Northwestern Mutual Life Insurance Review

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Variety in the choices of plans provides valued services in addition to dividend potential. Northwestern Mutual acclaims its top spot among the list of insurance companies by providing series of financial products and deals to customers globally.

Whichever plan you choose from the broad range of its options, you are guaranteed to increase your cash value with time. However, the purchase is only possible through the services of a valid representative.

Pros Northwestern Mutual Life Insurance

  • Available in all 50 states
  • Wide range of coverage deals
  • Term-to-universal conversion policy options are available
  • Every policy type offers you a dividend
  • Remarkable repo in terms of consumer and financial strength rating

Cons Northwestern Mutual Life Insurance

  • Obscure digital information
  • Purchasing is possible through an agent solely
  • Quote tool and coverage estimation facility benefits only to an extent
  • Often, candidates have to qualify for a medical 

Available Plans

Ignoring the fact that the life insurance plans by Northwestern Mutual are not publically displayed, yet there are plenty of options to opt from. Some of them are listed below:-

Level Term 20

With a constant coverage of 20 years and level premiums, Level Term 20 classifies as one of the old-fashioned term life insurances.

Level Term 10

Level Term 10 extends for 20 years, with its premium duration divided into two equal phases. After the first ten year period, the second phase initiates with a re-estimation of premium considering factors such as your age and others. 

Term 10

Term 10 comes with annual renewable coverage of up to 10 years. In addition, the premiums can be expected to grow each year.

Term 80

Term 80 pis term life insurance available with renewability of up to the age of 80. Higher premiums renew coverage each year. 

65 Life

65 life classifies as the whole life insurance policy that provides level premiums until 65. Beyond this limit, coverage exists, but premiums do not. 

90 Life

90 life is similar to 65 life with a difference of age limit, which corresponds to 90 in this particular plan.

Available Riders

Insurance companies often provide the facility of modifying your policies through available riders. Riders offer advantages like added coverage, protections, etc. However, they are not valid on every policy.

Waiver of Premium Rider

Suppose an accident or any unfortunate event prevents you from paying premiums. In that case, this rider waives these due payments for six months or more.

Additional Purchase Benefit

The APB scheme allows you to buy secondary life insurance at particular times. In addition, this facility doesn’t require further medical exams or new insurability proofs. Coverage limits can be extended beyond your existing amount on policy anniversaries around 22nd, 25th, 28th, 31st, 34th, 37th, and 40th birthdays. Acceptance of additional coverage opportunities is not mandatory.  

Accelerated Care Benefit

The use of ACB is limited to a few selected Northwestern Mutual Policies. You can utilize a definite, pre-decided portion of your policy value if you require long-term care. It also reserves an amount of death benefit for beneficiaries. 

Customer Service

The telephone is the sole option available in customer service nowadays in Northwestern Mutual. The timings specified by the representatives are Monday through Friday, 7:00 a.m. to 6:00 p.m. CT by calling (866) 950-4644.   

The digital platform of the company can also benefit you in case you are an existing customer. Modification of your policy is also possible through this online portal. At last, the agents are always online for your queries, questions, or specific requests.

Complaint Index

NAIC (National Association of Insurance Commissioners) creates an annual complaint Index for every insurance company and forwards it. Complaints submitted to a company yearly are mentioned in this Index. Further, the comparison of the number with the industry is also performed. 

1.00 is generally the average complaint index expected for a company. However, suppose the performance exceeds this number. In that case, it only depicts that the complaints submitted are more than expected for a company of this size. On the contrary, scoring less than one interprets to few complaints submitted depending on the company’s size.

0.05 was the complaint Index score of Northwestern Mutual in 2020. To be precise, the exact number of complaints was 8 for the whole year.  

Third-Party Ratings

J.D. Power placed Northwestern Mutual on the 4th spot in its U.S. Life Insurance Study of 2020. Out of 1000 points, Northwestern Mutual was rewarded 790. The factors considered for the ranking were overall customer satisfaction, communication, products, and pricing, etc. 

With some of the best financial strength ratings collected from AM Best (A++ or Superior), Moody’s (Aaa), and Fitch (AAA), Northwestern is one of the top companies available. According to these organizations and their ratings, Northwestern is qualified to pay all the future claims approved by it.  

Cancellation Policy 

Northwestern Mutual has set different norms and regulations regarding cancellation for different policies. Therefore, carefully read all the terms and conditions specified or clear your inquiries with your consultant so that you are sure about your choices. 

Hence, a few taxes are liable to be implied upon you. In case you surrender your policy with accumulated cash value. The said cash value can be received either in a single sum or divided into a series of scheduled payments. In addition, administrative fees may be imposed upon you too. Cancellation of specific policies may be performed under the duration of a few days, along with a full refund. For example, the variable Universal Life Plus Policy offers you this exact facility with a duration of 10 days and no penalty imposed.


The digital price estimation calculator offered by Northwestern Mutual, as mentioned above, fails to provide you extensively. For example, valuable suggestions related to coverage and an expected price range; besides these, exact prices are not available.

For that, you will have to consult an agent who will assist you in pursuing your best interests. For more Insurance Reviews keep visiting Our website.

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