History
Northwestern Mutual was founded as the Mutual Life Insurance Company of the State of Wisconsin on March 2, 1857. Originally located in Janesville, Wisconsin, the fledgling company relocated to Milwaukee in 1859. Shortly after, the company experienced its first two death claims, when an excursion train traveling from Janesville to Fond du Lac, Wisconsin derailed, killing 14 people, two of whom were policy owners. With losses amounting to $3,500 and having funds of only $2,000, company President Samuel Daggett and Treasurer Charles Nash personally borrowed the needed funds to pay the claims immediately. Following the accident, the company saw a rapid increase in its sales, and an expansion into new markets. By 1865, it was operating throughout the Midwest and had entered the market along the Eastern Seaboard. To reflect this increased presence, the board of trustees changed the company's name to The Northwestern Mutual Life Insurance Company. In 1864, the company paid its first dividend
Specialties
Risk management and insurance. Financial planning and investing. Income protection. Retirement planning. Business planning. Employee and executive benefits. Fee-based financial planning. Investment advisory. Estate planning. Trust services. Private client services. Personalized financial planning. Term, universal, whole life insurance policies specialized.