UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
[ ] Form 10-K [ ] Form 20-F [ ] Form 11-K [ X ] Form 10-Q [ ] Form N-SAR
For the Quarterly Period Ended June 30, 2000
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:____________
PART I - REGISTRANT INFORMATION
NATIONAL WESTERN LIFE INSURANCE COMPANY
(Full name of Registrant)
850 EAST ANDERSON LANE
(Address of Principal Executive Office)
AUSTIN, TEXAS 78752-1602
(City, State and Zip Code)
PART II - RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable
effort or expense and the registrant seeks relief pursuant to Rule
12b-25(b), the following should be completed.
[ X ] (a) The reasons described in reasonable detail in Part
III of this form could not be eliminated without
unreasonable effort or expense;
[ X ] (b) The subject annual report, semi-annual report,
transition report on Form 10-K, Form 20-F, 11-K, Form N-
SAR, or portion thereof, will be filed on or before the
fifteenth calendar day following the prescribed due date;
or the subject quarterly report or transition report on
Form 10-Q, or portion thereof will be filed on or before
the fifth calendar day following the prescribed due date;
and
[ ] (c) The accountant's statement or other exhibit required
by Rule 12b-25(c) has been attached if applicable.
PART III - NARRATIVE
National Western Life Insurance Company ("National Western" or
"Company") is delaying the filing of its Form 10-Q report for the
quarter ended June 30, 2000. During the preparation of the
Company's Form 10-Q filing, management discovered a potential error
in the liabilities for future annuity policy benefits. More
specifically, it was determined that the software system used to
calculate such policy liabilities contained an error in the
processing procedure which could lead to incorrect calculations of
certain policy liabilities which are used for financial statement
reporting purposes. The error appears to only impact financial
reporting issues and did not affect transactions with the Company's
policyholders. While the problem is isolated to a specific block
of annuity policies, the magnitude of any error has not yet been
determined. The Company is also reviewing possible related effects
on deferred policy acquisition costs.
Because management discovered this issue shortly before the Form
10-Q prescribed due date, the decision was made to delay such
filing until it can be determined if there could be a material
effect on the Company's June 30, 2000, financial statements. Due to
the late nature of this discovery, National Western is not able to
file the Form 10-Q timely without unreasonable effort or expense.
National Western's Audit Committee has been informed of the
problem, concurs with management's assessment of the situation and
plan for resolution, and has authorized management to delay the
filing. Currently, the Company anticipates filing the June 30,
2000, Form 10-Q report within five days of the prescribed due date.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification.
Vincent L. Kasch (512) 836-1010
(Name) (Area Code)(Telephone Number)
(2) Have all other periodic reports required under Section 13 or
15(d) of the Securities Exchange Act of 1934 or Section 30 of
the Investment Company Act of 1940 during the preceding 12
months or for such shorter period that the registrant was
required to file such report(s) been filed? If answer is no,
identify report(s).
[ X ] Yes [ ] No
(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal
year will be reflected by the earnings statement to be
included in the subject report or portion thereof?
[ ] Yes [ X ] No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the
reasons why a reasonable estimate of the results cannot be
made.
NATIONAL WESTERN LIFE INSURANCE COMPANY
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: August 14, 2000 By: /S/ Robert L. Busby, III
Robert L. Busby, III
Senior Vice President -
Chief Administrative Officer,
Chief Financial Officer
and Treasurer
(Principal Financial Officer)
Date: August 14, 2000 By: /S/ Vincent L. Kasch
Vincent L. Kasch
Vice President - Controller
and Assistant Treasurer
(Principal Accounting Officer)
