If you are planning your estate, life insurance is often a critical part of the plan. Buying life insurance is a great way to take care of your loved ones after you are gone. Many companies sell life insurance, and Northwestern Mutual Life Insurance Company is among the top rated companies.

Take a closer look at the Northwestern Mutual insurance products available.

Mutual North West Life Insurance

Northwestern Mutual Life Insurance Company offers a variety of life insurance policies. Northwestern Mutual is a mutual company, which means it is owned by policyholders rather than shareholders. Each year, the remaining profits are returned to policyholders in the form of dividends. They can be taken in cash, used to increase the amount of death benefits or to pay premiums. Annual dividends are not guaranteed, but Northwestern Mutual has paid them annually for almost 150 years.

Types of life insurance policies offered

• Lifetime : This type of life insurance provides a fixed death benefit for a predetermined period, usually between 10 and 30 years. The premiums stay the same throughout the term, but increase based on how old you are at the time of renewal if you want to keep the contract. Companies like Northwestern Mutual allow you to convert some or all of your term death benefit to permanent life insurance before the end of the term.
• All the life : Whole life insurance provides permanent coverage for the same price throughout your life. This policy is more expensive than term life insurance, but it also has a cash value component. You can allow the cash value to increase over time in an interest-bearing account to use tax deferred in the future.
• Single premium universal life: Universal life insurance offers permanent coverage like a whole life, but you have more flexibility. You can adjust the death benefit and the premium, subject to the minimums set out in your policy. With a single premium universal life insurance policy, you pay a hefty premium and never have to make payments again.
• Personalized universal life: This type of tailor-made universal life insurance offers more flexibility than the single premium policy. With a single premium, you may need to make additional payments if you change your policy. With personalized universal life insurance, you get the highest level of flexibility while creating tax-deferred cash value.

Where does Northwestern Mutual operate?

You can buy life insurance from Northwestern Mutual Life Insurance Company in all 50 states and Washington, DC Northwestern Mutual is not licensed to sell life insurance in the following jurisdictions:

• American Samoa
• Guam
• Northern Mariana Islands
• Porto Rico
• US Virgin Islands

Northwestern Mutual Ratings, Reviews, Customer Satisfaction and Complaints

The reviews from Northwestern Mutual customers are impressive. The company ranks among the best on several third party scales for financial stability and customer satisfaction.

Northwestern Mutual has the highest possible financial strength rating from AM Best. An A ++ (higher) rating means the business is very likely to pay claims, which is important when you consider the average amount of life insurance payments. It also enjoys a superior credit rating of Aaa from Moody’s and AA + with ratings from Standard & Poor’s (S&P), thus proving the solvency and financial strength of the company.

In the 2020 JD Power US Life Insurance Study, Northwestern Mutual ranked among the best in customer satisfaction for individual policies. On a 1,000-point scale, Northwestern Mutual ranks fourth with 790 points, far exceeding the average of 763 points.

Reasons Northwestern Mutual is a good option

Northwestern Mutual offers several options for life insurance coverage, even for smokers and the elderly. Based on customer reviews and third party vendor ratings, Northwestern Mutual is a leading life insurance company. However, you cannot get a quote online and must go through an authorized Northwestern Mutual representative to get a policy. You will also need to pass a medical exam to get approved for life insurance, which can deter people with serious health issues.

With the flexibility offered by converting term insurance to permanent insurance and several universal life insurance options, Northwestern Mutual could be a good choice for those planning their estates or needing coverage to leave for their family. when they left. Your family could grow and change with your Northwestern Mutual life insurance policy.

Additional policies offered by Northwestern Mutual

In addition to high quality life insurance products, Northwestern Mutual offers:

• Annuities
• Disability insurance
• Dependence insurance

Frequently Asked Questions

What is the best life insurance company?

The best life insurance company meets your specific needs at an affordable price. Based on Northwestern Mutual’s ratings and reviews, this may prove to be an option to consider, although it is worth considering multiple providers before making a selection. Weigh what other insurers have to offer by checking out how other life insurance companies fare in the market.

Will I need a medical exam with Northwestern Mutual?

You will need a medical exam for a life insurance policy with Northwestern Mutual, but you can still convert your term policy to a permanent policy without needing an additional medical exam.

What is a life insurance dividend?

Insurance companies with the term “mutual” in their name belong to the insured. Buying a life insurance policy from a mutual company means that you are a part owner of the business and could receive an annual dividend, which is a portion of the profits going to the owners of a business. . Northwestern Mutual has paid dividends annually for almost 150 years.