497 1 d627300d497.htm NML VARIABLE LIFE ACCOUNT (VEL) NML Variable Life Account (VEL)

THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY

 

 

NORTHWESTERN MUTUAL VARIABLE LIFE ACCOUNT

SUPPLEMENT TO THE PROSPECTUSES

VARIABLE LIFE (DATED MAY 1, 2013)

VARIABLE COMPLIFE® (DATED MAY 1, 2013)

VARIABLE JOINT LIFE (DATED MAY 1, 2013)

VARIABLE EXECUTIVE LIFE (DATED MAY 1, 2013)

 

 

NORTHWESTERN MUTUAL VARIABLE LIFE ACCOUNT II

SUPPLEMENT TO THE PROSPECTUSES

CUSTOM VARIABLE UNIVERSAL LIFE (DATED MAY 1, 2013)

EXECUTIVE VARIABLE UNIVERSAL LIFE (DATED MAY 1, 2013)

SURVIVORSHIP VARIABLE UNIVERSAL LIFE (DATED MAY 1, 2013)

 

 

SUPPLEMENT TO THE PROSPECTUS & NOTICE OF SUBSTITUTION

The proposed substitution of shares that we previously notified you about has been completed. The Division investing in shares of the Replacement Commodity Fund has taken the place of the Division investing in shares of the Replaced Commodities Fund as shown below.

 

Replaced Commodities Fund   Replacement Commodity Fund
Commodities Return Strategy Portfolio   Commodity Return Strategy Portfolio
(series of Northwestern Mutual Series Fund, Inc.)   (series of Credit Suisse Trust)
Replaced Commodities Fund Manager(s)   Replacement Commodity Fund Manager
Mason Street Advisors, LLC (investment adviser)   Credit Suisse Asset Management, LLC (adviser)
Credit Suisse Asset Management, LLC (sub-adviser)  

Your previous selection of the Replaced Commodities Fund for allocating your Account Value and Premium Payments has been redirected to the Replacement Commodity Fund, including any allocations made as part of dollar-cost averaging, portfolio rebalancing or any asset allocation program, as well as other automatic transfers or scheduled or systematic transactions, if available. In addition, the first transfer you make from the Replacement Commodity Fund within the next 30 calendar days will not be treated as one of a limited number of transfers permitted under your Policy under our short-term and excessive trading procedures and any transfer fee that might otherwise be imposed will be waived on such transfer.

If you have any questions concerning the Substitution, please contact your Registered Representative or the Variable Life Customer Services Center, toll-free at 1-866-424-2609.

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

This Supplement is dated November 18, 2013.