# EDGAR Filing Document

**Accession Number:** 0000072176
**File Stem:** 0001193125-26-188914
**Filing Date:** 2026-4
**Character Count:** 86072
**Document Hash:** 13fa456b4434560de26e5a8c7a741b77
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-188914.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0001193125-26-188914

**CONFORMED SUBMISSION TYPE**: 497VPI

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**EFFECTIVENESS DATE**: 20260429

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NML VARIABLE ANNUITY ACCOUNT B
- **CENTRAL INDEX KEY:** 0000072176

**ORGANIZATION NAME:**
- **EIN:** 390509570
- **STATE OF INCORPORATION:** WI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497VPI
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-29240
- **FILM NUMBER:** 26910476

**BUSINESS ADDRESS:**
- **STREET 1:** 720 E WISCONSIN AVE
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 4142992508

**MAIL ADDRESS:**
- **STREET 1:** 720 EAST WISCONSIN AVENUE
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### NML VARIABLE ANNUITY ACCOUNT B (Series ID: S000000063)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000000098 | Flexible Payment Variable Annuity |  |

Flexible Payment <br> Variable Annuity (Account B)

Issued by The Northwestern Mutual Life Insurance Company through <br> NML Variable Annuity Account B (the "[Separate Account](#bookmark_separateaccount_25cd3b60-389b-4c04-ac7f-16dc88f75463)")

[Summary Prospectus](#bookmark_summaryprospectus_25cd3b60-389b-4c04-ac7f-16dc88f75463) for New Investors <br>May 1, 2026

This [Summary Prospectus](#bookmark_summaryprospectus_25cd3b60-389b-4c04-ac7f-16dc88f75463) summarizes key features of the individual flexible payment deferred variable annuity contract (the "[Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)"). Before you invest, you should also review the [prospectus](#bookmark_prospectus_25cd3b60-389b-4c04-ac7f-16dc88f75463) for the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463), which contains more information about the [Contract's](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) features, benefits, and risks. The [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) currently offers two classes: a front-load version (in which a sales charge is assessed when [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) are made) and a back-load version (in which a sales charge is assessed if and when amounts are withdrawn). **This** [**Summary Prospectus**](#bookmark_summaryprospectus_25cd3b60-389b-4c04-ac7f-16dc88f75463) **only describes a back-load version of the** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) **sold in the State of New York**. You can find this prospectus and other information about the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463), including the annual and semi-annual reports for your underlying [Portfolios,](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) online at www.nmprospectus.com. You can also obtain this information at no cost by calling (866) 910-1232 or by sending an email request to vavldocrequest@northwesternmutual.com.

------

**If you are a new investor in the Contract, you may cancel your** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) **within 10 days of receiving it without paying fees or penalties.** <br> In some circumstances, this cancellation period may be longer. Upon cancellation you will receive either a full refund of your [Purchase Payment(s)](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) or your [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463). You should review the prospectus, or consult with your financial representative, for additional information about the specific cancellation terms that apply.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Additional information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission's staff and is available at www.Investor.gov.

**The Securities and Exchange Commission ("SEC") has not approved or disapproved the** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) **or passed upon the adequacy of this** [**Summary Prospectus**](#bookmark_summaryprospectus_25cd3b60-389b-4c04-ac7f-16dc88f75463)**. Any representation to the contrary is a criminal offense.**

Subject to the limitations discussed in the prospectus for the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463), you may choose to invest amounts in up to 59 [Divisions](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463)of the [Separate Account](#bookmark_separateaccount_25cd3b60-389b-4c04-ac7f-16dc88f75463) as well as available fixed options under certain circumstances. Each [Division](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) of the [Separate Account](#bookmark_separateaccount_25cd3b60-389b-4c04-ac7f-16dc88f75463)invests exclusively in shares of a single series of a [Fund](#bookmark_fund_25cd3b60-389b-4c04-ac7f-16dc88f75463) (i.e., an underlying [Portfolio)](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463).

**Only Available in the State of New York**

![](g533953nwmutual_logo.gif)

90-1773-72 (0526)

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **Page** |
| [Glossary of Special Terms](#xx_6dbc389a-5f13-4621-af9f-ef0991fa579f_1) | 1  |
| [Overview of the Contract](#xx_4d8d66ad-bba8-4e42-b390-df7e3eb721eb_1) | 3  |
| [Important Information You Should Consider About the Contract](#xx_4d8d66ad-bba8-4e42-b390-df7e3eb721eb_2) | 4  |
| [Benefits Available Under the Contract](#xx_4d8d66ad-bba8-4e42-b390-df7e3eb721eb_4) | 6  |
| [Buying the Contract](#xx_4d8d66ad-bba8-4e42-b390-df7e3eb721eb_6) | 8  |
| [Making Withdrawals: Accessing Money in Your Contract](#xx_4d8d66ad-bba8-4e42-b390-df7e3eb721eb_6) | 8  |
| [Additional Information About Fees](#xx_4d8d66ad-bba8-4e42-b390-df7e3eb721eb_7) | 9  |
| &nbsp;&nbsp;&nbsp; [Contract Fees and Expenses](#xx_4d8d66ad-bba8-4e42-b390-df7e3eb721eb_7) | 9  |
| &nbsp;&nbsp;&nbsp; [Annual Portfolio Operating Expenses](#xx_4d8d66ad-bba8-4e42-b390-df7e3eb721eb_7) | 9  |
| [Appendix A - Investment Options Available Under the Contract](#xx_8d667877-e54e-4d20-bda5-16790e7e0e9c_1) | 11  |
| [Additional Information](#xx_8eaa1614-1b53-4c76-85ec-216c43fc5eca_1) | 16 |

---

------

Glossary of Special Terms

Unless otherwise specified in this prospectus, the words "Northwestern Mutual," "we," "us," "our," and "Company" mean The Northwestern Mutual Life Insurance Company. The words "you" and "your," unless otherwise specified, mean the Contract Owner. We use a number of special terms in this summary prospectus, including the following:

**Accumulation Unit**—An accounting unit of measure representing the Contract Value, before the date on which Annuity Payments begin, in one or more Divisions of the Separate Account. The related term "Accumulation Unit Value" ("AUV") means the value of a particular Accumulation Unit at a particular time and is analogous to, but not the same as, the share price of a mutual fund.

**Annuitant**—The person upon whose life the Contract is issued and Contract benefits depend. The Primary Annuitant is the person upon whose life the Contract is initially issued. The Contingent Annuitant is the person who becomes the Annuitant upon the death of the Primary Annuitant. If the Contract is annuitized under a single life income plan, there will be one Annuitant. If the Contract is annuitized under a joint life income plan, there will be two Joint Annuitants.

**Annuity Payments**—Money we pay under a variable income plan or fixed income plan during the annuitization phase of the Contract.

**Annuity Unit**—An accounting unit of measure representing the actuarial value of a variable income plan's interest in a Division of the Separate Account after Annuity Payments begin.

**Beneficiary**— A person who receives payments under the Contract pursuant to an Income Plan or upon the death of the Annuitant before the Maturity Date provided that the Annuitant was an Owner of the Contract at the time of death.

**Company**—The Northwestern Mutual Life Insurance Company

**Contract**—The agreement between you and us described in this variable annuity prospectus. During the accumulation period of the Contract, you may invest money under your Contract and any earnings on your investment will accumulate on a tax-deferred basis. During the annuitization period, you receive periodic payments based largely on the amounts you accumulate, all or a portion of which will be taxable as ordinary income.

**Contract Value**—The value of your Contract on any Valuation Date is equal to the value of your amounts held in the Divisions of the Separate Account on that Valuation Date.

**Division**—A sub-account of the Separate Account, the assets of which are invested exclusively in the shares of one of the Portfolios of the underlying Funds.

**Fund**—A Fund is registered under the Investment Company Act of 1940 (the "1940 Act") as an open-end management investment company or as a unit investment trust, or is not required to be registered under the 1940 Act. A Fund is available as an investment option under the Contract. The assets of each of the Divisions of the Separate Account are used to purchase shares of the corresponding Portfolio of a Fund.

**Income Plan**—An optional method of receiving the death benefit, maturity benefit, surrender proceeds or withdrawal proceeds of an insurance policy or annuity contract generally through a series of periodic payments. An Income Plan may also be known as a "payment plan."

**Maturity Date**—The date, stated on the specifications page of the Contract, on which Purchase Payments must cease and Annuity Payments become payable.

**Northwestern Mutual**—The Northwestern Mutual Life Insurance Company

**Owner**—The person with the sole right to exercise all rights and privileges under the Contract, except as the Contract otherwise provides.

**Portfolio**—A series of a Fund available for investment under the Contract which corresponds to a particular Division of the Separate Account.

**Prospectus**—The full statutory prospectus for the Contract.

**Purchase Payments**—Money you give us to apply to your Contract. The related term "Net Purchase Payment" refers to Purchase Payments after all applicable deductions.

**Required Minimum Distribution ("RMD")—**A minimum amount that the federal tax law generally requires be withdrawn from certain tax-qualified annuities each year.

**Separate Account**—The account the Company has established pursuant to Wisconsin law for those assets that, although belonging to the Company, are reserved for you and other owners of variable annuity contracts supported by the Separate Account.

**Account B Prospectus**

------

**Summary Prospectus**—The summary version of the Contract, which summarizes key information found in the Prospectus for the Contract.

