497 1 d497.htm NML VARIABLE LIFE ACCOUNT NML Variable Life Account

THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY

 

 

NORTHWESTERN MUTUAL VARIABLE LIFE ACCOUNT

SUPPLEMENT TO THE PROSPECTUSES

VARIABLE LIFE (DATED APRIL 30, 2008)

VARIABLE COMPLIFE® (DATED APRIL 30, 2008)

VARIABLE JOINT LIFE (DATED APRIL 30, 2008)

VARIABLE EXECUTIVE LIFE (DATED APRIL 30, 2008)

 

 

NORTHWESTERN MUTUAL VARIABLE LIFE ACCOUNT II

SUPPLEMENT TO THE PROSPECTUSES

CUSTOM VARIABLE UNIVERSAL LIFE (DATED APRIL 30, 2008)

EXECUTIVE VARIABLE UNIVERSAL LIFE (DATED APRIL 30, 2008)

SURVIVORSHIP VARIABLE UNIVERSAL LIFE (DATED APRIL 30, 2008)

 

 

(Replaces supplement dated October 23, 2008)

This Supplement revises certain information with regard to the total annual operating expenses of the Money Market Portfolio contained in the Prospectuses referenced above dated April 30, 2008.

The following replaces the row with regard to the Money Market Portfolio in the table under “Annual Portfolio Operating Expenses”:

 

Portfolio    Investment
Advisory
Fees
  Other
Expenses
  12b-1
Fees
  Acquired
Fund Fees &
Expenses
  Total
Operating
Expenses
  Total Net Operating
Expenses (Including
Contractual Waivers,
Limitations and
Reimbursements)

Money Market Portfolio*

   0.00%   0.02%   0.00%   0.00%   0.02%   0.02%

The following footnote is added to the table under “Annual Portfolio Operating Expenses”:

*             Money Market Portfolio     In light of current economic and market conditions, MSA has elected to waive the 30 basis point fee it receives for managing the Portfolio’s assets on a temporary basis, effective December 31, 2008. This fee waiver, which is voluntary, will be reviewed periodically by MSA in light of market and economic developments and may be revised or discontinued at any time. “Other Expenses” reflects the fee paid by the Portfolio to participate in the U.S. Department of the Treasury’s Temporary Guarantee Program for Money Market Funds for the period from September 19, 2008 to December 18, 2008. Due to the temporary nature of the Program, this expense has not been annualized.

 

Please read this Supplement carefully and keep it with your Prospectus for future reference.

This Supplement is dated January 5, 2009.