| UNITED STATES |
| SECURITIES AND EXCHANGE COMMISSION |
| WASHINGTON, D.C. 20549 |
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| FORM 8-K |
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| CURRENT REPORT |
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| Pursuant to Section 13 or 15(d) of |
| the Securities Exchange Act of 1934 |
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| Date of Report (Date of Earliest Event Reported) March 18, 2008 |
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| NATIONAL WESTERN LIFE INSURANCE COMPANY |
| (Exact Name of Registrant as Specified in Its Charter) |
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| COLORADO | 84-0467208 |
| (State or Other Jurisdiction of Incorporation) | (I.R.S. Employer Identification Number) |
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| 2-17039 |
| (Commission File Number) |
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| 850 EAST ANDERSON LANE, AUSTIN, TEXAS | 78752-1602 |
| (Address of Principal Executive Offices) | (Zip code) |
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| (512) 836-1010 |
| (Registrant's Telephone Number, Including Area Code) |
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| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |
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| [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
| (17 CFR 240.14d-2(b)) |
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| [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
| (17 CFR 240.13e-4(c)) |
Item 8.01. Other Events.
National Western Life Insurance Company (“the Company”) has an agreement with Bear Stearns International Limited under which it transacts option purchases as part of the Company’s hedging program for its indexed products. Effective March 16, 2008, Bear Stearns International Limited entered into a Guaranty Agreement with JPMorgan Chase & Co., whereby JPMorgan Chase & Co. unconditionally guaranties the due and punctual payment of certain liabilities of Bear Stearns International Limited, including the current liabilities of Bear Stearns International Limited to the Company. As of the date of this report, the Company held option contracts with Bear Stearns International Limited with an approximate value of $0.7 million as of March 17, 2008, which are covered by the JPMorgan Chase & Co. Guaranty Agreement.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | | NATIONAL WESTERN LIFE INSURANCE COMPANY |
| Date: March 18, 2008 | By: | /S/ Brian M. Pribyl |
| | | Brian M. Pribyl |
| | | Senior Vice President |
| | | Chief Financial & Administrative Officer |
| | | and Treasurer |
