kflem20 wrote: ↑Fri Sep 04, 2020 7:10 am
Yes this was Northwestern Mutual
I am so glad that you posted on this Forum before you entered into a relationship with a Northwestern Mutual agent!
You're a relatively young, relatively high-income person - just the kind of person that Northwestern Mutual likes to form a relationship with
take advantage of. Your agent would like to form a life-long relationship with you where money could be extracted from you over your lifetime.
The first, entry-level product is the Term 80 product that you have been pitched. You're correct - you do not need life insurance at this stage of your life. You only need life insurance when someone will be financially hurt by your death. So, not only is the NWML guy trying to sell you life insurance you don't need, he's trying to sell you a crummy term life product, because NWML's term products are not competitively priced. (When you do need insurance, go to zander.com for quotes on level term life insurance from very competitive companies.)
Once the agent has you "hooked" on NWML, he'll try to upsell you. Maybe, a few years down the road, he'll say that you "need" to get a whole life policy, or convert your term policy to whole life. Or maybe he'll say that you "need" to put your mutual fund investments in NWML-sponsored mutual funds. Or maybe he'll try to sell you an annuity. Each of these product moves will be trying to extract more money from your pocket, and transfer it to your agent's pocket.
Once again, your spidey-sense was right. You don't need life insurance at this time in your life. And you sure as heck don't need to build a relationship with Northwestern Mutual.