Northwestern National Life Insurance Company Review (2024)

Northwestern National sells life insurance for business owners as Reliastar Life Insurance Company. The company only provides group term life and whole life plans through employers. However, the company has several riders and has been rated an A by A.M. Best.

Knowing more about the Northwestern National Life Insurance Company will help you decide if it’s the right fit.

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Does the Northwestern National Life Insurance Company have competitive rates?

The cost of life insurance is a common concern for many customers. When determining rates, life insurance companies use various individual factors, and companies value them differently. Some of the common aspects used to determine rates include:

• Age
• Gender
• Health/Physical Conditions
• Location

Since companies use many situational factors to determine rates, it’s impossible to predict rates without personal information. However, comparing the average rates of multiple companies will allow you to decide which ones are the cheapest.

The following chart compares the average Northwestern National Life Insurance Company rates for a 20-year term life policy at $250,000 with other companies.

Average Monthly Northwestern National Life Insurance Company Rates vs. Other Companies for a 250,000, 20-Year Term Policy

Company	Average Monthly Life Insurance Rates
AAA	$16.72
MassMutual	$14.47
Mutual of Omaha	$14.09
Nationwide	$15.42
Northwestern National	$28.88
Progressive	$20.56
Prudential	$33.89
State Farm	$17.41
Transamerica	$12.15

As you can see, Northwestern National has higher rates than many competitors. However, the company only sells group coverage through employers. As a result, an employer might pay a portion of the cost, resulting in lower rates.

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What coverages are offered by the Northwestern National Life Insurance Company?

In the past, Northwestern National sold individual policies to customers. However, Voya Financial acquired the company in 2000 and stopped selling these policies in 2019. As a result, Northwestern National only sells group term life and whole life coverage.

Group life policies don’t offer as much customization as individual policies. While customization is still available, employers must buy these options for employees. However, all employees are eligible for coverage and won’t be denied based on good health or bad health.

Another bonus of a group life plan is that businesses deduct payments from payroll. As a result, you don’t have to worry about making payments on time as the company takes them directly out of your paycheck. In some cases, your employer might even pay for part of the plan.

Northwestern National provides term life insurance in 10, 15, 20, and 30-year terms. These policies are available for employees between 18 and 75 years of age, depending on the length of the term.

The company’s term life options range in value from $100,000 to $1 million. Additionally, customers can add extra coverage to their plan. However, your employer must purchase these options for them to be available. In addition to standard term life insurance, Northwestern National’s coverage options include:

• Supplemental life insurance
• Accidental death and dismemberment insurance
• Spouse and child life insurance
• Employee Assistance Program (EAP)
• Funeral planning
• Travel assistance

The company’s term life plans are convertible, so employees can convert a term life policy into a permanent life plan to extend coverage.

Northwestern National also provides whole life insurance that builds a cash value over time. Customers can borrow against the cash value if they need money for emergencies. Additionally, whole life plans feature a fixed rate, ensuring that your payments won’t increase.

Does the Northwestern National Life Insurance Company offer riders?

In addition to standard coverage, most life insurance companies offer options that customers can add to a policy. These options are called riders and enable policyholders to add supplemental coverages to a policy.

While Northwestern National doesn’t provide many policy options, the company offers multiple riders. All riders provided by the company are available for the term life and whole life plans. Riders available through Northwestern National include:

• Accelerated death benefit
• Accidental death benefit
• Waiver of a premium
• Children’s term insurance
• Living benefit
• Additional insured

Since these riders are available for all policies, your employer doesn’t need to buy them. However, adding riders to your policy will increase your monthly rates.

How is the Northwestern National Life Insurance Company rated?

Credit rating agencies review insurance companies and rate them based on their financial strength. Customers can use these ratings to determine if a company is likely to provide a payout when filing claims.

As previously mentioned, Northwestern National provides coverage as Reliastar. Therefore, the popular credit rating agencies have reviewed Reliastar instead of Northwestern National.

Reliastar has been rated an A by A.M. Best, S&P, and Fitch. The company has also been rated an A2 by Moody’s. These ratings are excellent and indicate that customers can expect a payout whenever they file a claim.

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Does the Northwestern National Life Insurance Company have any complaints?

The Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) review complaints about insurance companies. These reviews allow customers to determine the quality of service provided by a company.

Similar to the financial ratings, these organizations have reviewed Northwestern insurance as Reliastar. At the time of this review, the BBB has received 24 complaints about Reliastar during the past three years. Most of these complaints are about the company’s services.

