You've worked hard to build a life you enjoy with the people you love, now it's time to protect it all. You won't have to wonder how much or what type of life insurance you need, we make it easy.
Since everyone's situation and goals are different, our policies are designed differently, too. Depending on what you need, our life insurance can simply be your safety net from the unexpected, or it can be the foundation of a smart financial plan, giving you more financial flexibility for the things that are important during your life like paying for college, growing your business, and having more income in retirement.
At Northwestern Mutual, our advisors base their recommendations on your priorities and what you can afford—so you get only the insurance you need, and nothing you don't.
How much life insurance is right for you?
Life insurance is simple. You make reoccurring payments (your premium), and we pay a set amount of money, tax-free, to whoever you choose (your beneficiaries), including your favorite charities if you want, when you pass away.
Life insurance helps cover expenses like a mortgage, debts, your kids' tuition, even replacing lost income when you're no longer here. Depending on the type you get, it can be the foundation for a sound financial plan and help with expenses during your life.
Life insurance offered through your employer usually won't give you the coverage amount you may need, and the rates may go up year after year costing you more over time. Plus, if you ever leave your job, you can't take your coverage with you.
You may be eligible for our exclusive underwriting process that uses the power of data to speed up decisions and eliminate the need for detailed medical records so you can get your life insurance application approved as soon as the same day. 1
There are many factors that can affect the cost of an insurance policy. That's why we value working with you to fully understand your situation, needs, and budget, to recommend the best options for you. In general, what you pay monthly (or yearly) will depend on things like the type and amount of life insurance you get, your age, health, and if you decide to add any riders that might make sense for your situation and goals.
Be protected your entire life 2 and build cash value that's guaranteed to grow no matter which way the markets go. Use it for anything like helping to pay for your kids' college, upgrading your home, expanding your business, or as additional retirement income. 3
Have coverage that lasts your whole life 2 and gives you more flexibility now and down the road—letting you change your payment amount (premiums) and schedule 4 to fit your life and budget, while still giving you benefits you can use throughout your life.
You'll get lifelong protection with variable universal life, plus you get to choose how you want your policy's cash value to be invested in the markets 5 so you can have the chance to boost its growth over time.
This is the simplest way to get started with life insurance. Term life covers you for a set amount of time such as 10, 15, or 20 years, and once that term ends, so does your policy. But if your needs change along the way, you'll have an opportunity to switch to lifelong coverage.
To compare insurance products, select any two below.
We value working with you to fully understand your needs and give you an accurate quote. Our advisors will recommend the right life insurance for you, and how much you may need, to keep you and your family financially sound if the unexpected happens. Talk to an advisor about your needs.
It's simple. Term life is an affordable way to have the protection you want for a set amount of time. You determine the right amount of coverage you need (with the help of your advisor), then you figure out how long you need coverage for and choose from the available periods. But once that time is up, so is your coverage. Looking for coverage that's more permanent? Our whole life insurance lasts your entire life and has other benefits that you can use along the way.
There are four kinds of life insurance that can give you the protection you need: term life insurance, whole life insurance, universal life insurance, and variable universal life insurance. Term life only covers you for a specified amount of time, while whole, universal, and variable universal life insurance all have lifelong coverage. Whole, universal, and variable universal builds cash value over time 3 that you can use for whatever you need, whenever you need it. And whole life can earn dividends that can be taken as cash, used to pay premiums, or buy more coverage. Ask an advisor which type of life insurance will be best for you.
Yes. With whole life, you could earn dividends 6 that can be taken as cash, used to pay premiums, or buy more coverage. While whole, universal, and variable universal life builds cash value over time that you can use for anything throughout your life.
We promise to pay who you name (beneficiaries) a set amount of money when you're no longer here, and you in return, promise to make regular payments (premiums). We have three types of permanent life insurance to fit your needs: whole, universal, and variable universal. Not only will you have lifelong coverage, as you make payments, you'll build cash value (tax-deferred) that you can use for anything you wish. 3 And with whole life, you can also earn dividends (while not guaranteed, we've paid them every year since 1872) that can be taken as cash, used to pay premiums, or buy more coverage. Ask an advisor if permanent life insurance is a good option for you.
The best type of life insurance for you will depend on your needs and goals. Our life insurance can simply be a safety net from the unexpected (i.e. term life insurance), or it can be the foundation of a holistic financial plan (i.e. whole life insurance, universal life insurance, or variable universal life insurance), giving you more financial flexibility for things like paying for college, growing your business, or having more income in retirement. Not sure which kind of life insurance is best for you? That's ok. Our advisors can help you figure it out.
