Northwestern Mutual Life Insurance

Northwestern Mutual Life Insurance Review

Northwestern Mutual life insurance Pros & Cons

Northwestern Mutual is a life insurance carrier based in Milwaukee, WI. The company was founded in 1857 and offers life insurance products in 50 states (and Washington, DC).

Northwestern Mutual life insurance FAQ

What types of life insurance products does Northwestern Mutual offer?

Life insurance companies typically offer a wide variety of life insurance options. One of the best ways to save money on life insurance products is to avoid unnecessary coverage. Only purchase life insurance policies and riders you actually need.

Here is a brief description of life insurance options Northwestern Mutual offers.

• Term Life Insurance - This is the simplest type of life insurance policy. Term life insurance policies are payable if the insured person dies within a specific period of time, such as 5, 10, or 30 years.
• Whole Life Insurance - Whole life insurance policies remain in force for the policyholder's entire life, provided premiums are paid. They have a tax deferred cash value, meaning the cash value will not be taxed until funds are withdrawn.
• Universal Life Insurance - This type of universal life insurance policy guarantees a fixed death benefit and an investment account. The cash value of the investment account will vary depending on the portfolio's performance.
• Variable Universal Life Insurance - These types of universal life insurance policies provides the most flexibility when it comes to investing the cash value of a universal life policy in separate accounts with "variable" values.
• Single Premium Whole Life Insurance - These types of whole life insurance policies lets the policyholder makes one large payment that guarantees a death benefit without the need of further premiums.

As well as the basic coverage types mentioned above, Northwestern Mutual also offers the following life insurance policies:

• Group Life Insurance - Northwestern Mutual life insurance offers some of its life insurance policies as a group benefit to employees who meet certain eligibility requirements, such as having worked for a month in the company. Typically, these term life insurance policies can only be adjusted or purchased after a qualifying life event, such as marriage or the birth of a child, or during an open enrollment period.

What is SuperMoney's financial rating of Northwestern Mutual?

The financial strength rating of life insurance companies scores its ability to pay contracts and life insurance policies. SuperMoney gives Northwestern Mutual an A+, which is the highest available rating we give to life insurance companies.

SuperMoney's financial strength rating is primarily based on the average score from independent insurance rating agencies.