US-based National Western Life Insurance has expanded its product portfolio with the introduction of a new suite of Accelerated Death Benefit Riders.


The company has added new living benefit riders to its term product series NWL Term and NWL Secure Term.

Known as living benefits, the new riders have been designed to offer an advance of the death benefit for terminal illness, chronic illness and critical illness.

National Western Life Insurance chief marketing officer Christopher Johnson said: "We believe the addition of these riders make a good product great.

"Considering that these benefits were added at no additional cost demonstrates the Company’s commitment to providing its policyholders with real value."

People who are eligible for the products, 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 firm and less an administrative fee.

According to the firm, the amount of the actuarial discount depends on the age and severity of the applicable terminal illness, chronic illness or critical illness.

With guaranteed premiums for ten, 15, 20 or 30 years, NWL Term and NWL Secure Term are level term insurance products.

National Western Life offers a wide range of individual universal life, whole life and term insurance plans, annuity products.

Image: National Western Life has added new suite of Accelerated Death Benefit Riders to its term product series NWL Term and NWL Secure Term. Photo: courtesy of Stuart Miles/