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NML has a dividend rate of 8.8% -- that is not to be confused in no way shape or form with 8.8% INTEREST. Most NML agents don't even know the difference. Most whole life contracts pay the SAME interest ( after expenses ) of 5% to 6.5%. The guaranteed rate is typicall 4%, sometimes 5.5% as with certain MassMutual or Guardian contracts. The NML 8.8% figure is grossly distorted and manipulated by agents. Furhtermore NML has NOT reported ANY 20-year dividend histories to A.M. Best in 3 years -- cracks in the cheese foundation in Milwaukee perhaps?
As for NML and UL -- NML does write UL -- they just don't call it that. They have a product portfolio of heavily blended products ( adjustable comp life which comes in fixed and variable and survivorship types -- the blend can be as MUCH as 90% term with only 10% permanent -- pure insurance suicide for an unwitting policyholder ) These ACL policies are NML's version of UL -- looks like UL, smells like UL -- must be UL.
As a company it is obvious NML is in TROUBLE -- big trouble -- their transformation into a full-service financial services provider is rife with problems -- poor advertising that does nothing to position them as anything more than a life insurance company, poor recruiting, poor retention, an out of date contract and comp system which rewards lives written and insurance coverage put in force -- it does not reward service selection and retention of clients -- the NML contract is WEIGHTED heavily towards life insurance production period, poor investments ( mason street funds, frank russell company ), a consumer complaints website that continues to grow and grow everyday, loss of big agents, a restrictive broker/dealer subsidary that doesnt not offer a full product spectrum, a failed entry in to the long term care market place with an expensive and poorly designed product, major major losses in its disability income insurance business -- NML has sold a large portion of their book of DI business to Standard Insurance of Portland in a non-publicized deal last January, poor investment mangement ( terrible bond experience in the portfolio -- huge huge losses in private placements ) Look for Northwestern to merge with another company to stop the hemmoraging.