How Magnetic is the Neutrino?

The existence of a neutrino magnetic moment implies contributions to the neutrino mass via radiative corrections. We derive model-independent "naturalness" upper bounds on the magnetic moments of Dirac and Majorana neutrinos, generated by physics above the electroweak scale. For Dirac neutrinos, the bound is several orders of magnitude more stringent than present experimental limits. However, for Majorana neutrinos the magnetic moment bounds are weaker than present experimental limits if $\mu_\nu$ is generated by new physics at ~ 1 TeV, and surpass current experimental sensitivity only for new physics scales > 10 -- 100 TeV. The discovery of a neutrino magnetic moment near present limits would thus signify that neutrinos are Majorana particles.