Universal Life Insurance

Great coverage can be flexible.


What is universal
life insurance?

A universal life policy lets you build cash value, like a whole life policy does, and offers flexible premium payments and schedules to fit your life and your budget. All while protecting your family with great coverage.


Universal life insurance may be the right choice if you want:

  • Coverage that can last your entire life.
  • The chance to build cash value, that grows tax-deferred, and that you can use later for other financial goals.1
  • The option to adjust the amount of life insurance protection you want (within limits).
  • Flexible premiums — you control the amount and frequency of your payments. (Note: the amount of your payments will directly affect your policy's cash value, as well as your ability to maintain coverage in the future. Cash value accumulation can increase faster, if you pay more.)

We offer two types of universal life insurance

Custom Universal Life (CUL) Accumulator

CUL Accumulator gives you the highest flexibility when it comes to choosing your death benefit and premium payment schedule, providing:

  • The ability to meet a wide array of insurance objectives.
  • Flexibility to match your protection to your needs.
  • The ability to build your cash value, tax deferred.

Single Premium

A Single Premium universal life policy lets you pay a lump-sum from an inheritance, bonus, or other source of income to purchase a permanent life insurance policy and provide your heirs with an income-tax-free lump-sum payment (death benefit) that can be larger than your one-time premium payment.


The Northwestern Mutual Difference

  • A++


    AAA, Aaa, and AA+ the highest financial strength ratings of any life insurer FROM ALL FOUR MAJOR credit RATING AGENCIES2

  • No 1


    in quality of products and services in insurance FORTUNE® Magazine, 20173

  • 160


    years strong through depressions, downturns, and two world wars

Take the next step.

Our financial advisors work with you to help you find the right type of insurance, and the right amount, for your needs, goals, and budget.

Let's Talk

1Your policy's cash value typically becomes a useful source of funds only after several years of premium payments, which allows the cash value to build up. Each method of utilizing your policy's cash value has advantages and disadvantages and is subject to different tax consequences. Surrenders of, withdrawals from and loans against a policy will reduce the policy's cash surrender value and death benefit and may also affect any dividends paid on the policy. As a general rule, surrenders and withdrawals are taxable to the extent they exceed the cost basis of the policy, while loans are not taxable when taken. Loans taken against a life insurance policy can have adverse effects if not managed properly. Policy loans and automatic premium loans, including any accrued interest, must be repaid in cash or from policy values upon policy termination or the death of the insured. Repayment of loans from policy values (other than death proceeds) can potentially trigger a significant tax liability, and there may be little or no cash value remaining in the policy to pay the tax. If loans equal or exceed the cash value, the policy will terminate if additional cash payments are not made. Policyowners should consult with their tax advisors about the potential impact of any surrenders, withdrawals or loans.

2Ratings are for The Northwestern Mutual Life Insurance Company and Northwestern Long Term Care Insurance Company, as of the most recent review and report by each rating agency. Northwestern Mutual's ratings: A.M. Best Company A++ (highest), April 2017; Fitch Ratings AAA (highest), July 2017; Moody's Investors Service Aaa (highest), July 2017; S&P Global Ratings AA+ (second highest), June 2017. Ratings are subject to change.

3Awarded in the Insurance: Life & Health industry, FORTUNE® Magazine's annual survey, 2017.

NM-UL (0817)