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- Northwestern Mutual offers several types of life insurance.
- The company’s other financial products, like long-term care insurance and financial planning, may be appealing to some customers.
- Northwestern Mutual offers fewer riders than many competitors, which could limit opportunities to customize your policy.
Northwestern Mutual Insurance, which was founded in 1857, offers an array of financial planning products and services, including college planning, estate planning, life insurance, and long-term care insurance. The company is highly rated with J.D. Power and offers several life insurance products. Reviews.com analyzed Northwestern Mutual life insurance to help you decide if the products fit your needs.
Northwestern Mutual Insurance Overview
|J.D. Power Customer Satisfaction Score*||807/1,000|
|AM Best Financial Strength||A++ (Superior)|
*Based on J.D. Power’s 2021 Individual Life Insurance Study
Northwestern Mutual Life Insurance
Northwestern Mutual life insurance is highly rated by J.D. Power, earning the third-highest ranking in the 2021 Individual Life Insurance Study. The company offers an array of life insurance products, including whole life and term life, as well as two kinds of universal life insurance. Northwestern Mutual also offers financial planning, which may help you reach your long- and short-term money goals.
However, despite Northwestern Mutual’s extensive list of life insurance products, the coverage might not be right for everyone. Only a few riders are available for each policy type, which means fewer opportunities to tailor your coverage to your needs. Additionally, Northwestern Mutual doesn’t offer any guaranteed issue life insurance, which means that those with certain medical conditions may not be eligible for coverage.
Strengths: Several types of life insurance offered, financial planning services available, highly-rated service according to J.D. Power
Restrictions: Fewer riders than some competitors, no guaranteed issue products available
Frequently Asked Questions
It depends on what you are looking for in a life insurance carrier. Northwestern Mutual receives a high customer satisfaction score from J.D. Power and an A++ (Superior) financial strength score from AM Best. Those factors indicate that the company is focused on service and is financially strong. However, Northwestern Mutual doesn’t appear to offer any guaranteed issue products and has fewer customization options than some other life insurance companies, so it might not be the best option for everyone.
A mutual company means that the company doesn’t have shareholders. Instead, each policyholder technically owns part of the company by buying a product. Mutual companies are in contrast to stock companies, which are owned by shareholders.
Northwestern Mutual has local offices with financial advisors and life insurance agents who can help you craft a portfolio that fits your needs. You can use the company’s “Find a Financial Advisor” tool to find someone who can help you reach your financial goals.