Students Duped into Selling 'Terrible' Insurance

Northwestern Mutual is under scrutiny for its recruitment practices, with former interns alleging they were misled into selling complex and often unsuitable whole life insurance policies. The company, presented as a pathway to a lucrative financial advising career, allegedly uses student recruits to harvest contact lists, leading to high turnover rates. Many interns reportedly drop out within weeks, disillusioned by the focus on aggressive sales tactics rather than genuine financial planning.

The firm's business model, which heavily relies on whole life insurance, is criticized for being expensive for clients and profitable for the insurer due to high cancellation rates. Recruiters are accused of "gaslighting" young professionals, pushing them to sell policies to friends and family, even to their own detriment. The title of "financial adviser" is reportedly used loosely, with many representatives lacking the necessary licenses for true investment advice.

Despite legal and ethical questions surrounding its practices, the company continues to recruit aggressively, dangling promises of high earnings. However, numerous former employees report earning minimal wages, accumulating debt, and damaging personal relationships. The situation highlights a systemic issue where the pursuit of sales targets overshadows client well-being and employee success.