Northwestern Mutual online account access is available for the following types of policies/accounts:
- Life insurance
- Disability insurance
- Annuity contracts
- Variable annuity contracts
Take the Online Policy Tour to see what's available when you sign up to view your personal policy information online.
Complete the Online Sign Up Form to set up service to view your personal information through our secure Web site.
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The beneficiary of a policy is the person who receives the proceeds of an insurance policy upon the death of the insured. The beneficiary is named by the policyowner. The policyowner is the only person who can change the beneficiary.
You may name multiple beneficiaries. All death benefits will be paid in equal proportion to all beneficiaries who survive and receive payment, unless you specify otherwise.
To distribute the death benefit unequally, indicate what fraction or percentage you would like each beneficiary to receive. Avoid using dollar amounts. When the claim is made, the amount of the death benefit may not be the same as it is today.
If you prefer to designate dollar amounts, please contact your representative for the specific language you will need to complete the Change of Beneficiary form.
You do not need to fill out a form if you are only changing the current beneficiary's name and/or address (i.e. marriage, adoption, or other legal name change). Simply call your representative, Northwestern Mutual or contact us using our Request for Service Form.
To change the beneficiary, print out and complete the Change of Beneficiary form.
When the policyowner is a business or trust, the form must include the name of the business or trust, and the title of the person signing. That person should not be the person insured or the person who will benefit from the change.
After we have accepted and recorded the information on your Change of Beneficiary form, the change becomes effective as of the date the form was signed.
Below are a few of the common billing questions typically received from policyowners.
We will send you an Urgent Notice if we don't receive a check from you within 10 days of the due date.
- If you have mailed your premium, don't panic. Your payment and the Urgent Notice may have crossed paths in the mail.
- If you have not paid your premium, do so as soon as possible to maintain your coverage.
The amount of your bill may change because:
- Your benefits have increased to keep pace with inflation.
- One or more policies have been added to or deleted from your bill.
- The annual premium on your term life insurance policy has increased.
- Changes have been made to the amount or use of your dividends.
- Changes have been made to your policy
If you still have questions, see forms and contact information.
Visit the Term Conversion Center to learn why you would want to convert your term insurance to a permanent insurance policy and what your conversion rights are, including the conversion period and conversion credits.
The loss of a loved one places a tremendous emotional burden on the surviving family members. That's why we've made our life insurance claim service quick and straightforward.
We'll tell you what options you have for the proceeds and the steps you need to take.
Complete and submit the Report of Insured's Death form or notify your Northwestern Mutual representative. You will receive a Beneficiary's Guide. The guide will show you how to get your claim processed and approved. The forms contained in the guide should be completed by the beneficiary, the beneficiary's representative, or your representative.
Proceeds are payable to the beneficiary upon the death of the person insured under the life insurance policy.
Beneficiaries can receive proceeds several ways:
- The beneficiary receives the proceeds in a single check, when the benefit is less than $20,000.
- The beneficiary can choose a settlement plan.
Additional information for planning your future is available in the booklet, A Guide for the Future.
Download "A Guide for the Future"
Download the "Beneficiary Checklist"
When someone you love becomes terminally ill, the bills can begin to mount quickly. Northwestern Mutual's Early Payment Benefit is an accelerated death benefit* designed to help people with the financial burden associated with terminal illness. It is available to any person insured by a life insurance policy whose doctors certify that he or she is not expected to live longer than six months.
Note: The benefit is not available in Connecticut, Illinois, Indiana, Massachusetts, New Jersey, New York, Vermont, Texas, South Carolina, or Pennsylvania.
You qualify for the Early Payment Benefit if:
- Your policy has a death benefit of at least $100,001 and was issued after Dec. 31, 1991.
- Your policy(ies) have a combined value of more than $50,000 in total death benefit coverage and were issued before Jan. 1, 1992.
The Early Payment Benefit pays up to 50% of the death benefit up to a total of $250,000 for all policies held. The minimum benefit paid is $10,000.
Northwestern Mutual administers the benefit at the policyowner's request. You must complete the Early Payment Benefit form. We will need medical information confirming that the person insured has less than six months to live. For a copy of the form:
- Contact your representative
- Contact Northwestern Mutual directly at 800-388-8123, 7:00 AM to 7:00 PM CST, Monday through Friday
The Early Payment Benefit is considered a lien against the policy. Once the benefit is taken, it accrues interest at the market interest rate. Any unpaid interest will be added to the lien at the market interest rate. The market interest rate is subject to change January 1 of each year.
