Northwestern National Life Insurance Company Review (2022)
Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina.
He has also earned an MFA in screenwriting from Chapman Univer…
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Written by
Jeffrey Johnson
Insurance Lawyer
Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.
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Reviewed by
Benji Carr
Former Licensed Life Insurance Agent
UPDATED: Feb 11, 2022
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The Facts of Life
Northwestern National sells coverage as Reliastar
Northwestern National only offers group term life and whole life coverage
Northwestern National has been rated an A by A.M. Best
Northwestern National sells life insurance for business owners as Reliastar. 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.
Before starting this Northwestern National Life Insurance Company review, enter your ZIP code to find free life insurance rates in your area.
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 factors, and companies value them differently. Some of the common aspects used to determine rates include:
Age
Gender
Health
Location
Since companies use many 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
CompanyAverage 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 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.
How can you file Northwestern National Life Insurance Company claims?
Through Reliastar and its parent company, Voya Financial, Northwestern National customers can file claims online or by phone. Customers are directed to Voya Financial as the umbrella company handles all claims in both cases.
The Voya Financial website features links where customers can start a claim, continue a previously created claim, and add documents or forms. Additionally, the website has a portal that allows customers to check their claim status.
How to Contact the Northwestern National Life Insurance Company
Since the company only sells group coverage, individuals can’t buy Northwestern National Life Insurance. However, employees can contact the company by phone or online to ask questions, make policy changes, or cancel a plan.
Like filing claims, Voya Financial handles all customer concerns. You can reach the company by calling 800-955-7736. Representatives are available Monday through Friday from 8 a.m. to 9 p.m. (EST).
Additionally, you can reach the company by email. The Voya Financial website has an online form that emails the company with your message. A representative will respond via email to the address listed on the form.
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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.
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.