The NAIC shows that Reliastar has received 13 complaints. The company’s complaint index ratio is 0.21, indicating far fewer complaints than the average company of a similar size.

What are the pros and cons of the Northwestern National Life Insurance Company?

All insurance companies have positives and negatives that can help customers decide if they are suitable. For example, Northwestern National, Reliastar, and Voya Financial have pros and cons that you should consider before buying life insurance.

Some of the positives of the Northwestern National Life Insurance Company include:

• Nationwide coverage
• A low number of complaints
• Good financial strength

The company is available in all 50 states, and its financial strength shows that you can expect a payout when you file a claim. Additionally, the low number of complaints indicates that current and former customers are satisfied with the customer service.

While the company has several positives, there are also some negatives. Cons of Northwestern National include:

• No individual policies
• Limited policy information online
• Few policy options

The company only offers group life insurance, so customization is limited. Additionally, the lack of policy options limits the coverage you can receive. Voya Financial also doesn’t provide much information online about its coverage limits.

Who is the Northwestern National Life Insurance Company?

The Northwestern National Life Insurance Company began in 1885 in Minneapolis, Minnesota, offering life insurance, annuities, mutual funds, group insurance, and reinsurance. Over time, it would grow to become one of the largest financial services companies in the United States.

Northwestern National bought the North Atlantic Life Insurance Company of Jericho, NY, in 1967 and the Northern Life Insurance Company of Seattle in 1977, expanding its coverage. The acquisitions resulted in the company rebranding as Reliastar in 1995.

Voya Financial bought Reliastar in 2000, making it a subsidiary of the larger company. Voya Financial took over all aspects of the company following the acquisition, including handling claims and dealing with customers.

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Navigating Northwestern National Life Insurance Company Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

Customers of Northwestern National Life Insurance Company can conveniently file claims through various channels. Whether you prefer an online, phone, or mobile app approach, the company strives to accommodate your needs.

Filing a claim online can be done through the Voya Financial website, which provides an intuitive interface to start, continue, or add documents to your claim. The online portal also allows you to check the status of your claim, ensuring transparency throughout the process.

For those who prefer speaking with a representative, Northwestern National offers a phone option at 800-955-7736, with customer service available on weekdays from 8 a.m. to 9 p.m. (EST).

Average Claim Processing Time

The average claim processing time at Northwestern National Life Insurance Company can vary depending on the specific case and complexity of the claim. Like most insurance providers, claim processing times may be influenced by factors such as the completeness of documentation and the nature of the claim.

For precise details on the expected processing time for your claim, it is advisable to contact Northwestern National’s customer service team.

Customer Feedback on Claim Resolutions and Payouts

The company’s track record suggests that Northwestern National is committed to providing satisfactory claim resolutions and payouts to its customers. The financial strength of the company, as indicated by its A ratings from prominent credit rating agencies, is a positive sign that customers can rely on the company to fulfill its obligations when filing claims.

Furthermore, the relatively low number of complaints recorded by organizations like the Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) indicates a level of customer satisfaction with the claim resolution process.

Unveiling Northwestern National Life Insurance Company Digital and Technological Advancements

Mobile App Features and Functionality

Northwestern National Life Insurance Company offers a mobile app that provides convenient access to policy information and account management tools. The app is designed to enhance the customer experience by allowing users to view their policies, make payments, and access important documents from the convenience of their mobile devices.

It offers a user-friendly interface for easy navigation and efficient management of insurance-related tasks.

Online Account Management Capabilities

Customers of Northwestern National can take advantage of robust online account management capabilities. Through the company’s website and online portal, policyholders can access their accounts 24/7 to review policy details, make updates, and track their coverage.

This online platform empowers customers with the flexibility to manage their insurance policies according to their needs and preferences.

Digital Tools and Resources

In addition to the mobile app and online account management features, Northwestern National provides various digital tools and resources to assist customers in understanding and managing their life insurance policies.

These resources may include educational materials, calculators to estimate coverage needs, and FAQs to address common inquiries. These digital tools aim to empower customers with the knowledge and tools necessary to make informed decisions about their insurance coverage.

Northwestern National Life Insurance Company: The Bottom Line

Northwestern National has provided life insurance since 1885 but now operates under Reliastar. Northwestern National is now a subsidiary of Voya Financial and only sells group term life and whole life insurance to businesses.

Learning more about the Northwestern National Life Insurance Company will help you decide if the company is the right option for you.

Now that you know about the Northwestern National Life Insurance Company, enter your ZIP code to get free life insurance quotes in your area.

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