Northwestern Mutual vs Thrivent Financial

Comprehensive side-by-side comparison of indexed universal life insurance companies

Updated 2025
Independent Analysis
Professional Ratings

Northwestern Mutual

Founded: 1857

Milwaukee, Wisconsin

Financial Strength Ratings

AM Best A++
S&P AA+
Moody's Aa1
Assets
$655 billion+
IUL Experience
0+ years
Products
0
Avg Cap Rate
N/A

Key Strengths

Highest financial ratings
Does NOT offer IUL products
Focuses on whole life and VUL
Visit Northwestern Mutual Website →

Thrivent Financial

Founded: 1902

Minneapolis, Minnesota

Financial Strength Ratings

AM Best A++
S&P AA+
Moody's Aa1
Assets
$194 billion AUM
IUL Experience
0+ years
Products
0
Avg Cap Rate
N/A

Key Strengths

Does not prominently offer IUL
Focuses on term/whole life; fraternal benefit society
Visit Thrivent Financial Website →

Detailed Feature Comparison

Feature Northwestern Mutual Thrivent Financial
Founded 1857 1902
Headquarters Milwaukee, Wisconsin Minneapolis, Minnesota
Assets Under Management $655 billion+ $194 billion AUM
Years in IUL Business 0+ years 0+ years
Number of IUL Products 0 0
Typical Cap Rate Range N/A - N/A N/A - N/A
Participation Rates N/A N/A
Minimum Premium N/A N/A
Issue Ages N/A N/A
Underwriting Speed N/A N/A

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Similar Companies

Northwestern Mutual

AM Best: A++

$655 billion+ AUM

Compare →

MassMutual

AM Best: A++

$950 billion+ life protection in force AUM

Compare →

Guardian Life

AM Best: A++

$1.6 billion dividend allocation 2025 AUM

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State Farm

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