|
FEES AND EXPENSES |
Cross-Reference(s)
to Location in
Prospectus | ||
Charges for Early
Withdrawals |
in the first ten
Policy Years you will be assessed a surrender charge of up to
50% of the Target
Premium. For example, if you surrender your
Policy and your total
Target Premium
amount was $100,000, you could pay a surrender charge of up to $50,000. Withdrawals are subject to a $25 service charge (currently waived) for each
withdrawal request. |
Fee and Expense
Tables – Transaction
Fees (Surrender
Charge and
Withdrawal Fee) Also see
Information About
the Policy – Other
Benefits Available
Under the Policy
(Paid-Up Insurance) | ||
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, requesting more than one illustration in a
Policy Year, changes to your Death Benefit
option or
Specified Amount, 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, 2023, 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* | ||
0.21% |
2.21% | |||
* 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
10 Policy Years and the value of your Policy
and life insurance 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
risks and you should review these investment options before making an
investment decision. |
Risks of the Policy –
Investment Risk Also see The Funds |
|
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) 464-3800. |
Risks of the Policy –
Investment Risk and
the Northwestern
Mutual 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 the minimum payment amount,
required to keep the
Policy in force. |
Risks of the Policy –
Policy Lapse Information About
the Policy –
Termination and
Reinstatement | ||
|
RESTRICTIONS |
| ||
Investments |
Transfer or allocations to the Government Money Market
Division are subject
to certain restrictions. 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
Contract Fund Value among
Divisions
. However, we reserve the right to charge $25 for each transfer. You
may invest in up to 30
Divisions at a time. Under certain circumstances
Northwestern Mutual reserves the right to
|
Restrictions on
Amounts in the
Government Money
Market Division
Information about
the Policy – Other
Policy Transactions
(Transfers 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. 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 |
The Policy is 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 a financial incentive to offer or recommend the
Policy
over other investments. |
Distribution of the
Policy
Also see Charges and Deductions – Commissions Paid to Financial Representatives |
|
CONFLICTS OF INTEREST |
Cross-Reference(s)
to Location in
Prospectus | ||
Exchanges |
Some financial representatives may have a financial incentive to offer this
Policy
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 this
Policy rather than continue to own
the existing policy. |
None |
Name of Benefit |
Purpose |
Is Benefit Standard or
Optional |
Brief Description of
Limitations/Restrictions |
Waiver Benefit: Selected
Monthly Premium Benefit |
Optional |
•Not available for all ages or underwriting classifications •The insured must
become totally
disabled while this
benefit is in force
and the disability
must result from
an injury or
sickness and must
last for at least six
months
•There is a charge for this benefit | |
Additional Purchase Benefit |
Optional |
•Not available for all
ages or
underwriting
classifications
•There is a charge for this benefit |
Name of Benefit |
Purpose |
Is Benefit Standard or
Optional |
Brief Description of
Limitations/Restrictions |
Death Benefit Guarantee |
Allows you to select a
Death Benefit Guarantee
terminate due to insufficient value in your
Policy |
Optional |
•Must be elected at issue •Monthly charges
will reduce the
value in your
Policy
during the
guarantee period,
which may
eventually result in
termination
•There is a charge for this benefit |
Death Benefit Guarantee
Premium Suspension |
Allows for the suspension of required premiums
during the
Death Benefit Guarantee Period until
your next
Policy Anniversary |
Standard (with Death
|
•May expire earlier than your next
under certain
circumstances (i.e.,
“retest events”) |
Income Plans |
In lieu of a lump sum, the
Death Benefit and
surrender proceeds may be payable in a monthly
(or less frequent) payments over a period of time |
Standard |
|
Exchange for a Fixed Benefit
Policy |
Allows you to exchange your
Policy for a life
insurance policy with benefits that do not vary with
the investment experience of the underlying
|
Standard |
•Requires premium payments be paid •There may be a
cost associated
with exchange
•Exchange may have tax consequences |
Paid-up Insurance |
Standard |
