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What Is an Annuity?
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Fixed & Variable Annuities
Retirement savings: check.
Let us help make sure you can retire worry free. A fixed or variable deferred annuity, also known as an accumulation annuity, is like your 401(k) or IRA. You can save money tax-deferred that you can use as an extra source of income in retirement.
Get startedHow do annuities work as part of a financial plan?
Whatever you dream of when it comes to retirement, making sure you'll have the money to make it happen is an important part of your financial plan. Fewer companies offer pensions these days. And the future of Social Security is uncertain. Now, more than ever, people have to rely on themselves to plan for their finances in retirement. A fixed or variable deferred annuity can be a smart way to keep your retirement goals on track. You can save and grow your money, tax-deferred, over and above what you can save by maxing out your contributions to your 401(k) or IRA.
Connect with an advisorWhat to know about fixed and variable annuities:
They're more affordable than many people think.
Like with all financial solutions, annuities do come with some costs. But there are also some big benefits. Depending on the type you choose, you can have tax deferment, a minimum death benefit, or guaranteed income for life.
You won't lose your money if you pass away sooner than expected.
Many fixed and variable annuities come with a death benefit. This feature makes sure your loved ones will get back at least what you put into your annuity if you pass away before your income payments start.
It's never too early or too late to start planning for the future.
With a fixed annuity, you can get guaranteed growth that's tax-deferred.1 With a variable annuity, you can invest your savings.2 Either is a great option if you're rolling over a retirement plan or you've maxed out your 401(k) or IRA contributions.
How does an annuity work? Test your knowledge.
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Meet your goals with the right type of annuity.
| Benefits | Fixed Annuity | Variable Annuity |
|---|---|---|
| Option to convert to an income plan at retirement to receive income payments for life | ||
| A guaranteed death benefit following the death of the owner of the annuity* | ||
| Tax-deferred growth | ||
| Multiple investment sub-account options that are managed by dedicated and experienced professionals** | ||
| Variable investments that can provide the potential to keep pace with inflation*** | ||
| Tax-free, cost-free transfers of assets between available investment sub-accounts**** |
*Variable Annuities are sold by prospectus only. Clients should carefully consider the investment objectives, risks, expenses and charges of the investment company before they invest. A Northwestern Mutual Investment Services Registered Representative can provide clients with a contract and sub-account prospectus that will contain the information noted above and other important information that clients should read carefully before they invest or send money.**The performance of variable sub-accounts is not guaranteed, and variable annuities are subject to market risk, including loss of principal. No investment strategy can guarantee a profit or protect against a loss.***Variable annuities are subject to fees and charges, such as mortality and expense charges, annual contract fees, sales charges, and portfolio expense fees associated with the underlying investment options.****Please refer to the Prospectus for details of all fees and charges.
Make a plan for tomorrow today.
Research shows that people are the happiest when they know how much they can safely spend month to month.3 A fixed or variable annuity can help by giving you the chance to grow your savings for retirement. Find out more about how a fixed or variable annuity can fit into your comprehensive financial plan. Your Northwestern Mutual advisor will work with you on a retirement plan specifically tailored to your goals.
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Explore more about annuities
Find out if a fixed or variable annuity is right for you.
Your advisor will ask deeper questions to help you find the right type of annuity for your goals and budget.
It's easy to get started—no commitment, just a better conversation.