Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Moody Ross R
   2. Issuer Name and Ticker or Trading Symbol
NATIONAL WESTERN LIFE INSURANCE CO [NWLI] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President
(Last)
(First)
(Middle)
850 E ANDERSON LANE		 3. Date of Earliest Transaction (Month/Day/Year)
08/26/2010
(Street)

AUSTIN, TX 78752		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 08/26/2010   M   225 A $ 92.13 225 D  
Class A Common Stock               1,642 D  
Class A Common Stock               625 I Trust
Class B Common Stock               482 I Trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Options $ 92.13 08/26/2010   M   225   04/20/2006 04/20/2011 Class A Common Stock 225 $ 0 (4) 0 (4) D  
Stock Appreciation Rights $ 114.64             02/19/2010(1) 02/19/2019 Class A Common Stock 1,000   0 D  
Stock Appreciation Rights $ 114.64             02/19/2012(1) 02/19/2019 Class A Common Stock 5,518   0 D  
Non-Qualified Stock Options $ 208.05             06/20/2009(2) 06/20/2018 Class A Common Stock 1,000   0 D  
Non-Qualified Stock Options $ 255.13             04/18/2011(2) 04/18/2018 Class A Common Stock 5,518   0 D  
Non-Qualified Stock Options $ 150             06/25/2005(2) 06/25/2014 Class A Common Stock 1,000   0 D  
Non-Qualified Stock Options $ 150             04/23/2007(2) 04/23/2014 Class A Common Stock 10,000   0 D  
Non-Qualified Stock Options $ 95             06/22/2002(2) 06/22/2011 Class A Common Stock 1,000   0 D  
Non-Qualified Stock Options $ 92.13             04/20/2006(3) 04/20/2011 Class A Common Stock 4,775   0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Moody Ross R
850 E ANDERSON LANE
AUSTIN, TX 78752		   X     President  

Signatures

 Ross R. Moody   08/27/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The SARs are exercisable as they vest. The SARs vest in five equal annual installments beginning on the Date Exercisable.
(2) The options are exercisable as they vest. The options vest in five equal annual installments beginning on the Date Exercisable.
(3) Of these 4775 options, 575 vested on 4/20/06, 2100 vested on 4/20/07, and 2100 vested on 4/20/08.
(4) Exercise of Non-Qualified Stock Options for 225 shares of Class A Common Stock.

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