Northwestern Mutual

Select™ Portfolio Immediate Income Annuity

Lock in a guaranteed1 stream of retirement income that lasts as long as you do – and has the potential to grow through dividends2 with the Select Portfolio Immediate Income Annuity.

What is a Select Portfolio Immediate Income Annuity?

Now you can feel more confident about retiring and having income that will last as long as you live. The Select Portfolio Immediate Income Annuity is an exclusive, patent-pending product of Northwestern Mutual that lets you turn your savings into guaranteed, predictable retirement income you can’t outlive – and offers the potential to grow through dividends. Income from this innovative annuity can go up but will never go down3, even with downturns in the market. You can purchase a Select Portfolio Immediate Income Annuity with a one-time payment from your personal or retirement savings.

Is a Select Portfolio Immediate Income Annuity right for you?

This immediate annuity may be right for you if you:

  • Plan to begin your retirement payouts during approximately the next year.4
  • Are concerned about outliving your income.
  • Seek a predictable source of income1 that's not tied to the ups and downs of the market.
  • Would like to take the hassle out of Required Minimum Distributions (RMDs).
  • Want to create a guaranteed income stream with the possibility to generate more income through potential dividends.
  • Can make a one-time payment from available qualified or non-qualified funds such as:
    • 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
  • Want a Cash Refund option so any money you don’t receive as income payments will go to your beneficiary upon your death—guaranteed.

Why choose a Select Portfolio Immediate Income Annuity?

When you purchase the Select Portfolio Income Annuity, you can retire with the confidence that you’ll receive guaranteed income for life. Your guaranteed income payments will be unaffected by the economy and can grow through dividends. Whenever dividends are paid, you can use them to increase your lifetime income payments, take them as distributions in cash, or choose a combination of the two.

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.

Cash Refund option

Any portion of your initial contribution that remains when you die will be paid to your beneficiary in a lump sum amount … guaranteed! This option is also available with our Portfolio Immediate Income Plans, Select Portfolio Deferred Income Annuities, and Portfolio Deferred Income Plans.

More on This Topic

Click on the links below to access more information.

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  • Your Retirement Paycheck

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  • Guaranteed Retirement Income

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  • Lifetime Income Annuities

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    Lifetime Income Annuities

    Find out which annuity is right for you, whether you’re retiring soon or years from now.

  • Guaranteed Income: Know Your Options

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The Northwestern Mutual Difference

A Select Portfolio Immediate Income Annuity turns your retirement savings into a dependable income stream with the potential for growth through dividends.