Northwestern Mutual

Portfolio Deferred Income Plans

Get guaranteed1 retirement income with the potential for growth through dividends with the Portfolio Deferred Income Plan.

What is a Portfolio Deferred Income Plan?

When you are ready to start receiving income from your deferred annuity – whether it’s next year or in 40 years – you can choose from a number of flexible income plans. Each plan annuitizes your balance, that is, turns it into a stream of guaranteed income, a lifelong retirement "paycheck."

The Portfolio Deferred Income Plan3 is a Northwestern Mutual exclusive that offers guaranteed1 lifetime income with the potential for growth through dividends. Its benefits include:

  • A guaranteed retirement income stream for the rest of your life.
  • A guaranteed income floor that protects you from downturns in the market. Future payments will never fall below this amount, except when a plan is chosen that specifiesRetirement Savings White Paper lower payments upon the death of the annuitant or joint annuitant.
  • Potential increases to that income floor through dividends. Whenever dividends are paid, you can take them in cash or use them to purchase additional lifetime income.
  • Flexibility to start your payments anytime from approximately a year up to decades in the future.
  • Want a Cash Refund option so any money you don’t receive as income payments will go to your beneficiary upon your death—guaranteed.

The Portfolio Deferred Income Plan may be right for you if you are looking for a fixed, guaranteed amount of income with the potential for growth through dividends.

Choose lifetime income for you alone or for you and a loved one.

When choosing an income plan for your retirement, you have four main choices:

  • Single Life: Get guaranteed income payments for the rest of your life. (You can never outlive your money.) This option gives you the largest amount of monthly income because it is based on just your life.
  • Single Life with Period Certain: You receive guaranteed income payments for the rest of your life, but if you die within the Period Certain – typically from five to 20 years – the income will continue to your named beneficiary for the remainder of that period.
  • Single Life with Cash Refund option: Once you start receiving income payments, any portion of your initial contribution that remains when you die will be paid to your beneficiary in a lump- sum amount … guaranteed!
  • Joint Life or Joint Life with Survivor: Income is paid for your lifetime or the lifetime of your Joint Annuitant (your spouse or other loved one you’ve named in your contract), whichever is longer.
  • Joint Life or Joint Life with Survivor and a Period Certain: Income is paid for your lifetime or the lifetime of your Joint Annuitant, depending on who lives longer. If you both die before within the Period Certain, the income will continue to be paid to your beneficiary for the remainder of that period.
  • Joint Life with Survivor and Cash Refund option: Income is paid for your lifetime or the lifetime of your Joint Annuitant, depending on who lives longer. Upon the death of the surviving Annuitant, any portion of your initial contribution that remains will be paid to your beneficiary in a lump-sum amount … guaranteed.

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

Not all options are available with all plans.

More on This Topic

Click on the links below to access more information.

  • Your Retirement Paycheck

    Your Retirement Paycheck

    Learn how to turn your savings into the income you need to cover your retirement expenses.

    Watch
  • Guaranteed Retirement Income

    Guaranteed Retirement Income

    Learn how to create a predictable source of guaranteed, stable income for your retirement.

    Watch
  • Income for Life

    Brochure widget graphic
    Income for Life

    Discover a strategy that addresses the six major risks to your money during retirement.

    Download
  • Portfolio Income Plans

    Brochure widget graphic
    Portfolio Income Plans

    Learn how easy it is to choose a Portfolio Income Plan that works for your retirement.

    Download