Everyone's insurance needs are different, so it's important to work with you to fully understand your needs. The first step is to get matched with the right advisor. And the first thing they'll do is ask questions to understand which type of coverage (and how much) is right for you. Before issuing a policy, you'll need to answer some questions about your health and lifestyle. This will help us determine if you're qualified and figure out how much your premiums will be based on your health.
A rider is an optional benefit or feature you can add to your life insurance policy for an additional cost. No matter if it's whole life, universal life, variable universal life or term life insurance, we have a specific rider available. Here's what you can consider:
Check out all of our available insurance riders. Or talk with an advisor about which rider or riders might best fit your goals.
Best life insurance company for consumer experience, 2023 7
Ranking for Northwestern Mutual Investment Services LLC, ©2017–2024 and TM, NerdWallet, Inc. All Rights Reserved.AAA, Aaa, and AA+—we've earned the highest financial strength ratings awarded to life insurers from all four major rating agencies. 8
Awarded in the Insurance category: Life & Health industry, Fortune® Magazine's annual survey, 2017in dividends expected to be paid in 2024 6
Statistic for Northwestern Mutual, Dividends are reviewed annually and are not guaranteed. based on Northwestern Mutual policyowner data.
Our advisors will help you find the right type, and amount, of life insurance for your goals and budget.
It's easy to get started—no commitment, just a conversation.
1 Some clients will need additional underwriting requirements.
2 Assumes that all premiums are paid. The amount of your payments will directly affect your policy's cash value, as well as your ability to maintain coverage in the future.
3 Your policy's cash value typically becomes a useful source of funds only after several years of premium payments, which allows the cash value to build up. Each method of utilizing your policy's cash value has advantages and disadvantages and is subject to different tax consequences. Surrenders of, withdrawals from and loans against a policy will reduce the policy's cash surrender value and death benefit and may also affect any dividends paid on the policy. As a general rule, surrenders and withdrawals are taxable to the extent they exceed the cost basis of the policy, while loans are not taxable when taken. Loans taken against a life insurance policy can have adverse effects if not managed properly. Policy loans and automatic premium loans, including any accrued interest, must be repaid in cash or from policy values upon policy termination or the death of the insured. Repayment of loans from policy values (other than death proceeds) can potentially trigger a significant tax liability, and there may be little or no cash surrender value remaining in the policy to pay the tax. If loans equal or exceed the cash value, the policy will terminate if additional cash payments are not made. Policyowners should consult with their tax advisors about the potential impact of any surrenders, withdrawals or loans.
4 Subject to age, insurability requirements, limits mandated by tax code and a minimum cash value to cover policy expenses.
5 All investments carry some level of risk. No investment strategy can guarantee a profit or protect against a loss.
6 Dividends are reviewed annually and are not guaranteed. Some policies may not receive dividends in a particular year or years even while other policies receive dividends. For universal life products, in lieu of dividends, experience is reflected through changes to nonguaranteed charges and credits.
7 ©2017–2024 and TM, NerdWallet, Inc. All Rights Reserved.
8 Northwestern Mutual continues to have the highest financial strength ratings awarded to any U.S. life insurer by all four of the major rating agencies: A.M. Best Company, A++ (highest), 8/23; Fitch Ratings, AAA (highest), 8/23; Moody's Investors Service, Aaa (highest), 11/23; S&P Global Ratings, AA+ (second highest), 5/23. Third-party ratings are subject to change. Ratings are for The Northwestern Mutual Life Insurance Company and Northwestern Long Term Care Insurance Company.
90-2723-91 (0224)Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. Life and disability insurance, annuities, and life insurance with long-term care benefits are issued by The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM). Long-term care insurance is issued by Northwestern Long Term Care Insurance Company, Milwaukee, WI, (NLTC) a subsidiary of NM. Investment brokerage services are offered through Northwestern Mutual Investment Services, LLC (NMIS) a subsidiary of NM, broker-dealer, registered investment advisor, and member FINRA and SIPC. Investment advisory and trust services are offered through Northwestern Mutual Wealth Management Company® (NMWMC), Milwaukee, WI, a subsidiary of NM and a federal savings bank. Products and services referenced are offered and sold only by appropriately appointed and licensed entities and financial advisors and professionals. Not all products and services are available in all states. Not all Northwestern Mutual representatives are advisors. Only those representatives with "Advisor" in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services.
