Northwestern Mutual Life Insurance
Northwestern Mutual Life Insurance
Overall Satisfaction Rating
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars
Based on 15 reviews that contain star ratingsSHOW RATING DISTRIBUTION

Northwestern Mutual Life Insurance

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15 Northwestern Mutual Life Insurance Consumer Reviews and Complaints

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Verified Reviewer
Original review: May 18, 2018

You know after dealing with someone for 10 years you would think there was a little bit of trust and honesty. NW agent that have sold me mutiple policies became a different person, once I said I would like to cancel my policy. Everyone from sales agent all the way to the underwriting and cancelation depart gave me such a difficult time. Given the brutal experience that I have to go through to get my policy cancelled within the free look period it doesn't provide me with any assurance that once I'm dead that Northwestern will willfully pay on my policies. Be careful of disgusting companies like this. Should also check their financials before buying any insurance policy from them. It doesn't sit right with me when you have 1.7T dollars of life insurance obligation but only 275B balance sheet. How does that work? Oh yeah, first in first out. I went with Mass Mutual.

3 people found this review helpful
Verified Reviewer
Original review: April 20, 2018

I had unknown # calls. I Googled and found out it was Dennis ** team from N W M. I have 2 term life insurance with them. 1 about to expire in couple of years and another one in 5 years. So I asked to call me back, I may be interested. Then realized I didn't want to be solicited. Call to left message not to call me. I will call when I am ready to get another policy. Dennis call me couple times anyway. I texted politely not to call me, thank you. That's when he text me nasty letter saying I should consider canceling my policies, leaving me weird number to find out when and how to cancel. Which policies I had for so long? I DO NOT WANT TO CANCEL! I called Northwestern Mutual to report the incident. John from management office return my call very quickly. 0 star for Dennis and 5 stars for John.

2 people found this review helpful
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Verified Reviewer
Original review: April 20, 2018

I bought a whole life insurance policy in 2010. It was sold to my wife and I as an investment. Now, 8 years later, we have paid approximately $47,000. Our policies are worth $40,000. A loss of $7000 during one of the great bull markets of the last century! If we subtract the value of the life insurance during that time, it is still at least a $5000 loss. It was also sold as a tax shield, but the only tax avoidance here is due to the capital losses you will endure. As a lawyer, I am embarrassed that I made this mistake. My advice: if you need insurance, buy term. If you want to invest, max your 401(k) at work, or open a simple IRA with Vanguard. Avoid these slick salesmen!

7 people found this review helpful
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Verified Reviewer
Original review: March 16, 2018

I started with Northwestern Mutual over 20 years ago. I purchased an IRA and a whole life policy. The whole life policy was supposed to have a cash value ($60,000) after 18 years to put my daughter through college. After a few years, I could see there was no chance I was going to have enough for my daughter’s secondary education. I cancelled my policy and put the money into a 529 plan. My IRA investment wasn't much better. I decide to transfer my funds to Fidelity Investments. I asked Northwestern to transfer my funds the first of February, four weeks later they sent me a letter along with ten pages to complete to approve the transfer.

Three weeks later and my funds haven't been transferred. My wife tried to transfer her IRA to Fidelity and she will be forced to keep her money in Northwestern for the next seven years. Apparently, once you give Northwestern your money they charge you an outrageous penalty fee if you want to take it somewhere else. You basically need to leave your money with them untouched for seven years. Every time you put money in your IRA it restarts the clock. Don't make the same mistake I made.

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12 people found this review helpful
Verified Reviewer
Original review: March 10, 2018

My experience overall has been less than ideal. After being convinced that a whole life policy was the way to go, and paying for YEARS... Did some research and could see that I would have been much farther ahead financially if I'd just invested the money in a mutual fund. When I decided to cancel the whole life policy, my rep was very obviously displeased. He went from being Mr. Friendly to being a borderline jerk. But that's his problem, not mine. He was looking out for his own financial security, not mine. I kept a term policy with the company. And God forbid you should forget your password and try to retrieve it on a Saturday. I've been on hold for 35 minutes waiting for someone on their "web team" to get to me. There is no way to actually reset your password online, but the system will make you fill out security questions like there is no tomorrow. Go someplace else for your needs if you need actual service and solid advice.

8 people found this review helpful
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Verified Reviewer
Original review: Oct. 11, 2017

Stephen ** lied on the sale of an annuity and other lies. He said I would have $100,000 left after the sale when in fact I had only $35,000. I have undeniable proof for all this. He tied up all my money in 2 annuities and now I only have $25,000 money to access. I am 69 years old, so I am in financial hardship because he sold me these annuities. He also told me he is salaried and does not work on commission to gain my trust. I later found out he is commissioned! This was verbal and I have no proof. But Stephen ** is NOT to be trusted in anything he says. I have more I can tell you, if you need to hear more.

30 people found this review helpful
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Verified Reviewer
Original review: July 13, 2017

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.

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35 people found this review helpful
Verified Reviewer
Original review: Feb. 23, 2016

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.

6 people found this review helpful
Verified Reviewer
Original review: Jan. 12, 2016

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.

8 people found this review helpful
Verified Reviewer
Original review: Jan. 8, 2016

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.

11 people found this review helpful
Verified Reviewer
Original review: Jan. 4, 2016

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!

9 people found this review helpful
Verified Reviewer
Original review: Dec. 15, 2015

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.

11 people found this review helpful
Verified Reviewer
Original review: Dec. 8, 2015

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.

15 people found this review helpful
Verified Reviewer
Original review: Dec. 4, 2015

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.

11 people found this review helpful
Verified Reviewer
Original review: Nov. 30, 2015

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.

22 people found this review helpful

Northwestern Mutual Life Insurance expert review by Neal Frankle

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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Neal Frankle

Life Insurance Contributing Editor

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Neal Frankle is a Certified Financial Planner in Los Angeles. He is the publisher of, an information resource for consumers. He has been a professional financial advisor since 1991 and is the editor of

Northwestern Mutual Life Insurance Company Information

Company Name:
Northwestern Mutual Life Insurance
Year Founded:
720 East Wisconsin Avenue
Postal Code:
United States

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