As a mutual company, Northwestern Mutual is owned by its policyholders, rather than stockholders, who can receive dividends based on the company’s investment performance. So if you develop a health condition after you buy your term policy, it won’t be factored into the cost of your permanent policy when you get it later. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. They combine a base of permanent coverage with optional term coverage in a proportion decided by you, and because of the whole life component, it will build cash value. Here’s how it works: You pay yearly premiums (you can pay quarterly or monthly too, if you prefer) for a set number of years (the term). Sources: Financial Advisor magazine and Investment News, May 2019. They combine a base of permanent coverage with optional term coverage in a proportion decided by you, and because of the whole life component, it will build cash value. The Northwestern Mutual Life Insurance Company (And Northwestern Long Term Care Insurance Co. Thu 13 Aug, 2020 - 8:11 AM ET Northwestern Mutual Life Insurance Company (NM) benefits from its exceptionally strong capitalization, low … AAA, Aaa, and AA+ the highest financial strength ratings of any life insurer from all four major rating agencies2, Best Life Insurance Company ranked by NerdWallet, 20203, Years strong through depressions, downturns, and two world wars. Sources: Financial Advisor magazine and Investment News, May 2019. As a mutual company, Northwestern Mutual is owned by its policyholders, rather than stockholders, who can receive dividends based on the company’s investment performance. Term life insurance is typically cheaper than the other main type of life insurance: permanent. Its clients work with a financial adviser, which means that customers can receive help evaluating life insurance options and other products from a holistic financial planning perspective for both short-term and long-term financial goals. That’s because permanent life insurance will pay a death benefit no matter when you die, and it accumulates cash value that you can access during your lifetime. These policies are typically offered up to a certain age, like 80. Term life insurance can be an inexpensive way to help them financially if the unthinkable happens to you. As the name suggests, your premium stays the same each year. Life and disability insurance, annuities, and life insurance with long-term care benefits are issued by The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM). Investment advisory and trust services are offered through Northwestern Mutual Wealth Management Company® (NMWMC), Milwaukee, WI, a subsidiary of NM and a federal savings bank. The Northwestern Mutual Life Insurance Company offers a large selection of policy types, including term, permanent life insurance, and a combination policy with term and whole combined. Term insurance offers coverage for a specific period of time—the term. Investment advisory and trust services are offered through Northwestern Mutual Wealth Management Company® (NMWMC), Milwaukee, WI, a subsidiary of NM and a federal savings bank. 2Northwestern Mutual continues to have the highest financial strength ratings awarded to any U.S. life insurer by all four of the major rating agencies: A.M. Best Company, A++ (highest), April 2020; Fitch Ratings, AAA (highest), August 2020; Moody's Investors Service, Aaa (highest), July 2020; S&P Global Ratings, AA+ (second highest), June 2020. The Custom Universal Life (CUL) – Accumulator is the main universal life insurance option from the Northwestern Mutual Life Insurance Company. 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