Summary Prospectus for New Investors by Investment Company - Form 497VPI

Flexible Payment Variable Annuity
(Fee Based Account A)

Issued by The Northwestern Mutual Life Insurance Company and NML Variable Annuity Account A (the "Separate Account")

Summary Prospectus for New Investors
May 1, 2024

This Summary Prospectus summarizes key features of an individual flexible payment variable annuity contract (the "Contract") for Individual Retirement Annuities ("IRAs"), Roth IRAs, and Non-Tax Qualified Annuities and Non-Qualified Plans offered to purchasers who pay periodic fees based on assets in lieu of brokerage commissions as compensation for advisory services (Fee-Based Programs). The Contract provides for accumulation of Contract Value through variable and/or a fixed options. Before you invest, you should also review the Prospectus for the Contract, which contain more information about the Contract's features, benefits and risks. You can find this prospectus and other information about the Contract, including the annual and semi-annual reports for your underlying Portfolios, 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 [email protected].

You may cancel your Contract within 10 days of receiving it without paying fees or penalties.
In some states, this cancellation period may be longer. Depending on your state of issue, upon cancellation you will receive either the full amount of your Purchase Payment(s) or your Contract Value. You should review the prospectus, or consult with your financial representative, for additional information about the specific cancellation terms that apply.

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 or passed upon the adequacy of this Summary Prospectus. Any representation to the contrary is a criminal offense.

Subject to the limitations discussed in the prospectus for the Contract, you may choose to invest amounts in up to 40 Divisionsof the Separate Account as well as available fixed options under certain circumstances. Each Division of the Separate Accountinvests exclusively in shares of a single series of a Fund (i.e., an underlying Portfolio).

The Contract is sold exclusively through financial representatives of Northwestern Mutual's affiliated broker-dealer, who charge an advisory fee for their investment advice or other services. Any advisory fee that is charged by your Investment Professional is in addition to the fees and expenses that apply to your Contract. If you elect to withdraw the advisory fee from your Contract Value, this withdrawal will reduce the death benefit, and may be subject to federal and state income taxes and a 10% federal penalty tax.

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 pursuant to the terms of the Contract. Payments may be paid under one or more of the following three methods: (1) a variable income plan; (2) a fixed income plan; or (3) in cash.

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 the sum of: (1) the value of your amounts held in the Divisions of the Separate Account on that Valuation Date; and (2) the sum of your amounts allocated to any Guaranteed Account(s), plus credited interest; less (3) any applicable fees and amounts withdrawn or transferred from any Guaranteed Account(s).

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.

General Account-All assets of the Company, other than those held in the Separate Account or in other separate accounts that have been or may be established by the Company.

Guaranteed Interest Fund-A fixed investment option under the Contract, supported by the assets held in the Company's General Account, that has a one-year term.

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."

Investment Professional-Someone you select to provide you with brokerage service or investment advice with respect to amounts you invest under your Contract who either is registered as a broker-dealer under the Securities Exchange Act of 1934 or as an investment adviser under the Investment Advisers Act of 1940 directly (or by association with another person), or who provides such service or advice under an exemption from the Investment Advisers Act of 1940.

Maturity Date-The date, stated on the specifications page of the Contract, on which Purchase Payments must cease and Annuity Payments become payable. The maximum maturity date is stated on the specifications page of the Contract and may not be changed.

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.

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.

Important Information You Should Consider About the Contract

	FEES AND EXPENSES	Cross-Reference(s) to Location in Prospectus
Charges for Early Withdrawal	If you withdraw amounts or surrender your Contract, you will not be assessed a surrender charge.	Fee and Expense Tables - Contract Fees and Expenses
Transaction Charges	You may be charged for other transactions, such as tax-related charges, as well as charges for expedited delivery or wire transfers.	Charges
Ongoing Fees and Expenses (annual charges)	The table below describes the fees and expenses that you may pay each year, depending on the options you choose. The fees and expenses do not reflect any advisory fees paid to your Investment Professional from Contract Value or other assets of the owner. If such charges were reflected, the fees and expenses would be higher. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected.	Fee and Expense Tables - Contract Fees and Expenses, Range of Annual Portfolio Operating Expenses, and Examples
Annual Fee	Minimum	Maximum
Base Contract	0.35%1	0.75%1
Investment Options (Portfolio company fees and expenses)	0.21%2	2.21%2
Optional Benefits Available for an Additional Charge (for single optional benefit if elected)	0.10%3	0.40%3
1 As a percentage of Separate Account assets. 2 As a percentage of Portfolio assets. 3 As a percentage of the entire benefit.
	Because your Contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay each year, based on current charges. This estimate assumes that you do not take withdrawals from the Contract, which could add surrender charges that substantially increase costs. Although your actual costs may be higher or lower than those shown below, based on these assumptions, your costs would be as follows:
LOWEST ANNUAL COST $5601	HIGHEST ANNUAL COST $3,5591
Assumes: •Investment of $100,000 •5% annual appreciation •Least expensive combination of Contract Classes and Portfolio fees and expenses •No optional benefits •No sales charges or advisory fees •No additional Purchase Payments, transfers or withdrawals	Assumes: •Investment of $100,000 •5% annual appreciation •Most expensive combination of Contract Classes and Portfolio fees and expenses •No sales charges or advisory fees •No additional Purchase Payments, transfers or withdrawals
1 The lowest and highest dollar amount of fees that would be assessed, based on the assumptions described in the tabular presentation above, for each of the first 10 Contract years.