**Valuation Date**—Any day on which the New York Stock Exchange ("NYSE") is open for trading and any other day we are required under the 1940 Act to value assets of a Division of the Separate Account.

**Withdrawal Charge—** A deduction that is made from maturity benefits and withdrawal amounts.

**Account B Prospectus**

------

Overview of the Contract

The [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) is an individual flexible payment variable annuity contract, the purpose of which is primarily to provide for the accumulation of value through variable investment options, through allocations to a variety of Portfolios, and payment of annuity benefits on a fixed or variable basis. The [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) is sold for use under a variety of tax-qualified and nontax-qualified plans and may be appropriate if you have a long-term investment horizon. It is not intended for short-term investment and is therefore not appropriate for people who may need to make early or frequent withdrawals or who intend to engage in frequent trading.

During the years when funds are being paid into your [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463), known as the accumulation (savings) phase, the earnings accumulate on a tax-deferred basis. The annuitization (income) period begins when you start receiving a stream of periodic [annuity payments](#bookmark_annuitypayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) under your [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) that begin on the date you select, and all or a portion of such payments will be taxed as ordinary income. Once you annuitize your [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463), your withdrawal rights will depend on the income plan selected. The amount you accumulate under your [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463), including the results of investment performance of your [Divisions](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) will determine the amount of your monthly [annuity payments](#bookmark_annuitypayments_25cd3b60-389b-4c04-ac7f-16dc88f75463). The Contract offers 59 [Portfolios](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) in which the [Divisions](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) invest and two fixed account investment options. **A list of the investment options available under the Contract is provided at the back of this Prospectus (see Appendix A: Investment Options Available Under the** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)**).**

If amounts are withdrawn from a fixed option before the end of its term, we will apply a Market Value Adjustment. This may result in a significant reduction in your Contract value.

Below are other features and options that the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) offers.

● [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) **classes**. The [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) currently offers two classes for new investors, a front-load version (in which a sales charge is assessed when [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) are made) and a back-load version (in which a sales charge is assessed if and when amounts are withdrawn). **This Summary Prospectus only describes a back-load version of the** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) **sold in the State of New York.** 

● **Accessing your money**. During the accumulation phase, you may make a withdrawal of your [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463) or surrender the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) by submitting a request in writing or by telephone, subject to our administrative procedures. We will waive the surrender charge for up to 10% of [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463) withdrawn each year subject to certain conditions. All withdrawals are subject to the limitations described in the prospectus. Withdrawal rights during the annuitization period will depend on the income plan selected. Any applicable withdrawal (or surrender) charge, federal/state tax withholding, and/or Express Mail Delivery fee will be assessed against and deducted from the amount withdrawn.

● **Tax treatment**. You may transfer [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463) among the [Divisions](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) without tax implications, and earnings (if any) on your investments are generally tax-deferred. You are taxed only when (1) you make a withdrawal or surrender; (2) you receive [annuity payments](#bookmark_annuitypayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) under the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463); or (3) upon payment of the death benefit.

● **Asset Allocation Models**. We make available five asset allocation models at no charge. Each model is comprised of a combination of [Divisions](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) representing various asset classes. The models represent various levels of risk ranging from conservative to very aggressive.

● **Standard Death Benefit**. Your [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) includes a death benefit that will pay your designated beneficiaries (1) the [Contract](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463)Value if an [Annuitant](#bookmark_annuitant_25cd3b60-389b-4c04-ac7f-16dc88f75463) dies before the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)[Maturity Date](#bookmark_maturitydate_25cd3b60-389b-4c04-ac7f-16dc88f75463) and on or after his or her 75th birthday, or (2) the greater of the [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463) or [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) less any adjustment for each withdrawal if an [Annuitant](#bookmark_annuitant_25cd3b60-389b-4c04-ac7f-16dc88f75463) dies before the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)[Maturity Date](#bookmark_maturitydate_25cd3b60-389b-4c04-ac7f-16dc88f75463) and before his or her 75th birthday. If an [Annuitant](#bookmark_annuitant_25cd3b60-389b-4c04-ac7f-16dc88f75463) dies after the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)[Maturity Date](#bookmark_maturitydate_25cd3b60-389b-4c04-ac7f-16dc88f75463) or any time after [Annuitant](#bookmark_annuitant_25cd3b60-389b-4c04-ac7f-16dc88f75463) Payments begin, no death benefit is payable. The [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) has an Enhanced Death Benefit option available for an additional charge.

● **Additional Features and Services**. We make certain additional services available under the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) at no additional charge:

The Automatic Dollar Cost Averaging Plan allows you to transfer a set amount from the Government Money Market [Division](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) to other [Divisions](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) on a regular schedule. The [Portfolios](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) Rebalancing feature automatically rebalances your [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463) among your selected [Divisions](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) in order to restore your allocation to the original level. You may participate only in one of the Automatic Dollar Cost Averaging Plan and [Portfolios](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) Rebalancing feature at a time. We do not charge for participation in these features.

The Systematic Withdrawal Plan allows you to set up automatic monthly withdrawals from your [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463). We will take any withdrawal under this plan proportionally from your [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463) in your selected investment options or the investment options you designate subject to certain conditions. We do not charge for participation in this feature.

**Account B Prospectus**

------

Important Information You Should Consider About the Contract

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **FEES, EXPENSES, AND ADJUSTMENTS** | **FEES, EXPENSES, AND ADJUSTMENTS** | **FEES, EXPENSES, AND ADJUSTMENTS** | &nbsp;&nbsp; **Cross-Reference(s)** <br> **to Location in** <br> **Prospectus**<br>|
| **Are There Charges** <br> **or Adjustments for** <br> **Early Withdrawals?**<br>| &nbsp;&nbsp; **Yes.** If you withdraw amounts from or surrender your [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) within seven <br> years following the applicable [Purchase Payment(s)](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463), you will be assessed a <br> withdrawal charge of up to 7% of the [Purchase Payment(s)](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463). Any applicable <br> withdrawal (or surrender) charge, federal/state tax withholding, and/or Express <br> Mail Delivery fee will be assessed against and deducted from the amount <br> withdrawn.<br>For example, if you surrender your back-load [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) before your first <br> [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) anniversary and your total initial investment was $100,000, you will <br> pay a surrender charge of up to $7,000. | &nbsp;&nbsp; **Yes.** If you withdraw amounts from or surrender your [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) within seven <br> years following the applicable [Purchase Payment(s)](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463), you will be assessed a <br> withdrawal charge of up to 7% of the [Purchase Payment(s)](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463). Any applicable <br> withdrawal (or surrender) charge, federal/state tax withholding, and/or Express <br> Mail Delivery fee will be assessed against and deducted from the amount <br> withdrawn.<br>For example, if you surrender your back-load [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) before your first <br> [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) anniversary and your total initial investment was $100,000, you will <br> pay a surrender charge of up to $7,000. | &nbsp;&nbsp; **Yes.** If you withdraw amounts from or surrender your [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) within seven <br> years following the applicable [Purchase Payment(s)](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463), you will be assessed a <br> withdrawal charge of up to 7% of the [Purchase Payment(s)](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463). Any applicable <br> withdrawal (or surrender) charge, federal/state tax withholding, and/or Express <br> Mail Delivery fee will be assessed against and deducted from the amount <br> withdrawn.<br>For example, if you surrender your back-load [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) before your first <br> [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) anniversary and your total initial investment was $100,000, you will <br> pay a surrender charge of up to $7,000. | &nbsp;&nbsp; Fee and Expense <br> Tables – Contract <br> Fees and Expenses<br>|
| **Are There** <br> **Transaction** <br> **Charges?**<br>| &nbsp;&nbsp; **Yes.** In addition to (or instead of) withdrawal charges, you may also be charged <br> for other transactions, such as certain tax-related charges, as well as charges <br> for expedited delivery or wire transfers.  | &nbsp;&nbsp; **Yes.** In addition to (or instead of) withdrawal charges, you may also be charged <br> for other transactions, such as certain tax-related charges, as well as charges <br> for expedited delivery or wire transfers.  | &nbsp;&nbsp; **Yes.** In addition to (or instead of) withdrawal charges, you may also be charged <br> for other transactions, such as certain tax-related charges, as well as charges <br> for expedited delivery or wire transfers.  | Charges  |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; **Yes.** The table below describes the fees and expenses that you may pay each <br> year, depending on the Investment Options and optional benefits you choose. <br> Please refer to your [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. | &nbsp;&nbsp; **Yes.** The table below describes the fees and expenses that you may pay each <br> year, depending on the Investment Options and optional benefits you choose. <br> Please refer to your [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. | &nbsp;&nbsp; **Yes.** The table below describes the fees and expenses that you may pay each <br> year, depending on the Investment Options and optional benefits you choose. <br> Please refer to your [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. | &nbsp;&nbsp; Fee and Expense <br> Tables – Contract <br> Fees and Expenses, <br> Range of Annual <br> Portfolio Operating <br> Expenses, and <br> Examples  |
| **Are There Ongoing** <br> **Fees and Expenses?** | **Annual Fee** | **Minimum** | **Maximum** | &nbsp;&nbsp; Fee and Expense <br> Tables – Contract <br> Fees and Expenses, <br> Range of Annual <br> Portfolio Operating <br> Expenses, and <br> Examples  |
| **Are There Ongoing** <br> **Fees and Expenses?** | Base Contract | 0.40%<sup>1</sup> <br>| 1.26%<sup>1</sup> <br>| &nbsp;&nbsp; Fee and Expense <br> Tables – Contract <br> Fees and Expenses, <br> Range of Annual <br> Portfolio Operating <br> Expenses, and <br> Examples  |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Investment Options<br> (Portfolio company fees and expenses)<br>| 0.14%<sup>2</sup> <br>| 2.50% <sup>2</sup> <br>| &nbsp;&nbsp; Fee and Expense <br> Tables – Contract <br> Fees and Expenses, <br> Range of Annual <br> Portfolio Operating <br> Expenses, and <br> Examples  |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Optional Benefits Available<br> for an Additional Charge (for single optional <br> benefit if elected)<br>| 0.10%<sup>3</sup> <br>| 0.40%<sup>3</sup> <br>| &nbsp;&nbsp; Fee and Expense <br> Tables – Contract <br> Fees and Expenses, <br> Range of Annual <br> Portfolio Operating <br> Expenses, and <br> Examples  |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; <sup>1</sup>As a percentage of average total net assets attributable to the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) for the <br> fiscal year ended December 31, 2025.<br> <sup>2</sup>As a percentage of [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) assets.<br> <sup>3</sup>As a percentage of entire benefit. | &nbsp;&nbsp; <sup>1</sup>As a percentage of average total net assets attributable to the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) for the <br> fiscal year ended December 31, 2025.<br> <sup>2</sup>As a percentage of [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) assets.<br> <sup>3</sup>As a percentage of entire benefit. | &nbsp;&nbsp; <sup>1</sup>As a percentage of average total net assets attributable to the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) for the <br> fiscal year ended December 31, 2025.<br> <sup>2</sup>As a percentage of [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) assets.<br> <sup>3</sup>As a percentage of entire benefit. | &nbsp;&nbsp; Fee and Expense <br> Tables – Contract <br> Fees and Expenses, <br> Range of Annual <br> Portfolio Operating <br> Expenses, and <br> Examples  |

