In the News

Title

Northwestern Mutual Launches New 'Longevity Annuity' Allowing Individuals to Delay Required Minimum Distributions and Set Aside Money for Later in Retirement

Authors

PR Newswire

Document Type

Article

Publication Date

7-14-2015

Abstract

Expanding its suite of industry-leading income solutions to help clients navigate longevity risk and secure guaranteed lifetime income in retirement, Northwestern Mutual has launched the first dividend-paying Qualified Longevity Annuity Contract (QLAC), which individuals can use to earmark a portion of IRA dollars for use later in retirement.

The new QLAC is available via Northwestern Mutual's Select™ Portfolio Deferred Income Annuity (Portfolio DIA), its patent-pending income product that has the upside potential to grow base income through dividends*, which can help address inflation and cost of living increases over time.