	CONFLICTS OF INTEREST	Cross-Reference(s) to Location in Prospectus
Investment Professional Compensation	The Contract is sold exclusively through financial representatives of Northwestern Mutual's affiliated broker-dealer, who are compensated with a portion of the asset-based fee paid by the client, and Northwestern Mutual may share revenue it earns on the Contract with its affiliated broker-dealer. These financial representatives may have a financial incentive to offer or recommend the Contract over other investments.	Additional Information -The Distributor
Exchanges	Some financial representatives may have a financial incentive to offer a new Contract in place of the one you already own. You should only exchange an existing contract if you determine, after comparing the features, fees and risks of both contracts, that it is preferable to purchase the new Contract rather than continue to own an existing contract.	Additional Information -The Distributor

Overview of the Contract

The Contract is an individual flexible payment variable annuity contract, the purpose of which is primarily to provide for the accumulation of value through variable or fixed investment options, through allocations to a variety of Portfolios and/or fixed account options, and payment of annuity benefits on a fixed or variable basis. The Contract 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 , 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 under your Contract 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, your withdrawal rights will depend on the income plan selected. The amount you accumulate under your Contract, including the results of investment performance of your Divisions and interest earned under the fixed options will determine the amount of your monthly Annuity Payments. Additional information about the Portfolios in which the Divisions invest is provided in the Appendix (see "Appendix A: Portfolios Available Under Your Contract).

In addition to the Divisions which vary with the investment experience of the underlying Portfolios, the Contract offers a fixed option (Guaranteed Interest Fund or GIF) that credits interest at a declared rate.

Below are other features and options that the Contract offers.

The Automatic Dollar Cost Averaging Plan allows you to transfer a set amount from the Government Money Market Division to other Divisions on a regular schedule. The Portfolio Rebalancing feature automatically rebalances your Contract Value among your selected Divisions in order to restore your allocation to the original level. You may participate only in one of the Automatic

Dollar Cost Averaging Plan and Portfolio Rebalancing feature at a time. We also allow automatic transfers or sweeps of interest from the GIF to any combination of the Divisions monthly, quarterly, semi-annually or annually. 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. We will take any withdrawal under this plan proportionally from your Contract Value in your selected investment options or the investment options you designate subject to certain conditions. We do not charge for participation in this feature.

Benefits Available Under the Contract

The following table summarizes information about a variety of standard and optional benefits available under the Contract. If applicable, information about the fees associated with a benefit included in the table may be found in the Fees and Expense Tables.

Name of Benefit	Purpose	Is Benefit Standard or Optional	Maximum Fee	Brief Description of Limitations/ Restrictions
Fixed Option	The fixed option (Guaranteed Interest Fund or GIF) is available during the accumulation phase. The Declared Rate will not be less than a minimum guaranteed annual effective rate of 0.50% (or a higher rate if required by applicable state law). The Declared Rate will be effective for a Guaranteed Period equal to the shorter of the following two periods: (i) the twelve month period measured from the end of the month of the investment's effective date, or (ii) the period remaining until the Maturity Date of the Contract.	Standard	No Charge3	•Principal and interest rates for fixed option amounts guaranteed by Northwestern Mutual are subject to its claims-paying ability •Effective rates apply only for specified Guaranteed Periods, the terms for which may change at our discretion and may be limited by your Contract's Maturity Date •Allocations to and from the GIF may be subject to special restrictions, such as minimum and maximum limits on initial and additional amounts invested and limits on the timing and amount of transfers out of these options
Automatic Dollar Cost Averaging	On a periodic basis, automatically transfers a specific amount from the Government Money Market Division into other Divisions you selected	Standard	No charge	•Cannot use with portfolio rebalancing
Systematic Withdrawal Plan	Allows for monthly payments drawn from your investment options during the accumulation phase either proportionately from your investment options or from specific investment options	Standard	No charge	•Proportionate deductions may be limited for amounts in the Guaranteed Interest Fund •Taxes or penalties may apply
Portfolio Rebalancing	Automatically rebalances the Divisions you select (either monthly, quarterly, semi- annually or annually) to maintain your chosen mix of Divisions	Standard	No charge	•Ordinarily ends upon transfers from applicable Divisions •Cannot use with dollar cost averaging
Interest Sweeps	Automatically transfers interest from the GIF to any combination of Divisions	Standard	No charge	•Minimum Contract Value required for eligibility