---

**Account B Prospectus**

------

**FEES, EXPENSES, AND ADJUSTMENTS** **Cross-Reference(s)** **to Location in** **Prospectus** 

**RISKS** 

**RESTRICTIONS** 

**Account B Prospectus**

------

---

| | | |
|:---|:---|:---|
|  | **RESTRICTIONS** | &nbsp;&nbsp; **Cross-Reference(s)** <br> **to Location in** <br> **Prospectus**<br>|
| **Are There Any** <br> **Restrictions on** <br> **Contract Benefits?**<br>| &nbsp;&nbsp; **Yes.** Optional benefits may be subject to additional charges that may vary by <br> issue age, are not available for all issue ages, must be elected at issue and <br> cannot be added once it is removed or expires. | &nbsp;&nbsp; The Contract – <br> Death Benefit <br> (Enhanced Death <br> Benefit Examples) <br>|
|  | **TAXES** |  |
| **What Are the** <br> **Contract's Tax** <br> **Implications?**<br>| &nbsp;&nbsp; You should consult with a tax professional to determine the tax implications of <br> an investment in, and payments received under, the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463). There is no <br> additional tax benefit if the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) is purchased through a tax-qualified plan <br> or individual retirement account (IRA). Withdrawals (and some distributions) <br> will generally be subject to ordinary income tax rates, and may be subject to <br> penalties. | &nbsp;&nbsp; Federal Income <br> Taxes<br>|
|  | **CONFLICTS OF INTEREST** |  |
| **How Are** <br> **Investment** <br> **Professionals** <br> **Compensated?**<br>| &nbsp;&nbsp; The [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) is sold exclusively through financial representatives of <br> [Northwestern Mutual's](#bookmark_northwesternmutual_25cd3b60-389b-4c04-ac7f-16dc88f75463) affiliated broker-dealer, who are compensated with a <br> commission based on a percentage of [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463), and [Northwestern](#bookmark_northwesternmutual_25cd3b60-389b-4c04-ac7f-16dc88f75463)<br> [Mutual](#bookmark_northwesternmutual_25cd3b60-389b-4c04-ac7f-16dc88f75463) may share revenue it earns on the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) with its affiliated broker-<br> dealer. These financial representatives may have a financial incentive to offer <br> or recommend the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) over other investments. | &nbsp;&nbsp; Additional <br> Information – The <br> Distributor<br>|
| **Should I Exchange** <br> **My Contract?**<br>| &nbsp;&nbsp; Some financial representatives may have a financial incentive to offer a new <br> contract in place of the one you already own. You should only exchange an <br> existing contract if you determine, after comparing the features, fees and risks <br> of both contracts, and any fees or penalties to terminate the existing contract, <br> that it is preferable to purchase the new [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) rather than continue to own <br> an existing contract. | &nbsp;&nbsp; Additional <br> Information – The <br> Distributor<br>|

---

Benefits Available Under the Contract

The following table summarizes information about a variety of standard and optional benefits available under the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463). If applicable, information about the fees associated with a benefit included in the table may be found in the Fees and Expense Tables.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit** <br> **Standard or** <br> **Optional**<br>| **Maximum Fee** | &nbsp;&nbsp; **Brief Description of Limitations/**<br> **Restrictions**<br>|
| Standard Death <br> Benefit<br>| &nbsp;&nbsp; The [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) provides a death <br> benefit to be paid under a lump <br> sum, fixed or variable income <br> plans or continued in force as a <br> new contract for the payee(s)<br>| Standard | No Charge | &nbsp;&nbsp;&nbsp;&nbsp; ●Only payable if the [Annuitant](#bookmark_annuitant_25cd3b60-389b-4c04-ac7f-16dc88f75463) dies <br> before the [Maturity Date](#bookmark_maturitydate_25cd3b60-389b-4c04-ac7f-16dc88f75463)<br> ●[Income Plans](#bookmark_incomeplan_25cd3b60-389b-4c04-ac7f-16dc88f75463) have their own <br> payout benefit rules at death (see <br> below)<br> ●Is reduced for withdrawals <br> ●If payee elects to continue the <br> [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) in force, additional <br> restrictions may apply<br>|
| Enhanced Death <br> Benefit<br>| &nbsp;&nbsp; An optional enhanced death <br> benefit is available that allows <br> the [Owner](#bookmark_owner_25cd3b60-389b-4c04-ac7f-16dc88f75463) to annually "lock in" <br> certain increases in [Contract](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463)<br> [Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463)<br>| Optional | 0.40%<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; ●Not available for all issue ages and <br> enhanced death benefit <br> adjustments are limited by the <br> primary [Annuitant's](#bookmark_annuitant_25cd3b60-389b-4c04-ac7f-16dc88f75463) age<br> ●Must be elected at issue<br> ●Cannot be added once terminated<br> ●There is a charge for this benefit<br>|

---

**Account B Prospectus**

------

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit** <br> **Standard or** <br> **Optional**<br>| **Maximum Fee** | &nbsp;&nbsp; **Brief Description of Limitations/**<br> **Restrictions**<br>|
| [Income Plans](#bookmark_incomeplan_25cd3b60-389b-4c04-ac7f-16dc88f75463) | &nbsp;&nbsp; [Annuity Payments](#bookmark_annuitypayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) and death <br> benefit payments are payable <br> under various income plans on a <br> variable or fixed basis <br>| Standard | No charge<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; ●Plans for [Annuity Payments](#bookmark_annuitypayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) for a <br> specified period are not available <br> for [Contracts](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) issued after <br> May 1, 2013<br> ●Variable income plans are subject <br> to some [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) charges (as well <br> as expenses of the underlying <br> [Portfolios](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463)) and are subject to <br> market risk<br> ●Fixed income plans are funded <br> through withdrawals from the <br> [Separate Account](#bookmark_separateaccount_25cd3b60-389b-4c04-ac7f-16dc88f75463) and may be <br> subject to a withdrawal charge<br> ●Transfers between [Income Plans](#bookmark_incomeplan_25cd3b60-389b-4c04-ac7f-16dc88f75463)<br> are only allowed under limited <br> circumstances <br>|
| Reinvestment of <br> Redemptions<br>| &nbsp;&nbsp; In certain limited circumstances, <br> allows [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) to be <br> made without the deduction of <br> a sales load, or with a refund of <br> a withdrawal charge <br>| Standard | No Charge | &nbsp;&nbsp;&nbsp;&nbsp; ●Request to void redemption must <br> be made within 60 days without <br> passing the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) anniversary<br> ●Requests will not be processed <br> where redemption proceeds were <br> paid by a check payable to the <br> [Owner](#bookmark_owner_25cd3b60-389b-4c04-ac7f-16dc88f75463) and cashed or proceeds <br> directly deposited into a bank <br> account<br>|
| Automatic Dollar <br> Cost Averaging<br>| &nbsp;&nbsp; On a periodic basis, <br> automatically transfers a specific <br> amount from the Government <br> Money Market [Division](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) into <br> other [Divisions](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) you selected<br>| Standard | No charge | &nbsp;&nbsp;&nbsp;&nbsp; ●Cannot use with portfolio <br> rebalancing<br>|
| Systematic <br> Withdrawal Plan<br>| &nbsp;&nbsp; Allows for monthly payments <br> drawn from your investment <br> options during the accumulation <br> phase either proportionately <br> from your investment options or <br> from specific investment options <br>| Standard | No charge | &nbsp;&nbsp;&nbsp;&nbsp; ●Withdrawal charges may apply to <br> amounts in excess of the free <br> withdrawal amount<br> ●Taxes or penalties may apply<br>|
| Special Withdrawal <br> Privilege<br>| &nbsp;&nbsp; Allows the withdrawal of 10% of <br> [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463) without a <br> surrender charge<br>| Standard | No Charge | &nbsp;&nbsp;&nbsp;&nbsp; ●[Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) must be at least $10,000<br> ●Applies only after the first [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)<br> anniversary<br>|
| [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463)<br> Rebalancing<br>| &nbsp;&nbsp; Automatically rebalances the <br> [Divisions](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) you select (either <br> monthly, quarterly, semi-<br> annually or annually) to <br> maintain your chosen mix of <br> [Divisions](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463)<br>| Standard | No charge | &nbsp;&nbsp;&nbsp;&nbsp; ●Ordinarily ends upon transfers from <br> applicable [Divisions](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463)<br> ●Cannot use with dollar cost <br> averaging<br>|
| Asset Allocation <br> Models<br>| &nbsp;&nbsp; Allocation models are available <br> that comprise a combination of <br> [Divisions](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) representing various <br> asset classes with various levels <br> of risk tolerance <br>| Standard | No charge | &nbsp;&nbsp;&nbsp;&nbsp; ●Only one model is available at a <br> time<br> ●Models are "static" and therefore <br> the [Owner](#bookmark_owner_25cd3b60-389b-4c04-ac7f-16dc88f75463) must make an <br> affirmative election to change <br> models<br> ●Available models may change in the <br> future<br>|

