This innovative new retirement income solution from Northwestern Mutual allows you to “lock in” a guaranteed stream of income1 that lasts as long as you live. In addition, this income stream can grow through potential dividends.2
A unique feature of the Portfolio Deferred Income Annuity is that your income payments can increase with potential dividends. Whenever dividends are paid, you have the flexibility to take them in cash each year or use them to increase your lifetime income payments, or a combination of the two.
Since this is a deferred annuity, you will delay receiving payments into the future, when you start receiving income payments.
You can fund the Portfolio Deferred Income Annuity with a single premium payment using tax-qualified funds, including rollovers from a 401(k), IRA, or Roth IRA. Although this annuity is an insurance product, there are no health restrictions or medical exams, issue fees or annual expenses.
The Select Portfolio Deferred Income Annuity has a variety of features and options that allow you to:
- Purchase your annuity today with a one-time payment using tax-qualified funds from a 401(k) plan or an IRA.
- Have the flexibility to decide when you want to start receiving income – as short as 13 months after issue or up to decades in the future.
- Choose from a variety of income plans that provide guaranteed income for your life or the lives of you or a loved one, and if you like, choose a guaranteed minimum period for payments of up to 20 years from contract issue.
- Choose how to use your potential dividends – take as cash or use to increase your guaranteed lifetime income payments, or a combination of the two.3
- Select a death benefit payable to your beneficiaries if you die before payments begin.
Contact a financial representative to learn more about this innovative retirement income solution from Northwestern Mutual.
An income annuity has no cash value. Once issued, it cannot be terminated (surrendered) and the money (premium) paid for the annuity is not refundable and cannot be withdrawn.
1All annuity guarantees are backed solely by the claims-paying ability of Northwestern Mutual.
2Dividends are not guaranteed.
3Distributions of taxable amounts, including dividends and taxable death benefits are subject to ordinary income tax and may be subject to a 10% IRS early withdrawal penalty if taken before age 59 ½. Please consult with your professional tax advisor.
Not available in New York.