<PAGE> 1
SUPPLEMENT TO THE PROSPECTUS
DATED APRIL 28, 2000
NORTHWESTERN MUTUAL
VARIABLE JOINT LIFE
The Variable Joint Life policy (the "Policy") described in this
prospectus includes non-guaranteed charges that can change based on expected
changes in Northwestern Mutual mortality and expense experience. The
illustrations on pages 43, 45, 47, and 49 of Appendix A of the prospectus
reflect the current cost of insurance charges being made during the 2000
calendar year. On October 30, 2000, the Trustees of Northwestern Mutual adopted
a revised scale for current cost of insurance charges for Policies sold in 2001.
You will find revised illustrations based on the new current cost of insurance
charges on the following pages of this supplement.
For policies dated on or after January 1, 2001, changes in our
experience produce cost of insurance rates that are higher than the 2000 scale
rates for the earlier policy years, and then lower than the 2000 scale rates for
the later policy years. There is no general rule to determine the impact these
changes to the cost of insurance rates will have on illustrations. The varying
degree of impact on illustrated values depends on the premium levels, investment
performance, death benefit option, and definition of life insurance test (i.e.
cash value accumulation test vs. guideline premium test).
THE DATE OF THIS PROSPECTUS SUPPLEMENT IS JANUARY 1, 2001.
<PAGE> 2
FLEXIBLE PREMIUM VARIABLE JOINT LIFE INSURANCE POLICY
SPECIFIED AMOUNT: $1,000,000 DEATH BENEFIT OPTION: A
MALE SELECT CLASS ISSUE AGE 55 FEMALE SELECT CLASS ISSUE AGE 55
ANNUAL PREMIUM: $20,000 GUIDELINE PREMIUM / CASH VALUE CORRIDOR TEST
CURRENT CHARGES
<TABLE>
<CAPTION>
DEATH BENEFIT
----------------------------------------------------
ASSUMING HYPOTHETICAL GROSS ANNUAL INVESTMENT RETURN OF
END OF PREMIUM ACCUMULATED -------------------------------------------------------
POLICY YEAR AT 5% INTEREST PER YEAR 0% 6% 12%
----------- ----------------------- --------- --------- ---------
<S> <C> <C> <C> <C>
1 21,000 1,000,000 1,000,000 1,000,000
2 43,050 1,000,000 1,000,000 1,000,000
3 66,203 1,000,000 1,000,000 1,000,000
4 90,513 1,000,000 1,000,000 1,000,000
5 116,038 1,000,000 1,000,000 1,000,000
6 142,840 1,000,000 1,000,000 1,000,000
7 170,982 1,000,000 1,000,000 1,000,000
8 200,531 1,000,000 1,000,000 1,000,000
9 231,558 1,000,000 1,000,000 1,000,000
10 264,136 1,000,000 1,000,000 1,000,000
15 453,150 1,000,000 1,000,000 1,000,000
20 694,385 1,000,000 1,000,000 1,235,964
25 1,002,269 1,000,000 1,000,000 2,160,755
30 1,395,216 1,000,000 1,198,057 3,727,260
35 1,896,726 1,000,000 1,605,889 6,262,902
</TABLE>
<TABLE>
<CAPTION>
POLICY VALUE CASH VALUE
------------------------------------------------------ ------------------------------------------------------
ASSUMING HYPOTHETICAL GROSS ANNUAL INVESTMENT RETURN OF ASSUMING HYPOTHETICAL GROSS ANNUAL INVESTMENT RETURN OF
END OF ------------------------------------------------------- -------------------------------------------------------
POLICY YEAR 0% 6% 12% 0% 6% 12%
----------- --------- --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C>
1 15,523 16,526 17,531 6,233 7,236 8,241
2 30,873 33,856 36,960 22,615 25,598 28,703
3 46,052 52,027 58,495 38,827 44,801 51,269
4 61,061 71,080 82,361 54,867 64,887 76,168
5 75,899 91,057 108,811 70,738 85,896 103,649
6 90,567 111,999 138,120 86,438 107,870 133,992
7 105,062 133,950 170,597 101,966 130,853 167,501
8 119,383 156,955 206,582 117,319 154,891 204,517
9 133,525 181,060 246,449 132,492 180,028 245,416
10 147,485 206,315 290,617 147,485 206,315 290,617
15 228,951 368,809 614,185 228,951 368,809 614,185
20 301,766 571,771 1,155,106 301,766 571,771 1,155,106
25 351,849 821,939 2,057,861 351,849 821,939 2,057,861
30 340,748 1,141,007 3,549,772 340,748 1,141,007 3,549,772
35 149,488 1,529,418 5,964,668 149,488 1,529,418 5,964,668
</TABLE>
ALL PREMIUM PAYMENTS ARE ILLUSTRATED AS IF MADE AT THE BEGINNING OF THE POLICY
YEAR. ASSUMES NO POLICY LOAN OR WITHDRAWAL HAS BEEN MADE.