Buying the Contract

You may make Purchase Payments monthly, quarterly, semiannually, annually, or on any other frequency acceptable to us. The minimum initial Purchase Payment is $50,000. The minimum amount for each subsequent Purchase Payment is $25, although we may accept lower amounts in certain circumstances. We will accept larger Purchase Payments than the minimums, but total Purchase Payments under any Contract may not exceed $5,000,000 without our consent. Purchase Payments may not exceed the applicable federal income tax limits. In certain situations, we may, in our discretion, reduce or waive our minimum purchase payment requirements. When initial Purchase Payments representing proceeds from rollovers or annuity exchanges are determined to satisfy the Contract minimum based on values at the time you sign your application, but the amount subsequently received by us is less than the required minimum due to market value fluctuations and sales or administrative fees charged in connection with the rollover or exchange, we may reduce the required minimum by the sum of any such depreciation and fees. The amount of minimum Purchase Payments may also be reduced in light of certain other requirements of Fee-Based Programs.

We credit Net Purchase Payments to the variable and/or fixed investment options as you direct. Initial Net Purchase Paymentsallocated to a Division will be priced at the Accumulation Unit Value determined no later than two Valuation Dates after we receive at our Home Office or a lockbox facility we have designated both your initial Purchase Payment 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 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 pending resolution of the problem, we will return your payment. Otherwise, the number of Accumulation Units you receive for your initial Net Purchase Payment will be determined based upon the valuation of the assets of that Division we make not later than two Valuation Dates following the date on which the problem is resolved and your application is put into good order. Subsequent Net Purchase Payments will be priced based on the next determined Accumulation Unit 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 to occur on a given Valuation Date 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. We determine the value of an Accumulation Unit by multiplying the value on the immediately preceding valuation date by the net investment factor for the Division. The net investment factor takes into account the investment experience of the Portfolio and the deduction for any applicable taxes or charges.

Making Withdrawals: Accessing Money in Your Contract

Contract Owners may withdraw some or all of the Accumulation Unit Value of their Contract at any time before the Maturity Date. We may require that a Contract Value 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 and Guaranteed Interest Fund. If no direction is received, your withdrawal will be deducted proportionately from each of your investments.

Withdrawals may also be made after the Maturity Date . If Annuity Payments are being made under variable income plan 1 (Period Certain), the payee may surrender the Contract and receive the value of the Annuity Units credited to his or her Contract. If Annuity Payments 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 may surrender the Contract and receive the withdrawal value of the unpaid payments for the period certain. The withdrawal value is based on the Annuity Unit value on the withdrawal date, with the unpaid payments discounted at the Assumed Investment Rate.

We process withdrawal requests at the Accumulation Unit 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 start) on a future date you specify. Otherwise, we will pay the amount of any withdrawal from the Separate Account 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 and may be subject to unfavorable tax consequences.

Withdrawals are not subject to a surrender charge, including withdrawals of your advisory fee from Contract Value. If you elect to have your advisory fee withdrawn from Contract Value, the withdrawal of your advisory fee will result in the cancellation of Accumulation Units. The withdrawal will have the same tax effect and effect on Contract benefits as any other withdrawal you make from your Contract. For each withdrawal, including withdrawals of your advisory fee from Contract Value, the death benefit and optional enhanced death benefit is reduced proportionally by the percentage of the Contract Value withdrawn. (See "Benefits Available Under the Contract.") This method of calculating reductions could reduce the relevant values significantly, and by substantially more than the actual amount of the withdrawal. The withdrawal may be subject to federal and state income taxes and a 10% federal penalty tax if withdrawals are made before age 59 1/2. (See "Benefits Available Under the Contract.") Given the significant effect such reductions could have on your Contract benefits, you should discuss the impact of withdrawing advisory fees from Contract Value with your Investment Professional prior to making any election.