When the insured person dies, the beneficiaries will receive any remaining death benefit. This will be the "net" amount after the Early Payment Benefit and interest have been deducted.
The Internal Revenue Code, as amended by the Health Insurance Portability and Accountability Act of 1996, provides that qualified accelerated death benefits are treated as tax-free death benefits and the addition of a qualified accelerated death benefit to a life insurance contract is not treated as an exchange or material change for tax purposes.
*We consider our Early Payment Benefit a qualified accelerated death benefit subject to these provisions. However, because the IRS has not issued regulations or other guidance with respect to the interpretations of this law, we recommend that you seek the advice of a tax advisor.
Northwestern Mutual offers a number of fixed settlement plans:
- Interest Income Plans
Allow you to earn interest on your proceeds while keeping your principal intact.
- Installment Income Plans
Allow you to receive principal and interest in monthly payments for a specified period of time.
- Specified Amount Plans
Allow you to receive payments of principal and interest until the funds are exhausted.
- Life Income Plans
Pay principal and interest, in equal amounts, on a monthly basis for the rest of your life.
Interest Income
- You can make withdrawals and transfers to another settlement plan at any time at no charge.
- The current interest rate is payable for the calendar year and may change annually, as determined by Northwestern Mutual.
- The interest rate will never be lower than the guaranteed rate specified in your contract.
- Interest is paid to you or compounded annually.
Interest Income with Guaranteed Interest Rate
- A minimum of $5,000 is required.
- You can select from an interest period of six months, one year, two years, five years or 10 years.
- At the end of the interest period, your choice will renew automatically, unless you specify otherwise. The rate of interest will be that offered by Northwestern Mutual at that time.
- Interest is paid to you or compounded annually.
- You can make withdrawals and transfers at the end of the interest period you select. A charge will be deducted, however, if you make a withdrawal or transfer before the end of your interest period.
Installment Income for Specified Period
- You receive principal and interest in varying monthly payments over a specified period between one and 30 years.
- The current interest rate is payable for the calendar year and may change annually, as determined by Northwestern Mutual.
- It will never be lower than the guaranteed minimum rate specified in your contract.
- Interest that exceeds your guaranteed rate will be added to your guaranteed payments.
- A withdrawal or transfer of the remaining funds can be made free of charge at any time before the end of your payment period. Partial withdrawals are not allowed.
Installment Income for Specified Period with Guaranteed Interest Rate
The Installment Income for Specified Period with Guaranteed Interest Rate option includes the
following:
- You receive principal and interest in equal monthly payments guaranteed for a specified period of two to 20 years.
- The interest rate and the payment amount are both guaranteed for the time period you select.
- A withdrawal or transfer can be made at any time. The maximum you can withdraw is calculated by discounting the remaining guaranteed payments and applying a withdrawal charge.
- A minimum of $5,000 is required.
Installment Income for Specified Period
- Principal and interest are paid to you in an amount you choose until your account balance is zero.
- Payments continue until all interest and principal have been paid out.
- The current interest rate is payable for the calendar year, and may change annually, as determined by Northwestern Mutual.
- It will never be lower than the guaranteed minimum rate specified in your contract.
- Interest that exceeds your guaranteed rate will be used to extend your payment period.
- Withdrawals or transfers of your remaining funds can be made free of charge.
Northwestern Mutual has life income plans with two payment options. For either case, withdrawals or transfers are not allowed once payments have started.
Lifetime Only Plan
Guarantees payments for life. Payments stop upon your death.
Lifetime with a Certain Period Plan
Guarantees payments for life. You have the option of guaranteed payments for 10 or 20 years, or until all of the amount you originally invested is paid out. If you die before the guaranteed payment period ends, payments will continue to your beneficiary for the remainder of the guaranteed period.
Decisions concerning a fixed payment plan should be made within the scope of your total financial situation, your tolerance of investment risk and return potential, and with the guidance of your representative or tax advisor.
If you have several policies with Northwestern Mutual, you can save time and energy by opening an Insurance Service Account (ISA).