•Must be selected
by Owner •Election is
irrevocable
•Policy Debt and
charges continue
•When in force as
Paid-up insurance,
no additional
premium is allowed
on the Policy, your
option will be irrevocably changed and you may not add optional benefits to the
Policy |
Name of Benefit |
Purpose |
Is Benefit Standard or
Optional |
Brief Description of
Limitations/Restrictions |
Dollar Cost Averaging |
Standard |
•Must be selected by Owner
| |
Portfolio Rebalancing |
Standard |
•Must be selected by Owner
| |
Asset Allocation Models |
Allocation models are available that comprise a
combination of
Divisions representing various asset
classes with various levels of risk tolerance. |
Standard |
Charge |
When Charge is Deducted |
Amount Deducted | |
Guaranteed Maximum Charge |
Current Charge | ||
State Franchise Tax Charge |
4.30% of Premium Payment
|
2.00% of Premium Payment
| |
Federal Deferred Acquisition Cost Charge1
|
3.00% of Premium Payment
|
0.55% of Premium Payment
| |
Sales Load |
Same as current charge |
6.95% of premium up to Target Premium2and 5.60% of premium in excess of Target Premium in
Policy Years
1-10; 3.95% of premium up to Target
Premium and 5.60% of premium in excess of
Target Premium
in Policy Years 11-20 and 0.00%
beyond year 20 | |
Surrender Charge3 |
|
| |
Maximum Charge4 |
|
Same as current charge |
50% in Policy Years
1-5 of the Target Premium,
grading down monthly in
Policy Years 6-10 to 0% |
Minimum Charge5 |
|
Same as current charge |
13% in Policy Years
1-5 of the Target Premium,
grading down monthly in
Policy Years 6-10 to 0% |
Charge for Insured Issue
Age 35 |
|
Same as current charge |
50% in Policy Years 1-5 of the
Target Premium,
grading down monthly in
Policy Years 6-10 to 0% |
Withdrawal Fee6 |
Upon withdrawal |
$25.00 |
Currently waived |
Transfer Fee6 |
Upon transfer |
$25.00 |
Currently waived |
Change in Death Benefit Option
Fee6 |
$25.00 |
Currently waived | |
Change in Specified Amount
Fee6 |
$25.00 per change after first
change in a
Policy Year |
Currently waived | |
Request for Additional
Illustration Charge6,7 |
Currently waived | ||
Expedited Delivery Charge6,8
|
When express mail
delivery is requested |
$50 per delivery (up to $75
for next day, a.m. delivery)
adjusted for inflation9 |
$15 per delivery (up to $45 for next day, a.m.
delivery) |
Wire Transfer Fee6,8 |
When a wire transfer is
requested |
$50 per transfer (up to $100
for international wires)
adjusted for inflation9 |
$25 per transfer (up to $50 for international wires) |
|
|
Amount Deducted | |
Charge |
When Charge is Deducted |
Guaranteed Maximum
Charge |
Current Charge |
Cost of Insurance Charge2 |
Monthly, on each
|
|
|
Maximum Charge3 |
|
Same as current charge |
$83 (monthly) per $1,000 of net amount at risk |
Minimum Charge4 |
|
$0.007 (monthly) per
$1,000 of net amount at
risk |
$0.006 (monthly) per $1,000 net amount at risk |
Charge for Insured Age 35, Male, Premier Non- Tobacco underwriting classification5 |
|
$0.01 (monthly) per $1,000 of net amount at risk in
the first
Policy Year (varies by
Policy Year) | |
Percent of Contract Fund
Value Charge6 |
Monthly, on each
|
0.07% annually (0.006% monthly rate) of
Contract
Fund Value during
Policy Years 1-20 and 0.00%
beyond year 20 |
|
Administrative Charge |
Monthly, on each
|
|
|
Maximum Charge7 |
|
$10 (monthly) |
$7 (monthly) |
Minimum Charge8 |
|
$10 (monthly) |
$5 (monthly) |
Charge for Insured Age 35, Male, Premier Non- Tobacco underwriting classification |
|
$10 (monthly) |
$5 (monthly) |
Specified Amount Charge |
|
| |
Maximum Charge9 |
|
Same as current charge |
1.375% (monthly) of Target
Premium during Policy
Years 1-10 |
Minimum Charge10 |
|
Same as current charge |
1.021% (monthly) of Target
Premium during Policy
Years 1-10 |
Charge for Insured Age 35, Male, Premier Non- Tobacco underwriting classification |
|
Same as current charge |
1.25% (monthly) of
Target Premium during
Policy
Years 1-10 |
Death Benefit Guarantee
Charge |
$0.01 per $1,000 of Guaranteed Minimum Death |
|
|
Amount Deducted | |
Charge |
When Charge is Deducted |
Guaranteed Maximum
Charge |
Current Charge |
Policy Debt Expense Charge11
|
0.78% annually (0.065% monthly rate) of
Policy Debt
for Policy Years 1-20
0.28% annually (0.023% monthly rate) of
Policy Debt
for Policy Years 21 and above | ||
Underwriting and Issue
Charge12 |
|
| |
Maximum Charge13 |
|
Same as current charge |
$0.026 (monthly) per $1,000 of
Initial Specified |
Minimum Charge14 |
|
Same as current charge |
$0.005 (monthly) per $1,000 of
Initial Specified |
Charge for Insured Age 35, Male, Premier Non- Tobacco underwriting classification |
|
Same as current charge |