IT IS EMPHASIZED THAT THE HYPOTHETICAL INVESTMENT RESULTS ARE ILLUSTRATIVE ONLY
AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS.
ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND
UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY AN OWNER
TO THE DIVISIONS OF THE VARIABLE ACCOUNT AND THE DIFFERENT RATES OF RETURN OF
THE VARIABLE ACCOUNT.
THE DEATH BENEFIT, POLICY VALUE AND CASH VALUE FOR A POLICY WOULD BE DIFFERENT
FROM THOSE SHOWN IF THE ACTUAL INVESTMENT RATES OF RETURN AVERAGED 0%, 6% AND
12% OVER A PERIOD OF YEARS, BUT FLUCTUATED ABOVE OR BELOW THOSE AVERAGES FOR
INDIVIDUAL POLICY YEARS. THEY WOULD ALSO BE DIFFERENT IF PREMIUMS WERE PAID IN
DIFFERENT AMOUNTS OR FREQUENCIES THAN SHOWN. NO REPRESENTATIONS CAN BE MADE THAT
THESE HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED
OVER A PERIOD OF TIME.
43
<PAGE> 3
FLEXIBLE PREMIUM VARIABLE JOINT LIFE INSURANCE POLICY
SPECIFIED AMOUNT: $1,000,000 DEATH BENEFIT OPTION: A
MALE SELECT CLASS ISSUE AGE 55 FEMALE SELECT CLASS ISSUE AGE 55
ANNUAL PREMIUM: $20,000 CASH VALUE ACCUMULATION TEST
CURRENT CHARGES
<TABLE>
<CAPTION>
DEATH BENEFIT
----------------------------------------------------
ASSUMING HYPOTHETICAL GROSS ANNUAL INVESTMENT RETURN OF
END OF PREMIUM ACCUMULATED -------------------------------------------------------
POLICY YEAR AT 5% INTEREST PER YEAR 0% 6% 12%
----------- ----------------------- --------- --------- ---------
<S> <C> <C> <C> <C>
1 21,000 1,000,000 1,000,000 1,000,000
2 43,050 1,000,000 1,000,000 1,000,000
3 66,203 1,000,000 1,000,000 1,000,000
4 90,513 1,000,000 1,000,000 1,000,000
5 116,038 1,000,000 1,000,000 1,000,000
6 142,840 1,000,000 1,000,000 1,000,000
7 170,982 1,000,000 1,000,000 1,000,000
8 200,531 1,000,000 1,000,000 1,000,000
9 231,558 1,000,000 1,000,000 1,000,000
10 264,136 1,000,000 1,000,000 1,000,000
15 453,150 1,000,000 1,000,000 1,135,911
20 694,385 1,000,000 1,000,000 1,818,881
25 1,002,269 1,000,000 1,137,684 2,804,865
30 1,395,216 1,000,000 1,388,228 4,241,539
35 1,896,726 1,000,000 1,649,511 6,304,409
</TABLE>
<TABLE>
<CAPTION>
POLICY VALUE CASH VALUE
---------------------------------------------------- -----------------------------------------------------
ASSUMING HYPOTHETICAL GROSS ANNUAL INVESTMENT RETURN OF ASSUMING HYPOTHETICAL GROSS ANNUAL INVESTMENT RETURN OF
END OF ------------------------------------------------------- -------------------------------------------------------
POLICY YEAR 0% 6% 12% 0% 6% 12%
----------- --------- --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C>
1 15,523 16,526 17,531 6,233 7,236 8,241
