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Surrender Process

Do you have a qualify event?

Please read all the directions thoroughly.

I've included all the information you should need to process your withdrawal.

Full surrenders can take up to 30 days to process!

WHAT YOU'LL NEED TO SEND TO NATIONAL LIFE GROUP/LSW

For 403b and/or 457b

Completed Withdrawal Form
Plan Administrator's Signature (usually an attached certification)
Copy of your Driver's License*

For Traditional and/or Roth IRAs

Completed Withdrawal form
Copy of your Driver's License*

*If this is your first time accessing your funds since you've set up your account including a copy of your DL will make the process go so much smoother and get you your money faster!

Below is a STEP BY STEP Guide on filling out the forms! FOLLOW THE DIRECTIONS!

Step-by-Step

You can fill out the form online but LSW does require a wet signature on withdrawals so you'll need to print the completed form to sign.

On the top of the form choose: Life Insurance Company of the Southwest

Sections

Fill out this section completely
Choose the option that fits your needs.

If you are closing the account choose "Full Surrender"

For PRE-TAXED ACCOUNTS:

When requesting a Partial Withdrawal if you check NET they will send you the amount requested and pay the taxes out of your account balance. An amount requested without a designation will be considered Gross so you will receive that amount minus taxes.

Choosing Direct Deposit will speed up the process. Checks take longer.

Leave blank the line asking to apply to existing NLG Life Group Policy

4a. Choose your qualifying event

Most often the event will be attained age 59.5 or separated from service

4b. Specify your hardship if applicable

Note: A hardship withdrawal will not necessarily close your account in full. There's a formula the IRS requires. Also, the Plan Administrator will likely require proof of your hardship. Contact them directly as to what they will accept as proof.

5. You can leave this blank. LSW will withhold the minimum amount required.

Step by Step page 2

If you have more than one account with me, contact me so that we can determine which account is better to access.

Sections

6. If you have funds in multiple allocations for example Global Balance & Declared Interest. You can choose to have the funds come out of one of the allocations (Declared Interest) or designate a percentage to come from each. (50% GB and 50% Declared)

9. Print, sign, and date.

spousal signature is not required in North Carolina.

Plan Administrator's Signature is required for any withdrawal/distribution taken from a 403b or 457b. School System plan administrators are listed below. I am not your plan administrator.

FORMS

LSW Withdrawal Form: for sporadic partial withdrawals or full surrenders

LSW Automated Withdrawal Form: for automated withdrawals...RMD, GLIR, others (you can contact me to help complete)

*Make sure you come back to this page to refer to the instructions above!*

Special Instructions: 403b and 457b

If you have a 403b or a 457b you'll have added steps/signatures or approval forms to gather. See below "How to Obtain Plan Administrator Signature"

If you run into any issues please call LSW directly 1-800-732-8939.

How to Obtain Plan Administrator Signature

If your account is a 403b or a 457b you will also need to get your school system's Plan Administrator's approval. Plan Administrators role is to make sure that all parties are abiding by IRS rules and regulations. Below are a list of the school systems I primarily work with and a link to their Plan Administrator's Process:

If you school system's Plan Administrator is not listed contact your school system.

You can either fax the form directly to LSW @ 214-638-9162 or email them to imaging@nationallife.com.

If you run into any snags along the way call LSW 1-800-732-8939.

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