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>1</sup>

The annual charge for the Optional Enhanced Death Benefit is expressed as a percentage of the entire benefit and varies by issue age.

<sup>2</sup>

Variable income plans continue to be assessed Base Contract Charges.

**Account B Prospectus**

------

Buying the Contract

You may make [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) monthly, quarterly, semiannually, annually, or on any other frequency acceptable to us. For [Contracts](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) in non-tax qualified situations, the minimum initial [Purchase Payment](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) is $5,000. For all other [Contracts](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463), the minimum amount for an initial [Purchase Payment](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) is $100 ($25 if on an Insurance Service Account (ISA)). The minimum amount for each subsequent [Purchase Payment](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) for all [Contracts](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) is $25, although we may accept lower amounts in certain circumstances. We will accept larger [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) than the minimums, but total [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) under any [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) may not exceed $5,000,000 without our consent. [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) may not exceed the applicable federal income tax limits. In certain situations, we may, in our discretion, reduce or waive our minimum [purchase payment](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) requirements.

We credit Net [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) to the variable investment options as you direct.

Initial Net [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) allocated to a [Division](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) will be priced at the [Accumulation Unit](#bookmark_accumulationunit_25cd3b60-389b-4c04-ac7f-16dc88f75463) Value determined no later than two [Valuation Dates](#bookmark_valuationdate_25cd3b60-389b-4c04-ac7f-16dc88f75463) after we receive at our Home Office or a lockbox facility we have designated both your initial [Purchase Payment](#bookmark_purchasepayment_25cd3b60-389b-4c04-ac7f-16dc88f75463)and your application in good order. "Good order" means that the application is complete and accurate and all applicable requirements are satisfied. If your application is not in good order, we may take up to five [Valuation Dates](#bookmark_valuationdate_25cd3b60-389b-4c04-ac7f-16dc88f75463) to resolve the problem. If we are unable to resolve the problem within that time, we will notify you in writing of the reasons for the delay. If you revoke the consent given with your application to hold your initial [Purchase Payment](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) pending resolution of the problem, we will return your payment. Otherwise, the number of [Accumulation Units](#bookmark_accumulationunit_25cd3b60-389b-4c04-ac7f-16dc88f75463) you receive for your initial Net Purchase Payment will be determined based upon the valuation of the assets of the [Divisions](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) you select not later than two [Valuation Dates](#bookmark_valuationdate_25cd3b60-389b-4c04-ac7f-16dc88f75463) following the date on which the problem is resolved and your application is put into good order. Subsequent Net [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) will be priced based on the next determined [Accumulation Unit](#bookmark_accumulationunit_25cd3b60-389b-4c04-ac7f-16dc88f75463) Value after the payment is received in good order either at the Home Office or a lockbox facility we have designated.

We deem receipt of a [Purchase Payment](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) to be received on a given [Valuation Date](#bookmark_valuationdate_25cd3b60-389b-4c04-ac7f-16dc88f75463) if receipt occurs before the close of trading on the NYSE (typically, 4:00 p.m. Eastern Time). If receipt occurs on or after the close of trading on the NYSE, we deem receipt to occur on the following [Valuation Date](#bookmark_valuationdate_25cd3b60-389b-4c04-ac7f-16dc88f75463). We determine the value of an [Accumulation Unit](#bookmark_accumulationunit_25cd3b60-389b-4c04-ac7f-16dc88f75463) in each [Division](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463) by multiplying the value on the immediately preceding valuation date by the net investment factor for the [Division](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463). The net investment factor takes into account the investment experience of the [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) and the deduction for any applicable taxes or charges.

Making Withdrawals: Accessing Money in Your Contract

[Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)[Owners](#bookmark_owner_25cd3b60-389b-4c04-ac7f-16dc88f75463) may withdraw some or all of the [Accumulation Unit](#bookmark_accumulationunit_25cd3b60-389b-4c04-ac7f-16dc88f75463) Value of their [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) at any time before the [Maturity](#bookmark_maturitydate_25cd3b60-389b-4c04-ac7f-16dc88f75463)[Date](#bookmark_maturitydate_25cd3b60-389b-4c04-ac7f-16dc88f75463). We may require that a [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463) of at least $2,000 remain after a partial withdrawal. You may instruct us how to allocate your partial withdrawal request among your investments in the [Divisions](#bookmark_division_25cd3b60-389b-4c04-ac7f-16dc88f75463). If no direction is received, your withdrawal will be deducted proportionately from each of your investments. Any applicable withdrawal (or surrender) charge, federal/state tax withholding, and/or Express Mail Delivery fee will be assessed against and deducted from the amount withdrawn.

Withdrawals may also be made after the [Maturity Date](#bookmark_maturitydate_25cd3b60-389b-4c04-ac7f-16dc88f75463). If [Annuity Payments](#bookmark_annuitypayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) are being made under variable income plan 1 (Period Certain), the payee may surrender the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) and receive the value of the [Annuity Units](#bookmark_annuityunit_25cd3b60-389b-4c04-ac7f-16dc88f75463) credited to his or her [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463), less the applicable withdrawal charge. If [Annuity Payments](#bookmark_annuitypayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) are being made under variable income plan 2 (Single Life Income with or without Period Certain) and the payee dies during the Period Certain (or if both payees die during the Period Certain of variable income plan 3 (Joint and Survivor Life Income with Period Certain)), the [Beneficiary](#bookmark_beneficiary_25cd3b60-389b-4c04-ac7f-16dc88f75463) may surrender the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) and receive the withdrawal value of the unpaid payments for the Period Certain. The withdrawal value is based on the [Annuity Unit](#bookmark_annuityunit_25cd3b60-389b-4c04-ac7f-16dc88f75463) value on the withdrawal date, with the unpaid payments discounted at the Assumed Investment Rate.

We process withdrawal requests at the [Accumulation Unit](#bookmark_accumulationunit_25cd3b60-389b-4c04-ac7f-16dc88f75463) Value next determined only after our receipt of your request in good order, which includes satisfaction of all our administrative requirements. Subject to our administrative procedures and our approval, you may request that a withdrawal be processed (or that an [Income Plan](#bookmark_incomeplan_25cd3b60-389b-4c04-ac7f-16dc88f75463) start) on a future date you specify. Otherwise, we will pay the amount of any withdrawal from the [Separate Account](#bookmark_separateaccount_25cd3b60-389b-4c04-ac7f-16dc88f75463) within at least seven days after we receive the request in good order unless the suspension of payments or transfers provision is in effect or if required by government regulators. Withdrawals reduce your [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463) and may be subject to unfavorable tax consequences.

If mandated under applicable law, we may be required to block an [Owner's](#bookmark_owner_25cd3b60-389b-4c04-ac7f-16dc88f75463) account and thereby refuse to pay any requests for transfer, partial withdrawal, surrender or death benefits, until instructions are received from the appropriate regulator. We may also be required to provide additional information about an [Owner](#bookmark_owner_25cd3b60-389b-4c04-ac7f-16dc88f75463) and an [Owner's](#bookmark_owner_25cd3b60-389b-4c04-ac7f-16dc88f75463) account to government regulators.

**Account B Prospectus**

------

Additional Information About Fees

[Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) Fees and Expenses

**The following tables describe the fees, expenses, and adjustments that you will pay when buying, owning, and surrendering or making withdrawals from an Investment Option or the** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)**.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)**, surrender, or make withdrawals from an Investment Option or from the Contract, or transfer** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) V**alue between Investment Options. These tables do not include any charge for state premium tax deductions, which we do not charge for at present, but we reserve the right to do so.**

**Each table shows the maximum and current fees and expenses related to the current** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463).