With an ISA you can:
- Consolidate premiums from two or more insurance policies. Payments for up to 15 policies can be combined on one bill.
- Make regular installment payments on loans or policies.
- Pay premiums by automatic withdrawal (Electronic Funds Transfer) from your bank account.
- Pay premiums on a convenient schedule, monthly (only available with Electronic Funds Transfer), quarterly, every six months, or once a year.
- Earn interest on any additional funds that accumulate in your Insurance Service Account.* (ISA Plus only)
Note: A separate account is required for variable products and annuity products.
*A variable Insurance Service Account cannot accumulate surplus and therefore cannot earn interest.
To sign up for an ISA Plus:
- Call your Northwestern Mutual representative
- Contact Northwestern Mutual directly:
- Telephone: 800-388-8123, 7:00 AM to 6:00 PM CT
- Fax: 414-665-4268
One of the most valuable features of a life insurance policy is the ability to borrow from your policy's cash value. However, taking out a policy loan can have a significant impact on your policy's performance and future non-guaranteed dividends. Also, any outstanding loan balance and interest will reduce proceeds paid to your beneficiary.
Talk to your Northwestern Mutual representative before making any decisions.
If you have a policy that is dated after Dec. 31, 1981, or that has been amended to direct recognition, a loan may reduce the annual non-guaranteed dividends you receive on your policy. Direct Recognition is the process Northwestern Mutual uses to determine the dividends that are paid on a whole life policy. It factors in the amount of loan activity on the policy in order to fairly distribute the company's surplus to all policyholders.
To apply for a policy loan of more than $100,000, you'll need to complete a Policy Loan Agreement form. To obtain a copy of the form, ask your representative or call Northwestern Mutual at 1-800-388-8123, from 7:00 AM to 6:00 PM CT, Monday through Friday.
To apply for a loan of $100,000 or less, contact your representative or call Northwestern Mutual at 1-800-388-8123, from 7:00 AM to 6:00 PM CT, Monday through Friday.
Please have your policy number ready when you call.
Interest on your loan accrues daily and is billed annually until the loan is repaid. Unpaid interest is added to principal where it continues to accrue and compound. This may result in the loan exceeding the cash value of your policy. If this happens, outside funds will be needed to avoid termination and a potentially significant tax.
Variable Life and Variable CompLife policies
Taking a loan from a Variable Life or a Variable CompLife will permanently affect your policy, even if you repay the loan in full. That's because the cash value used as collateral for your loan will be placed in the company's general account and will not share in the investment experience of the underlying funds.
Policies Classified as Modified Endowment Contracts
Loans and loan interest are taxable when taken as ordinary income to the extent of the gain in the policy. Northwestern Mutual is required by the Internal Revenue Service (IRS) to report either the amount you borrow or the gain in the contract, whichever is less. If you are under age 59 1/2 when you take the loan, the IRS may assess an additional 10% penalty on the taxable amount. Modified Endowment Contracts may be subject to other special tax treatment. Talk with your tax consultant before making your decision.
Repaying your loan is important. It keeps your policy in force and maintains the level of protection you planned to provide for your beneficiaries. Repayment can restore your policy's death benefit and cash value, and may increase non-guaranteed dividend performance. As you pay off your loan, you will also reduce your interest payments—a lower balance means lower annual interest charges.
To repay a policy loan:
- Contact your representative
- Call Northwestern Mutual at 1-800-388-8123 from 7:00 AM to 6:00 PM CT, Monday through Friday
- Complete a Request for Service form
- Send payment to:
Northwestern Mutual
PO Box 88245
Milwaukee, WI 53288-0245
Please write your policy number(s) on your payment to ensure proper crediting.
You can repay your loan in installments, in a lump sum, or with your scheduled bills.
You choose the amount and the frequency of the payment.
Lump-sum payment
You repay the loan all at once.
Scheduled bill payments
If you pay your premium through an Insurance Service Account, we can add your loan payments to your bill monthly, quarterly or every six months. Payments can be as little as $10 a month.
Changes in your personal life may create the need to change the policyowner. There may also be tax or legal advantages to having your life insurance policies owned by a trust, or by other family members who will be the beneficiaries.
The decision to change the policyowner should not be taken lightly. Before you fill out the form, contact your Northwestern Mutual representative, attorney, or other advisors to discuss the ramifications.
