Northwestern Mutual

Select™ Deferred Income Annuity

Lock in a steady stream of fixed, predictable income for your future retirement with a Select Deferred Income Annuity.

What is a Select Deferred Income Annuity?

You may be looking forward to adventure in retirement, but that shouldn't include ups and downs in your retirement income. The Select Deferred Income Annuity lets you create future retirement income that will continue for life.1 Your monthly retirement income stream is fixed and fully guaranteed by Northwestern Mutual, which means it isn't affected by market volatility. Simply select when the income will begin – from 13 months up to 10 years after your purchase – and enjoy predictable income each month.

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You can purchase this annuity with a one-time payment from an existing retirement account through a tax-free exchange, or you can transfer funds from your savings or investment accounts.

A Select Deferred Income Annuity helps you manage your retirement distributions since payments automatically satisfy Required Minimum Distributions (RMD) for tax-qualified accounts.

Is a Select Deferred Income Annuity right for you?

This deferred annuity may be right for you if you:

  • Plan to begin your retirement payments from 13 months to 10 years in the future.
  • Want to create a predictable, fixed source of income that is not affected by the ups and downs of the market.
  • Want to avoid the hassles of taking required minimum distributions during retirement.
  • Want to create a guaranteed income stream in retirement that you can’t outlive, with a one-time payment from available qualified or non-qualified funds such as:
    • A 401(k), 403(b), IRA or Roth IRA.
    • A savings account or certificate of deposit.
    • Investment accounts.
    • An inheritance or legal settlement.
    • The sale of a business or property.
  • Want a Return of Premium option so that any portion of your initial deposit you don’t receive as income payments will go to your beneficiary upon your death – guaranteed.

Flexible Income Plan Options

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

  • Your lifetime.
  • Your lifetime plus the lifetime of someone else you choose, such as your spouse.

For either of the lifetime income plans, you have the further option to specify a guaranteed period (called a Period Certain) of up to 20 years at your contract date.

Select the Deferral Period Death Benefit option when you choose your income plan for additional flexibility, including the ability to advance your start date or make a death benefit payable if you should die before you begin receiving income payments.

If you want to make sure your initial deposit is returned to you or your beneficiary, the Select Deferred Income Annuity has two income plans that will help you accomplish just that.

  • Return of Premium Option: Once you start receiving income payments, help safeguard your money with the Return of Premium option.  With this option, any portion of your initial deposit that remains when you die will paid to your beneficiary in a lump-sum amount … guaranteed!
  • Single Life Refund Option: Once you start receiving income payments, help safeguard your money with the Single Life Refund option. With this option, any portion of your initial deposit that remains when you die will continue as payments to your beneficiary until an amount equal to the original deposit has been paid … guaranteed!

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