Adfasel.xyz – Northwestern Mutual Life Insurance Cost. Simple and highly flexible, Life Plus allows advisors to tailor life insurance solutions to meet a wide range of individual financial planning needs.
MILWAUKEE, Sept. 4, 2019 /PRWire/ — Northwestern Mutual announced the launch of its new Life Plus Series, a streamlined, highly customizable life insurance offering. Building on more than 160 years of insurance experience, the company’s new life product line provides greater flexibility as well as industry-leading long-term value for today’s complex planning environment.
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“Clients face a myriad of challenges and goals, from retirement savings and college financing to long-term care and estate planning. Life insurance is an essential component of comprehensive financial planning, so our goal was to help make this asset easier to understand and use,” said David. “It’s more customizable by providing more ways for customers to apply it to their individual financial situations,” said Simbro, senior vice president of risk products at Northwestern Mutual.
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The first product release is Whole Life Plus, which uses a platform approach to create a customized solution to meet a customer’s individual needs and budget. Customization can include different features such as:
In addition to Whole Life products, new Universal Life products will be available later this fall as part of the new collection.
“Years of research and experience have given us a deep understanding of what people need to achieve financial security,” Simbro said. “We know there are significant benefits to having life insurance as part of a financial plan. It builds accrued value that you can use for almost anything while protecting yourself and the people you love.”
Northwestern Mutual’s 2019 Planning and Progress Study found that those with life insurance feel more financially secure:
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The study also found that despite these benefits, six in 10 Americans do not have any form of life insurance either on their own or through an employer.
“The complexity of life insurance has long been a barrier to people’s purchasing decisions,” Simbro said. “With this new series, we have one simpler, better product – instead of several – for better long-term value and flexibility to meet most long-term financial goals.”
The new series was developed through a collaborative process with input from Northwestern Mutual’s financial advisors and with guidance from customer insights. The result is an innovative, client-focused approach to this legacy product that enables the advisor to tailor life insurance solutions based on a client’s risk profile (including guaranteed death benefits), performance needs (accumulated value) and budgetary considerations.
The new Life product series also provides stability and continuity to customers, supported by Northwestern Mutual’s continued strong financial performance. Northwestern Mutual maintains the highest financial strength ratings of any life insurance company in the United States from all major rating agencies. Additionally, policyholders received approximately $5.6 billion in gains through the company’s 2019 dividend. This payment led the industry and is the largest payment in the company’s history.
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The 2019 Planning and Progress Survey was conducted by The Harris Poll on behalf of Northwestern Mutual and included 2,003 U.S. adults ages 18 and older from the general population and 281 U.S. adults ages 18 to 22 who participated in an online survey on February 20, 2019, and March 5. Results were weighted according to census targets for education, age/sex, race/ethnicity, region, and household income. Propensity score weighting was also used to adjust for participants’ propensity to be online. Estimates of theoretical sampling error cannot be calculated; The full methodology is available.
Northwestern Mutual has been helping families and businesses achieve financial security for more than 160 years. With a distinctive, personalized planning approach, Northwestern Mutual combines the expertise of its financial advisors with digital expertise to help its clients navigate their financial lives every day. With $272.2 billion in assets, $28.5 billion in revenue, and $1.8 trillion in life insurance protection, Northwestern Mutual provides financial security to more than 4.5 million people through life, disability, long-term care insurance, annuities, and Mediation and advisory services. The firm manages approximately $150 billion in investments held or managed by its clients through its wealth management and investment services businesses. Northwestern Mutual was ranked No. 111 on the 2019 FORTUNE 500 list and was recognized by FORTUNE® as one of the “World’s Most Admired” life insurance companies for 2019.
Northwestern Mutual is the marketing name of Northwestern Mutual Life Insurance Company (NM), Milwaukee, Wisconsin (life and disability insurance, annuities and life insurance with long-term care benefits) and its subsidiaries. Affiliates include Northwestern Mutual Investment Services, LLC (NMIS) (securities), broker-dealer, registered investment advisor, member FINRA and SIPC; Northwestern Mutual Wealth Management Company® (NMWMC) (fiduciary and fee-based financial planning services), a federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC). Dan Wesley is an American businessman and CEO. He is an insurance and personal finance expert known for creating web portals that connect people with resources to help them achieve their goals. As a mentor and leader to many, Dan strives to position himself and those around him for success. Experience Dan graduated in 2000 with a degree in Nuclear Medicine. Dan left the medications but continued…
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Now that you’ve decided it’s time to consider life insurance, the main question you may have is: “If something bad happens to me, what type of life insurance is best for my family?”
But not having life insurance doesn’t make any sense if you’re truly committed to protecting your family financially in a worst-case scenario.
The problem is that choosing the right life insurance policy for your family’s needs can be difficult.
How Much Does Life Insurance Cost?
Our goal here is to help you find the best rates on almost everything, including life insurance.
That’s why we’ve put information about these life insurance companies in a simple format, highlighting the most important points you need to know about each provider.
To help you make an informed decision, we’ve compiled a list of everything you need to know about the best life insurance companies for 2018.
Before we get started, it’s important to know the difference between the two main types of life insurance: term and permanent.
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The titles give it away. As their names indicate, term life insurance is for a fixed, temporary term and permanent life insurance is for life.
The special features of permanent life insurance make it expensive in terms of cash flow and not an ideal long-term investment.
Permanent life insurance at an additional cost. Since permanent life insurance always involves a payout when the insured person dies, premiums are much more expensive than term life insurance premiums.
Lifetime is cheaper. Many term life insurance policies expire before the client’s death and do not require a cash withdrawal, meaning they cost much less.
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Permanent life insurance works for the rich. Permanent life insurance is a good option for people who plan to leave an estate worth millions of dollars to their family members (the proceeds are tax deductible, so they can help reduce estate taxes).
Not a good investment. Permanent life insurance policies are marketed as investments because they grow your money over time.
The truth is that almost any other investment will be more profitable than investing money in a permanent life insurance policy.
For example, if you pay a premium of $9,370 annually for a permanent life insurance policy, your cash value will be $181,630 after 20 years.
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If you choose a 20-year life policy with an annual premium of $480, you can invest the difference in annual premiums of $8,890 and turn it into $480,806 with an 8% ROI.
Whole and universal life insurance has an investment and death benefit. The two types of permanent life insurance are whole life and universal life insurance.
The only difference is that with comprehensive insurance there is flexibility in premiums, while all types of insurance have standard fixed payments.
When we look at the insurance needs of most Americans, we talk about term life insurance.
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Term life insurance is for people with dependents (husbands, wives, children, etc.) who want to ensure that those who depend on them will be financially stable if something tragic happens to them.
Think of it as a guarantee of your income. A person is advised to take out term life insurance during the best earning years.
If you think your children won’t depend on you after 20 years, then 20 years will do the trick.
If you think it may take 30 years before everyone in your family can live comfortably without you or your income, choose a 30-year term.