Insurance firm Northwestern Mutual, which today signed a deal to become the tenth official corporate partner of the NCAA, plans to embrace March Madness and other collegiate programs in a big way.

Northwestern Mutual said it would launch the partnership with what it called a “visible role” during the NCAA Division I Men’s Basketball Tournament, televised on TBS, CBS, truTV and TNT. Activation would be anchored by media rights to the presenting sponsorship of the telecast of the First Four on truTV, in-game telecast graphic enhancements during the Tournament and custom in-studio videos to air within Tournament game coverage.

In a broader strategy, the company said it would “reach consumers through a cross-platform of media channels, including TV, digital, and social media. The company also said it plans to “team up with athletics departments on multiple college campuses and host career recruitment events and coaches’ clinics.”

The NCAA deal was negotiated with CBS Sports and Turner Sports, NCAA media partners that also handle sales and marketing. Financial terms were not disclosed.

The NCAA has three official marketing corporate champions: AT&T, Capital One and Coca-Cola. Northwestern Mutual joins a roster of corporate partners that includes Buick, Enterprise, Infiniti, LG, Lowe’s, Planters, Reese’s, Unilever and UPS.

Under the terms of the agreement, Northwestern Mutual will gain “NCAA marketing and promotional rights” in the life insurance, wealth management and retirement planning services categories, as well as usage of the NCAA approved trademarks and logos for 89 championships across 23 sports.

According to Will Funk, svp-NCAA Partnerships and Branded Programming within Turner Sports Ad Sales,  “We’ve built a comprehensive customized activation plan across March Madness television, digital and mobile which will showcase and integrate Northwestern Mutual into the fabric of the Turner/CBS coverage. We’ve also created unique grass roots marketing opportunities for the Northwestern Mutual financial advisors to get involved at the local level across all 89 NCAA championships.”

Northwestern Mutual said the deal would help it to target “NCAA supporters, who are often the same demographic as many Northwestern Mutual clients and prospects . . . and to focus on the development of student-athletes.”

Northwestern Mutual said it has donated more than $11.5 million to higher education institutions through matching gifts.

The company said that media exposure from the NCAA partnership would also help it achieve a goal “to recruit thousands of new financial representatives and financial representative interns in 2012.”

“Northwestern Mutual is proud to enter into this partnership with the NCAA, CBS Sports and Turner Sports to support young men and women who combine the pursuit of excellence in athletics with a drive for higher education,” John Schlifske, chairman and CEO for Northwestern Mutual, said in a statement. “This partnership is a natural fit for Northwestern Mutual because we already invest in education.”