Northwestern Mutual LOG IN CLAIMS UNIVERSAL LIFE INSURANCE Great coverage can be flexible. What is universal life insurance? A universal life policy lets you build cash value, like a whole life policy does, and offers flexible premium payments, death benefits and schedules to fit your life and your budget. All while protecting your family with great coverage. How Much Do You Know About Life Insurance? Take our quiz Universal life insurance may be the right choice if you want: Coverage that can last your entire life. The chance to build cash value, that grows tax-deferred, and that you can use later for other financial goals.1 The option to adjust the amount of life insurance protection you want (within limits). Flexible premiums — you control the amount and frequency of your payments. (Note: the amount and timing of your payments will directly affect your policy's cash value, as well as your ability to maintain coverage in the future. Your policy's cash value will increase faster if you pay more premium in the early years and you choose to make regular payments.) We offer two types of universal life insurance Custom Universal Life (CUL) CUL gives you the highest flexibility when it comes to choosing your death benefit and premium payment schedule, providing: The ability to meet a wide array of insurance objectives. Flexibility to match your protection to your needs. The ability to build your cash value, tax deferred. Single Premium A Single Premium universal life policy lets you pay a lump-sum from an inheritance, bonus, or other source of income to purchase a permanent life insurance policy and provide your heirs with an income-tax-free lump-sum payment (death benefit) that can be larger than your one-time premium payment. Life Insurance Calculator How much life insurance is right for you? CALCULATE IT The Northwestern Mutual difference A++ financial strength rating AAA, Aaa, and AA+ the highest financial strength ratings of any life insurer from all four major rating agencies2 No. 1 in client satisfaction Best Life Insurance Company ranked by NerdWallet, 20203 163 Years strong through depressions, downturns, and two world wars Take the next step. Our financial advisors work with you to help you find the right type of insurance, and the right amount, for your needs, goals, and budget. It's easy to get started—no commitment, just a conversation. LET'S TALK RELATED LINKS Daily Unit Values: Universal Life Insurance 1Your policy's cash value typically becomes a useful source of funds only after several years of premium payments, which allows the cash value to build up. Each method of utilizing your policy's cash value has advantages and disadvantages and is subject to different tax consequences. Surrenders of, withdrawals from and loans against a policy will reduce the policy's cash surrender value and death benefit and may also affect any dividends paid on the policy. As a general rule, surrenders and withdrawals are taxable to the extent they exceed the cost basis of the policy, while loans are not taxable when taken. Loans taken against a life insurance policy can have adverse effects if not managed properly. Policy loans and automatic premium loans, including any accrued interest, must be repaid in cash or from policy values upon policy termination or the death of the insured. Repayment of loans from policy values (other than death proceeds) can potentially trigger a significant tax liability, and there may be little or no cash value remaining in the policy to pay the tax. If loans equal or exceed the cash value, the policy will terminate if additional cash payments are not made. Policyowners should consult with their tax advisors about the potential impact of any surrenders, withdrawals or loans. 2Northwestern Mutual continues to have the highest financial strength ratings awarded to any U.S. life insurer by all four of the major rating agencies: A.M. Best Company, A++ (highest), May 2021; Fitch Ratings, AAA (highest), July 2021; Moody's Investors Service, Aaa (highest), July 2021; S&P Global Ratings, AA+ (second highest), July 2021. Third-party ratings are subject to change. Ratings are for The Northwestern Mutual Life Insurance Company and Northwestern Long Term Care Insurance Company. 3©2017–2020 and TM, NerdWallet, Inc. All Rights Reserved. NM–UL (0719) Find What You're Looking for at Northwestern Mutual Northwestern Mutual General Disclaimer Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. Life and disability insurance, annuities, and life insurance with long-term care benefits are issued by The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM). Long-term care insurance is issued by Northwestern Long Term Care Insurance Company, Milwaukee, WI, (NLTC) a subsidiary of NM. Investment brokerage services are offered through Northwestern Mutual Investment Services, LLC (NMIS) a subsidiary of NM, broker-dealer, registered investment adviser, and member FINRA and SIPC. Investment advisory and trust services are offered through Northwestern Mutual Wealth Management Company (NMWMC), Milwaukee, WI, a subsidiary of NM and a federal savings bank. Products and services referenced are offered and sold only by appropriately appointed and licensed entities and financial advisors and professionals. Not all products and services are available in all states. Not all Northwestern Mutual representatives are advisors. Only those representatives with "Advisor" in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services. Northwestern Mutual Footer Navigation About Us Newsroom Careers Information Protection Business Services Contact Us FAQs Legal Notice Sitemap Privacy Notices Connect with us Facebook iconConnect with us on Facebook Twitter iconFollow Northwestern Mutual on Twitter LinkedIn iconVisit Northwestern Mutual on LinkedIn Instagram iconFollow Northwestern Mutual on Instagram YouTube iconConnect with Northwestern Mutual on YouTube Over 6,400 Financial Advisors and Professionals Nationwide* Find an Advisor Footer Copyright *Based on Northwestern Mutual internal data, not applicable exclusively to disability insurance products. Copyright © 2021 The Northwestern Mutual Life Insurance Company, Milwaukee, WI. All Rights Reserved. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries.