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- Pros Explained
- Cons Explained
- Complaint Index
- Third-Party Ratings
- Competition
- Policies Available
- Available Riders
- Customer Service
- Final Verdict
- Frequently Asked Questions
Excellent customer satisfaction: Northwestern Mutual consistently performs strongly in nationwide customer satisfaction studies and received the third-fewest number of consumer complaints (based on...Policies eligible for dividends: Northwestern Mutual rewards its policyholders, even its term policyholders, with dividend payments, and has done so for over 150 years. The dividend for 2023 is pro...No medical exam coverage available: Typically, when you get life insurance, you have to undergo a paramedical examination as part of the underwritingprocess. Northwestern Mutual has an accelerated...Top-tier financial stability: Fewer than 10% of the 91 life insurance companies we reviewed received an A++ for financial strength from AM Best. Northwestern is among them.Financial strength correl...Can’t buy without an agent: Many life insurers provide the option to purchase term coverage online without an agent, but Northwestern Mutual does not. You’ll need to connect with one to buy any typ...Online capabilities are lacking: Northwestern Mutual doesn’t offer online quotes or provide much in the way of policy information on its website. For either, you’ll have to reach out to an agent.To get an idea of how happy a life insurance company’s customers are, consider how many customer complaints the company receives. Of the 91 life insurance companies we reviewed, Northwestern Mutual received the third-fewest number of complaints, according to the National Association of Insurance Commissioners (NAIC). The NAIC records consumer compl...
Northwestern Mutual also measures up well in two other rating systems from third-party organizations. We looked to AM Best for insight into a company’s financial strength and to J.D. Power to see how companies fared with customers. AM Bestis a credit rating agency that evaluates the financial strength of life insurance companies and ranks them on a...
It’s helpful to compare life insurance companies based on key factors like financial strength, customer satisfaction, and policy types available. Below we’ve compared Northwestern Mutual to two of its largest competitors.
Term Life Insurance
Term life insurance lasts for a certain number of years, usually up to 30, during which you often pay a level premium(meaning it stays the same year after year). If you want to continue coverage after the level premium period, you may be able to renew it at a higher rate. Some term policies don’t have a level premium period and the premium increases each year you renew coverage. Since term policies aren’t designed to be permanent, they tend to be more affordable than permanent coverage like u...
Whole Life Insurance
Unlike term, whole life insurance provides lifelong protection. It incorporates a cash valueaccount that grows as the policy ages, and you may be able to withdraw or borrow from the account if desired. Whole life insurance is more expensive than term and may also be more expensive than universal life insurance, which we discuss below. As long as premiums are paid, the coverage is guaranteed. If you are interested in whole life insurance and would like more details, you can speak with an agent.
Universal Life
Universal life (UL) insuranceis also permanent life insurance but with more flexibility than whole life. You can adjust the frequency or duration of premium payments and may be able to adjust the death benefit as well. But if you draw down the cash value too much, you could cause the policy to lapse. And since universal life policies grow based on current interest rates, it’s possible the cash value might not grow as expected and you may have to increase premiums in the policy’s later years t...
Riders increase or extend the coverage of your life insurance policy. Some riders, called living benefits or accelerated benefit riders, let you access part of the death benefit early, before death. Some of Northwestern Mutual’s riders are below. Most cost extra and need to be selected when the policy is issued. 1. Additional Purchase Benefit: This...
You can call Northwestern Mutual’s customer service number at (866) 950-4644 between 7 a.m. and 6 p.m. Central Time from Monday through Friday. The company does not offer online chat or an online form for non-existing customers to request an email response.
Without question, Northwestern Mutual is a standout company. Northwestern Mutual has a high ranking by J.D. Power and an extremely low number of complaints. Its stellar financial strength rating and long company history mean it’s likely to weather financial storms in the future just as it did in the past. However, Northwestern Mutual is trailing it...
Does Northwestern Mutual Pay Out?
Yes. Northwestern Mutual has an excellent reputation and financial standing. It should pay out its policies in a timely manner, assuming all the connected paperwork is in order and no outstanding payments on the premiums.
Can You Cash Out a Life Insurance From Northwestern Mutual?
Whole and universal life insurance are two forms of permanent life insurance offered by Northwestern Mutual. You can borrow or take out the cash value of a permanent life insurance policy, but your death benefit portion of an insurance policy cannot be touched until your death. Depending on how much you withdraw you may owe taxes. Interest your cash value earns is also taxable.
Can You Cancel Your Life Insurance from Northwestern Mutual?
Yes, you can cancel your life insurance policy at any time. If you cancel a whole or universal life insurance policy with a cash value attached, the funds will be returned to you. A surrender charge may be deducted from the sum you receive. Any gains made on your cash value may be considered taxable income.
Although most customer service issues will be handled by the local office where the dedicated financial advisor for the Northwestern Mutual account resides, the company does have a nationwide customer service phone number for general questions. The line is open only during the week, though.
our FAQs or get in touch. Contact Us. Everything you need from insurance to investments to financial planning, all in one place. Get in touch with your Mechanicsburg, PA Northwestern Mutual financial advisor office.
- (610) 844-9770
- northwesternmutual-harrisburg@nm.com
Contact Us. Emergency service is provided 24/7. For all service, our Customer Contact Centers are open weekdays from 7AM to 6PM. Montana: 888-467-2669. South Dakota/Nebraska: 800-245-6977. We are committed to delivering exceptional service to our customers and communities. Find contact phone numbers and hours.
Northwestern Mutual offers financial planning, life insurance, investment services & more. Learn how life insurance & financial planning can help you reach your goals.
Contact Information. 720 E Wisconsin Ave. Milwaukee, WI 53202-4703. Get Directions. Visit Website. (414) 271-1444. Customer Reviews. 1.3/5. Average of 27 Customer Reviews. Customer...
