Life Insurance

We have many types of life insurance policies to choose from

How do I get a life insurance quote?

Your advisor will ask you deeper questions to find out which type of life insurance is right for you and get you an accurate quote. They'll also help you figure out how much you might need to keep your loved ones financially sound if the unexpected happens to you. Find your advisor and talk about your needs.

How does term life insurance work?

It's simple. Term life is an affordable way to have the protection you want for a set amount of time. With the help of your advisor, you'll determine the right amount of coverage your loved ones will need. Then, you'll figure out how long you need coverage for and choose from the available periods. Typically, 10, 15, 20 years, or even to a certain age. Keep in mind, once that time is up your coverage will end. 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.

What are the different types of life insurance?

You can protect your loved ones with four types of life insurance: term life insurance, whole life insurance, universal life insurance, and variable universal life insurance. Term life only covers you for a specified amount of time. Whole, universal, and variable universal all have lifelong coverage. And with the whole, universal, and variable universal, your policy will accumulate cash value over time.³ You can use the cash value for anything you need throughout your life. And you can earn dividends⁶ with whole life that can be taken as cash, used to pay premiums, or buy more coverage. Find your advisor and ask them which type of life insurance will be best for you.

Can a life insurance policy earn money?

Yes. With whole life, you could earn dividends⁶ that can be taken as cash, used to pay premiums, or buy more coverage. Over time, whole, universal, and variable universal accumulates cash value. You can use this money for anything you need throughout your life.³

How does permanent life insurance work?

We promise to pay who you name (beneficiaries) a set amount of money when you're no longer here. You, in return, promise to make regular payments (premiums) to us.

We have three types of permanent life insurance to fit your needs: whole, universal, and variable universal. Not only will you have lifelong coverage, as long as you make payments, but you'll accumulate cash value (tax-deferred). You can use this money anything you wish.³

And with whole life, 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. Find your advisor if permanent life insurance is a good option for you.

What is the best life insurance to get?

The best type of life insurance for you depends on your needs and goals. You can get insurance like term life to simply be a safety net to protect your loved ones from the unexpected. Or you can get coverage like whole life insurance, universal life insurance, or variable universal life insurance that will be a key part of your comprehensive financial plan. Or you could even get a combination of both. Not sure which kind of life insurance is best for you? Your advisors can help you figure it out.

How do I get a life insurance policy?

Your insurance needs are unique, so it's important to work with your advisor so they can fully understand them. The first step is to get matched with your advisor. The first thing they'll do is ask deeper questions to identify the type of coverage (and how much) is right for you. Before issuing a policy, you'll answer some questions about your health and lifestyle. This will help us determine if you're qualified and what your premiums will cost.

What insurance riders does Northwestern Mutual offer?

A rider is an optional benefit or feature you can add to your life insurance policy—usually for an extra cost. No matter if you need whole life, universal life, variable universal life, or term life insurance, there's a rider available. Here's what you can consider:

• Waiver of Premium – We'll pay your premiums if you become totally disabled from sickness or accident.
• Additional Purchase Benefit – You can buy more coverage at certain ages or when you have certain life events, like getting married or having a child, regardless of changes in your health.
• Accelerated Care Benefit – You can use some of your death benefit early to help pay for qualified long-term care expenses, like assisted living or help with doing daily tasks.

Check out all of our available insurance riders. Or talk with your advisor about which rider or riders might best fit your goals.