If mandated under applicable law, we may be required to block an Owner's 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 and an Owner's account to government regulators.

Additional Information About Fees

Contract Fees and Expenses

The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering the Contract. They do not include any advisory fee your Investment Professional may withdraw from Contract Value for his or her services. The fees and expenses do not reflect any advisory fees paid to your Investment Professional from Contract Value or other assets of the owner. If such charges would be reflected, your fees and expenses would be higher. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have selected.

The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender, or make withdrawals from the Contract, or transfer Contract Value 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.

Transaction Expenses	Maximum Fee	Current Fee
Sales Load (as a percentage of Purchase Payments )	N/A	N/A
Maximum Withdrawal Charge for Sales Expenses	N/A	N/A
Transfer Fee	N/A	N/A
Expedited Delivery Charges1	$17	$17
Wire Transfer Fee2	$15	$15

The next table describes the fees and expenses that you will pay each year during the time that you own the Contract (not including Portfolio company fees and expenses).

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

Annual Contract Expenses	Maximum Fee	Current Fee
Administrative Expenses3	$30	$30
Base Contract Expenses (as a percentage of Separate Account assets)4	0.75 %	0.35 %
Optional Enhanced Death Benefit Expenses (as a percentage of the entire benefit)5	0.40 %	0.10 %

Annual Portfolio Operating Expenses

The table below shows the minimum and maximum total operating expenses of the Portfolios that you may pay periodically during the time that you own the Contract. A complete list of the Portfolios available under the Contract, including their annual expenses, may be found at the back of this document (i.e., Appendix A: Portfolios Available Under Your Contract).

	Minimum	Maximum
Annual Portfolio Operating Expenses (expenses deducted from Portfolio assets, including management fees, distribution (12b-1) fees, and other expenses as a percentage of average Portfolio assets)	0.21%	2.21%
Annual Portfolio Operating Expenses After Contractual Fee Waiver or Reimbursement*	0.20%	2.16%

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

Examples1

The following Examples are intended to help you compare the cost of investing in the Contract with the cost of investing in other variable annuity contracts. These costs include ContractOwner transaction expenses, annual Contract fees, and the fees and annual Portfolio expense. The Example does not include any advisory fee your Investment Professional may withdraw from Contract Value for his or her services. If such charges would be reflected, your fees and expenses would be higher. Because we impose no charges upon surrender or annuitization, your costs will be the same whether you continue to own, surrender, or annuitize the Contract at the end of the period shown. The Examples assume that you invest $100,000 in the Contractfor the time periods indicated and that your investment has a 5% return each year. The Examples reflect the maximum expenses of the underlying Portfolios (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:

Contract With the Enhanced Death Benefit

	1 year	3 years	5 years	10 years
If you surrender your Contract at the end of the applicable time period:	$3,349	$10,316	$17,513	$36,557
If you annuitize at the end of the applicable time period:	$3,349	$10,316	$17,513	$36,557
If you do not surrender your Contract:	$3,349	$10,316	$17,513	$36,557

Please remember that the examples are simply illustrations and do not represent past or future expenses. Your actual expenses may be higher or lower than those shown in the examples. Similarly, your rate of return may be more or less than the 5% assumed in the examples.

Appendix A-Portfolios Available under Your Contract

The following is a list of Portfolios available under the Contract. More information about the Portfolios is available in the prospectuses for the Portfolios , 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 [email protected]. In addition to the Portfolios listed below, the Contract also offers fixed options (see "Other Benefits Available Under the Contract - Fixed Options" above), subject to restrictions, which can earn interest for specified periods at declared rates.

The current expenses and performance information below reflects fees and expenses of the Portfolios, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Portfolio's past performance is not necessarily an indication of future performance.

