Northwestern Mutual is one of the largest financial institutions in the United States with an annual revenue in excess of $20 billion. Founded in 1857, the company is based in Milwaukee, Wisconsin.
Products Offered
Northwestern Mutual offers the following products to its customers:
Northwestern Mutual Life Insurance
If you have a family, then a life insurance is a must for you. This will safeguard the financial security of your family in case something happens to you. You can choose from various types of life insurance – Permanent Life Insurance, Term Life Insurance or a Combination Life Insurance. The Permanent Life Insurance policy pays a death benefit irrespective of when you dies. It offers you protection as long as you need it, helps your children or grand children attend a college of their choice and also accumulates money so that you have a supplemental income when you retire. There are a number of Permanent Life Insurance products to choose from – 65/90 life insurance, limited pay life insurance, universal life insurance, universal life insurance guaranteed, variable life insurance and combination life insurance. The Term Life Insurance promises to pay your nominees the proceeds of your death if you dies within a fixed term. After the expiry of the term, you will have to renew the policy. A Combination Life Insurance policy may include a permanent life insurance, a term life insurance and any other additions, all of which can be mixed in any proportion you wish.
Disability Insurance
If you are the sole earner in your family, then you will need a Disability Insurance to ensure that your family’s financial situation is not affected in the event that you are unable to work. In fact, you may stand a greater chance of being disabled and short of cash rather than dying prematurely. The policy guarantees you income no matter how severe your inability to earn income – whether you have to take an extended leave due to headaches, have to be hospitalized due to any serious affliction etc.
Annuities
This helps you plan your retirement more efficiently. Annuities provide you a regular stream of income after retirement either for a specific period of time or the rest of your life. You can choose to receive income from either a fixed income plan or any other plan where income is tied to the performance of any investment. You can choose from multiple Annuities like deferred annuities, income annuities and portfolio income annuities.
Education Funding
As the name suggests, education funding plan offers you the option to plan for your child’s college education. You can choose from either a 529 Plan or a Coverdell Education Savings Account. Both are ideal planning instruments.
In addition to the above, the company also offers other products like long term care insurance, mutual funds, bonds, money market fund accounts and more. If you have any further questions, you can contact Northwestern Mutual at 414-271-1444. You can also visit their website at www.northwesternmutual.com for more details.
