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Northwestern Mutual Life Insurance Online Reviews

Company Name: Northwestern Mutual Life Insurance
Year Founded: 1857
Address: 720 East Wisconsin Avenue
City: Milwaukee
State/Province: WI
Postal Code: 53202
Country: United States
Overall average rating of 2.6 out of 5, and the percentage of positive recommendations 18 %
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 was approached by one of Northwestern Mutual's (MW) purported "financial advisors," who told me that he was a fiduciary. After a brief coffee-appointment, we met again at his office to discuss a more detailed financial plan. His advice was to invest in a Whole Life Insurance policy. (He failed to tell me about what commission he would receive if I were to complete the transaction.)Later the next day, his assistant sent me an incomplete insurance-application PDF to sign within 48 hours. I told him there were many problems and false statements on it, but his assistant told me that if I signed it—which was under penalty of perjury—they could change the text of the form after the fact before sending it.I'm fairly confident that giving false statements to an insurance company isn't a good thing to do. I then realized that, because this was an insurance policy, the "financial advisor" had no fiduciary obligation to me in procuring it under section 2-2201 of the Code of Civil Procedure. When I confronted him by email about this, directing him to stop communicating with me, he said he was still a fiduciary. But the law was clear: insurance agents owe no fiduciary duties in procuring, selling, or preparing insurance policies. Obviously, Whole Life Insurance is an insurance policy. So, end of story.The encounter was full of red flags, I cut all ties with Northwestern Mutual before signing anything. I'm sure it's a fine insurance company. But this experience didn't get any confidence from me in them as financial planners. If you've been approached by one of their "financial advisors" and they try to sell you an insurance policy, do your research before you sign anything about whether it's actually a good decision *for you.* A quick Google search of "Northwestern Mutual whole life" will get you a lot of message-board posts about people who regret buying these policies.
Having worked at the trade center site after 9/11 I got sick. I held on for 13 years. Finally all my physical illness prevented me from going to work and doing my job as my own occupation. Never had any claims now after paying them for 22 years and receiving my Disability for a little over a year, mind you it is for life and now they are looking for any angle to get out of paying. I hope any potential customer reads this and thinks about buying any policy from them, I will keep everyone posted.
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.
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.
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.
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!
My Experience with Northwestern Mutual has been absolutely horrendous. I first started using this company in 2016 and after I was signed up I did not hear one thing from my representative, Christina **. Christina is probably the worst financial advisor I have had the displeasure of working with, she will not return calls, she will not help you, she does not care about anything except her money. I have tried to call Northwestern Mutual Customer Service to complain and they have yet to respond to me and it has been weeks. I would not recommend Northwestern Mutual or any Financial Advisor that works for them. Christina ** has absolutely ruined this experience, save yourself the time and money.
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.
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.
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.
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