Investment Objective	Portfolio	Adviser/ Sub-adviser (if applicable)	Current Expenses	Average Annual Total Returns (as of 12/31/2023)
1 Year	5 Year	10 Year
Long-term growth of capital; current income is a secondary objective	Growth Stock Portfolio2	Mason Street Advisors, LLC (MSA)/T. Rowe Price Associates, Inc	0.43%	49.69%	13.38%	10.82%
Long-term growth of capital	Focused Appreciation Portfolio2	MSA/Loomis, Sayles & Company, L.P.	0.62%1	50.99%	17.78%	14.56%
Long-term growth of capital and income	Large Cap Core Stock Portfolio2	MSA/Wellington Management Company LLP	0.44%1	25.78%	15.50%	10.57%
Long-term growth of capital and income	Large Cap Blend Portfolio2	MSA/J.P. Morgan Investment Management, Inc.	0.70%1	20.61%	10.94%	9.17%
Investment results that approximate the performance of the Standard & Poor's 500® Composite Stock Price Index	Index 500 Stock Portfolio2	MSA/BlackRock Advisors, LLC	0.20%1	26.04%	15.45%	11.80%
Long-term growth of capital; income is a secondary objective	Large Company Value Portfolio2	MSA/American Century Investment Management, Inc.	0.75%1	3.80%	10.57%	7.80%
Long-term growth of capital and income	Domestic Equity Portfolio2	MSA/Delaware Investments Fund Advisers, a series of Macquarie Investment Management Business Trust	0.50%1	3.71%	8.48%	8.07%
Long-term growth of capital and income	Equity Income Portfolio2	MSA/T. Rowe Price Associates, Inc	0.57%1	9.68%	11.32%	7.96%
Long-term growth of capital	Mid Cap Growth Stock Portfolio2	MSA/Wellington Management Company LLP	0.54%1	14.96%	10.00%	7.05%
Investment results that approximate the performance of the Standard & Poor's MidCap 400® Stock Price Index	Index 400 Stock Portfolio2	MSA/Northern Trust Investments, Inc.	0.25%1	16.15%	12.34%	8.99%
Long-term growth of capital; current income is a secondary objective	Mid Cap Value Portfolio2	MSA/American Century Investment Management, Inc.	0.72%1	6.26%	11.21%	8.93%
Long-term growth of capital	Small Cap Growth Stock Portfolio2	MSA/Wellington Management Company LLP	0.57%	18.36%	9.80%	7.68%
Investment results that approximate the performance of the Standard & Poor's SmallCap 600® Index	Index 600 Stock Portfolio2	MSA/Northern Trust Investments, Inc.	0.28%	15.76%	10.66%	8.29%

Investment Objective	Portfolio	Adviser/ Sub-adviser (if applicable)	Current Expenses	Average Annual Total Returns (as of 12/31/2023)
1 Year	5 Year	10 Year
Long-term growth of capital by investing primarily in securities of companies that meet the Portfolio's environmental, social and governance criteria	Sustainable Equity Portfolio6	Neuberger Berman Investment Advisers LLC	0.90%	26.90%	13.97%	9.99%
Long-term growth of capital	U.S. Strategic Equity Fund7	Russell Investment Management LLC (RIM)8	0.93%1	26.29%	14.19%	10.23%
Long-term growth of capital	U.S. Small Cap Equity Fund7	RIM8	1.16%1	13.61%	10.75%	6.60%
Current income and long- term growth of capital	Global Real Estate Securities Fund7	RIM8	0.90%	10.55%	3.50%	4.02%
Long-term growth of capital	International Developed Markets Fund7	RIM8	1.03%1	16.26%	7.46%	3.94%
Provide total return	Strategic Bond Fund7	RIM8	0.67%	4.02%	0.72%	1.49%
Current income and moderate long-term capital appreciation	LifePoints® Variable Target Portfolio Series Moderate Strategy Fund7	RIM8	0.86%1	11.32%	4.00%	3.51%
Above-average long-term capital appreciation and a moderate level of current income	LifePoints® Variable Target Portfolio Series Balanced Strategy Fund7	RIM8	0.91%1	14.52%	6.30%	4.68%
High long-term capital appreciation; and as a secondary objective, current income	LifePoints® Variable Target Portfolio Series Growth Strategy Fund7	RIM8	1.00%1	17.96%	8.25%	5.69%
High long-term capital appreciation	LifePoints® Variable Target Portfolio Series Equity Growth Strategy Fund7	RIM8	1.03%1	19.52%	8.88%	6.03%
Total return	Commodity Return Strategy Portfolio - Class 29	Credit Suisse Asset Management, LLC	0.78%	-8.90%	N/A	16.48%

Additional Information

More information about the Contract and Separate Account is included in a Statement of Additional Information ("SAI"), which is dated the same day as this Summary Prospectus and the Prospectus, and is available free of charge from The Northwestern Mutual Life Insurance Company. To request a free copy of the Separate Account's SAI, or current annual report, send a written request to Northwestern Mutual, 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 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: [email protected].

This Summary Prospectus incorporates by reference the Prospectus for the Contract and the SAI, both dated May 1, 2024, as amended or supplemented.

Edgar Contract Identifier C000034305