2 30,873 33,856 36,960 22,615 25,598 28,703
3 46,052 52,027 58,495 38,827 44,801 51,269
4 61,061 71,080 82,361 54,867 64,887 76,168
5 75,899 91,057 108,811 70,738 85,896 103,649
6 90,567 111,999 138,120 86,438 107,870 133,992
7 105,062 133,950 170,597 101,966 130,853 167,501
8 119,383 156,955 206,582 117,319 154,891 204,517
9 133,525 181,060 246,449 132,492 180,028 245,416
10 147,485 206,315 290,617 147,485 206,315 290,617
15 228,951 368,809 614,142 228,951 368,809 614,142
20 301,766 571,771 1,150,788 301,766 571,771 1,150,788
25 351,849 819,781 2,021,102 351,849 819,781 2,021,102
30 340,748 1,105,946 3,379,064 340,748 1,105,946 3,379,064
35 149,488 1,410,167 5,389,639 149,488 1,410,167 5,389,639
</TABLE>
ALL PREMIUM PAYMENTS ARE ILLUSTRATED AS IF MADE AT THE BEGINNING OF THE POLICY
YEAR. ASSUMES NO POLICY LOAN OR WITHDRAWAL HAS BEEN MADE.
IT IS EMPHASIZED THAT THE HYPOTHETICAL INVESTMENT RESULTS ARE ILLUSTRATIVE ONLY
AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS.
ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND
UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY AN OWNER
TO THE DIVISIONS OF THE VARIABLE ACCOUNT AND THE DIFFERENT RATES OF RETURN OF
THE VARIABLE ACCOUNT.
THE DEATH BENEFIT, POLICY VALUE AND CASH VALUE FOR A POLICY WOULD BE DIFFERENT
FROM THOSE SHOWN IF THE ACTUAL INVESTMENT RATES OF RETURN AVERAGED 0%, 6% AND
12% OVER A PERIOD OF YEARS, BUT FLUCTUATED ABOVE OR BELOW THOSE AVERAGES FOR
INDIVIDUAL POLICY YEARS. THEY WOULD ALSO BE DIFFERENT IF PREMIUMS WERE PAID IN
DIFFERENT AMOUNTS OR FREQUENCIES THAN SHOWN. NO REPRESENTATIONS CAN BE MADE THAT
THESE HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED
OVER A PERIOD OF TIME.
45
<PAGE> 4
FLEXIBLE PREMIUM VARIABLE JOINT LIFE INSURANCE POLICY
SPECIFIED AMOUNT: $1,000,000 DEATH BENEFIT OPTION: B
MALE SELECT CLASS ISSUE AGE 55 FEMALE SELECT CLASS ISSUE AGE 55
ANNUAL PREMIUM: $20,000 GUIDELINE PREMIUM / CASH VALUE CORRIDOR TEST
CURRENT CHARGES
<TABLE>
<CAPTION>
DEATH BENEFIT
----------------------------------------------------
ASSUMING HYPOTHETICAL GROSS ANNUAL INVESTMENT RETURN OF
END OF PREMIUM ACCUMULATED -------------------------------------------------------
POLICY YEAR AT 5% INTEREST PER YEAR 0% 6% 12%
----------- ----------------------- --------- --------- ---------
<S> <C> <C> <C> <C>
1 21,000 1,015,523 1,016,526 1,017,531
2 43,050 1,030,873 1,033,856 1,036,960
3 66,203 1,046,052 1,052,027 1,058,495
4 90,513 1,061,060 1,071,080 1,082,361
5 116,038 1,075,898 1,091,055 1,108,809
6 142,840 1,090,564 1,111,995 1,138,116
7 170,982 1,105,056 1,133,942 1,170,587
