Charge |
When Charge is Deducted |
Maximum Guaranteed Charge |
Current Charge |
Charge for Cost of
Insurance— Maximum
and Minimum2
Charge for Cost of Insurance
Representative2 |
At Policy Date and
annually on the Policy Anniversary |
Same as current amount |
Maximum: $1,000 per $1,000 of net amount at
risk (at age 99)3
Minimum: $0.69 per $1,000 of net amount at risk
(for a female Insured age 10)3
Representative: $7.09 per $1,000 of net amount at
risk (for a male Insured age 54 in the Premier
Non-Tobacco or Preferred Non-Tobacco
underwriting classification)3 |
|
FEES AND EXPENSES |
Cross-Reference(s)
to Location in
Prospectus | ||
Charges for Early
Withdrawals |
If you surrender your Policy (or change to paid-up insurance or upon a partial
surrender) in the first fifteen Policy Years you will be assessed surrender charges
of up to 40% of scheduled premium paid toward your death
benefit. For example, if you surrender your Policy and the total amount of scheduled
premium you paid toward your death benefit was $100,000, you could pay a
surrender charge of up to $40,000.
Withdrawals of Excess Amount are subject to a $25 administrative charge
(currently waived) for each withdrawal
request. |
Fee and Expense
Tables – Transaction
Fees (Administrative
Surrender Charge,
Premium Surrender
Charge and
Administrative
Charge for
Withdrawals)
Also see Other
Benefits Available
Under the Policy –
Paid-Up Insurance
and Policy Loans,
Automatic Premium
Loans, and
Withdrawals
–Withdrawals | ||
Transaction
Charges |
In addition to surrender charges and withdrawal charges, you may also be
charged for other transactions, such as certain tax-related charges, a
front-end sales load, charges for transferring between
investment options, as well as charges for expedited
delivery or wire transfers. |
Fee and Expense Tables – Transaction Fees | ||
Ongoing Fees and
Expenses
(annual charges) |
In addition to the charges above, investment in the Policy is subject to ongoing
fees and expenses, including fees covering the cost of insurance and
optional benefits available under the Policy. These fees are based on information as of
December 31, 2020, may change from year to year, and are generally based
on characteristics of the insured (e.g., age, sex and
rating classification). You should review your Policy specifications page for specific rates applicable under your
Policy. You bear the expenses associated with the Portfolios available under your Policy, the range for which is shown in the following table: |
Fee and Expense
Tables – Periodic
Charges (Other than
Portfolio Operating
Expenses) Fee and Expense Tables – Annual Portfolio Operating Expenses | ||
Annual Fee |
Minimum* |
Maximum* | ||
Investment Options
(Portfolio company
fees and expenses) |
0.21% |
1.41% | ||
* As a percentage of Portfolio assets. | ||||
|
RISKS |
| ||
Risk of Loss |
You can lose money by investing in the Policy, including loss of principal. |
Risks of the Policy –Investment Risk and The Funds | ||
Not a Short-Term
Investment |
The Policy is not a short-term investment and is not appropriate for you
if you need ready access to cash. Surrender charges apply
in the first 15 Policy Years
and the value of your Policy and death benefit will be reduced if you withdraw
money. In addition, short-term investment in the Policy may subject you to
income taxes and tax penalties. |
Risks of the Policy –
Policy for Long-
Term Protection | ||
Risks Associated
with Investment
Options |
Investment in the Policy is subject to the risk of poor investment performance and can vary depending on the performance of the investment options
(Portfolios) available under the Policy. Each Portfolio will have its own unique
risks and you should review these investment options before making an
investment decision. |
Risks of the Policy – Investment Risk |
|
RISKS |
Cross-Reference(s)
to Location in
Prospectus | ||
Insurance
Company Risks |
Investment in the Policy is subject to the risks related to Northwestern Mutual,
and any obligations, guarantees, or benefits are subject to
the claims-paying ability of Northwestern Mutual. More
information about Northwestern Mutual, including its
financial strength ratings, is available upon request by calling toll free (866) 424-2609. |
Risks of the Policy
–Investment Risk
Also see The
Company section | ||
Policy Lapse |
Insufficient premium payments, poor investment results, withdrawals, unpaid loans, or loan interest may cause your Policy to lapse, meaning you will no longer have any life insurance coverage and death benefits will not be paid.