The policyowner is the person or entity who owns an insurance policy and has all contractual rights. The policyowner does not have to be the person who is insured or who pays the premium, except on a tax-qualified annuity.
You may name multiple policyowners. All policyowners must act jointly on all policy transactions, however, and all their signatures are required on any documents that change the policy.
Changing the ownership of a policy does not change the beneficiary or the person who receives the bill. To change these items, the new owner should submit a Change of Beneficiary form and the Change of Payer form.
To change the policyowner, print out and complete the Owner Designation form.When the current policyowner is a business or trust, the form must include the name of the business or trust, and the title of the person signing. The person who signs should not be the person insured or the person who will benefit from the change.
After we have accepted and recorded the information on your owner designation form, the change becomes effective as of the date the form was signed.
Paying premiums keeps your insurance policies in force and ensures your beneficiaries will receive the level of protection you planned for them.
Paying premiums has other advantages. It builds tax-deferred cash value, which provides money for emergencies, your children's education, a dream vacation or supplemental retirement income.
Northwestern Mutual offers three easy ways to pay your premium.
If your premium payments are not automatically withdrawn from your bank account, Northwestern Mutual should receive payment by the due date on your bill. If the insured person dies during the grace period, the unpaid premium is deducted from the death benefit.
If your premium is not paid within the grace period and your policy has built cash value, you may be able to take advantage of your policy's nonforfeiture option which you selected at the time of policy issue. These options pay your premium and keep your policy in force for a specified time. Policies that do not have cash value, such as term insurance and disability insurance, will lapse when the grace period expires.
Available Options
- Automatic Premium Loan (APL)
Any unpaid premium is automatically paid with a premium loan at the end of the grace period. Premium loans accrue interest according to the rate in your policy.
- Extended Term Coverage
Your policy's cash value is used to purchase term insurance that is equal to the face amount of your existing policy. If you do not resume payment of your premiums, your policy will terminate at the end of the term insurance period and will not have any value. This option applies only to whole life policies, excluding Variable CompLife.
- Paid Up Contract
If your contract is paid up, you do not need to make future premium payments to retain coverage. Limited-pay policies become paid up after the required number of premiums have been paid. The term also refers to the end result of a non-forfeiture option that causes a policy to convert to a smaller, but still participating, completely paid up policy.
To change the date the premium is automatically withdrawn from your bank, or to let us know you have changed banks:
- Contact your Northwestern Mutual representative
- Northwestern Mutual directly at 1-800-388-8123 between 7:00 AM and 6:00 PM CT, Monday through Friday
- Complete the Request for Service form
To change the payment date, you will need to provide:
- Your name
- Your ISA or policy numbers
- Your bank account number
- The current date of your automatic withdrawal
- The new date of your automatic withdrawal
To change the bank where payments are withdrawn:
- Your name
- Your ISA or policy numbers
- Your bank transit/routing number
- Your new bank account number
- The name of your new bank
If your life insurance policy is in danger of lapsing, please review the brochure specific to your state of residence, by clicking on one of the links listed below. These brochures detail important information about alternatives to allowing your policy to lapse.
Maine
Washington
Settlement plans offer several kinds of payments, including lump sum, specified number of years, or life-long payment plans.
Northwestern Mutual offers two basic types of settlement plans—fixed and variable. Both offer a number of options.
The type of settlement plan you select should be based on your financial circumstances, your tolerance of risk and the return potential.
If you find Northwestern Mutual Payment Plans competitive, you may want to maximize the advantage of your payment plan by adding additional funds from other sources to the contract proceeds. That additional money is added as a contribution to an annuity (within certain contract limitations).
This contribution is reduced by any state premium tax that Northwestern Mutual must pay.
For additional information about settlement plans or contract limitations, contact your Northwestern Mutual representative or Northwestern Mutual.
See also:
- Fixed Settlement Plans
- Variable Settlement Plans
When you surrender a policy, you agree to receive the accumulated value of the policy. You can either receive it in one lump sum or in regularly scheduled payments over a specific period of time. The frequency and amount of the payments are determined by the settlement plan you select.
Surrendering a policy could have tax or financial implications. Consult your Northwestern Mutual representative or tax adviser to determine if surrendering a policy is right for your financial situation.
