It's no secret that people are living longer. Living longer means there are more years to enjoy family, friends and dreams. A longer retirement introduces the possibility of not having sufficient retirement income to support your lifestyle. A guaranteed lifetime payout can protect you from outliving your income.

With the lifetime income option you can rest assured that you will never outlive your income. An immediate annuity is an ideal way to augment Social Security and other savings to maintain an optimum financial lifestyle during retirement.

If you choose this option, you can receive a series of scheduled payments, from 2 to 30 years.

You can arrange for payments to continue beyond your own lifetime.

Read more about your income plan options.

You can choose to receive your scheduled payments on a monthly, quarterly, semi-annual or annual basis.

Your income will be a fixed amount and not subject to market volatility. You will be able to budget and plan your life around this steady stream of income.

By receiving income on a gradual basis, as opposed to withdrawing it in a lump sum, you are able to spread your taxable income out over time. (Consult a professional tax advisor for further information on the taxation of immediate annuities.)

There are no health or age restrictions, issue fees, or annual expenses.

You can establish an immediate annuity when you need it, even if you are already retired.

Any annuity income plan is only as good as the insurer that issues it. Payments under an annuity income plan are solely backed by the issuer, making the issuer's financial strength an important consideration. With the Select Immediate Annuity, you'll gain the financial strength and stability of Northwestern Mutual, one of the most respected insurance companies in operation today. Founded in 1857, Northwestern Mutual has been given the best possible insurance financial strength ratings by the four major, third-party rating agencies.

Third-party ratings are a measure of a company's relative financial strength and security, but are no reflection on the performance of the variable funds. The performance of variable funds is not guaranteed and can fluctuate so that the value of your contract can be more or less than your original investment.