Northwestern Mutual

Select™ Immediate Income Annuity

Turn your savings into a steady stream of fixed, predictable income for your upcoming retirement with a Select Immediate Income Annuity.

What is a Select Immediate Income Annuity?

After years of saving for retirement, it’s important to put your savings to work for you in a way that helps provide financial security and helps turn your vision for a retirement lifestyle into becoming a reality. A Select Immediate Income Annuity provides a steady, predictable source of retirement income that’s not subject to market fluctuations. You can purchase it with a one-time payment from an existing personal or retirement savings account, and therefore you will not be subject to any additional fees or expenses.

Is a Select Immediate Income Annuity right for you?

This immediate annuity may be right for you if you:

  • Plan to begin your retirement payouts within approximately the next year. 
  • Are concerned about outliving your income.
  • Want to take the hassle out of Required Minimum Distributions.
  • Want to create a guaranteed1 and predictable income stream with a one-time payment from available qualified or non-qualified funds such as a:
    • 401(k), 403(b), IRA or Roth IRA
    • Savings account or certificate of deposit
    • Investment accounts
    • Inheritance or legal settlement
    • Sale of a business or property
Flexible Income Plan options

You have the option to choose income payments that continue for:

  • Your lifetime
  • Your lifetime plus another person’s lifetime (a spouse or partner, for example)

For either of the lifetime income plans, you also have the option to name a beneficiary to receive your remaining payments should you die within a specified number of years or before the full value of your original deposit is paid out.

Minimize your risk

For further flexibility, you can choose:

  • Increasing Payment option. This provides a hedge against inflation by automatically raising your income by 1 percent to 6 percent annually (or 1 percent to 4 percent for a tax-qualified annuity). With the increasing payment option, the payments are lower in the earlier years of the contract than if this option had not been selected. Also, once chosen, it cannot be changed.
  • Accelerated Income Withdrawal feature. This provides income flexibility by giving you limited access to your money should an unexpected financial need arise. (Some restrictions apply.) With the Accelerated Withdrawal feature, subsequent payments are reduced through the end of the period certain.

More on This Topic 

Click on the links below to access more information. 

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