Northwestern Mutual Life Insurance Review [2024]

This Northwestern Mutual life insurance review provides expert analysis of the Northwestern Mutual's term, whole, and universal life insurance policies, plus additional riders offered by this provider. The cost of life insurance with Northwestern Mutual can be as low as $22 for a 20-year term policy.

UPDATED: Jan 6, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Jan 6, 2024Fact Checked

Laura Kuhl

Insurance Content Team Lead

Laura Kuhl holds a Master’s Degree in Professional Writing from the University of North Carolina at Wilmington. Her career began in healthcare and wellness, creating lifestyle content for doctors, dentists, and other healthcare and holistic professionals. In 2018, she started writing for the cannabis industry. She curated news articles and insider interviews with investors and small business ...

Insurance Content Team Lead

Jimmy McMillan

Licensed Life Insurance Agent

Jimmy McMillan is an entrepreneur and the founder of HeartLifeInsurance.com, an independent life insurance brokerage. His company specializes in life insurance for people with heart problems. He knows personally how difficult it is to secure health and life insurance after a heart attack. Jimmy is a licensed insurance agent from coast to coast who has been featured on ValientCEO and the podcast...

Licensed Life Insurance Agent

UPDATED: Jan 6, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

UPDATED: Jan 6, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Jan 6, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Jan 6, 2024Fact Checked
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Northwestern Mutual

Average monthly rate for healthy individuals:

N/A

A.M. Best rating:

A++ (Superior)

Complaint level:

Low

Pros

  • Few customer complaints based on its size
  • Great ratings with JD Power and A.M. Best
  • Several coverage options and riders

Cons

  • Little information available on company website
  • Only two rider options for term life insurance
  • No online quotes

Final Verdict: Review of Northwestern Mutual

Northwestern Mutual offers term, whole, universal, and variable universal life insurance plans. Northwestern Mutual earns praise for its superior customer service but lacks online options and rider availability.

To learn more about how life insurance works and if this company is right for you, read our Northwestern Mutual life insurance review below.

What You Should Know About Northwestern Mutual

Northwestern Mutual is a solid choice for both term and permanent life insurance. However, you’ll need to speak with a representative to get a quote – there is no online option.

Currently, there are four policy options from Northwestern Mutual: term, whole, universal, and variable universal life insurance.

Northwestern Mutual insurance quotes tend to be affordable for the average applicant. Since the company is a mutual and therefore owned by policyholders, Northwestern sometimes pays life insurance dividends on certain plans.

Pros and Cons of Northwestern Mutual Life Insurance

When you buy a Northwestern Mutual life insurance policy, you’ll benefit from the following:

  • Northwestern Mutual life insurance’s customer service ratings are excellent
  • Some policyholders receive dividends when the company does well
  • No-medical-exam options available

Although Northwestern Mutual is a good choice for life insurance, it might not be the best for everyone. Before signing up, consider the following disadvantages:

  • Northwestern Mutual term life insurance riders are limited
  • No online option for quotes
  • Little available policy information online

While you can’t get whole or term life insurance quotes online, you can file a Northwestern Mutual life insurance claim using the website.

Northwestern Mutual Customer Service and Financial Ratings

Northwestern Mutual has excellent ratings from most third-party companies, including a superior A++ from A.M. Best for its financial stability. See how Northwestern Mutual’s financial stability compares to similar life insurance companies below.

Northwestern Mutual's Financial Ratings
CompanyRating
Northwestern MutualA++ (Superior)
Lincoln FinancialA+ (Superior)
Mutual of OmahaA+ (Superior)

The National Association of Insurance Commissioners (NAIC) rates companies by the number of complaints they receive compared to their size.

Northwestern Mutual consistently receives low scores, meaning it receives fewer complaints than similarly-sized competitors. For example, Northwestern Mutual’s NAIC rating for 2022 is 0.03.

Finally, J.D. Power rates Northwestern Mutual’s overall customer satisfaction much higher than the national average.

Northwestern Mutual Insurance Coverage Options

Northwestern Mutual offers four main types of policies, each with its own age restrictions and coverage limits. Explore Northwestern’s primary coverage options below.

Northwestern Mutual Life Insurance Policies, Coverage Limits, and Age Restrictions
Policy TypeCoverage LimitAge Restrictions
TermStarting at $100,000No age restriction
Whole LifeStarting at $50,000Birth to age 85, ages vary by premium-paying period
Universal LifeStarting at $500,00018-85 years old
Variable Universal LifeNot specifiedNot specified

You have additional options depending on the type of policy you want to purchase. For example, Northwestern Mutual offers four types of term life insurance. If you’re interested in a Northwestern Mutual whole life insurance policy, there are three plans to choose from. Check below to see which plan might be best for your needs.

Northwestern Mutual's Life Insurance Policies
Policy TypeDescription
Term 80Premiums increase with age but are guaranteed to be level for the first five years of the policy.
Term 10Premiums increase with age but are guaranteed to be level for the first five years of the policy.
Level Term 10Offers set rates for a 10-year term period.
Level Term 20Offers set rates for a 20-year term period.
Whole Life OneFixed premiums, guaranteed cash value accumulation with low risk.
Whole Life PlusFixed premiums, guaranteed cash value accumulation with low risk.
Custom Universal LifeOffers lifetime coverage and cash value. Available for buyers ages 18 to 85. Minimum death benefit is $500,000.
Single Premium Univ. LifeHas only a single premium payment. Minimum death benefit is $50,000. Available to people up to age 85.
Variable Univ. Life PlusOffers cash value investments, death benefit options, and the flexibility to vary premium amounts and frequency of payment.

