This patent-pending 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 Immediate 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 an immediate annuity, you can start receiving income within 7 days or delay up to 13 months after issue.
You can fund the Portfolio Immediate Income Annuity with a single premium payment including rollovers from a 401(k), IRA, Roth IRA, or a savings account, inheritance or sale of a business or property.
The Select Portfolio Immediate Income Annuity has a variety of features and options that allow you to:
- Purchase your annuity today with a one-time payment.
- 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 cash3 or use them to increase your guaranteed lifetime income payments, or a combination of the two.
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it cannot be terminated (surrendered) and the money (premium) paid for the annuity is not refundable and cannot be withdrawn.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 all contracts available in all states.