EXHIBIT 21

SUBSIDIARIES OF THE REGISTRANT

Name of Subsidiary	State of Incorporation	Owner	% Ownership
The Westcap Corporation (of Delaware)	Delaware	National Western Life Insurance Company	100%
NWL Investments, Inc.	Texas	National Western Life Insurance Company	100%
NWL Financial, Inc.	Nevada	National Western Life Insurance Company	100%
NWL Services, Inc.	Nevada	National Western Life Insurance Company	100%
NWLSM, Inc.	Nevada	National Western Life Insurance Company	100%
Regent Care San Marcos Holdings, LLC	Texas	National Western Life Insurance Company	100%

The subsidiaries conduct business under the same corporate names as detailed above.