be seen as a highly trusted source of annuity information online. We also tend to be copied by other annuity websites. We don’t mind, though, as imitation is the highest form of flattery. To consumers, though, it can be difficult to determine what information on the Internet to believe. Plus, if you’ve been in the process of researching annuities online for any length of time, it’s probable that you’ve noticed that there are many conflicting details about these products online. This, however, it not entirely shocking, as there are a lot of annuities out there, and it seems that there are just as many differing opinions! You may also have recently attended an annuity seminar where, in return for a free dinner or lunch, the presenter went into in-depth details about the National Western Life Insurance Company’s Income Outlook Plus 5 fixed indexed annuity rider, or some other similar product. If you did end up setting a follow-up appointment with that presenter in order to discuss whether or not an annuity is right for you, then it is possible that you’ve landed here on our website in order to gather more details. In any case, we’re glad you’re here. While the claims that are made on other websites – such as “low fees,” “lifetime guaranteed income,” and “highest returns” may sound great, it is absolutely essential that you verify these claims before moving forward with a purchase – just like you would likely do before you commit to any high-dollar product or service. With that in mind, if you need more details about the Income Outlook Plus 5, you are certainly in the right place. In fact, dare we say that our site is the only website where you can obtain all of the key details – the good, the bad, and yes, even the ugly – about this product. This, in turn, can provide you with the whole picture, and this can make it easier to determine whether this is the option for you, or rather if you should move on to something better. Just to be entirely clear, here, we do want to state for the record that we feel that annuities (and their optional features and benefits) can offer a wide array of advantages to investors – provided that they fit in with the investor’s overall short- and long-term financial goals. That being said, this annuity review is here to help you with learning all that you need to know about the National Western Life Insurance Company’s Income Outlook Plus 5 fixed indexed annuity rider. So, if you’re ready to get started, let’s go!

National Western Life Insurance Company Income Outlook 5 Fixed Indexed Annuity Rider at a Glance

Product NameIncome Outlook Plus 5
IssuerNational Western Life Insurance Company
Type of ProductFixed Indexed Annuity Rider
S&P RatingA (Strong)
Phone Number(800) 922-9422

Opening Thoughts on the Income Outlook Plus 5

For more than six decades, National Western Life Insurance Company has been offering financial growth and protection products to its customers. Headquartered in Texas, the company offers its products in 49 of the U.S. states, as well as in the District of Columbia and in four U.S. territories. The company is considered strong and stable, and has, in turn, earned high ratings from the insurer rating agencies, including an A (Excellent) from A.M. Best, and an A (Strong) from Standard & Poor’s. National Western offers a long list of both fixed and fixed indexed annuities, as well as term and permanent life insurance products. In October 2015, National Western Life Insurance Company became a wholly owned subsidiary of National Western Life Group, Inc. Over the past several years, fixed index annuity products have become much more sought after by consumers as a way to obtain a guaranteed income for life, as well as for the opportunity to keep principal safe regardless of what the market does, and to grow funds based on upward index performance. But, even though this all might sound very enticing, the truth is that when something sounds “too good to be true”, it probably is – and in this case, you should definitely pursue a bit more information in order to discover the whole story. This is especially the case if your decision about an annuity could result in you committing a large percentage of your retirement savings.

Before we get into the gritty details, here are some necessary legal disclosures…

This is an independent annuity product review. It is not a recommendation to purchase or to sell an annuity. National Western Life Insurance Company has not endorsed this review in any way, nor do we receive any type of compensation for providing this review. This annuity review is meant solely to be an independent review at the request of our readers so that they may see out perspective when breaking down the positives and the negatives of this particular annuity. Before purchasing any type of insurance and/or investment product, it is important that you do your own due diligence, and that you consult a properly licensed professional if you should have any specific questions that relate to your individual situation. All of the names, marks, and materials that were used for this annuity review are the property of their respective owners. For more information on how to compare annuities in order to determine which one may be the best for you and your financial circumstances, click here to obtain our free annuity report.