8 200,531 1,119,371 1,156,940 1,206,561
9 231,558 1,133,503 1,181,031 1,246,408
10 264,136 1,147,449 1,206,263 1,290,541
15 453,150 1,228,594 1,368,203 1,613,137
20 694,385 1,299,244 1,566,735 2,145,164
25 1,002,269 1,336,687 1,785,361 2,997,902
30 1,395,216 1,279,082 1,957,390 4,306,086
35 1,896,726 1,000,000 1,913,862 6,199,592
</TABLE>
<TABLE>
<CAPTION>
POLICY VALUE CASH VALUE
---------------------------------------------------- -----------------------------------------------------
ASSUMING HYPOTHETICAL GROSS ANNUAL INVESTMENT RETURN OF ASSUMING HYPOTHETICAL GROSS ANNUAL INVESTMENT RETURN OF
END OF ------------------------------------------------------- -------------------------------------------------------
POLICY YEAR 0% 6% 12% 0% 6% 12%
----------- --------- --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C>
1 15,523 16,526 17,531 6,233 7,236 8,241
2 30,873 33,856 36,960 22,615 25,598 28,703
3 46,052 52,027 58,495 38,826 44,801 51,269
4 61,060 71,080 82,361 54,867 64,886 76,167
5 75,898 91,055 108,809 70,737 85,894 103,648
6 90,564 111,995 138,116 86,435 107,866 133,987
7 105,056 133,942 170,587 101,960 130,845 167,491
8 119,371 156,940 206,561 117,307 154,875 204,496
9 133,503 181,031 246,408 132,471 179,999 245,375
10 147,449 206,263 290,541 147,449 206,263 290,541
15 228,594 368,203 613,137 228,594 368,203 613,137
20 299,244 566,735 1,145,164 299,244 566,735 1,145,164
25 336,687 785,361 1,997,902 336,687 785,361 1,997,902
30 279,082 957,390 3,306,086 279,082 957,390 3,306,086
35 0* 913,862 5,199,592 0* 913,862 5,199,592
</TABLE>
*Additional payment will be required to prevent policy termination.
ALL PREMIUM PAYMENTS ARE ILLUSTRATED AS IF MADE AT THE BEGINNING OF THE POLICY
YEAR. ASSUMES NO POLICY LOAN OR WITHDRAWAL HAS BEEN MADE.
IT IS EMPHASIZED THAT THE HYPOTHETICAL INVESTMENT RESULTS ARE ILLUSTRATIVE ONLY
AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS.
ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND
UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY AN OWNER
TO THE DIVISIONS OF THE VARIABLE ACCOUNT AND THE DIFFERENT RATES OF RETURN OF
THE VARIABLE ACCOUNT.
THE DEATH BENEFIT, POLICY VALUE AND CASH VALUE FOR A POLICY WOULD BE DIFFERENT
FROM THOSE SHOWN IF THE ACTUAL INVESTMENT RATES OF RETURN AVERAGED 0%, 6% AND
12% OVER A PERIOD OF YEARS, BUT FLUCTUATED ABOVE OR BELOW THOSE AVERAGES FOR
INDIVIDUAL POLICY YEARS. THEY WOULD ALSO BE DIFFERENT IF PREMIUMS WERE PAID IN
DIFFERENT AMOUNTS OR FREQUENCIES THAN SHOWN. NO REPRESENTATIONS CAN BE MADE THAT
THESE HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED
OVER A PERIOD OF TIME.
