Northwestern Mutual Life Insurance Review

Life insurance is more affordable because of Northwestern Mutual, which offers coverage to more people, including smokers and older citizens. It also has flexible payment options, but you’ll almost certainly have to undergo a medical test and speak with an agent in order to obtain coverage via this company. For additional information, here’s a Northwestern Mutual Life Insurance Review.

Northwestern Mutual offers a wide range of life insurance products, including term, whole, universal, and variable. When Northwestern’s board of directors declares dividends on its permanent life insurance policies, some policyholders may be able to collect the cash value that their policies have built up. Term and permanent life insurance can be purchased from the same provider.

Northwestern Mutual life insurance rates

Northwestern Mutual Life Insurance Review - Northwestern Mutual Life Insurance Logo

It rewards near-perfect health with the best rates available on all of Northwestern Mutual’s policies as part of its “preferred” class. To be fair, this supplier doesn’t tell you how to get these prices as its rivals do. Ask a Northwestern Mutual agent whether you’re eligible for lower interest rates.

What affects my rate with Northwestern Mutual?

General qualifying requirements include the following:

  • Smoking history that is either modest or nonexistent.
  • Neither alcohol nor drugs have ever been a problem.
  • Unspecified illness or impairment-free personal and family medical history.
  • The absence of any driving infractions, suspensions, or other penalties.
  • A normal blood pressure and BMI are good indicators of good health.
  • Low-risk work or pastimes.

How to get a quote from Northwestern Mutual life insurance

Northwestern Mutual does not offer online rates or applications, however you can be connected with an agent.

  1. On Northwestern Mutual’s main life insurance page, click Let’s Talk to speak with an agent.
  2. The next step is to enter some basic personal information so that an agent may be assigned to you. You can also use the search bar to look for a specific agent by entering the agent’s name and location and clicking Search.
  3. Enter your information and click Get Matched if you aren’t looking for a specific agent.
  4. A financial expert will contact you shortly after you submit your information to go through your life insurance alternatives.

What types of life insurance coverage does Northwestern Mutual offer?

  • Term life. Term life insurance products from Northwestern Mutual protect you for a specified amount of time, such as 10 or 20 years, or until you reach a specified age. During certain conversion periods, some term plans can be converted to permanent life insurance policies. Acceptance is assured, and there are no medical examinations or underwriting procedures to go through before you may get approved.
  • Whole Life. A Northwestern Mutual whole life insurance policy includes a set premium, a death payment that is guaranteed, and living benefits. It is possible to access the cash value that accumulates in your insurance at any moment throughout your life to aid with retirement expenses and/or help out elderly family members.
    Whole life insurance dividends given by Northwestern Mutual aren’t guaranteed, yet the firm has been paying them since 1872. According to the corporation, dividends will be $5.6 billion in 2019. Also, dividends can be reinvested into your insurance to accelerate the accumulation of cash value.
  • Universal. A universal life insurance policy, on the other hand, combines the cash value accumulation of whole life with the ability to set premiums and payment schedules at your convenience. You have discretion over the amount and frequency of your premiums as long as your policy reserves include enough cash value. Alternatively, you can pay a one-time, lump-sum fee to cover all of your needs.

What riders can I add to my policy?

For the most part, Northwestern Mutual makes it difficult to find all of the coverage options it offers on the web. An advisor can help you customize your plan based on your individual requirements. Depending on your life insurance policy, you may be able to add the following riders:

  • Child rider. The term life insurance for your children can now be added.
  • Rider for disability income. Assuming you become totally handicapped, this benefit provides additional income.
  • Rider waiving premium fees. If you become handicapped or lose your income as a result of a sickness or injury, you will not be responsible for paying your premiums any longer if you have this benefit.

Northwestern Mutual life insurance reviews and complaints

A+ for openness, competence, and complaints from the Better Business Bureau despite Northwestern Mutual’s lack of accreditation.

A.M. Best, the most affordable prices In terms of financial strength, Northwestern Mutual is rated A++, indicating that it can meet its claims obligations. Customers have complained about pushy sales methods and short customer service hours in their BBB evaluations.

If you’re thinking about getting insurance from Northwestern Mutual, do your homework first so you know what kind of coverage you need. Otherwise, you run the danger of entrusting your financial well-being to a salesperson compensated on a commission basis.

Can I Cancel my policy?

Yes. If your insurance has only been in effect for a few days, you may be eligible for a return of your premium, depending on the “cooling off” period in your state.

Call a Northwestern Mutual representative to learn about your cancellation options and any associated penalties for older policies.

For another life insurance review, visit our review of North American Life Insurance Review.

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Levi Jorgensen
Levi Jorgensen is a life-long explorer. When he's not writing about life insurance, he works as an appraiser of antiques. He's based in Columbus, Ohio with his wife and 2 children.
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