Northwestern Mutual Life Insurance Review

Should You Buy Northwestern Mutual Life Insurance?

Because Northwestern Mutual Life Insurance offers coverage to higher-risk individuals, such as pensioners and smokers, the company makes life insurance more accessible. It also provides flexible payment plans, but in order to be eligible for coverage, you will most likely need to undergo a medical exam and speak with an insurance representative.

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Northwestern Mutual offers a variety of life insurance products, including term, whole, universal, and variable. Permanent life insurance plans accumulate cash value, with some policyholders being eligible to earn dividends if and when the Northwestern Mutual board of directors declares a payout.

As an alternative, the organization provides choices that incorporate the advantages of both term and permanent life insurance plans.

If there are any gaps in Northwestern Mutual’s product offerings, or if you prefer a more straightforward signup procedure, search around and compare alternative life insurance companies to Northwestern Mutual.

Northwestern Mutual Life Insurance Rates

When you are in virtually perfect health, Northwestern Mutual’s “preferred” class rewards you with the lowest rates offered across all of its policies.

Nevertheless, unlike its competitors, this supplier does not make it clear how you might qualify for these low prices. For additional information about whether or whether you qualify for preferential pricing, speak with a Northwestern Mutual advisor.

Getting A Northwestern Mutual life insurance Quote

Unfortunately, Northwestern Mutual does not offer online quotes or application, but you may request to be paired with an agent.

  • To locate an agent, visit Northwestern Mutual’s main life insurance page and select Let’s Talk.
  • Following that, you’ll be prompted to give some basic personal information in order to be matched with an agent. Alternatively, if you’re looking for a specific agent, enter the agent’s name and location and click Search. If you haven’t selected an agent yet, enter your information and click Get Matched.
  • Within a few days of submitting your information, a financial expert will contact you to explore your life insurance alternatives.

What types of life insurance coverage does Northwestern Mutual offer?

  • Term life. Northwestern Mutual’s term life insurance plans give protection for a specified length of time, such as ten or twenty years, or until a specified age. During certain conversion periods, certain term plans can be converted to permanent life insurance policies. Acceptance is assured, and no medical examinations or underwriting are necessary.
  • Whole life. A whole life insurance policy from Northwestern Mutual includes a set premium, a guaranteed death payment, and living benefits. Throughout your career, you can utilize the cash value in your policy to help pay for a down payment on a home, supplement your retirement income, or assist aged family members. Northwestern Mutual’s whole life insurance dividends are not guaranteed, despite the fact that the firm has paid them out since 1872. Dividends are likely to equal $5.6 billion in 2019, the business estimates. Additionally, you can reinvest dividends in your insurance to accelerate the accumulation of cash value.
  • Universal life. A universal life insurance policy, on the other hand, combines the cash value accumulation of whole life with the flexibility of variable premiums and payment schedules. As long as the cash value in your policy reserves is sufficient, you can determine the amount and frequency of your premiums. Alternatively, you can pay a one-time lump fee for coverage.

Which riders may I include in my policy?

Northwestern Mutual makes it difficult to ascertain the complete variety of riders available online. Rather than that, you’ll need to consult with an agent to customize your plan to meet your unique needs. Available riders vary according to your life insurance policy, but may include the following:

  • Child rider. This enables you to supplement your life insurance coverage with term life insurance for your children.
  • Disability income benefit rider. If you become fully incapacitated, this benefit provides additional income.
  • Waiver-of-premium rider. If you are wounded or suffer a loss of income as a result of an injury or illness, you will no longer be obligated to make insurance payments under the terms of this clause.

Northwestern Mutual life insurance reviews & customer support

Despite the fact that Northwestern Mutual is not recognized by the Better Business Bureau, the BBB gives it an A+ rating based on factors such as transparency, expertise, and complaints.

A.M. Best rates Northwestern Mutual A++ for exceptional financial health, indicating that it will be able to pay out on its claims. On BBB, customers complain about pushy sales methods and limited customer service hours.

If you’re contemplating Northwestern Mutual, do your homework before so you know what kind of insurance is appropriate for you. Otherwise, you risk putting your financial requirements in the hands of a commission-based agent.

Check out our other life insurance reviews

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Greg Thomas
Greg Thomas is a raving fan of sports cars. He's a Senior Editor at b5media where he manages our vehicle model research and our entire publishing operation. He lives in San Jose, CA with his wife and 3 daughters.
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