Two new solutions from Northwestern Mutual can help you create a predictable income stream during retirement. Portfolio Income Annuities provide guaranteed income1 for as long as you live, and they have the potential to grow through dividends.2
A unique feature of a Portfolio 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. You can fund these annuities with a single premium payment using tax-qualified funds, including rollovers from a 401(k), IRA, or Roth IRA.
Northwestern Mutual offers a Select Portfolio Immediate Income Annuity and a Select Portfolio Deferred Income Annuity. Both have flexible options to meet your personal needs.
- Guaranteed, predictable income payments can last as long as you live.
- Income payments can start when you are ready.
- The Portfolio Immediate Annuity offers you an income start date of up to 13 months in the future.
- The Portfolio Deferred Income Annuity offers you an income start date in which payments can begin in 13 months or decades in the future.
- The initial guaranteed income payments start with a fixed amount, and your payments will never go below this amount for the rest of your life or the lives of you and a loved one.3
- You have flexibility on how to use your potential dividends – take as cash4 or use it to increase your guaranteed lifetime income payments, or a combination of the two.
Learn more about which Select Portfolio Income Annuity is right for you:
Income Today – Select Portfolio Immediate Annuity
Income Tomorrow – Select Portfolio Deferred Annuity
Income Tomorrow – Portfolio Income Plans
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it cannot be terminated (surrendered) and the money (premium) paid for the annuity is not refundable and cannot be withdrawn.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.
3Income is guaranteed never to go down unless the owner chooses an income plan that specifies lower payments upon the death of the Annuitant or Joint Annuitant.
4Distributions 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.