National Life Understands Life Happens with Our Emergency Access Waiver

Life is full of unexpected events, and sometimes these unforeseen circumstances can create a significant financial strain. For many clients, the hardship withdrawal or unforeseen emergency provision in a 403(b) and 457(b) retirement plan offers a crucial lifeline to cover immediate and heavy financial needs such as medical expenses, eviction prevention, or funeral costs. A recent Vanguard study highlights a growing trend for this provision: a record 3.6% of the 5 million accounts saw an early withdrawal¹.

At National Life Group we recognize life is unpredictable. When the unexpected occurs, the last thing a client needs is the burden of carrier fees or charges. That is why we have the Emergency Access Waiver on our current line of Flexible Premium Deferred Annuities and Single Premium Deferred Annuities. National Life Group is still the only carrier in the industry with this type of provision.

Your clients can access their eligible policy values for a hardship or unforeseen emergency distribution, or after separation from service or disability².  This waiver is included at no additional charge.

Here’s how it works:

• For TPA-approved hardship or unforeseen emergency distributions payable to the annuitant, beginning in the second policy year the waiver forgives all withdrawal charges and Market Value Adjustment (MVA)1.
• For separations or disability distributions payable to the annuitant, withdrawal charges and MVA are waived on:
  • 20% of accumulated value in years 2-4
  • 100% of accumulated value in years 5+
• Policy must be in 403(b) or 457(b) status.
• Payments must be made to annuitant.
•  Withdrawals are subject to taxation and potentially IRS early distribution penalties.

Emergency Access Waver

As life uncertainties continue, the ability to access retirement funds for emergencies without any fees or penalties creates a safety net for many Americans.  Give your clients Peace of Mind with a National Life Group FIT Indexed Annuity!

1. Wilde, W. and Chambers, A. (2024) Why more Americans are making hardship withdrawals from retirement accounts, PBS.
2. The Emergency Access Waiver is available after the first policy year and distributions must be approved by the Plan/Third Party Administrator (TPA). Distribution is subject to IRS taxes and, if applicable, IRS 10% early distribution penalty.