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| | | |
|:---|:---|:---|
| **Transaction Expenses** | **Current** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)<sup>1</sup> | **Current** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)<sup>1</sup> |
|  | ***Maximum***<br> ***Fee***<br>| ***Current***<br> ***Fee***<br>|
| ***Sales Load (as a percentage*** <br> ***of*** [***Purchase Payments)***](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463)<sup>2</sup> <br>| ***N/A*** | ***N/A*** |
| Maximum Withdrawal Charge for Sales Expenses | 7.00<br> %<br>| 7.00<br> %<br>|
| Transfer Fee | &nbsp;&nbsp; N/A | &nbsp;&nbsp; N/A |
| Expedited Delivery Charges<sup>3</sup> <br>| &nbsp;&nbsp; $17 | &nbsp;&nbsp; $17 |
| Wire Transfer Fee<sup>4</sup> <br>| &nbsp;&nbsp; $15 | &nbsp;&nbsp; $15 |

---

The next table describes the fees and expenses that you will pay each year during the time that you own the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) (not including [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) company fees and expenses).

If you choose to purchase an optional benefit, you will pay additional charges as shown below.

---

| | | |
|:---|:---|:---|
| **Annual** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) **Expenses** | **Current** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)<sup>1</sup> | **Current** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)<sup>1</sup> |
|  | ***Maximum***<br> ***Fee***<br>| ***Current***<br> ***Fee***<br>|
| ***Administrative Expenses***<sup>5</sup> <br>| ***$30*** | ***$30*** |
| Base [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) Expenses (as a percentage of [Separate Account](#bookmark_separateaccount_25cd3b60-389b-4c04-ac7f-16dc88f75463) assets)<sup>6</sup> <br>| 1.50<br> %<br>| 1.10<br> %<br>|
| Optional Enhanced Death Benefit Expenses (as a percentage of the entire benefit)<sup>7</sup> <br>| 0.40<br> %<br>| 0.10<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Each table shows the maximum and current fees and expenses related to the current [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463).

The base contract expense and the [Withdrawal Charge](#bookmark_withdrawalcharge_25cd3b60-389b-4c04-ac7f-16dc88f75463) depend on the length of time amounts have been held under the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) and the size of the amounts held. (See "Base Contract Charges" and "Withdrawal Charges—Withdrawal Charge Rates.")

For express mail delivery with signature required; the express mail delivery charge without signature is $15.

We also charge $15 for wire transfers in connection with withdrawals.

We charge an Annual [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) Fee of $30. We are currently waiving the Annual [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) Fee if [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) less withdrawals equal or exceed $25,000. We reserve the right to change this practice in the future. We will give at least 30 days prior notice.

There are two types of [Accumulation Units](#bookmark_accumulationunit_25cd3b60-389b-4c04-ac7f-16dc88f75463): "Class A" and "Class B." We reserve the right to increase the current base contract expense to the maximum annual rate of 1.50% for the back-load [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) Class B [Accumulation Units](#bookmark_accumulationunit_25cd3b60-389b-4c04-ac7f-16dc88f75463). Under the back-load [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463), we convert Class B [Accumulation Units](#bookmark_accumulationunit_25cd3b60-389b-4c04-ac7f-16dc88f75463) to Class A [Accumulation Units](#bookmark_accumulationunit_25cd3b60-389b-4c04-ac7f-16dc88f75463) on the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) Anniversary if the [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463) is at least $25,000 and the Class B [Accumulation Units](#bookmark_accumulationunit_25cd3b60-389b-4c04-ac7f-16dc88f75463) have reached Withdrawal Charge Category Zero. For further information on Class B and Class A [Accumulation Units](#bookmark_accumulationunit_25cd3b60-389b-4c04-ac7f-16dc88f75463), see "Base Contract Charges—Reduction of Charges." The Contracts may provide for charges for transfers between the Divisions of the Separate Account and for premium taxes, but we are not presently assessing such charges.

The maximum charge is for issue age (i.e., the age nearest the Primary [Annuitant's](#bookmark_annuitant_25cd3b60-389b-4c04-ac7f-16dc88f75463) birthday at the time the application is approved) 56-65. The charge is 0.10% for issue age 45 or less and 0.20% for issue age 46-55. The "entire" enhanced death benefit on any [Valuation Date](#bookmark_valuationdate_25cd3b60-389b-4c04-ac7f-16dc88f75463) equals the greatest of (i) the [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463) on that [Valuation Date](#bookmark_valuationdate_25cd3b60-389b-4c04-ac7f-16dc88f75463), (ii) the amount of [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) made under the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) (adjusted for any withdrawals), or (iii) the EDB on the most recent [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) anniversary date prior to the Primary [Annuitant's](#bookmark_annuitant_25cd3b60-389b-4c04-ac7f-16dc88f75463) 80th birthday, increased by any [Purchase Payments](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) we received since that [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)anniversary and decreased by the percentage of [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463) withdrawn since that [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) anniversary. The EDB is available only at the time the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)is issued. At the time of issue, the value of the EDB would be equal to the greater of the Initial [Purchase Payment](#bookmark_purchasepayments_25cd3b60-389b-4c04-ac7f-16dc88f75463) or the [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463).

Annual [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) Operating Expenses

**The table below shows the minimum and maximum total operating expenses of the** [**Portfolios**](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) **that you may pay periodically during the time that you own the** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)**. Expenses shown may change over time and may be higher or lower in the future. A complete list of the** [**Portfolios**](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) **available under the** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)**, including their annual expenses, may be found at the back of this document (i.e., Appendix A: Investment Options Available Under the** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)**).** 

**Account B Prospectus**

------

---

| | | |
|:---|:---|:---|
|  | **Minimum** | **Maximum** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Annual** [**Portfolio**](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) **Operating Expenses** (expenses deducted from [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) assets, including management fees, <br> distribution (12b-1) fees, and other expenses as a percentage of average [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) assets)<br>| &nbsp;&nbsp; 0.14% | &nbsp;&nbsp; 2.50% |
| **Annual** [**Portfolio**](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) **Operating Expenses After Contractual Fee Waiver or Reimbursement\*** | &nbsp;&nbsp; 0.14% | &nbsp;&nbsp; 2.45% |

---

\*

The "Annual [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) Operating Expenses After Contractual Fee Waiver or Reimbursement" line in the above table shows the minimum and maximum fees and expenses as of December 31, 2025 charged by all of the [Portfolios](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) after taking into account contractual fee waiver or reimbursement arrangements in place. Those contractual arrangements are designed to reduce total Annual [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) Operating Expenses and will continue for at least one year from the date of this prospectus.

For more information about voluntary fee waivers that may be in place, see the "Charges" section.

**Examples**<sup>1</sup>

**The following Examples are intended to help you compare the cost of investing in the Variable Options with the cost of investing in other annuity contracts that offer variable options. These costs include** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463)[**Owner**](#bookmark_owner_25cd3b60-389b-4c04-ac7f-16dc88f75463) **transaction expenses, annual** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) **expenses, and annual** [**Portfolio**](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) **expenses.** 

**The Examples assume all Contract value is allocated to the Variable Options.** 

**The Examples assume that you invest $100,000 in the Variable Options for the time periods indicated and that your investment has a 5% return each year. The Examples reflect the maximum expenses of the underlying** [**Portfolios**](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) **(as set forth above) as well as the Optional Enhanced Death Benefit Maximum Charge. Although your actual costs may be higher or lower than those shown below, based on these assumptions, your costs would be as follows:**

**Back-Load** [**Contract**](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) **With the Enhanced Death Benefit** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **1 year** | **3 years** | **5 years** | **10 years** |
| If you surrender your <br> [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) at the end of the <br> applicable time period:<br>| &nbsp;&nbsp; $11415  | &nbsp;&nbsp; $20423  | &nbsp;&nbsp; $27531 | &nbsp;&nbsp; $45748  |
| If you annuitize at the end <br> of the applicable time <br> period:<br>| &nbsp;&nbsp; $4415 | &nbsp;&nbsp; $13423 | &nbsp;&nbsp; $22531  | &nbsp;&nbsp; $45748 |
| If you do not surrender <br> your [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463):<br>| &nbsp;&nbsp; $4415 | &nbsp;&nbsp; $13423 | &nbsp;&nbsp; $22531 | &nbsp;&nbsp; $45748 |

---

<sup>1</sup>

The charge for the EDB above was determined by multiplying the maximum EDB percentage charge (0.40%) by the entire EDB. The EDB amounts assumed for purposes of this example are equal to the [Contract Value](#bookmark_contractvalue_25cd3b60-389b-4c04-ac7f-16dc88f75463) at each anniversary. Such hypothetical amounts are for illustrative purposes only. The $30 annual [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) fee is reflected as 0.03% based on the annual [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) fees collected divided by the average assets attributable to the back-load [Contracts](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) for the fiscal year ended December 31, 2025.

**Account B Prospectus**

------

Appendix A - Investment Options Available Under the Contract

Portfolios Available under Your Contract

The following is a list of [Portfolios](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) available under the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463). More information about the [Portfolios](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) is available in the prospectuses for the [Portfolios](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463), which may be amended from time to time and can be found online at www.nmprospectus.com. You can also request this information at no cost by calling (866) 910-1232 or by sending an email request to vavldocrequest@northwesternmutual.com.