$0.007 (monthly) per $1,000 of
Initial Specified |
Selected Monthly
Premium Benefit
Charge15 |
Monthly, on each
|
|
|
Maximum Charge16 |
|
The greater of $0.03 (monthly) per $1.00 of
Selected
Monthly Premium, or $0.05 (monthly) per $1.00 of
| |
Minimum Charge17 |
|
$0.001 (monthly) per $1.00 of
Selected Monthly | |
Charge for Insured Age 35, Male, Premier Non- Tobacco underwriting classification |
|
$0.003 (monthly) per $1.00 of
Selected Monthly | |
Additional Purchase Benefit
Charge18 |
Monthly, on each
|
|
|
Maximum Charge19 |
|
$0.14 (monthly) per
$1,000 of additional
purchase benefit amount |
$0.03 (monthly) per $1,000 of additional purchase
benefit amount |
Minimum Charge20 |
|
$0.04 (monthly) per
$1,000 of additional
purchase benefit amount |
$0.01 (monthly) per $1,000 of additional purchase
benefit amount |
Charge for Insured, Issue
Age 0, Male |
|
$0.04 (monthly) per
$1,000 of additional
purchase benefit amount |
$0.02 (monthly) per $1,000 of additional purchase benefit |
|
Minimum |
Maximum |
0.21% |
2.21% | |
Annual Portfolio Operating Expenses After Contractual
Fee Waiver or Reimbursement* |
0.20% |
2.16% |
Investment
Objective |
Portfolio and
Adviser/ Sub-adviser (if applicable) |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/2023) | |||
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. |
0.43% |
49.69% |
13.38% |
10.82% |
Long-term growth of
capital |
Focused Appreciation
Portfolio2 |
MSA/Loomis, Sayles &
Company, L.P. |
0.62%1 |
50.99% |
17.78% |
14.56% |
Long-term growth of
capital and income |
Large Cap Core Stock
Portfolio2 |
MSA/Wellington
Management Company LLP |
0.44%1 |
25.78% |
15.50% |
10.57% |
Long-term growth of
capital and income |
Large Cap Blend
Portfolio2 |
MSA/J.P. Morgan Investment
Management, Inc. |
0.70%1 |
20.61% |
10.94% |
9.17% |
Investment results that
approximate the
performance of the
Standard & Poor’s 500®
Composite Stock Price
Index |
Index 500 Stock
Portfolio2 |
MSA/BlackRock Advisors, LLC |
0.20%1 |
26.04% |
15.45% |
11.80% |
Long-term growth of
capital; income is a
secondary objective |
Large Company Value
Portfolio2 |
MSA/American Century
Investment Management,
Inc. |
0.75%1 |
3.80% |
10.57% |
7.80% |
Long-term growth of
capital and income |
Domestic Equity
Portfolio2 |
MSA/Delaware Investments
Fund Advisers, a series of
Macquarie Investment
Management Business Trust |
0.50%1 |
3.71% |
8.48% |
8.07% |
Long-term growth of
capital and income |
Equity Income Portfolio2 |
MSA/T. Rowe Price
Associates, Inc. |
0.57%1 |
9.68% |
11.32% |
7.96% |
Long-term growth of
capital |
Mid Cap Growth Stock
Portfolio2 |
MSA/Wellington
Management Company LLP |
0.54%1 |
14.96% |
10.00% |
7.05% |
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. |
0.25%1 |
16.15% |
12.34% |
8.99% |
Long-term growth of
capital; current income is
a secondary objective |
Mid Cap Value Portfolio2 |
MSA/American Century
Investment Management,
Inc. |
0.72%1 |
6.26% |
11.21% |
8.93% |
Long-term growth of
capital |
Small Cap Growth Stock
Portfolio2 |
MSA/Wellington
Management Company LLP |
0.57% |
18.36% |
9.80% |
7.68% |
Investment results that
approximate the
performance of the
Standard & Poor’s
SmallCap 600® Index |
Index 600 Stock
Portfolio2 |
MSA/Northern Trust
Investments, Inc. |
0.28% |
15.76% |
10.66% |
8.29% |
Long-term growth of
capital |
Small Cap Value
Portfolio2 |
MSA/T. Rowe Price
Investment Management,
Inc. |
0.88%1 |
13.85% |
9.43% |
6.73% |
Investment
Objective |
Portfolio and
Adviser/ Sub-adviser (if applicable) |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/2023) | |||
1 Year |
5 Year |
10 Year |
|
| ||
Long-term growth of
capital |
International Growth
Portfolio2 |
MSA/FIAM LLC |
0.62% |
20.77% |
11.33% |
5.99% |
Capital appreciation |
Research International
Core Portfolio2 |
MSA/Massachusetts
Financial Services Company |
0.72%1 |
12.95% |
8.82% |
4.42% |
Long-term growth of
capital and income |
International Equity
Portfolio2 |
MSA/Dodge & Cox |
0.68% |
16.09% |
4.47% |
1.68% |
Capital appreciation |
Emerging Markets Equity
Portfolio2 |
MSA/abrdn Investments
Limited |
0.91%1 |
6.91% |
3.13% |
1.44% |
Maximum current income
to the extent consistent
with liquidity and stability
of capital3 |
Government Money
Market Portfolio2,4 |
MSA/BlackRock Advisors, LLC |
0.33%1 |
4.83% |
1.68% |
1.07% |
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% |
5.26% |
1.80% |
1.44% |
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/Allspring Global
Investments, LLC |
0.31%1 |
6.19% |
1.41% |
1.94% |
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 |
2.16%1 |
3.33% |
-1.76% |
1.81% |
Pursue total return using
a strategy that seeks to
protect against U.S.
