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 Cheapest Life Insurance USA

Northwestern Mutual - Life Insurance

What Makes Northwestern Mutual Tick?

Northwestern Mutual is widely recognized as the premier life insurance company, building financial security for individuals and businesses. As a mutual company, Northwestern Mutual are operated for the benefit of their policyowners and customers. Integrity, financial strength, and building enduring relationships by meeting your needs is what "The Quiet Company" is all about.

Here you'll get a glimpse of what makes Northwestern Mutual company unique—their top financial ratings lead the industry, Northwestern Mutual rate first in customer satisfaction and their field force shares the top spot as America's best sales force. You'll also meet Northwestern Mutual top executives and discover ways in which Northwestern Mutual supports the people and communities they serve.

Northwestern Mutual - Types of Policies

A variety of Northwestern Mutual life insurance policies are available that can be used in estate planning. Policies can be purchase to insure a single life or two lives. Some policies may better suit you than others, depending upon your needs and life circumstances.

Policies for Individuals
A single individual has no other policy choices than a single life policy. The policy's benefit will help pay the taxes due on his or her estate.

Policies for Married Couples
Multiple options exist for married couples wishing to purchase a life insurance policy. The premium of a second-to-die policy may be less than the premium on two single life policies. However, couples with any concern for retirement or survivor income will purchase a single life contract inside an irrevocable life insurance trust rather than a second-to-die policy.

If there is no concern for survivor or retirement income, a second-to-die policy may be appropriate.

Policies for Non-Citizen Spouses
A qualified domestic trust can be set up for individuals married to citizens of other countries. The trust will hold property for the couple so that it qualifies for the marital deduction. Estate planning with a QDOT can be arranged to include a second-to-die policy that will help pay taxes upon the second death. Or, a spouse can choose an outright distribution of property upon the first death and purchase a single life policy to provide liquidity needed to pay for tax.

Policies for Second Marriages
Estate tax can be generated at the first death rather than the second when the individual is married for the second or third time. Spouses may enter into a prenuptial agreement to keep their assets separate and not part of the property of the marriage.

This type of an estate plan generally operates as if each person were single. If the estate's value exceeds the exemption equivalent of the unified credit, an estate tax is generated on the first death. A single life policy may be purchased to pay the tax.

Policies for Marriages with Age Variance

For estate planning purposes, spouses may be treated as single if there is a large age difference between them. It is common, in this situation, to design the estate plan so that some or all of the assets pass to the children upon the parent's death. A single life policy may be purchased to pay the tax generated by this transfer.

Policies for Deferring Estate Taxes
Most wealthy married couples choose to defer the estate tax until the second spouse's death by transferring the optimal amount of property allowed by the marital deduction. Upon the surviving spouse's death, if the estate is valued below the amount of the exemption equivalent, no tax is due. If the estate's value exceeds the exemption, a tax must be paid and a second-to-die policy could be purchased for this.

Policies for Non-Deferred Estate Taxes
Some married couples choose not to defer the estate tax until the second death. Instead they generate tax at the first death to capitalize on the graduated rates of the estate tax.

This type of plan is often used in community property states where the law automatically equalizes each spouse's estate.

The actual benefit of this plan depends on how long the second spouse survives and what happens to the value of the estate between the first and second deaths.

With this type of plan, a single life policy is purchased on each individual because it is impossible to determine which spouse will die first. And waiting until later in life could cause the premiums of the policies to increase.



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