- Ranked high in a J.D. Power customer satisfaction survey.
- Eligible customers can receive dividends.
As a mutual company, Northwestern Mutual is owned by its policyholders, some of whom are eligible to share in annual dividends when the company does well. The company expects to pay $6 billion in dividends in 2020, the highest payout in its history.
Northwestern Mutual life insurance
Northwestern Mutual earned 5 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account complaint data from the National Association of Insurance Commissioners and financial strength ratings from A.M. Best.
Based on these ratings, Northwestern Mutual is among NerdWallet’s Best Life Insurance Companies for 2020.
Northwestern Mutual offers term, whole and universal life insurance policies. The company’s term and universal life insurance options give customers flexible payment and coverage choices. With whole life insurance, premiums stay level for the life of the policy.
Term life insurance policies can have level payments that don’t change over the length or your term, or premiums that start low and increase each year. Northwestern Mutual’s term policies can be converted to whole life policies without a medical exam.
Additionally, Northwestern Mutual offers two types of universal life insurance: The “Single-Premium” universal life policy can be purchased with a single lump-sum payment. The “Custom Universal Life” policy lets the policy owner adjust the death benefit and the price for coverage as needs change.
» MORE: Compare life insurance quotes
Northwestern Mutual complaints and customer satisfaction
Over three years, Northwestern Mutual has drawn significantly fewer complaints to state regulators than expected for a company of its size, according to a NerdWallet analysis of data from the National Association of Insurance Commissioners.
Additionally, Northwestern Mutual ranks highly for customer service, according to research firm J.D. Power’s 2019 U.S. Life Insurance Study. The company scored highest overall among 24 of the largest U.S. life insurers.
|Customer satisfaction category||Northwestern Mutual's score|
|Overall satisfaction||Among the best|
|Policy offerings||Among the best|
|Price||Among the best|
|Billing and payment||Better than most|
|Interaction||Better than most|
|Communication||Among the best|
|Application process||Better than most|
Methodology: Life insurance ratingsNerdWallet’s life insurance ratings are based on weighted averages of complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and financial strength ratings from A.M. Best, which indicate a company’s ability to pay future claims. To calculate each insurer’s rating, we adjusted the NAIC and A.M. Best scores to a curved 5-point scale.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews.