Northwestern Mutual Long-Term Care Insurance Review | LTC News

northwestern mutual is one of the largest mutual insurance companies in the united states. Headquartered in Milwaukee, Wisconsin, Northwestern Mutual is ranked on the Fortune 500 Top 100 list of America’s largest corporations.

The company is well-respected and highly rated by ratings agencies, with a++ ratings from a.m. best and aa+ with standard and poor.

Reading: Northwestern mutual long term care insurance reviews

Northwestern Mutual’s primary insurance product is life insurance, but they offer long-term care insurance and often combine it with other products for clients with assets under management.

The firm offers wealth protection and asset income, education, retirement, investment advisory services, financial planning, trust and private client services, estate planning, and business planning.

expensive ltc option

northwestern mutual is one of the most expensive options for long-term care insurance, with substantially higher premiums than other companies comparing the same benefits. however, they do project dividend payments on their long-term care insurance policies. While this could offset some of the higher costs if they paid dividends, it would be doubtful that it would ever offset the much higher cost of the policy.

Product is sold exclusively by Northwest Mutual Life Agents.

ltc insurance key features and benefits

northwestern mutual key features and benefits:

  • monthly benefits from $1500 to $12,000 per month

  • benefit period of up to 6 years creates a pool of money

  • 12-52 week removal periods available

  • inflation options include 3%, 4% and 5% compounded or a guaranteed call option

  • survivorship benefit option

  • discounts for spouses

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    they do not offer spousal sharing benefits, a popular benefit offered by many companies.

    watch out for inflation profits

    Because this product is very expensive, many Northwest mutual financial advisors/brokers cite the product with a “guaranteed purchase option (gpo)” as the inflation benefit, or no inflation benefit at all.

    The gpo option is problematic as the policyholder’s premium increases over time. benefits only grow if the policyholder purchases these additional benefits when those options become available.

    be careful: your premium and benefits automatically increase unless you decline the option.

    In some states, this gpo feature certifies the policy as an association plan; however, not accepting an increase would nullify the benefits of the partnership.

    plus, not accepting these benefit increases may void future offers.


    northwestern mutual offers partnership long-term care insurance policies in the partnership states. association policies provide additional asset protection dollar for dollar.

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