Consumer Reviews and Complaints
I have been a Northwestern Mutual Customer since 1974, and I confess that for most of that time I trusted them and their agent. However, over the past year, NML constantly claims that they have not received our monthly premium payment, which is paid to them via our bank, despite the fact that we have canceled checks. NML has taken out loans against my policies to pay for premiums which are paid on a monthly basis. I called their hotline this past Monday, and the agent confirmed that yes, they had received the checks but had credited payment to one of the several policies they have created for me.
So that policy had a huge positive credit, while my other policies had been canceled. The agent on the phone said she would straighten the matter out for me and confirm it all in writing. Today I received a confirmation that they did receive my monthly payment for July, but they were canceling several policies for non payment of quarterly premiums. I have never paid quarterly premiums. At this point, I am filing a complaint with the Illinois Attorney General's Office.
HAPPY with our life insurance company, North Western. Our friend is our life insurance agent and we are all set and happy with our provider. If we ever have any questions or concerns, we get them addressed right away.
Although the premiums may be a bit more than other companies, Northwestern Mutual has a long history of doing the best thing for the customer and I know they will be there when my family needs them.
I like that I only get a letter once a year to ask me about my changes. I have the option of being called or not, depending if I need to change anything. I also like that when I became disabled, they let me know that they would pay my premium. I am currently filling out the paperwork now, but look forward to that option. I signed up when I was 18 and didn't realize I'd ever need that option.
Have used them for many years... Professional and responsive to our needs. Love using them and will highly recommend them to family and friends. Shop around and you won't find a better insurance company to choose from!
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My agent is not pushy and is flexible with my unstable income but helps me to set money aside for insurance. Northwestern Mutual also assists with financial planning so it has been extremely helpful to take control of my finances so that I may aspire to financial freedom.
My life insurance is pretty basic, just enough that I won't have to worry that my son is taken care of. As a single mom, I don't have a lot of extra money so I only got the most basic insurance.
Northwestern Mutual Life is an outstanding insurance company and provides me with the insurance I need to take care of my family in case something happens to me. I have a whole life policy with them and it builds cash which I can borrow from, if need be. My agent is an outstanding gentleman that has been my agent for almost 25 years. When he comes across something that he thinks might benefit me and my family, he calls and makes an appointment to come and see me. Usually he's right on with his recommendations and I am extremely pleased with him and the company.
Purchased a policy years ago. Has cash value and we have actually borrowed against it at one time. I never hear from the original selling agent nor another agent - so they are probably losing business - definitely from me and my husband.
Neal FrankleLife Insurance Contributing Editor
Neal Frankle is a Certified Financial Planner in Los Angeles. He is the publisher of WealthPilgrim.com, an information resource for consumers. He has been a professional financial advisor since 1991 and is the editor of www.MCMHA.org.
Northwestern Mutual Life Insurance is a financial services company that provides its clients various insurance options and investment opportunities. It can aid individuals and businesses to possess a lifetime of financial stability.
- Specialized planning: Northwestern Mutual creates flexibility through a range of financial options, such as life, disability, long-term care insurance, investment products and services.
- Guidance: It employs financial representatives who aid clients individually to develop a personalized account using their range of services and plans.
- Reliability: The life insurance plan has a persistency rate of 96 percent. Such a high persistency rate means a large percentage of policies stay in force through the end of the designated period.
- Long-term prioritizing: Northwestern Mutual wants financial stability for its clients and want to create long-term value for them. Thus, the company doesn't pursue short-term gains through fads or take unneeded risks.
- Educational tools: It offers the Northwestern Mutual Learning Center, which helps clients obtain their financial goals through online tools and resources including videos, articles and market information.
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Northwestern Mutual Life Insurance Company Profile
- Company Name:
- Northwestern Mutual Life Insurance
- Year Founded:
- 720 East Wisconsin Avenue
- Postal Code:
- United States