65 Life and 90 Life are two permanent life insurance options that allow you to pick the age at which you will stop paying premiums. 65 Life offers a shorter premium-paying period, which means your premiums are higher, but you build cash value and your death benefit can grow faster. 90 Life offers lower premiums, but you won’t build cash value or have the opportunity to grow your death benefit as quickly.
65/90 Life insurance protection is permanent as long as premiums are paid.
With 65/90 Life:
- Premiums are level and payable to age 65 or 90 or until death, if sooner.
- Dividends1 can increase your coverage or reduce your premium outlay – your choice.
- Cash values may increase faster when dividends are used to purchase additional insurance.
- Cash values are accessible and available via loans for emergencies or opportunities.
65 Life and 90 Life can be an excellent way to provide benefits to employees or to insure key people.
65 Life offers security and value during the working years. For example, upon retirement age at 65, 65 Life will be fully paid-up. At that time, the business has several options, including the option of keeping the policy along with its corresponding insurance benefit, surrendering the policy, transferring the policy to the employee, or annuitizing the policy to fund retirement payments to an employee.
Deferred Compensation, Bonus, and Key Employee plans are often best funded with permanent, level-premium products. An effective vehicle for fulfilling Buy-Sell agreements and Split Dollar arrangements may be Northwestern Mutual’s 90 Life or 65 Life products.
1Dividends are not guaranteed.