Partial withdrawals are not allowed. The interest rate and the payment amount are both guaranteed for the time period you select. A withdrawal or transfer can be made at any time. The maximum you can withdraw is calculated by discounting the remaining guaranteed payments and applying a withdrawal charge. Back to top Specified Amount Plan Installment Income for Specified Period Principal and interest are paid to you in an amount you choose until your account balance is zero.
Payments continue until all interest and principal have been paid out.
The current interest rate is payable for the calendar year, and may change annually, as determined by Northwestern Mutual. It will never be lower than the guaranteed minimum rate specified in your contract. Interest that exceeds your guaranteed rate will be used to extend your payment period. Withdrawals or transfers of your remaining funds can be made free of charge. Life Income Plans Northwestern Mutual has life income plans with two payment options.