The current expenses and performance information below reflects fees and expenses of the [Portfolios](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463), but do not reflect the other fees and expenses that your [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) may charge. Expenses would be higher and performance would be lower if these other charges were included. Each [Portfolio's](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) past performance is not necessarily an indication of future performance.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objective** | **Portfolio and Adviser/Sub-adviser (if applicable)** | **Current Expenses** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** |
| **Investment Objective** | **Portfolio and Adviser/Sub-adviser (if applicable)** | **Current Expenses** | **1 Year** | **5 Year** | **10 Year** |
| Long-term growth of <br> capital; current income is <br> a secondary objective<br>**Growth Stock Portfolio**<sup>2</sup>  | &nbsp;&nbsp;&nbsp; Mason Street Advisors, LLC <br> &nbsp;&nbsp;&nbsp;&nbsp;(MSA)/T. Rowe Price <br> Associates, Inc<br>| 0.42%<sup>1</sup> <br>| 19.40% | 11.99% | 14.80% |
| Long-term growth of <br> capital<br>&nbsp;&nbsp; **Focused Appreciation** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/Loomis, Sayles & <br> Company, L.P.<br>| 0.58%<sup>1</sup> <br>| 14.91% | 14.89% | 17.07% |
| Long-term growth of <br> capital and income<br>&nbsp;&nbsp; **Large Cap Core Stock** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/Wellington <br> Management Company LLP<br>| 0.43%<sup>1</sup> <br>| 16.59% | 12.70% | 13.96% |
| Long-term growth of <br> capital and income<br>&nbsp;&nbsp; **Large Cap Blend** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/J.P. Morgan Investment <br> Management, Inc.<br>| 0.70%<sup>1</sup> <br>| 14.34% | 11.77% | 11.98% |
| Investment results that <br> approximate the <br> performance of the <br> Standard & Poor's 500<sup>®</sup> <br> Composite Stock Price <br> Index<br>&nbsp;&nbsp; **Index 500 Stock** <br> **Portfolio**<sup>2</sup><br>| MSA/BlackRock Advisors, LLC | 0.19%<sup>1</sup> <br>| 17.64% | 14.19% | 14.58% |
| Long-term growth of <br> capital; income is a <br> secondary objective<br>&nbsp;&nbsp; **Large Company Value** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/American Century <br> Investment Management, <br> Inc.<br>| 0.74%<sup>1</sup> <br>| 14.58% | 9.85% | 9.48% |
| Long-term growth of <br> capital and income<br>&nbsp;&nbsp; **Domestic Equity** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/Putnam Investment <br> Management, LLC<br>| 0.50%<sup>1</sup> <br>| 14.43% | 8.63% | 8.87% |
| Long-term growth of <br> capital and income<br>**Equity Income Portfolio**<sup>2</sup> | &nbsp;&nbsp;&nbsp; MSA/T. Rowe Price <br> Associates, Inc<br>| 0.57%<sup>1</sup> <br>| 14.48% | 11.31% | 10.64% |
| Long-term growth of <br> capital<br>&nbsp;&nbsp; **Mid Cap Growth Stock** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/J.P. Morgan Investment <br> Management, Inc.<br>| 0.54%<sup>1</sup> <br>| 8.32% | 2.51% | 7.81% |
| Investment results that <br> approximate the <br> performance of the <br> Standard & Poor's <br> MidCap 400<sup>®</sup> Stock Price <br> Index<br>&nbsp;&nbsp; **Index 400 Stock** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/Northern Trust <br> Investments, Inc.<br>| 0.24%<sup>1</sup> <br>| 7.24% | 8.85% | 10.44% |
| Long-term growth of <br> capital; current income is <br> a secondary objective<br>**Mid Cap Value Portfolio**<sup>2</sup> | &nbsp;&nbsp;&nbsp; MSA/American Century <br> Investment Management, <br> Inc.<br>| 0.71%<sup>1</sup> <br>| 9.16% | 8.96% | 9.25% |
| Long-term growth of <br> capital<br>&nbsp;&nbsp; **Small Cap Growth Stock** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/Wellington <br> Management Company LLP<br>| 0.56% | 6.93% | 1.29% | 8.82% |
| Investment results that <br> approximate the <br> performance of the <br> Standard & Poor's <br> SmallCap 600<sup>®</sup> Index<br>&nbsp;&nbsp; **Index 600 Stock** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/Northern Trust <br> Investments, Inc.<br>| 0.26% | 5.78% | 6.98% | 9.48% |

---

**Account B Prospectus**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objective** | **Portfolio and Adviser/Sub-adviser (if applicable)** | **Current Expenses** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** |
| **Investment Objective** | **Portfolio and Adviser/Sub-adviser (if applicable)** | **Current Expenses** | **1 Year** | **5 Year** | **10 Year** |
| Long-term growth of <br> capital<br>&nbsp;&nbsp; **Small Cap Value** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/T. Rowe Price <br> Investment Management, <br> Inc.<br>| 0.87%<sup>1</sup> <br>| 7.41% | 6.22% | 9.15% |
| Long-term growth of <br> capital<br>&nbsp;&nbsp; **International Growth** <br> **Portfolio**<sup>2</sup><br>| MSA/FIAM LLC | 0.61%<sup>1</sup> <br>| 18.70% | 6.11% | 9.07% |
| Capital appreciation<br> &nbsp;&nbsp; **Research International** <br> **Core Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/Massachusetts <br> Financial Services Company <br>| 0.58%<sup>1</sup> <br>| 22.98% | 5.89% | 7.81% |
| Long-term growth of <br> capital and income<br>&nbsp;&nbsp; **International Equity** <br> **Portfolio**<sup>2</sup><br>| MSA/Dodge & Cox | 0.68%<sup>1</sup> <br>| 38.35% | 10.31% | 6.65% |
| Capital appreciation<br> &nbsp;&nbsp; **Emerging Markets Equity** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/abrdn Investments <br> Limited<br>| 0.78%<sup>1</sup> <br>| 34.19% | 1.26% | 6.95% |
| Maximum current income <br> to the extent consistent <br> with liquidity and stability <br> of capital<sup>3</sup> <br>&nbsp;&nbsp; **Government Money** <br> **Market Portfolio**<sup>2</sup><br>| MSA/BlackRock Advisors, LLC | 0.33% | 4.03% | 3.03% | 1.96% |
| Provide as high a level of <br> current income as is <br> consistent with prudent <br> investment risk<br>&nbsp;&nbsp; **Short-Term Bond** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/T. Rowe Price <br> Associates, Inc.<br>| 0.40% | 5.70% | 2.20% | 2.40% |
| Provide as high a level of <br> total return consistent <br> with prudent investment <br> risk; a secondary <br> objective is to seek <br> preservation of <br> shareholders' capital<br>**Select Bond Portfolio**<sup>2</sup> | &nbsp;&nbsp;&nbsp; MSA/Allspring Global <br> Investments, LLC<br>| 0.31%<sup>1</sup> <br>| 7.45% | -0.19% | 2.25% |
| Maximum total return, <br> consistent with <br> preservation of capital <br> and prudent investment <br> management<br>&nbsp;&nbsp; **Long-Term U.S.** <br> **Government Bond** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/Pacific Investment <br> Management Company LLC<br>| 2.45%<sup>1</sup> <br>| 6.15% | -7.18% | -0.19% |
| Pursue total return using <br> a strategy that seeks to <br> protect against U.S. <br> inflation<br>&nbsp;&nbsp; **Inflation Managed** <br> **Portfolio**<sup>2</sup> **(formerly** <br> **"Inflation Protection** <br> **Portfolio")**<br>| &nbsp;&nbsp;&nbsp; MSA/American Century <br> Investment Management, <br> Inc.<br>| 0.46%<sup>1</sup> <br>| 6.51% | 0.92% | 2.82% |
| High current income and <br> capital appreciation<br>&nbsp;&nbsp; **High Yield Bond** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/Federated Investment <br> Management Company<br>| 0.46% | 8.49% | 4.06% | 5.95% |
| Maximum total return, <br> consistent with prudent <br> investment management<br>&nbsp;&nbsp; **Multi-Sector Bond** <br> **Portfolio**<sup>2</sup><br>| &nbsp;&nbsp;&nbsp; MSA/Pacific Investment <br> Management Company LLC<br>| 0.75%<sup>1</sup> <br>| 10.00% | 1.66% | 4.56% |
| Realize as high a level of <br> total return as is <br> consistent with <br> conservative investment <br> risk, through income and <br> secondarily through <br> capital appreciation<br>&nbsp;&nbsp; **Active/Passive** <br> **Conservative Portfolio**<sup>2</sup><br>| MSA | 0.54%<sup>1</sup> <br>| N/A | N/A | N/A |
| Realize as high a level of <br> total return as is <br> consistent with <br> reasonable investment <br> risk through appreciation <br> and income<br>&nbsp;&nbsp; **Active/Passive Balanced** <br> **Portfolio**<sup>2</sup> **(formerly** <br> **"Balanced Portfolio")**<br>| MSA | 0.44%<sup>1</sup> <br>| 12.19% | 4.71% | 6.76% |
| Realize as high a level of <br> total return as is <br> consistent with moderate <br> investment risk through <br> appreciation and <br> secondarily through <br> income<br>&nbsp;&nbsp; **Active/Passive Moderate** <br> **Portfolio**<sup>2</sup>**(formerly** <br> **"Asset Allocation** <br> **Portfolio")**<br>| MSA | 0.49%<sup>1</sup> <br>| 14.46% | 6.36% | 8.21% |

