Intro: Northwestern Mutual Reviews & What you Need to know about Northwestern

There are hundreds of Northwestern Mutual reviews online. That’s why this article will aim to be more than just a standard Northwestern Mutual life insurance review. 

It offers the reader more than just a Northwestern Mutual life insurance rating.

This review strives to bring clarity to all Northwestern mutual reviews, bring all the results together, and present them in one clear, concise article.

The Big Picture—Northwestern Mutual Reviews

Trust in financial institutions is ridiculously low, and rightfully so, especially after the 2008 recession. People have very good reasons not to trust large financial institutions.

You’re still going to search online for the best term life insurance companies reviews. Whether it’s Northwestern Mutual life insurance or another life insurance policy, you still want to provide that security to your family.

northwestern mutual life insurance review

Source: Northwestern Mutual Life Insurance

The reality is that there are good financial companies that get tarnished with the same brush as those responsible for financial meltdowns. This Northwestern Mutual review that will help you decide if NWM is a company you want to trust with your life insurance needs.

From Northwestern Mutual disability insurance reviews to discussing Northwestern Mutual complaints from real customers, this article will cover everything you need to know about Northwestern Mutual life insurance, including:

  • Everything you need to know about Northwestern Mutual life insurance
  • Our detailed Northwestern Mutual life insurance review
  • Northwestern Mutual complaints
  • Compilation of the best term life insurance companies reviews
  • Analysis of Northwestern Mutual disability insurance reviews
  • Northwestern Mutual life insurance rating

See Also: Overview of Professional Liability Insurance Companies | What Is Professional Liability Insurance?

About Northwestern Mutual

Northwestern Mutual was founded in 1857 and has been in the business of providing life insurance for more than 150 years. The company has always aimed to be ahead of their time, and by as early as 1907, they allowed policy holders unrestricted access to all business and strategy plans.

This transparency has helped them to become one of the most trusted insurance companies in the United States today.

Northwestern Mutual Life Insurance Review—Under the Microscope

Northwestern Mutual life insurance is the bread and butter of Northwestern Mutual’s business. Currently, they offer the following life insurance models:

  • Term life: The money will be released either upon death or at the end of a fixed term
  • Whole life: Provides cover for the entirety of the insured’s lifetime
  • Universal life: Allows flexible premiums as long as a minimum premium is met
  • Comp life: Combination of permanent life insurance and term life insurance
  • Variable life: Permanent life insurance with tax benefits and the ability to loan against the policy

A simple online search for best term life insurance companies reviews indicates that Northwestern Mutual life insurance is a market leader in whole life insurance and variable life insurance.

Northwestern Mutual life insurance has garnered many positive reviews from top rating agencies:

  • A++ from AM Best
  • AAA from Fitch
  • Aaa from Moody’s Investor Service
  • AA+ from Standard and Poor’s Global Ratings

Based on the Northwestern Mutual reviews and ratings, it seems this company is highly regarded among trusted rating agencies.

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Northwestern Mutual Review—Life Insurance Options

When reading through many Northwestern Mutual reviews from past customers, it becomes clear that one positive feature that all reviews agree on is the level of flexibility Northwestern offers to its customers.

northwestern mutual reviews

Source: NWM Products and Services

For example, they have a Cash Surrender option, which allows customers to exit their policies early. Alternatively, customers might choose to take advantage of the Conversion option that gives them the opportunity to extend their policies past the original term.

Northwestern Mutual life insurance tailors its policies to the needs of the customers, including the options above and more popular selections listed below:

  • Premium returns on temporary policies
  • Vanishing premiums that reduce payments later in life when income may start to fall
  • Mortgage life policies to pay off mortgages during the event of death
  • Low minimum coverage of $50,000

Related: Private Mortgage Insurance: What You Need to Know about PMI Insurance

Northwestern Mutual Disability Insurance Reviews

Disability income insurance protects the policy holder’s income against illness and injury. Statistics suggest 1 in 4 people suffer from illness or injury that affects their ability to work, which makes disability income insurance as vital as other insurances.

Similar to life insurance, Northwestern Mutual offers a portfolio of policies depending on each customer’s set of circumstances, such as:

  • Guaranteed Renewable: Premium amounts will be lower, but benefits cannot be changed
  • Non-Cancelable Guaranteed Renewable: Pay a higher premium and get guaranteed renewable coverage
  • Annually Renewable Disability Income (ARDI): Start with a lower premium that will gradually increase over time

Most of the Northwestern Mutual disability insurance reviews demonstrate that their experience creating these specialized products has made them a market leader.

Northwestern Mutual Complaints

By industry standards, it appears that Northwestern Mutual delivers high levels of customer service. But even though many Northwestern Mutual reviews list positives with the company, there are still Northwestern Mutual complaints from customers as well.

Other Northwestern Mutual reviews state that the company has been slow to adapt to the move for online information, having less easily accessible online information that some other companies.

Northwestern Mutual has also not released a mobile app, making iOS and Android users who are highly tech-based unable to work with Northwestern Mutual life insurance on the go. While the company’s website is mobile-responsive and includes an agent search feature, other competitors are edging ahead with their app technology.

Another technology-based Northwestern Mutual complaint from many Northwestern Mutual reviews focuses on the lack of an online quote system, making the online researching of Northwestern Mutual life insurance even more difficult.

The Better Business Bureau works with more than 400,000 businesses and are most known for giving trusted and reputable business ratings. The BBB rates Northwestern Mutual at A+, the highest rating available. This is more than just a standard Northwestern Mutual life insurance review—it’s a rating for Northwestern Mutual life insurance that matters.

But that letter rating only touches the surface. BBB operates as a facilitator between the businesses and customers who have a complaint (BBB reports dealing with 880,000 complaints in 2013 alone) about a specific company.

Their reporting shows that Northwestern Mutual complaints are lower than complaints about competitors.

  • # 1 in lowest number of complaints for life insurance
  • # 1 in lowest for number of complaints for long-term care insurance
  • # 1 in lowest for number of complains for disability income insurance
  • # 2 in lowest number of complaints for insurance services
  • # 2 in lowest number of complaints for financial services
  • # 3 in lowest number of complaints for insurance companies

Conclusion—Northwestern Mutual Review

Clearly, with a history, credit rating, and array of products that Northwestern Mutual offers, they are considered to be a market leader. But even with numerous positive ratings, choosing the life insurance provider that is right for you is still a big decision.

When choosing which company to take your life insurance policy with, be sure to review all the facts before deciding which plan is right for you. Whether it is Northwestern Mutual life insurance, disability insurance, or another policy from another company, it’s important to assess all the facts before settling on any one plan.

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