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Northwestern Mutual Life Insurance Review

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When you purchase a life insurance policy, you want to be 100% certain that the provider will pay your beneficiaries when/if the time comes.

With so many life insurance companies to choose from, it can be an overwhelming process to find the right carrier. We’re here to make your life easier; our job is to help you find that perfect policy and save you money along the way.

If you are considering a Northwestern Mutual life insurance policy, you’ll find everything you need to know in this Northwestern Mutual Review.

Is Northwestern Mutual A Good Insurance Company?

Northwestern Mutual is certainly one of the more elite life insurance companies, both in product offerings and financial strength ratings.

They have been in business for more than 150 years and successfully weathered many economic storms – from the Great Depression to the more recent recession of 2008.

Through several difficult challenges as a business, they continued to provide quality insurance policies to millions of people across the United States.

If you’re looking for a company and brand that has stood the test of time over several generations, Northwestern Mutual could be the perfect option for you.

Company Ratings

Northwestern Mutual also prides itself on its extremely high industry ratings. These ratings are based upon the companies’ financial strength, as well as on their claims-paying ability, and on their overall operation.

Northwestern Mutual has been awarded the highest financial strength ratings by all four of the major credit rating agencies.

Moody’s Investors Service Aaa
A.M. Best Company A++
Fitch Ratings AAA
Standard & Poor’s AA+

Northwestern Mutual also has a persistency rate of 96% for its life insurance coverage in force. This is seen as being a primary indicator of customer satisfaction.

Life Insurance Products

Northwestern Mutual offers a wide variety of term and whole life insurance policies – including some unique products like the 65/90 life insurance policy.

Northwestern Mutual Whole Life

With this traditional permanent life insurance policy, the coverage is permanent when you pay a level amount of premium until you either reach age 65 or age 90.

The company also offers a type of combination life insurance that actually allows policyholders to mix a permanent life policy with a term component, along with an additional paid-up death benefit.

There is also a guaranteed universal life insurance product that is used primarily in estate planning situations. These policies are useful where a level death benefit and guaranteed premiums are more important than building up a cash value.

Northwestern Mutual Term Life

While Northwestern Mutual does offer term coverage, the company is not very competitive in this particular area. Rates tend to be a bit high on the company’s term life products, which essentially defeats the purpose of going with this type of low-cost coverage.

For many people, a term life insurance policy provides a higher death benefit, while at the same time fitting easily into the budget.

Since Northwestern Mutual is not as competitive for term life insurance, the company tends to promote more of its permanent life insurance products.

If you’re looking for the cheapest term life insurance, Northwestern probably is not going to be the best option. However, if you’re looking for a permanent life insurance option, they are an excellent choice.

There are several different kinds of life insurance policies offered by Northwestern. It’s important to see which type of policy aligns with your preferences to get the most out of the coverage.

  1. Do you want the cheapest policy that you can find?
  2. Would you like a policy that is never going to expire?
  3. Do you want a policy that is going to save you money today, or save you money in the future?
  4. What do you want your family to do with the payout of the policy?

You need to weigh the advantages and disadvantages of each type of policy and see which one fits your needs the best.d

Compare Quotes from Other Top Companies

For those who are seeking lower-cost term life insurance coverage, there are a number of other highly rated life insurers in the marketplace today to consider.

Questions about Northwestern Mutual, or need help finding the best insurance policy for you?

We would be happy to help.

Working with an independent agent has several advantages that you won’t get by going through the process alone. We represent dozens of highly rated companies in the nation. We will do all the necessary scouting to help you obtain quality quotes from companies you trust.

To compare policy rates, use the quote tool on this page or call us at 1-800-712-8519.

Doug Mitchell

Doug Mitchell

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent close to 30 years in the life insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health. Some other notable items about Doug: Top of the Table Million Dollar Round Table member (MDRT). (MDRT is a global, independent association of the world’s leading life insurance advisors) | Premier Partner with Lincoln Financial and Cabinet Member | Served two years as President of the Auburn/Opelika Association of Financial Advisors | Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award | New York Life, Executive Council Member | Currently serves as President of Ogletree Financial, a life insurance General Agency. | Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

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