---

**Account B Prospectus**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objective** | **Portfolio and Adviser/Sub-adviser (if applicable)** | **Current Expenses** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** |
| **Investment Objective** | **Portfolio and Adviser/Sub-adviser (if applicable)** | **Current Expenses** | **1 Year** | **5 Year** | **10 Year** |
| Realize as high a level of <br> total return as is <br> consistent with aggressive <br> investment risk, primarily <br> through appreciation and <br> some income <br>&nbsp;&nbsp; **Active/Passive** <br> **Aggressive Portfolio**<sup>2</sup><br>| MSA | 0.60%<sup>1</sup> <br>| N/A | N/A | N/A |
| Long-term growth of <br> capital<br>&nbsp;&nbsp;&nbsp; **Active/Passive Very** <br> **Aggressive Portfolio**<sup>2</sup> <br> (formerly "Active/Passive <br> All Equity Portfolio")<br>| MSA | 0.63%<sup>1</sup> <br>| N/A | N/A | N/A |
| Growth of capital<br> &nbsp;&nbsp; **American Funds**<sup>®</sup> **IS** <br> **Growth Fund - Class 1A**<sup>4</sup><br>| &nbsp;&nbsp;&nbsp; Capital Research and <br> Management Company <br> &nbsp;&nbsp;&nbsp;&nbsp;(CRMC)<br>| 0.58% | 20.24% | 13.37% | N/A |
| Long-term growth of <br> capital<br>&nbsp;&nbsp; **American Funds**<sup>®</sup> **IS** <br> **Global Growth Fund -** <br> **Class 1A**<sup>4</sup><br>| CRMC | 0.65%<sup>1</sup> <br>| 21.63% | 8.24% | N/A |
| Long-term capital <br> appreciation<br>&nbsp;&nbsp; **American Funds**<sup>®</sup> **IS New** <br> **World Fund**<sup>®</sup> **- Class 1A**<sup>4</sup><br>| CRMC | 0.82%<sup>1</sup> <br>| 28.27% | 5.32% | N/A |
| Provide as high a level of <br> current income as is <br> consistent with the <br> preservation of capital<br>&nbsp;&nbsp; **American Funds**<sup>®</sup> **IS The** <br> **Bond Fund of America**<sup>®</sup> **-** <br> **Class 1A**<sup>4</sup><br>| CRMC | 0.47%<sup>1</sup> <br>| 7.24% | -0.14% | N/A |
| Provide, over the long <br> term, a high level of total <br> return consistent with <br> prudent investment <br> management <br>&nbsp;&nbsp; **American Funds**<sup>®</sup> **IS** <br> **Capital World Bond** <br> **Fund**<sup>®</sup> **- Class 1A**<sup>4</sup><br>| CRMC | 0.73% | 9.31% | -2.50% | N/A |
| Provide a high level of <br> current income; a <br> secondary objective is <br> capital appreciation<br>&nbsp;&nbsp; **American Funds**<sup>®</sup> **IS** <br> **American High-Income** <br> **Trust**<sup>®</sup> **- Class 1A**<sup>4</sup><br>| CRMC | 0.62%<sup>1</sup> <br>| 8.19% | 5.59% | N/A |
| Seek to match the <br> performance of the MSCI <br> EAFE Index in U.S. dollars <br> with net dividends as <br> closely as possible before <br> deduction of fund <br> expenses<br>&nbsp;&nbsp; **BlackRock International** <br> **Index V.I. Fund - Class I**<sup>5</sup><br>| BlackRock Advisors, LLC | 0.27%<sup>1</sup> <br>| 31.37% | 8.88% | 8.18% |
| Maximize total return, <br> consistent with income <br> generation and prudent <br> investment management<br>&nbsp;&nbsp; **BlackRock Total Return** <br> **V.I. Fund - Class I**<sup>5</sup><br>| &nbsp;&nbsp;&nbsp; BlackRock Advisors, LLC/<br> BlackRock International <br> Limited & BlackRock <br> &nbsp;&nbsp;&nbsp;&nbsp;(Singapore) Limited <br>| 0.43%<sup>1</sup> <br>| 8.00% | -0.37% | 2.18% |
| Total return<br> &nbsp;&nbsp; **Cantor Fitzgerald** <br> **Commodity Return** <br> **Strategy Portfolio – Class** <br> **2**<sup>6</sup><br>| &nbsp;&nbsp;&nbsp; O'Connor Alternative <br> Investments, LLC <sup>7</sup> <br>| 0.80%<sup>1</sup> <br>| 15.68% | 10.61% | N/A |
| Long-term capital <br> appreciation<br>&nbsp;&nbsp; **Columbia VP Small Cap** <br> **Value Discovery Fund -** <br> **Class 1**<sup>8</sup> **(formerly "VP** <br> **Small Cap Value Fund")**<br>| &nbsp;&nbsp;&nbsp; Columbia Management <br> Investment Advisers, LLC<br>| 0.91%<sup>1</sup> <br>| 14.99% | 12.48% | 11.48% |
| Long-term growth of <br> capital<br>&nbsp;&nbsp; **Fidelity**<sup>®</sup> **VIP Mid Cap** <br> **Portfolio – Initial Class**<sup>9</sup><br>| &nbsp;&nbsp;&nbsp; Fidelity Management & <br> Research Company LLC <br> &nbsp;&nbsp;&nbsp;&nbsp;(FMR)<sup>10</sup> <br>| 0.55% | 11.75% | 10.10% | 10.59% |
| Long-term capital <br> appreciation <br>&nbsp;&nbsp; **Fidelity**<sup>®</sup> **VIP** <br> **Contrafund**<sup>SM</sup> **Portfolio –** <br> **Initial Class**<sup>9</sup><br>| FMR<sup>10</sup> <br>| 0.54% | 21.52% | 15.37% | 15.78% |
| Capital appreciation<br> &nbsp;&nbsp; **Fidelity**<sup>®</sup> **VIP Value** <br> **Strategies Portfolio -** <br> **Initial Class**<sup>9</sup><br>| FMR<sup>10</sup> <br>| 0.59% | 7.99% | 12.14% | 10.82% |