After lapse, you may reinstate the Policy subject to certain conditions described
in the Prospectus, including the payment of any premium required to keep
the Policy in force. |
Risks of the Policy – Policy Lapse Information About the Policy – Reinstatement | ||
|
RESTRICTIONS |
| ||
Investments |
Transfers from the Divisions must be in amounts greater than or equal to 1% of assets in the Divisions, may be subject to charges, and are subject to the
Policy’s
short-term and excessive trading policies. These short-term and excessive
trading policies may trigger additional restrictions on
your Policy. Currently,
there is no charge when you transfer Invested Assets among Divisions . However, we reserve the right to charge $25 for each transfer. You may invest in
up to 10 Divisions at a time.
Under certain circumstances Northwestern Mutual reserves the right to
remove a Portfolio or substitute another Portfolio or mutual fund for such Portfolio. |
Information about the Policy – Other Policy Transactions (Transfers Between Divisions and Short- Term and Excessive Trading)
Information about
the Policy – Other
Policy Transactions
(Substitution of
Portfolio Shares and
Other Changes) | ||
Optional Benefits |
Optional benefits are subject to additional charges and payments made
under these benefits are generally subject to the same
transaction fees as other premium payments but may be
treated differently for other purposes (e.g., certain death
benefit minimums). Optional benefits are not available for all ages (or may terminate at certain ages) and underwriting classifications. Because we
no longer issue the Policy, certain optional benefits may only be available upon
mutual agreement. We may stop offering an optional benefit
at any time. |
Information About
the Policy – Other
Benefits Available
Under the Policy | ||
|
TAXES |
| ||
Tax Implications |
You should consult with a tax professional to determine the tax
implications of an investment in, and payments received
under, the Policy. There is no additional
tax benefit if the Policy is purchased through a tax-qualified plan or individual
retirement account (IRA). Withdrawals will generally be
subject to ordinary income tax, and may be subject to tax
penalties. |
Tax Considerations | ||
|
CONFLICTS OF INTEREST |
| ||
Investment
Professional
Compensation |
We no longer issue the Policy to new owners. The Policy was sold exclusively
through financial representatives of Northwestern Mutual’s
affiliated broker- dealer, who are compensated with a
commission based on a percentage of premium, and
Northwestern Mutual may share revenue it earns on the Policy with its affiliated broker-dealer. These financial representatives may have, or
had, a financial incentive, to offer or recommend the Policy, or another policy
issued by Northwestern Mutual, over other investments.
|
Distribution of the
Policy Also see Deductions and Charges – Commissions Paid to Financial Representatives | ||
Exchanges |
We no longer issue the Policy to new owners. Some financial representatives may have a financial incentive to offer a policy issued by Northwestern Mutual
in place of one you already own. You should only exchange an existing
policy if you determine, after comparing the features, fees
and risks of both policies, that it is preferable to
purchase a policy issued by Northwestern Mutual (or any other
policy) rather than continue to own the existing policy.