47
<PAGE> 5
FLEXIBLE PREMIUM VARIABLE JOINT LIFE INSURANCE POLICY
SPECIFIED AMOUNT: $1,000,000 DEATH BENEFIT OPTION: B
MALE SELECT CLASS ISSUE AGE 55 FEMALE SELECT CLASS ISSUE AGE 55
ANNUAL PREMIUM: $20,000 CASH VALUE ACCUMULATION TEST
CURRENT CHARGES
<TABLE>
<CAPTION>
DEATH BENEFIT
----------------------------------------------------
ASSUMING HYPOTHETICAL GROSS ANNUAL INVESTMENT RETURN OF
END OF PREMIUM ACCUMULATED -------------------------------------------------------
POLICY YEAR AT 5% INTEREST PER YEAR 0% 6% 12%
----------- ----------------------- --------- --------- ---------
<S> <C> <C> <C> <C>
1 21,000 1,015,523 1,016,526 1,017,531
2 43,050 1,030,873 1,033,856 1,036,960
3 66,203 1,046,052 1,052,027 1,058,495
4 90,513 1,061,060 1,071,080 1,082,361
5 116,038 1,075,898 1,091,055 1,108,809
6 142,840 1,090,564 1,111,995 1,138,116
7 170,982 1,105,056 1,133,942 1,170,587
8 200,531 1,119,371 1,156,940 1,206,561
9 231,558 1,133,503 1,181,031 1,246,408
10 264,136 1,147,449 1,206,263 1,290,541
15 453,150 1,228,594 1,368,203 1,613,137
20 694,385 1,299,244 1,566,735 2,145,164
25 1,002,269 1,336,687 1,785,361 2,997,902
30 1,395,216 1,279,082 1,957,390 4,306,086
35 1,896,726 1,000,000 1,913,862 6,199,592
</TABLE>
<TABLE>
<CAPTION>
POLICY VALUE CASH VALUE
---------------------------------------------------- -----------------------------------------------------
ASSUMING HYPOTHETICAL GROSS ANNUAL INVESTMENT RETURN OF ASSUMING HYPOTHETICAL GROSS ANNUAL INVESTMENT RETURN OF
END OF ------------------------------------------------------- -------------------------------------------------------
POLICY YEAR 0% 6% 12% 0% 6% 12%
----------- --------- --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C>
1 15,523 16,526 17,531 6,233 7,236 8,241
2 30,873 33,856 36,960 22,615 25,598 28,703
3 46,052 52,027 58,495 38,826 44,801 51,269
4 61,060 71,080 82,361 54,867 64,886 76,167
5 75,898 91,055 108,809 70,737 85,894 103,648
6 90,564 111,995 138,116 86,435 107,866 133,987
7 105,056 133,942 170,587 101,960 130,845 167,491
8 119,371 156,940 206,561 117,307 154,875 204,496
9 133,503 181,031 246,408 132,471 179,999 245,375
10 147,449 206,263 290,541 147,449 206,263 290,541
15 228,594 368,203 613,137 228,594 368,203 613,137
20 299,244 566,735 1,145,164 299,244 566,735 1,145,164
25 336,687 785,361 1,997,902 336,687 785,361 1,997,902
30 279,082 957,390 3,306,086 279,082 957,390 3,306,086
35 0* 913,862 5,199,592 0* 913,862 5,199,592
</TABLE>
*Additional payment will be required to prevent policy termination.
ALL PREMIUM PAYMENTS ARE ILLUSTRATED AS IF MADE AT THE BEGINNING OF THE POLICY
YEAR. ASSUMES NO POLICY LOAN OR WITHDRAWAL HAS BEEN MADE.
IT IS EMPHASIZED THAT THE HYPOTHETICAL INVESTMENT RESULTS ARE ILLUSTRATIVE ONLY
AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS.
ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND
UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY AN OWNER
TO THE DIVISIONS OF THE VARIABLE ACCOUNT AND THE DIFFERENT RATES OF RETURN OF
THE VARIABLE ACCOUNT.
THE DEATH BENEFIT, POLICY VALUE AND CASH VALUE FOR A POLICY WOULD BE DIFFERENT
FROM THOSE SHOWN IF THE ACTUAL INVESTMENT RATES OF RETURN AVERAGED 0%, 6% AND
12% OVER A PERIOD OF YEARS, BUT FLUCTUATED ABOVE OR BELOW THOSE AVERAGES FOR
INDIVIDUAL POLICY YEARS. THEY WOULD ALSO BE DIFFERENT IF PREMIUMS WERE PAID IN
DIFFERENT AMOUNTS OR FREQUENCIES THAN SHOWN. NO REPRESENTATIONS CAN BE MADE THAT
THESE HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED
OVER A PERIOD OF TIME.
49
