Northwestern Mutual Life is the BEST! - Northwest Mutual Life - Life
11 July 2008Northwest Mutual Life - Annuities PropertiesTelephone 414-271-1444Reseller or Type Type of InsuranceType Annuitie...
Northwest Mutual Life - Life PropertiesTelephone 414-271-1444Reseller or Type Type of InsuranceType Life ...
As a college intern for Northwestern Mutual Life, I can easily say that Northwestern Mutual Life offers the best life insurance product, term or perm (whole life).
The difference between term insurance and permanent (whole life)
Many of people might have seen commericals like GEICO Direct, or others where they advertise claims such as "$1,000,000 of insurance for only $10." This is very misleading- they are talking about a term insurance, and assume that you are young person in great health. This is where the topic of term vs. permanent (whole life) insurance comes in. Term insurance is like renting a house- you get a place to live for a certain while, but after a period of time, you get kicked out. In term insurance, your coverage only lasts for a specified period of time, and after that time period ends, then you lose your coverage. Some companies allow you to renew this, but you must be approved once again and your premiums go up. This can be a really frightening thought when the future of your family is on the line. Permanent insurance, has two distinct features which make it the insurance of choice, even though it costs more than term insurance. First, permanent insurance is guarenteed for as long as you live; coverage doesn’t stop for any reason at any time once you are covered. Second, permanent insurance allows you to build up cash value TAX-DEFERRED. What this means is that some of the portion of the premium you pay to the company is actually invested into different areas by the company. Depending on how much you pay and your payment plan length, your cash value grows. And the interest at which this grows is tax-deferred, so you don’t get taxed on your interest every year. This is huge; not only are you covered, but your insurance is also an investment.
So why Northwestern Mutual Life?
Easy, its the best company with the best product. I know I might seem biased becaue I worked there, but here are the facts:
Ratings & Assessments
-Northwestern has always received the highest possible rating from the four major rating services: Standard & Poor’s, AAA; Moody’s, Aaa; Duff & Phelps, AAA; A.M. Best’s, A++.
-Voted "most admired" life insurance company in its industry for 17 years by Fortune magazine.
-In 1999, for the first time, Fortune’s world survey included a category for health and life insurers. Northwestern Mutual is the most admired life insurance company in the world.
-Consistently named "Best Sales Force" in the life insurance industry in Sales & Marketing Management magazine surveys.
Industry Leader
-$583 billion of individual life insurance in force, the most of any company.
-Issued $76.5 billion in total individual life insurance coverage in 1999. Sold and issued more annually than any other company each of the last several years.
-A record $3.1 billion in dividends has been allocated for payment to policyowners in 2000. Over the last several years, Northwestern paid more ordinary life insurance dividends than any other company. In 1999, dividends exceeded the annual premium on about 65% of premium-paying permanent life insurance policies over 10 years old.
The key thing about Fortune naming NML as the "Most Admired" company 17 years is that it wasn’t Fortune who decided. All the other insurance companies voted NML as the best.
The Best Product
So here is the conclusion- NML offers a variey of insurance products, but there are some distinct advantages. With regard to the cash value accumulation of whole life products, NML has average a rate of return at about 8.8%, a great rate of return for something that is about as low risk as bonds. Most companies average 4-5%. Also, NML is not a publicly traded company. Thus they pay out dividends to their policyholders- these dividends can be used in a variety of ways. So if you are looking for the best life insurance product, choose Northwestern Mutual Life. To find out the different types of products Northwestern Mutual Life has to offer, please talk to a your local Northwestern Mutual Life agent.
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