Some policies will incur a surrender charge to cover administrative costs. See your policy provisions for details.
Also see: Settlement Plans
Call us toll-free at 1 (800) 388-8123, 7:00 AM to 6:00 PM CST, Monday through Friday. Upon verifying contract information, we can give you the user id, and provide you with a new, temporary password. The next time you access your policy information enter the temporary password and change it immediately to a new password.
You can also reset your password online.
For security reasons, after three tries you will be locked out of your account. Please try again later. Your password is case sensitive. Enter your password exactly the way you saved it with the correct upper and lower case letters. Check to see if you have activated your CAPS LOCK key. Turn off CAPS LOCK and enter your password again.
Your browser may have cached (stored on your hard drive) the incorrect information and is not sending your new information to the server. Close your browser and disconnect from your Internet Service Provider. Wait about ten seconds and reconnect to the Internet. Open your browser and go back to the site. Reenter your login information.
Customers who come to our site from a bookmark will sometimes get this message. A connection has failed in relation to the bookmark. Enter in the address field of your browser the URL for our site instead of using the bookmark.
This message displays when someone other than the owner of a policy attempts to view policy information. If you are the payer or the insured of a policy but not the owner, you will not be given access to the policy information.
To view policy statements, you will need the free Adobe Acrobat Reader®. Adobe, the Adobe logo and Acrobat are trademarks of Adobe Systems Incorporated.
If you print your statement and the right-hand side of the page has missing values, there is a simple change you can make to your system to resolve this. Within your operating system, select a display setting of at least 800 x 600 pixels. Browse to your statement and select File and Print within your browser's menu at the top of the page. Next, change the print orientation to Landscape and your statement will print correctly.
Variable Settlement Plans can only be used to settle variable annuity and IRA proceeds. On the one hand, variable plans offer you the potential to benefit from market gains. On the other hand, you also assume the investment risk.
Variable plans do not offer a guaranteed payment amount. Payment amounts depend on the performance of the Northwestern Mutual variable investment fund you select. You can choose to receive all or part of your proceeds under a variable settlement plan.
Northwestern Mutual offers three types of Variable Settlement plans:
Installment Income for Specified Period
You receive principal and earnings in monthly payments over a specified period of time that you select, between five and 30 years. Before the end of the payment period, you may withdraw the value of any remaining funds. You may incur a surrender charge if your
withdrawal is made during the first five years of the plan.
Single Life Income Plan
You receive principal and earnings in monthly payments over a specified period of 10 or 20 years, or for life, if you outlive the specified period. Northwestern Mutual will continue payments to your beneficiary if you die before the end of the specified period. Withdrawals
from this plan are not allowed.
Joint and Survivor Life Income Plan
You receive principal and earnings in monthly payments that continue as long as you or your joint annuitant is living. Withdrawals from this plan are not allowed. This plan offers three options:
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Joint and Survivor
Northwestern Mutual will make payments while you and your joint annuitant are both alive. On the death of either person, Northwestern Mutual will continue to make payments to the survivor for life, or ten years from the date of settlement, whichever is longer. During your lifetime, payments are made to you. The amount of the payments remains the same even after one of you dies. Variations in the payments may occur as a result of market performance on the separate account.
-
Joint and 2/3 to survivor
Northwestern Mutual will make payments while you and your joint annuitant are both alive. On the death of either person, the annuity units will be reduced to two-thirds of the original amount. Northwestern will make payments based on those reduced units to the survivor for life, or for ten years from the date of settlement, whichever is longer. Payments are made to you and the joint annuitant as long as you both are living.
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Joint and 1/2 to Survivor
Northwestern Mutual will make payments while you and your joint annuitant are both alive. On your death, the annuity units will be reduced to one-half of the original number. Northwestern Mutual will make payments based on those reduced units to the survivor for life, or for 10 years from the date of settlement, whichever is longer. During your lifetime, payments are made to you.
To get a copy of the form for your settlement plan, call your Northwestern Mutual representative or contact Northwestern Mutual.
Decisions concerning a variable settlement plan should be made within the scope of your total financial situation, your tolerance of investment risk and return potential, and with the guidance of your representative or tax adviser.
For Variable Payment Plans: This description contains a partial summary of contract provisions which are explained more completely in the prospectus.
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