|
None |
Investment
Objective |
Portfolio and Adviser/ Sub-adviser (if applicable) |
Current
Expenses |
Average Annual Total Returns (as of 12/31/2020) | |||
1 Year |
5 Year |
10 Year | ||||
Long-term growth of
capital; current income is
a secondary objective |
Growth Stock Portfolio2 |
Mason Street Advisors, LLC (MSA)/T. Rowe Price Associates, Inc. |
0.42%1 |
34.97% |
17.68% |
14.73% |
Long-term growth of
capital |
Focused Appreciation Portfolio2 |
MSA/Loomis, Sayles &
Company, L.P. |
0.62%1 |
32.55% |
19.30% |
15.90% |
Long-term growth of
capital and income |
Large Cap Core Stock Portfolio2 |
MSA/ Wellington Management Company LLP |
0.44%1 |
22.74% |
15.24% |
11.73% |
Long-term growth of
capital and income |
Large Cap Blend Portfolio2 |
MSA/
Fiduciary Management, Inc. |
0.81%1 |
10.05% |
12.18% |
11.14% |
Investment results that
approximate the
performance of the
Standard & Poor’s 500®
Composite Stock Price
Index |
Index 500 Stock Portfolio2 |
MSA/Black Rock Advisors, LLC |
0.20%1 |
18.18% |
14.97% |
13.64% |
Long-term growth of
capital; income is a
secondary objective |
Large Company Value Portfolio2 |
MSA/American Century
Investment Management, Inc. |
0.77%1 |
2.64% |
9.11% |
10.06% |
Long-term growth of
capital and income |
Domestic Equity Portfolio2 |
MSA/Delaware Investments Fund Advisers, a series of Macquarie Investment Management Business Trust |
0.52%1 |
0.73% |
9.11% |
10.53% |
Long-term growth of
capital and income |
Equity Income Portfolio2 |
MSA/
T. Rowe Price Associates, Inc |
0.58%1 |
1.20% |
9.98% |
9.30% |
Long-term growth of
capital |
Mid Cap Growth Stock Portfolio2 |
MSA/ Wellington Management Company LLP |
0.54% |
25.41% |
13.38% |
10.44% |
Investment results that
approximate the
performance of the
Standard & Poor’s
MidCap 400® Stock Price
Index |
Index 400 Stock Portfolio2 |
MSA/Northern trust
Investments, Inc. |
0.26%1 |
13.37% |
12.05% |
11.23% |
Long-term growth of
capital; current incomes is
a secondary objective |
Mid Cap Value Portfolio2 |
MSA/American Century Investment Management, Inc. |
0.76%1 |
1.67% |
9.54% |
10.61% |
Long-term growth of
capital |
Small Cap Growth Stock Portfolio2 |
MSA/
Wellington Management
Company LLP |
0.56% |
33.47% |
16.90% |
13.38% |
Investment results that
approximate the
performance of the
Standard & Poor’s
SmallCap 600® Index |
Index 600 Stock Portfolio2 |
MSA/Northern Trust Investments, Inc. |
0.31% |
10.93% |
12.03% |
11.55% |
Long-term growth of
capital |
Small Cap Value Portfolio2 |
MSA/
T. Rowe Price Associates, Inc |
0.95% |
9.29% |
12.16% |
9.78% |
Investment
Objective |
Portfolio and Adviser/
Sub-adviser (if applicable) |
Current
Expenses |
Average Annual Total Returns (as of 12/31/2020) | |||
1 Year |
5 Year |
10 Year | ||||
Long-term growth of
capital |
International Growth Portfolio2 |
MSA/FIAM LLC |
0.63% |
17.91% |
12.11% |
7.39% |
Capital appreciation |
Research International Core Portfolio2 |
MSA/ Massachusetts
Financial Services Company |
0.76%1 |
13.46% |
9.76% |
6.21% |
Long-term growth of
capital; any income
realized will be incidental |
International Equity Portfolio2 |
MSA/Templeton Investment Counsel, LLC |
0.54%1 |
-2.71% |
3.12% |
3.26% |
Capital appreciation |
Emerging Markets Equity Portfolio2 |
MSA/ Aberdeen Asset
Managers Limited |
0.93%1 |
26.86% |
12.97% |
3.33% |
Maximum current income
to the extent consistent
with liquidity and stability
of capital3 |
Government Money Market Portfolio |
MSA/BlackRock Advisors, LLC |
0.33% |
0.31% |
0.90% |
0.50% |
Provide as high a level of
current income as is
consistent with prudent
investment risk |
Short-Term Bond Portfolio2 |
MSA/
T. Rowe Price Associates, Inc |
0.39% |
4.29% |
2.60% |
1.72% |
Provide as high a level of
total return consistent
with prudent investment
risk; a secondary
objective is to seek
preservation of
shareholders’ capital |
Select Bond Portfolio2 |
MSA/Wells Capital Management, Inc. |
0.31%1 |
8.98% |
4.75% |
3.95% |
Maximum total return,
consistent with
preservation of capital and
prudent investment
management |
Long-Term U.S. Government Bond Portfolio2 |
MSA/Pacific Investment
Management Company LLC |
0.94% |
17.37% |
7.33% |
7.25% |
Pursue total return using a
strategy that seeks to
protect against U.S.