Many life insurance companies offer riders to increase the value of your policy, and Northwestern Mutual is no different. Northwestern Mutual lists the following four riders available for its life insurance policies.

Northwestern Mutual's Life Insurance Riders
Rider TypeDescription
Waiver of PremiumWaives premiums if the policyholder becomes totally disabled.
Accelerated Death BenefitAllows for the policyholder to receive an advance on the death benefit if diagnosed with a terminal illness.
Children’s Level TermOffers term life insurance coverage for policyholder’s children.
Long-term care riderCovers costs associated with long-term care.

Keep in mind that some riders might not be available for every policy, so make sure to check with a representative before you purchase a policy.

How to File a Northwestern Mutual Claim

Although Northwestern Mutual has excellent customer service reviews and affordable rates, it struggles with its online options. However, you can start a claim online, regardless of the type of insurance you have.

To start a Northwestern Mutual life insurance claim, complete the online claim form on the company’s website. The form requires information like the policy number, the name of the insured, and the cause of death.

To speed up the claims process, you can email the claims department a copy of the death certificate.

Alternatively, you can call the claims phone number at –800-635-8855 during business hours.

Northwestern Life Insurance Online Offerings and Mobile App

Unfortunately, Northwestern Mutual doesn’t offer many other online options. For example, if you’re looking for how to cancel Northwestern Mutual life insurance or look at term life insurance quotes, you’ll need to speak with a representative.

Northwestern Mutual also has an app that can be used to look at your policy details and make monthly payments.

Your life insurance quotes are always free.

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Northwestern Mutual Insurance Rates Breakdown

The cost of life insurance with Northwestern Mutual depends on several factors, including your age, gender, lifestyle, and how much coverage you want. When you’re figuring out how to buy life insurance, keeping these factors in mind can help you find low prices.

Although life insurance rates vary by age and gender, Northwestern Mutual tends to have affordable prices. Consider Northwestern’s average rates below.

Northwestern Mutual Life Insurance Average Rates
GenderAgeCoverage AmountMonthly Cost
Female35$500,000$22
Male35$500,000$26

Remember, these prices are only averages – you’ll see different rates depending on how much coverage you want. For example, it’s important to calculate your term life insurance needs before signing up for a policy to avoid overpaying.

Northwestern Mutual Discounts Available

Northwestern Mutual does not mention discounts for any life insurance plan on its website.

How Northwestern Mutual Ranks Among Providers

Northwestern Mutual is a solid choice for insurance, especially if excellent customer service and affordability are important to you. However, it’s not always the best option for everyone.

Currently, Northwestern Mutual does not offer a no-medical-exam option. Additionally, people who want a more tech-savvy experience should consider other companies. Finally, you should look elsewhere if you want a variety of riders to customize your policy with.

Comparing rates with multiple companies is always essential, no matter what you’re looking for. You might overpay if you don’t compare Northwestern Mutual quotes with its competitors like Lincoln Financial or Mutual of Omaha.

Frequently Asked Questions

Is Northwestern Mutual life insurance available in my state?

Northwestern Mutual life insurance is available in all 50 states.

What does Northwestern Mutual life insurance cover?

What Northwestern Mutual’s life insurance policy covers depends on the plan you purchase. However, you can expect that your policy will pay your beneficiary upon your death.

Is Northwestern Mutual life insurance cheaper than average?

Northwestern Mutual life insurance quotes tend to be average, but the exact amount you’ll pay depends on several factors.

Does Northwestern Mutual offer life insurance discounts?

There are no Northwestern Mutual life insurance discounts listed on its website.

What do policyholders have to say about Northwestern Mutual life insurance?

Northwestern Mutual life insurance holders tend to speak positively about the company’s customer service. Common complaints center around the company’s lack of online options.

Are there medical conditions that Northwestern Mutual life insurance excludes?

The Northwestern Mutual life insurance website does not list any medical conditions it excludes. However, it does not offer no-exam life insurance, so buying a policy with certain medical conditions might be difficult.

What riders does Northwestern Mutual offer?

You can purchase four Northwestern Mutual life insurance riders: waiver of premium, accelerated death benefit, children’s level term, and a long-term care rider.

Can I borrow from a Northwest Mutual life insurance policy?

You can borrow against your Northwestern Mutual life insurance policy if you have a whole, universal, or variable universal plan and its accrued cash value.

Your life insurance quotes are always free.

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Laura Kuhl

Insurance Content Team Lead

Laura Kuhl holds a Master’s Degree in Professional Writing from the University of North Carolina at Wilmington. Her career began in healthcare and wellness, creating lifestyle content for doctors, dentists, and other healthcare and holistic professionals. In 2018, she started writing for the cannabis industry. She curated news articles and insider interviews with investors and small business ...

Insurance Content Team Lead

Jimmy McMillan

Licensed Life Insurance Agent

Jimmy McMillan is an entrepreneur and the founder of HeartLifeInsurance.com, an independent life insurance brokerage. His company specializes in life insurance for people with heart problems. He knows personally how difficult it is to secure health and life insurance after a heart attack. Jimmy is a licensed insurance agent from coast to coast who has been featured on ValientCEO and the podcast...

Licensed Life Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

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