What is universal life insurance?

Universal life insurance gives you lifelong protection and cash value you can use for anything, anytime, plus the flexibility to adjust your policy along the way as your life and needs change. It lets you choose the amount of your death benefit and how much you pay in premiums, as well as when you pay them.

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The benefits of universal life policies

Flexible death benefit

You can start off with a specific amount to meet your current needs, but if things shift down the road, you have the option to increase or even change the type of death benefit (within limits) to fit your situation.

Flexible premiums

You get to choose how much you pay, and when, which can be helpful if your cashflow fluctuates. Keep in mind, premiums will increase with age (based on the difference between the death benefit and cash value) and as long as there's enough cash value to pay your policy's monthly fees, your coverage will continue.1

Cash value

Use it for anything, anytime, usually without owing taxes. You can help pay for an emergency, home repair, college tuition, even invest in your business, whatever you need.2 However, your policy could lapse if the net accumulated value of the policy is less than the monthly fees.

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What types of universal life insurance policies does Northwestern Mutual offer?

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When you work with Northwestern Mutual, we listen to the goals you have and design a financial plan tailored specifically to your life. Universal life insurance is a flexible tool that could be an important part of your plan, giving you lifelong protection while helping you meet more of your financial goals. Find out more about how we plan.

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164+ years strong through depressions, downturns, and pandemics

The number of years we’ve been there for our clients—through depressions, downturns, and pandemics.

No. 1 direct provider of individual life insurance in the U.S.

Largest direct provider of individual life insurance in the U.S.5

Latest ranking for Northwestern Mutual based on direct premiums written 2019, S&P Global Market Intelligence
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