inflation |
Inflation Protection Portfolio2 |
MSA/American Century Investment Management, Inc. |
0.56%1 |
9.57% |
4.75% |
3.43% |
High current income and
capital appreciation |
High Yield Bond Portfolio2 |
MSA/Federated Investment
Management Company |
0.45% |
6.64% |
7.88% |
6.28% |
Maximum total return,
consistent with prudent
investment management |
Multi-Sector Bond Portfolio2 |
MSA/Pacific Investment Management Company LLC |
0.73%1 |
6.13% |
7.54% |
5.60% |
Realize as high a level of
total return as is
consistent with prudent
investment risk, through
income and capital
appreciation |
Balanced Portfolio2 |
MSA |
0.50%1 |
12.49% |
8.86% |
7.30% |
Realize as high a level of
total return as is
consistent with reasonable
investment risk |
Asset Allocation Portfolio2 |
MSA |
0.59%1 |
13.43% |
10.10% |
8.17% |
Long-term growth of
capital |
Fidelity® VIP
Mid Cap Portfolio – Initial Class4 |
Fidelity Management &
Research Company LLC
(FMR)5 |
0.62% |
18.19% |
11.07% |
9.50% |
Long-term capital
appreciation |
Fidelity® VIP
Contrafund®
Portfolio –
Initial Class4 |
FMR5 |
0.61% |
30.57% |
16.19% |
13.52% |
Investment
Objective |
Portfolio and Adviser/
Sub-adviser (if applicable) |
Current
Expenses |
Average Annual Total Returns (as of 12/31/2020) | |||
1 Year |
5 Year |
10 Year | ||||
Long-term growth of
capital by investing
primarily in securities of
companies that meet the
Portfolios’s environmental, social and governance criteria |
Sustainable Equity Portfolio6 |
Neuberger Berman Investment Advisers LLC |
0.92% |
19.56% |
13.05% |
11.62% |
Long-term growth of
capital |
U.S. Strategic Equity Fund7
|
Russell Investment
Management LLC (RIM)8 |
0.84% |
23.84% |
14.27% |
12.79% |
Long-term growth of
capital |
U.S. Small Cap Equity Fund7
|
RIM8 |
1.25% |
12.70% |
10.84% |
9.37% |
Current income and long-
term growth of capital |
Global Real Estate Securities Fund7 |
RIM8 |
0.91% |
-5.18% |
4.61% |
5.88% |
Long-term growth of
capital |
International Developed Markets Fund7 |
RIM8 |
1.06% |
5.08% |
6.50% |
5.10% |
Provide total return |
Strategic Bond Fund7 |
RIM8 |
0.69% |
8.43% |
4.69% |
4.00% |
Current income and
moderate long-term
capital appreciation |
LifePoints® Variable
Target Portfolio Series
Moderate Strategy
Fund7 |
RIM8 |
0.86%1 |
6.40% |
6.15% |
5.13% |
Above-average long-term
capital appreciation and a
moderate level of current
income |
LifePoints® Variable
Target Portfolio Series
Balanced Strategy Fund7 |
RIM8 |
0.95%1 |
7.65% |
7.37% |
6.10% |
High long-term capital
appreciation; and as a
secondary objective,
current income |
LifePoints® Variable
Target Portfolio Series
Growth Strategy Fund7 |
RIM8 |
1.01%1 |
9.75% |
8.62% |
6.76% |
High long-term capital
appreciation |
LifePoints® Variable
Target Portfolio Series
Equity Growth Strategy
Fund7 |
RIM8 |
1.04%1 |
8.26% |
8.93% |
7.09% |
Total return |
Commodity Return Strategy Portfolio – Class
29 |
Credit Suisse Asset Management, LLC |
0.80%1 |
28.52%10 |
N/A |
N/A |
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