A review of the Northwestern Mutual Health Insurance Company leads to Northwestern Mutual. With corporate offices located in Milwaukee, Wisconsin, the company has been in existence since 1857. It provides insurance and investment products to over 3,000,000 customers throughout the United States. Their products are offered to both individuals and businesses; however, their health insurance offerings are only through employee benefit plans that are available to businesses.
Northwestern Mutual Overview
Northwestern Mutual is the largest direct provider of personal life insurance. The company has withstood tests of time and events such as wars, stock market crashes, recessions, depressions, and 9/11; it remains financially strong to this day. The company prides itself on “doing the right thing” by its clients in times of great tragedies, putting the needs of the client first.
With the tragedy of 9/11, 157 of Northwestern Mutual policyholders perished, the largest amount since the sinking of the Titanic. The company was there for the surviving family members and processed $125 million in claims that weekend that were paid within five days of receipt of claims.
Northwestern Mutual is able to provide its services and products through its four subsidiaries:
- Northwestern Long Term Care Insurance Company
- Northwestern Mutual Investment Services, LLC
- Northwestern Mutual Wealth Management Company
- Russell Investments
Northwestern Mutual Products for Individuals
As previously mentioned, Northwestern Mutual offers both insurance and investment products for individuals, including the following:
- Life Insurance
- Disability insurance
- Long-Term Care Insurance
- Mutual Funds
- Education Funding
- Cash Management
Northwestern Mutual offers several options for life insurance based on the needs of their clients. These including term life insurance, universal life insurance and variable life insurance.
In addition to the products listed above, Northwestern Mutual offers a variety of products to allow their clients to diversify their portfolios along with financial planning services. These products include investment opportunities such as bonds, custodial accounts, and money market funds.
Northwestern Mutual Business Insurance Products
Northwestern Mutual also offers insurance, employee benefit plans, and retirement solutions for businesses. Many businesses rely on business insurance to plan for the future by providing for business continuation and succession, executive benefits, and key person coverage. Taking these factors into consideration when planning allows the means for the business to continue in the event of the unexpected, including the death or disability of key personnel.
Business disability insurance such as disability overhead expense, disability key person, and disability buy-out insurance also provide the means needed to continue a business in the event the owner or key personnel becomes disabled, and are unable to direct or work for the business any longer.
Northwestern Mutual Employee Benefit Products
Northwestern Mutual realizes that in order for companies to attract and retain high caliber employees, they must offer quality benefit packages. Medical, dental and vision insurance is offered through Northwestern Mutual’s subsidiary Strategic Employee Benefits Services, which was established in 1984. Plans are customized to their clients’ needs and include such options as:
- Group medical
- Group disability – short and long-term
- Group life insurance
- Accidental death and dismemberment
- Group dental
- Voluntary plans
- COBRA administration
Retirement solutions are offered by Northwestern Mutual Investment Services, LLC, a subsidiary of Northwestern Mutual. These solutions include:
- Business retirement plan services
- Qualified retirement plans
- Executive benefits
Northwestern Mutual Financial Strength
Northwestern Mutual has received high ratings from all of the major independent insurance rating agencies. These ratings attest to the company’s overall financial strength and ability to meet its claims obligations.
A.M. Best Company has awarded Northwestern Mutual with the highest rating of “A++.” Standard and Poor’s has given the company a rating of “AA+.” Their experience and stable earnings have also earned them high marks from both Moody’s (Aaa) and Fitch Ratings (AAA).
Additionally, Northwestern Mutual has received many accolades for their financial strength. They were ranked 112th on Fortune 500’s list with having over $180 billion in assets.
Northwestern Mutual Contact Information
Northwestern Mutual Life Insurance Company
720 East Wisconsin Avenue
Milwaukee, WI 53202
Phone number: 414-271-1444
Northwestern Mutual Careers
Northwestern Mutual has received many awards for such career-related lists as Bloomberg’s BusinessWeek’s 2009 Best Internship and 50 Best Places to Launch a Career. Interested persons should go to their website to register for and view available opportunities within the company.