A term life insurance policy from Northwestern Mutual will help make sure your mortgage gets paid, your kids are able to pay for college, or your family can cover everyday expenses should something happen to you. It's an affordable way to have the protection you want for a specific period of time.
Less than $1 a day
That's all it takes to make sure your family can be taken care of financially if the unexpected happens.1
You've got term life insurance questions, We've got answers.
Term life or term insurance is simple: You determine the right amount of coverage you need (with the help of your advisor), then you figure out for how long you need coverage for and choose from the available periods. 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 have term insurance policies for 10 and 20 years or until you turn 80 years of age, but once those terms end, so does your coverage.
The best one for you depends on your goals. The biggest difference is that term life insurance covers you for a set amount of time and is likely to be less expensive than whole life insurance.
On the other hand, whole life insurance covers you for life and it has a lot more you can use throughout your life. It gives you the chance to increase coverage as your needs change. Whole life builds cash value over time (tax-deferred) that you can use for anything.2 Plus, it can 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. See all our life insurance options.
It's a great perk, but life insurance offered through your employer usually won't give you the amount of coverage you may need. Typically, you want around 10 times your annual salary, but most employers offer only one to two times your annual salary. Also, if you leave your job or go out on your own, you can't take your coverage with you. And when it comes to affordability, the younger you get covered the less expensive it will be. Calculate how much life insurance coverage you'll need.
Surprisingly so, but the cost depends on things like your age, health, as well as the amount and length of coverage you need. A $500k policy that would cover you up to age 80 for a 35-year-old female will initially cost about 72¢ per day, and for a 35-year-old male it's only 87¢ per day initially.1 The best way to get an accurate quote is to talk to an advisor.
Our term life insurance policies have an optional waiver of premium rider to give you more flexibility. This benefit lets you stop paying your life insurance premiums if you ever experience a qualifying disability, while still keeping your coverage with no reduction to the death benefit. Ask an advisor if a waiver of premium rider is right for you. Connect with an advisor.
When you're younger, term life insurance can be a simple way to protect your loved ones. But as life changes your financial priorities can too, so you may want to have whole life insurance for its lifetime coverage and additional benefits that you can use while you're living. That's where a term conversion comes in.
As a Northwestern Mutual term policyowner, you can convert some or all of your term coverage into a whole life policy. Approval is guaranteed regardless of your health. The premiums won't increase once they're set, but they will go up with age, so it's a good idea to lock them in early.
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The Northwestern Mutual difference
97% of our clients stay with us year over year
The percentage of our policyowners who stay with us year over year.3
No. 1 direct provider of individual life insurance in the U.S.
Largest direct provider of individual life insurance in the U.S.4
A++ financial strength rating
AAA, Aaa, and AA+—we've earned the highest financial strength ratings awarded to life insurers from all four major rating agencies.5