THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
SUPPLEMENT
TO SUMMARY PROSPECTUSES DATED MAY 1, 2021
NORTHWESTERN MUTUAL VARIABLE LIFE ACCOUNT
VARIABLE LIFE
VARIABLE
COMPLIFE®
VARIABLE JOINT LIFE
VARIABLE EXECUTIVE LIFE
NORTHWESTERN MUTUAL VARIABLE LIFE ACCOUNT II
VARIABLE UNIVERSAL LIFE
PLUS
EXECUTIVE VARIABLE UNIVERSAL LIFE—II
VARIABLE UNIVERSAL LIFE PLUS—NY
CUSTOM VARIABLE UNIVERSAL LIFE
EXECUTIVE VARIABLE UNIVERSAL LIFE
SURVIVORSHIP VARIABLE UNIVERSAL LIFE
This Supplement updates certain information in the most recent initial summary prospectuses and updating summary prospectuses, as applicable, for the above-referenced variable life policies and any supplements to the initial summary prospectuses and updating summary prospectuses (each a “Prospectus” and together the “Prospectuses”). You should read this Supplement in conjunction with your Prospectus and retain it for future reference. Unless otherwise indicated, all other information included in the Prospectuses remains unchanged. The terms and section headings we use in this Supplement have the same meaning as in the applicable
Prospectus. We will send you another copy of any prospectus or supplements without charge upon request.
On or about November 1, 2021 Dodge & Cox will replace Templeton Investment
Counsel, LLC as the sub-adviser for the International Equity Portfolio and any and all references to the sub-adviser shall refer to Dodge & Cox. The Investment Objective for the International Equity Portfolio will now be “Long-term growth of capital and income.” In addition, on or about November 1, 2021, Wells Capital Management, Inc. will be known as Allspring Global Investments, LLC. Any and all references to the sub-adviser for the Select Bond Portfolio shall refer to Allspring Global Investments, LLC. Please note that with respect to both of these changes, some systems and forms may temporarily reference the previous sub-advisers for these Portfolios.
In light of these changes, in APPENDIX A—Portfolios Available under Your Contract, the following rows
in the table are amended to contain the following information.
|
|
Adviser/
Sub-adviser (if applicable) |
|
Average Annual Total Returns (as of 12/31/2020) |
|
|
|
Long-term growth of
capital and income |
International Equity Portfolio2 |
|
|
|
|
|
Provide as high a level of
total return consistent
with prudent investment
risk; a secondary
objective is to seek
preservation of
shareholders’ capital |
|
MSA/Allspring Global
Investments, LLC |
|
|
|
|
This Supplement is dated November 1, 2021.