---

**Account B Prospectus**

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objective** | **Portfolio and Adviser/Sub-adviser (if applicable)** | **Current Expenses** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** |
| **Investment Objective** | **Portfolio and Adviser/Sub-adviser (if applicable)** | **Current Expenses** | **1 Year** | **5 Year** | **10 Year** |
| Capital appreciation<br> &nbsp;&nbsp; **Fidelity**<sup>®</sup> **VIP Health Care** <br> **Portfolio - Initial Class**<sup>9</sup><br>| FMR<sup>10</sup> <br>| 0.59% | 14.39% | 4.18% | 8.75% |
| Capital appreciation<br> &nbsp;&nbsp; **Fidelity**<sup>®</sup> **VIP Technology** <br> **Portfolio - Initial Class**<sup>9</sup><br>| FMR<sup>10</sup> <br>| 0.56% | 23.36% | 16.83% | 23.76% |
| Seek to provide <br> investment results that <br> correspond to the <br> aggregate price and <br> interest performance of <br> debt securities in the <br> Bloomberg U.S. Aggregate <br> Bond Index<br>&nbsp;&nbsp; **Fidelity**<sup>®</sup> **VIP Bond Index** <br> **Portfolio - Initial Class**<sup>9</sup><br>| FMR <sup>10</sup> <br>| 0.14% | 6.98% | -0.57% | N/A |
| Long-term growth of <br> capital<br>&nbsp;&nbsp; **John Hancock Disciplined** <br> **Value International Trust** <br> **- Series NAV**<sup>11</sup><br>| &nbsp;&nbsp;&nbsp; John Hancock Variable Trust <br> Advisers LLC/Boston Partners <br> Global Investors, Inc.<br>| 0.79% | 41.02% | 12.70% | 8.97% |
| Long-term capital <br> appreciation and current <br> income<br>&nbsp;&nbsp; **John Hancock Real Estate** <br> **Securities Trust - Series** <br> **NAV**<sup>11</sup><br>| &nbsp;&nbsp;&nbsp; John Hancock Variable Trust <br> Advisers LLC/Wellington <br> Management Company LLP<br>| 0.76%<sup>1</sup> <br>| 0.63% | 5.77% | 5.91% |
| High level of current <br> income<br>&nbsp;&nbsp; **John Hancock Strategic** <br> **Income Opportunities** <br> **Trust - Series NAV**<sup>11</sup><br>| &nbsp;&nbsp;&nbsp; John Hancock Variable Trust <br> Advisers LLC/Manulife <br> Investment Management <br> &nbsp;&nbsp;&nbsp;&nbsp;(US) LLC<br>| 0.74%<sup>1</sup> <br>| 7.51% | 1.61% | 3.26% |
| Long-term growth of <br> capital by investing <br> primarily in securities of <br> companies that meet the <br> Portfolio's environmental, <br> social and governance <br> criteria<br>&nbsp;&nbsp; **Quality Equity Portfolio**<sup>12</sup> <br> **(formerly "Sustainable** <br> **Equity Portfolio")**<br>| &nbsp;&nbsp;&nbsp; Neuberger Berman <br> Investment Advisers LLC<br>| 0.87%  | 13.71% | 12.83% | 12.94% |
| Long-term growth of <br> capital<br>&nbsp;&nbsp; **U.S. Strategic Equity** <br> **Fund**<sup>13</sup><br>| &nbsp;&nbsp;&nbsp; Russell Investment <br> Management LLC (RIM)<sup>14</sup><br>| 0.87%<sup>1</sup> <br>| 14.43% | 10.66% | 12.45% |
| Long-term growth of <br> capital<br>&nbsp;&nbsp; **U.S. Small Cap Equity** <br> **Fund**<sup>13</sup><br>| RIM<sup>14</sup> | 1.06%<sup>1</sup> <br>| 8.34% | 7.15% | 8.98% |
| Current income and long-<br> term growth of capital<br>&nbsp;&nbsp; **Global Real Estate** <br> **Securities Fund**<sup>13</sup><br>| RIM<sup>14</sup> | 0.90% | 8.59% | 2.55% | 3.57% |
| Long-term growth of <br> capital<br>&nbsp;&nbsp; **International Developed** <br> **Markets Fund**<sup>13</sup><br>| RIM<sup>14</sup> | 0.95%<sup>1</sup> <br>| 28.64% | 8.53% | 7.51% |
| Provide total return<br> **Strategic Bond Fund**<sup>13</sup> | RIM<sup>14</sup> | 0.65%<sup>1</sup> <br>| 7.35% | -1.07% | 1.77% |
| Current income and <br> moderate long-term <br> capital appreciation<br>&nbsp;&nbsp; **LifePoints**<sup>®</sup> **Variable** <br> **Target Portfolio Series** <br> **Moderate Strategy** <br> **Fund**<sup>13</sup><br>| RIM<sup>14</sup> | 0.83%<sup>1</sup> <br>| 12.24% | 3.96% | 5.05% |
| Above-average long-term <br> capital appreciation and a <br> moderate level of current <br> income<br>&nbsp;&nbsp; **LifePoints**<sup>®</sup> **Variable** <br> **Target Portfolio Series** <br> **Balanced Strategy Fund**<sup>13</sup><br>| RIM<sup>14</sup> | 0.89%<sup>1</sup> <br>| 14.96% | 6.39% | 6.88% |
| High long-term capital <br> appreciation; and as a <br> secondary objective, <br> current income<br>&nbsp;&nbsp; **LifePoints**<sup>®</sup> **Variable** <br> **Target Portfolio Series** <br> **Aggressive Strategy** <br> **Fund**<sup>13</sup><br>| RIM<sup>14</sup> | 0.95%<sup>1</sup> <br>| 17.45% | 8.56% | 8.59% |
| High long-term capital <br> appreciation<br>&nbsp;&nbsp; **LifePoints**<sup>®</sup> **Variable** <br> **Target Portfolio Series** <br> **Equity Aggressive** <br> **Strategy Fund**<sup>13</sup><br>| RIM<sup>14</sup> | 0.98%<sup>1</sup> <br>| 18.47% | 9.53% | 9.23% |

---

<sup>1</sup>

This reflects an expense reimbursement and/or fee waiver arrangement that is in place and reported in the [Portfolio's](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) registration statement. This agreement may be terminated in the future and, therefore, the expense figures shown reflect temporary fee reductions.

<sup>2</sup>

A series of Northwestern Mutual Series Fund, Inc., for which Mason Street Advisors, LLC (MSA), our wholly-owned company, serves as investment adviser.

**Account B Prospectus**

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<sup>3</sup>

Although the Government Money Market [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) seeks to preserve its value at $1.00 per share, it is possible to lose money by investing in the Government Money Market [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463). An investment in a money market [portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) is neither [insured](#bookmark_insured_25cd3b60-389b-4c04-ac7f-16dc88f75463) nor guaranteed by the Federal Deposit Insurance Corporation or any government agency. During extended periods of low interest rates, the yield of a money market [portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) may also become extremely low and possibly negative.

<sup>4</sup>

A series of American [Funds](#bookmark_fund_25cd3b60-389b-4c04-ac7f-16dc88f75463) Insurance Series<sup>®</sup>.

<sup>5</sup>

The BlackRock International Index V.I. [Fund](#bookmark_fund_25cd3b60-389b-4c04-ac7f-16dc88f75463) and BlackRock Total Return V.I. [Fund](#bookmark_fund_25cd3b60-389b-4c04-ac7f-16dc88f75463) are series of BlackRock Variable Series [Funds](#bookmark_fund_25cd3b60-389b-4c04-ac7f-16dc88f75463), Inc. and BlackRock Variable Series [Funds](#bookmark_fund_25cd3b60-389b-4c04-ac7f-16dc88f75463) II, Inc., respectively.

<sup>6</sup>

A series of Cantor Fitzgerald Variable Insurance Trust (formerly "Credit Suisse Trust").

<sup>7</sup>

Effective March 31, 2026, O'Connor Alternative Investments, LLC succeeded UBS Asset Management (Americas) LLC as the Portfolio's investment adviser.

<sup>8</sup>

A series of Columbia [Funds](#bookmark_fund_25cd3b60-389b-4c04-ac7f-16dc88f75463) Variable Insurance Trust.

<sup>9</sup>

The Fidelity<sup>®</sup> VIP Contrafund<sup>®</sup> [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) is a series of Variable Insurance Products [Fund](#bookmark_fund_25cd3b60-389b-4c04-ac7f-16dc88f75463) II. The Fidelity<sup>®</sup> VIP Mid Cap [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) and Fidelity<sup>®</sup> VIP Value Strategies [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) are each a series of Variable Insurance Products [Fund](#bookmark_fund_25cd3b60-389b-4c04-ac7f-16dc88f75463) III. The Fidelity<sup>®</sup> VIP Health Care [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) and Fidelity<sup>®</sup> VIP Technology [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) are each a series of Variable Insurance Products [Fund](#bookmark_fund_25cd3b60-389b-4c04-ac7f-16dc88f75463) IV. The Fidelity<sup>®</sup> VIP Bond Index [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) is a series of Variable Insurance Products [Fund](#bookmark_fund_25cd3b60-389b-4c04-ac7f-16dc88f75463) V.

<sup>10</sup>

The following affiliates of Fidelity Management & Research Company also assist with foreign investments for each Portfolio: Fidelity Management & Research (U.K.) Inc., Fidelity Management & Research (Hong Kong) Limited, and Fidelity Management & Research (Japan) Inc.

<sup>11</sup>

A series of John Hancock Variable Insurance Trust.

<sup>12</sup>

A series of Neuberger Berman Advisers Management Trust.

<sup>13</sup>

A series of Russell Investment [Funds](#bookmark_fund_25cd3b60-389b-4c04-ac7f-16dc88f75463).

<sup>14</sup>

Assets of each [Portfolio](#bookmark_portfolio_25cd3b60-389b-4c04-ac7f-16dc88f75463) are invested by one or more investment management organizations researched and recommended by Russell Investment Management LLC, the investment adviser for the Russell Investment [Funds](#bookmark_fund_25cd3b60-389b-4c04-ac7f-16dc88f75463).

**Account B Prospectus**

------

Additional Information

More information about the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) and [Separate Account](#bookmark_separateaccount_25cd3b60-389b-4c04-ac7f-16dc88f75463) is included in a Statement of Additional Information ("SAI"), which is dated the same day as this [Summary Prospectus](#bookmark_summaryprospectus_25cd3b60-389b-4c04-ac7f-16dc88f75463) and the [Prospectus](#bookmark_prospectus_25cd3b60-389b-4c04-ac7f-16dc88f75463), and is available free of charge from The [Northwestern](#bookmark_northwesternmutual_25cd3b60-389b-4c04-ac7f-16dc88f75463)[Mutual](#bookmark_northwesternmutual_25cd3b60-389b-4c04-ac7f-16dc88f75463) Life Insurance Company. To request a free copy of the [Separate Account's](#bookmark_separateaccount_25cd3b60-389b-4c04-ac7f-16dc88f75463) SAI, or current annual report, send a written request to [Northwestern Mutual](#bookmark_northwesternmutual_25cd3b60-389b-4c04-ac7f-16dc88f75463), Risk Products Department, Room T10, 720 East Wisconsin Avenue, Milwaukee, WI 53202 or call us at (866) 910-1232. Under certain circumstances you or your Financial Representative may be able to obtain these documents online at www.nmprospectus.com. Reports and other information about the [Separate Account](#bookmark_separateaccount_25cd3b60-389b-4c04-ac7f-16dc88f75463) are available on the SEC's Internet site at www.sec.gov, or they may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

This [Summary Prospectus](#bookmark_summaryprospectus_25cd3b60-389b-4c04-ac7f-16dc88f75463) incorporates by reference the [Prospectus](#bookmark_prospectus_25cd3b60-389b-4c04-ac7f-16dc88f75463) for the [Contract](#bookmark_contract_25cd3b60-389b-4c04-ac7f-16dc88f75463) and the SAI, both dated May 1, 2026, as amended or supplemented. <br>

Edgar Contract Identifier C000000098 <br>

**Account B Prospectus**

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