Northwestern Mutual

Term Products

Get essential protection for your family for a specific period of time with a term life insurance policy from Northwestern Mutual.

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Term life insurance provides temporary life insurance for a set period of time (term).  A Northwestern Mutual term life insurance policy may be right for you if:

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  • Want to provide your family with a source of income in the event of your death or to provide funding for a specific goal, such as your children’s education.
  • Need interim coverage while you determine whether you want the lifelong protection of permanent life insurance.
  • Want to provide your loved ones with cash (through a death benefit) to meet final expenses or to pay off a mortgage or other debt.

Northwestern Mutual offers two types of term life insurance: level premium term life and annually renewable term life.

Level Premium Term Life Insurance

A Northwestern Mutual level premium term policy may be right for you if you prefer the certainty of knowing your premiums will remain the same for a set period of time. Generally, the longer the term, the higher the premium amount.

Northwestern Mutual offers a choice of two level premium term life insurance policies:

  • Level Term 20 offers protection with payments that remain level for 20 years.
  • Level Term 10 offers coverage for 20 years with a premium that remains level for the first 10 years and then resets once to a new level for the remainder of the contract.

Annually Renewable Term Life Insurance

Annually renewable term life insurance guarantees coverage for a set period of time (term), with a premium that resets each year. Typically, premiums are low when you are young but increase every year. If you’re looking for a high level of temporary coverage at an initial cost that is often more affordable than other types of life insurance, annually renewable life insurance from Northwestern Mutual may be right for you. Although your monthly or annual premiums will increase with age, they’ll never be higher than the guaranteed rates specified in your contract.

Northwestern Mutual offers a choice of two annually renewable life insurance policies:

  • Term 80 offers protection for as long as you need, up to age 80.
  • Term 10 enables you to secure a significant amount of coverage for a period of 10 years.

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