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 life insurance you need, and nothing you don't.
Let's talk about why life insurance is so important.
What is life insurance, exactly?
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.
Why do I need a life insurance policy?
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.
Is life insurance affordable?
Surprisingly so, but there are a lot of options to choose from so the cost will vary, too. What you pay monthly (or yearly) will depend on things like the type and amount of life insurance that will fit your needs, as well as your age and health.
Isn't life insurance through my work enough?
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.
What if I need a life insurance policy fast?
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.7
Can a life insurance policy earn money?
Yes, two ways: dividends (while not guaranteed, we've paid them every year since 1872) can be taken as cash, used to pay premiums, or buy more coverage. Some policies like whole life insurance also build cash value over time that you can use for anything throughout your life.
We have many types of life insurance to choose from
Whole life insurance
Be protected your entire life1 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.2
Have coverage that lasts your whole life1 and gives you more flexibility now and down the road—letting you change your payment amount (premiums) and schedule3 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 markets4 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.
Questions about life insurance? We've got answers.
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 insurance 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.
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.2 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.
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.
Get matched with a financial advisor in four easy steps.
The key to a smart financial plan? Life insurance.
Most people don't see life insurance as a key part of their financial big picture. At Northwestern Mutual, our advisors6 blend the right insurance (and amount) together with smart investment strategies to create a personalized financial plan that's designed to help you:
Protect everything you've worked so hard for
Make the most of what you have with recommendations for saving and paying down debt
Grow your money with an investment strategy designed for your goals