whole life Insurance

This type of life insurance gives you lifelong protection³ and has features you can use along the way. As you make payments (which will never go up by the way), your policy will build cash value. It's guaranteed to grow tax deferred regardless of market ups and downs, and you can use the cash value to pay for whatever you want or need. You can also earn dividends that can be taken as cash, used to pay premiums, or buy more coverage. Find out more about whole life insurance.

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). But whole life insurance from Northwestern Mutual is much more than that. As you make payments, you'll build cash value (tax deferred) that you can use for anything you wish.¹ 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. Get more details on how whole life insurance works.

Term life covers you for a specified amount of time, while whole life covers you for your entire life. Along with a guaranteed payout³ when you're no longer here, whole life insurance also has a lot more you can use throughout your life. It builds cash value over time that you can use for whatever you want.¹ Plus, whole life insurance can earn dividends that can be taken as cash, used to pay premiums, or buy more coverage. See more on the living benefits of whole life insurance.

Whole life insurance is not an investment -it provides protection for you and your loved ones. It accumulates cash value over time that's guaranteed to grow, will never go down, and has smart tax advantages. What you earn over what you put in won't be taxed (unless you withdraw it). Even better, you can use the cash value for anything you want throughout your life.¹ See how much you know about life insurance, take our quiz.

What you pay monthly (or yearly) will depend on things like the amount of coverage you need, your age, and health. The best way to get an accurate quote is to talk to one of our advisors.

The best one for you depends on your goals. The biggest difference is that term life insurance covers you for a limited amount of time and is likely to be less expensive than whole life insurance. On the other hand, whole life insurance has lifelong coverage and gives you a lot more options that you can use throughout your life. Whole life builds cash value over time that you can use for anything.¹ 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 increase your coverage (and cash value). Find out more about the benefits of whole life Insurance.