One Million Years B.C. star Welch will be presented with the Lifetime Achievement award for her career and affect on the industry and Latinos at the W Hotel in Hollywood on 27 June (15), according to Variety.com.
A statement from Axel Caballero, the executive director of the National Association of Latino Independent Producers, reads, "We are tremendously excited by the collective achievements of this year's honourees.
"No one likes to use the word legend lightly, but it only begins to describe Raquel Welch."
Orange Is the New Black star Polanco will receive the Lupe Award for talented Latinos who have shown great potential and growth, while Derbez will be feted with the Outstanding Achievement Award for his success in the industry.