The specified amount of death benefit is chosen by the policyowner at issue. The minimum amount is $1 million. Three death benefit options are available and can be changed after issue from time to time (although some states prohibit certain option changes after issue). If a certain level of premium payments has been made, there is a specified period during which the policy is guaranteed to remain in force, even if the cash value falls to zero.  For details on the differences between the types of benefits, the availability of option changes after issue, and the death benefit guarantee, contact a Northwestern Mutual Financial Network Representative.

After paying the initial premium, you can determine the amount and timing of any future premiums you pay. The minimum first year premium amount is $25,000.

Like Northwestern Mutual's traditional whole life policies, the cash values are invested in and benefit from the investments in Northwestern Mutual's general account. The cash value increases when you make premium payments and when interest is credited to the policy. Monthly policy charges, withdrawals and policy loans reduce the cash value.

The interest crediting rate for the policy reflects factors unique to the pricing of the contract. The policy has a contractually guaranteed minimum interest crediting rate. However, the interest crediting rate applied to the policy will reflect the extent to which Northwestern Mutual's actual investment experience is more favorable than the assumptions the company used to set the guaranteed minimum rate. For details on the interest crediting rate, contact a Northwestern Mutual Financial Network Representative.

One of the primary characteristics of a universal life contract is the transparency of the expenses. Deductions made from the cash value are made on the same day of each month and reflect charges for the coming month. For details on the monthly policy expenses, contact a Northwestern Mutual Financial Network Representative.

You may borrow from the cash value of your Northwestern Mutual Custom Universal Life-Protector policy. Loans may be taken at a fixed 5% interest rate. Any unpaid loans, along with accumulated interest, will be deducted from the proceeds at death or if the policy is surrendered prior to death. Within contractual limitations, there is a maximum value that can be borrowed that is less than the total cash value of the policy.

You may withdraw money from the policy if it has sufficient cash value.  A fee may be charged. The amount available for withdrawal may be more or less than the total premiums paid. Withdrawals will reduce the policy's cash value and death benefit. Policy withdrawals may be taken up to four times a year.

The policy does not require that premiums be paid. On a monthly basis, the policy charges will be deducted from the cash value. If the funds are not sufficient to pay for the month's expenses, you may make a premium payment to cover the deficiency. If the payment is not made, the policy will lapse.

Download Northwestern Mutual Universal Life Brochure (78k)

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