Northwestern Mutual Term Life Insurance Review

  • 2 min read

Founded in 1857, Northwestern Mutual has received an A++ rating from the AM Best Company and is one of the largest private insurers in the world today with annual revenues of almost $28 billion. Based in Milwaukee, many of the term life policies offered can be converted to permanent insurance – often without the need for another medical exam. Through effective corporate partnerships, which includes the NCAA and sponsoring the Rose Bowl Game, this insurer has created stability that is designed to help each person and family develop the foundation they need for their future financial strength – even if the unexpected happens.

Northwestern Mutual offers level or increasing premium plans to meet temporary needs with inexpensive coverage. No decreasing premiums are currently offered. Many of the polices are designed to supplement permanent coverage that is just beginning to build in cash value.

There are two level premium term life insurance products and two annually renewable plans that are offered by Northwestern Mutual.

Level Term 20: This plan offers term life protections with payments that are guaranteed to remain level for 20 years.

Level Term 10: This plan offers up to 20 years of coverage, with the first 10 years of the plan guaranteed to remain level. The premium then resets to a new level for the second half of the policy.

Term 80: This renewable plan has a premium that resets every year, but provides coverage guarantees for a specific period. This plan offers protections up until the age of 80.

Term 10: This plan allows individuals to acquire the coverage that is needed for a period of 10 years only and with higher minimum coverage amounts.

The renewable plans may have rates that reset every year, but applicants will receive a guaranteed maximum rate if their policy is approved that will never be exceeded over the life of the contract.

Unlike other term life insurance providers, you are required to work with a representative to begin the application process. You can either contact your local Northwestern Mutual financial advisor or submit a request online to have someone contact you regarding your life insurance requirements.

View for more information about Northwestern Mutual Term Life Insurance.

Christopher - BSc, MBA

With over two decades of combined Big 5 Banking and Agency experience, Christopher launched Underbanked® to cut through the noise and complexity of financial information. Christopher has an MBA degree from McMaster University and BSc. from Western University in Canada.