THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
PROSPECTUSES DATED MAY 1, 2019
NML VARIABLE ANNUITY ACCOUNT A
SUPPLEMENT TO THE PROSPECTUSES
FLEXIBLE PAYMENT VARIABLE ANNUITY
INDIVIDUAL FLEXIBLE PAYMENT VARIABLE ANNUITY (FEE-BASED)
NML VARIABLE ANNUITY ACCOUNT B
SUPPLEMENT TO THE PROSPECTUSES
FLEXIBLE PAYMENT VARIABLE ANNUITY
FLEXIBLE PAYMENT VARIABLE ANNUITY (FEE-BASED)
NML VARIABLE ANNUITY ACCOUNT C
SUPPLEMENT TO THE PROSPECTUSES
GROUP COMBINATION ANNUITY
INDIVIDUAL FLEXIBLE PAYMENT VARIABLE ANNUITY (NETWORK EDITION)
This Supplement and Notice describes changes to the investment options available under your variable annuity contract (the “Contract”) 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 Contract.
This change will not result in a change in your Contract Value nor will your rights or our obligations under the Contract 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 Contract.
If you have any questions concerning the Substitution, please contact your Registered Representative or the Annuity Service Center, toll-free at 1-888-455-2232.
Please read this Supplement and Notice carefully and keep it with your Prospectus for future reference.
This Supplement is dated February 28, 2020.