Compare Northwestern Mutual Long-Term Care Insurance

Consumers considering long-term care insurance rarely understand that there can be a significant difference between policies. Not only do the prices (costs) vary, but the available discounts and options can differ. And, those differences can really matter come claim time.

Most of what you'll read on the Internet is very generic. And, most of those who write, tend to copy the same old stuff that has been posted elsewhere.

What really matters is what it says in the actual policy. You won't get a copy of that until you apply and are accepted. And, because the typical long-term care insurance policy is between 40 and 50 pages of policy provisions, legal definitions, conditions and clauses -- chances are you'll never read your policy (that can be a costly mistake, but we understand.

The Association has sought input from leading long term care insurance specialists who do read the policies. That's what you'll see below. We can't cover all the details here ... and policies can vary by state. We merely attempt to address some of the questions often asked by consumers considering long term care insurance protection.

After reading the information here, if you have questions or want to speak with a specialist, please call the Association offices at (818) 597-3227.

Or, you can click the REQUEST A QUOTE box. Complete the form. We will share your information with ONLY ONE specialist.

Northwestern Mutual Long Term Care Insurance Company - Some Key Facts

Northwestern Mutual was founded as the Mutual Life Insurance Company of the State of Wisconsin in 1857. Throughout much of the 20th century the insurance company focused on life insurance products. However, in 1969 the company began offering disability income insurance, its first non-life insurance offering. Within the next few years, a series of retirement annuities were introduced for the employee benefits market. In the 1990s, the company introduced long-term care insurance.

Northwestern Mutual is now one of the largest providers of new long-term care insurance policies in the U.S. According to the Association's 2014 LTC Sourcebook, Northwestern Mutual has some 138,000 policies in force which is about 2 percent of the market (NAIC, 2011 Covered lives).

Northwestern Mutual Ratings (Always subject to change)

Compare Costs Northwestern Mutual Long Term Care Insurance

The following are merely 'snapshots' of three common situations.

Northwestern Mutual DIFFERENCES - Northwestern Mutual policies may offer advantages in these situations.

Their health underwriting tends to be more liberal as compared to other long term care insurance companies.
They have some of the highest financial ratings of any company selling long term care insurance.
They have never requested a rate increase on any of their long term care insurance policyholders.
They have paid and continue to project dividend payments on their long term care insurance policies. Dividends are used to lower (future) premiums the longer a policyholder keeps their policy in-force(active). NOTE: The dividends start out low but do increase gradually over time..

Northwestern Mutual DIFFERENCES - Northwestern Mutual policies may have disadvantages in these situations.

NO preferred health discounts are offered (a negative for younger individuals who are in good health).
When comparing nearly identical benefits with other financially sound insurance companies, their premiums are (in many cases) 50% to 60% higher.
Individuals adding an INFLATION GROWTH OPTION (where the benefits will increase yearly) typically can purchase coverage for less from other A+ rated insurers.
Very limited choices for benefit periods (far less flexibility for consumers).

DISCOUNT DIFFERENCES - Northwestern Mutual policies may (or may NOT) offer these valuable options

NO shared care (for couples).
NO Partnership policies in New York, California, Connecticut or Indiana.