How National Western Describes the Income Outlook 5

According to National Western, the Income Outlook Plus 5 is an annuity rider that can provide guaranteed withdrawal payments for life to the annuitant, starting at his or her age 60. With this rider, during the withdrawal period, the annuitant (or annuitants) will be paid a series of withdrawal payments based on a percent of the withdrawal payment base when the period begins. These payments are deducted from the base annuity policy’s account value. And, they are guaranteed for life. This, in turn, can help to alleviate the concern about running out of income in the future. In some cases, an annuitant may be eligible for a 5% rider bonus – and they are immediately vested in the withdrawal payment base for the purpose of calculating withdrawal payments.  If this rider is chosen, then the guaranteed withdrawal percentage is based on the age of the annuitant on the policy anniversary in which the withdrawal payments begin. Based on information from National Western Life here is what single and joint annuitants can anticipate in terms of guaranteed withdrawal percentages:

Single Annuitants

60 to 645.0
65 to 695.5
70 to 746.0
75 to 796.5
80 to 847.0
85 to 897.5

Joint Annuitants

60 to 644.0
65 to 694.5
70 to 745.0
75 to 795.5
80 to 846.0
85 to 896.5

How an Insurance or Financial Advisor Might “Pitch” this Product

Due in large part to our longer average lifespans today, people are likely to spend more time in retirement. But, while that can have a number of nice advantages, it also means that it will take more income to live comfortably for this long period of time. This is where an annuity income rider like the Income Outlook Plus 5 can come in. By guaranteeing that an annuitant (as well as a joint income recipient, if applicable), there is far less concern about running out of income before essentially “running out of time.” This feature is likely where an insurance or financial advisor will focus when presenting clients or prospects with this rider. In fact, it’s amazing what a little bit of extra added “security” can do when you’re making a decision about a product – even one that may require you to make a long-term commitment with your money. However, before you give your advisor the green light, be sure that you know the whole story. For instance first, your withdrawal payments can only begin in Year 2 or later – and you must be at least age 60, as well. So, if you’re looking for a way to get income flowing immediately, this probably won’t be your cup of tea. And remember that 5% rider bonus that you may be eligible for? Here you aren’t going to be fully vested for a full ten years. So here again you see a drawback that might not make this option as rosy as it initially sounded. And then there are the fees.

Fees Associated with the National Western Life Income Outlook Plus 5 Rider

Most of us are painfully aware that nothing in life is truly free – and this also holds true when it comes to retirement annuities, as well as many of their added benefits. With regard to the Income Outlook Plus 5 rider, there is a charge of 1.50% of the APWPB (withdrawal payment base). This rider charge is deducted from the annuity’s account value at the end of each policy year (but not from the APWPB). And, the charge is assessed, regardless of the interest credits on the annuity, if any. Given this, it is important to consider just how much your added benefit may end up “costing” you – especially over a long period of time.

The Annuity Gator’s End Take on the Income Outlook Plus 5 Rider

Where it works best: In the case of the Income Outlook Plus 5, it could be beneficial for those who:
  • Plan to hold their annuity in the accumulation period for a longer period of time (i.e., at least ten years or more)
  • Are – or will be – at least age 60 when they plan to start taking income
  • Are wanting to ensure that they (and also a joint income recipient, if applicable) will have income for as long as it is needed in the future
Where it works worst:
  • For those who want to take income right away and/or before the age of 60
  • For those who do not want or intend to take advantage of the guaranteed income stream for life

In Summary

There are many factors that should ideally be taken into consideration if you are thinking about purchasing an annuity, as well as any of its additional riders or benefits. These considerations should include – but they are not limited to – how the product can produce a return, how safe your money will be, how the income will pay out, and whether or not there any added fees or charges for these options. If you are considering adding the Income Outlook Plus 5 rider to a National Western Life Insurance Company annuity product, then you can be assured that you’ll have a guaranteed stream of income in the future. But even so, this product could also still fall somewhat short – and because of that, there may be some options out there that will work better for you and your specific scenario. The only way to really know what to anticipate is to have the product tested. We can do that for you at no charge or obligation. So, if this is something that you’re still interested in pursuing, the let us know and we’ll be happy to help.

Do You Have Any Additional Questions? Did You Happen to See Any Mistakes in this Review?

We know that this review went a bit on the lengthy side. So for that, we thank you for staying with us. Our feeling is, though, that we would much rather provide you with “too much” detail than not nearly enough. So, if you found this review to be beneficial, then please feel free to share it and pass it along to anyone else that you think could also benefit from it. On the other hand, if this review caused you to have even more questions, then please let us know that, too. Are there any other annuity products that you would like to have us review on our website? If so, then just simply pass along the name (or names) of the annuity and/or associated product(s), and our annuity “geeks” will get right on the case! Best, The Annuity Gator P.S If you would like to read more of our National Western annuity reviews here are some links to check out: Independent Review of the National Western Life Insurance Company's Income Outlook Plus 5 Fixed Indexed Annuity Rider  

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