Hoping to capitalize on Americans’ need for guaranteedretirement income, Northwestern Mutual is making a bigger push intothe longevity annuity market.
It will do so by offering products currentlyavailable through qualified retirement plans to the retailmarket.
Northwestern Mutual rolled out two new guaranteed income annuityproducts in 2012, its Select Portfolio Immediate Income annuity andthe Select Portfolio Deferred annuity. Both initially weremarketed to target rollover money from 401(k) plans andIRAs.
Now, Northwestern wants to capture more of the annuity market bytargeting investors’ personal savings, or significant lump-sums ofmoney resulting from an inheritance, the sale of a home or the saleof a business.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
