Northwestern Mutual

Select™ Deferred Income Annuity

Lock in a steady stream of fixed, predictable income for your future retirement and get tax-deferred growth 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

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.

  • Single Life with Period Certain: You receive guaranteed income payments for the rest of your life, but if you die within the Period Certain, the income will continue to your named beneficiary for the remainder of that period.
  • Joint Life or Joint Life with Survivor and a Period Certain: Income is paid for your lifetime or the lifetime of someone you choose, such as your spouse, whichever is longer. If you both die within the Period Certain, the income will continue to be paid to your beneficiary for the remainder of that period.

Finally, for maximum flexibility, you can take advantage of:

  • Single Life Refund: You receive guaranteed income payments for the rest of your life. If you should die during the payment phase and all of the income you’ve received to date doesn’t equal your original deposit, payments will continue to your beneficiary until the premium amount is refunded.

More on This Topic

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