0001193125-20-055436.txt : 20200228 0001193125-20-055436.hdr.sgml : 20200228 20200228125520 ACCESSION NUMBER: 0001193125-20-055436 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200228 DATE AS OF CHANGE: 20200228 EFFECTIVENESS DATE: 20200228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORTHWESTERN MUTUAL VARIABLE LIFE ACCOUNT CENTRAL INDEX KEY: 0000742277 IRS NUMBER: 390509570 STATE OF INCORPORATION: WI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-59103 FILM NUMBER: 20667915 BUSINESS ADDRESS: STREET 1: 720 E WISCONSIN AVE CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 4146652508 MAIL ADDRESS: STREET 1: 720 EAST WISCONSIN AVENUE CITY: MILWAUKEE STATE: WI ZIP: 53202 0000742277 S000000058 NORTHWESTERN MUTUAL VARIABLE LIFE ACCOUNT C000031363 Variable Joint Life 497 1 d894110d497.htm NML VARIABLE LIFE ACCOUNT (VJL) NML Variable Life Account (VJL)

THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY

                                                                                                                   

NORTHWESTERN MUTUAL VARIABLE LIFE ACCOUNT

SUPPLEMENT TO THE PROSPECTUSES

VARIABLE LIFE (DATED MAY 1, 2019)

VARIABLE COMPLIFE® (DATED MAY 1, 2019)

VARIABLE JOINT LIFE (DATED MAY 1, 2019)

VARIABLE EXECUTIVE LIFE (DATED MAY 1, 2019)

                                                                                                                   

NORTHWESTERN MUTUAL VARIABLE LIFE ACCOUNT II

SUPPLEMENT TO THE PROSPECTUSES

VARIABLE UNIVERSAL LIFE PLUS (DATED NOVEMBER 11, 2019)

EXECUTIVE VARIABLE UNIVERSAL LIFE – II (DATED NOVEMBER 11, 2019)

VARIABLE UNIVERSAL LIFE PLUS – NY (DATED JANUARY 1, 2020)

CUSTOM VARIABLE UNIVERSAL LIFE (DATED MAY 1, 2019)

EXECUTIVE VARIABLE UNIVERSAL LIFE (DATED MAY 1, 2019)

SURVIVORSHIP VARIABLE UNIVERSAL LIFE (DATED MAY 1, 2019)

                                                                                                                   

This Supplement and Notice describes changes to the investment options available under your variable life insurance policy (the “Policy”) issued by the Northwestern Mutual Life Insurance Company (the “Company”).

Unless notice is provided to the contrary, the Company anticipates that on or around May 1, 2020 it will automatically transfer any amounts you have in Divisions investing in the following portfolios from the portfolio’s current Rule 12b-1 share class (current class) to a share class of the same portfolio that does not have a Rule 12b-1 fee (new class):

 

Fund Family     Portfolio     Current Class     New Class

Fidelity® Variable Insurance Products  

     Fidelity® VIP Mid Cap Portfolio     Service Class 2 Shares       Initial Class Shares  

Fidelity® Variable Insurance Products

     Fidelity® VIP Contrafund® Portfolio     Service Class 2 Shares     Initial Class Shares

Credit Suisse Trust

     Commodity Return Strategy Portfolio       Class 1 Shares     Class 2 Shares

The portfolios will continue to be managed by the same investment advisor according to the same investment objectives and policies and for the same investment advisory and other fee structure as before the transaction. However, expenses related to investment in the new class of the portfolios will not reflect a 0.25% Rule 12b-1 fee. After the transaction the portfolios’ current class will no longer be available for investment under the Policy.

This change will not result in a change in your Policy Value nor will your rights or our obligations under the Policy be altered except that allocations as of the date of the transaction to the current Rule 12b-1 class will be replaced with allocations to the new, non-Rule 12b-1 class, including any systematic allocations currently in place such as dollar-cost average programs, rebalancing, asset allocation model or other scheduled transactions. You will not incur any fees or charges as a result of the transaction and we or our affiliates will bear all expenses incurred in connection with the transaction. You will receive a summary or statutory prospectus for the new class of shares with the May 1, 2020 prospectus for your Policy.

If you have any questions concerning the Substitution, please contact your Registered Representative or the Variable Life Service 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 February 28, 2020.