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Northwestern Mutual Life Insurance Review

By providing coverage to higher-risk populations, such as seniors and smokers, Northwestern Mutual Life Insurance makes more accessible to a wider range of people. You will most likely be required to have a medical examination and talk with an insurance agent in order to be eligible for coverage. It also offers flexible payment options.

A wide range of life insurance policies are available from Northwestern Mutual Life Insurance, including term, whole life, universal life, and variable life.

Whole life insurance plans accrue capital value, with certain policyholders being eligible to receive dividends if and when the Northwestern Mutual board of directors decides to make a distribution to policyholders.

The company also offers options that combine the benefits of both term and permanent life insurance plans as a substitute.

Consider searching for and comparing other life insurance providers to Northwestern Mutual if there are any gaps in Northwestern Mutual’s coverage options, or if you want a more easy enrollment process.

Northwestern Mutual Life Insurance Prices

Northwestern Mutual Life Insurance Review - Northwestern Mutual Logo

The “preferred” class of Northwestern Mutual’s insurance plans rewards you with the lowest rates available throughout the company’s entire product line when you are in practically perfect health.

However, unlike its rivals, this provider does not make it apparent how you might be able to qualify for these discounted rates.

For further information on whether or whether you qualify for preferred pricing, you should consult with a Northwestern Mutual financial advisor.

How You Can Get A Northwestern Mutual life insurance Quote?

Unfortunately, Northwestern Mutual does not offer online quotes or applications, but you may request to be connected with an agent. Here’s how to get started:

  • Go to Northwestern Mutual’s main life insurance website and pick Let’s Talk.
  • You will be asked to provide some basic personal information before matching with an agent. To find an agent, enter the agent’s name and location, and then click Search. Click Get Matched if you have not picked an agent.
  • In the coming days, you will be contacted by a financial professional to examine your life insurance options.

Northwestern Mutual provides several life insurance policies.

  • Term life. In general, term life insurance plans from Northwestern Mutual provide protection for a specific period of time, such as 10 or twenty years, or until a specific age. It is possible to convert certain term life insurance policies into permanent life insurance policies during specific conversion periods. Acceptance is guaranteed, and there are no medical screenings or underwriting requirements to complete the application.
  • Whole life. A whole life insurance policy from Northwestern Mutual consists of a fixed premium, a guaranteed death benefit, and living benefits, all of which are guaranteed. Throughout your professional life, you may be able to use the cash value in your policy to help pay for a down payment on a home, augment your retirement income, or provide assistance to elderly relatives.

Although Northwestern Mutual has been paying out whole life insurance payments since 1872, the firm’s payments are not guaranteed. According to the company’s forecasts, dividends will total $5.6 billion in 2019. Additionally, you may reinvest profits back into your insurance policy to help it accumulate cash value faster.

  • Universal life. On the other hand, a universal life insurance policy combines the cash value accumulation of a whole life policy with the flexibility of variable premiums and payment schedules. You have complete control over the amount and frequency of your premium payments, as long as the cash value in your policy reserves is adequate to cover them. An alternative is to pay a one-time flat sum to cover the cost of insurance coverage.

Which riders am I allowed to put on my policy?

Northwestern Mutual makes it tough to determine the full range of riders that are offered on their web platform. Rather than doing so, you’ll need to speak with an insurance representative about customizing your plan to match your specific requirements. The riders that are available to you will vary depending on your life insurance policy, however they may include the following:

  • Child rider. This allows you to add term life insurance for your children to your life insurance policy.
  • Disability income benefit rider. This benefit gives additional revenue if you become totally disabled.
  • Waiver-of-premium rider. You will no longer be obliged to make any insurance payments under this clause if you are injured and you suffer a loss of income as a result of an injury or an illness.

Northwestern Mutual life insurance reviews & customer support

The Better Business Bureau (BBB) gives Northwestern Mutual an A+ rating based on variables such as transparency, expertise, and complaints, despite the fact that the company is not accredited by the BBB.

A.M. Best gives Northwestern Mutual an “A+” for outstanding financial health, which means it can pay claims. BBB clients report forceful sales practices and restricted hours of service.

Research wisely before choosing Northwestern Mutual as your insurance provider. Doing so means giving your financial requirements to a commission-based agent.

For additional insurance review, check out our review of Lumico Life Insurance Review.

Discover How Much YOU Can Save on Life Insurance

Our customers save as much as 35% compared to traditional life insurance offers…

Compare Quotes →

Avatar photo About the author: David Krug is the CEO/President of PolicyPeak, a modern and tech-driven life insurance company. David noticed a gap in the market for personalized policies at an affordable price. He founded PolicyPeak in 2022 with the goal of simplifying the buying process for consumers and offering policies tailored to their unique needs.