inflation |
Inflation Protection
Portfolio2 |
MSA/American Century
Investment Management,
Inc. |
0.44%1 |
3.90% |
2.86% |
2.06% |
High current income and
capital appreciation |
High Yield Bond
Portfolio2 |
MSA/Federated Investment
Management Company |
0.46% |
13.24% |
5.33% |
4.42% |
Maximum total return,
consistent with prudent
investment management |
Multi-Sector Bond
Portfolio2 |
MSA/Pacific Investment
Management Company LLC |
0.73%1 |
9.71% |
2.34% |
3.02% |
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 |
13.07% |
6.73% |
5.34% |
Realize as high a level of
total return as is
consistent with
reasonable investment
risk |
Asset Allocation
Portfolio2 |
MSA |
0.58%1 |
15.24% |
8.28% |
6.26% |
Long-term growth of
capital |
Fidelity® VIP Mid Cap
Portfolio – Initial Class5 |
Fidelity Management &
Research Company LLC
(FMR)6 |
0.57% |
15.08% |
12.45% |
8.12% |
Long-term capital
appreciation |
Fidelity® VIP
ContrafundSM Portfolio –
Initial Class5 |
FMR6 |
0.56% |
33.45% |
16.65% |
11.61% |
Investment
Objective |
Portfolio and
Adviser/ Sub-adviser (if applicable) |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/2023) | |||
1 Year |
5 Year |
10 Year |
|
| ||
Long-term growth of
capital by investing
primarily in securities of
companies that meet the
Portfolio’s environmental,
social and governance
criteria |
Sustainable Equity
Portfolio7 |
Neuberger Berman
Investment Advisers LLC |
0.90% |
26.90% |
13.97% |
9.99% |
Long-term growth of
capital |
U.S. Strategic Equity
Fund8 |
Russell Investment
Management LLC (RIM)9 |
0.93%1 |
26.29% |
14.19% |
10.23% |
Long-term growth of
capital |
U.S. Small Cap Equity
Fund8 |
RIM9 |
1.16%1 |
13.61% |
10.75% |
6.60% |
Current income and long-
term growth of capital |
Global Real Estate
Securities Fund8 |
RIM9 |
0.90% |
10.55% |
3.50% |
4.02% |
Long-term growth of
capital |
International Developed
Markets Fund8 |
RIM9 |
1.03%1 |
16.26% |
7.46% |
3.94% |
Provide total return |
Strategic Bond Fund8 |
RIM9 |
0.67% |
4.02% |
0.72% |
1.49% |
Current income and
moderate long-term
capital appreciation |
LifePoints® Variable
Target Portfolio Series
Moderate Strategy Fund8 |
RIM9 |
0.86%1 |
11.32% |
4.00% |
3.51% |
Above-average long-term
capital appreciation and a
moderate level of current
income |
LifePoints® Variable
Target Portfolio Series
Balanced Strategy Fund8 |
RIM9 |
0.91%1 |
14.52% |
6.30% |
4.68% |
High long-term capital
appreciation; and as a
secondary objective,
current income |
LifePoints® Variable
Target Portfolio Series
Growth Strategy Fund8 |
RIM9 |
1.00%1 |
17.96% |
8.25% |
5.69% |
High long-term capital
appreciation |
LifePoints® Variable
Target Portfolio Series
Equity Growth Strategy
Fund8 |
RIM9 |
1.03%1 |
19.52% |
8.88% |
6.03% |
Total return |
Commodity Return
Strategy Portfolio – Class
210 |
Credit Suisse Asset
Management, LLC |
0.78% |
-8.90% |
N/A |
16.48% |