Northwestern Mutual launches Survivorship VUL Plus

MILWAUKEE – July 1, 2025 – Northwestern Mutual  is expanding its suite of insurance products to support Americans’ estate and legacy planning needs. Through the company’s new Survivorship Variable Universal Life Plus (SVUL Plus) policy, couples, families, and business owners have even more flexibility to plan for their unique financial goals.

Survivorship life insurance, often called “second-to-die life insurance,” covers two policyowners and pays a death benefit when both have passed away. This type of policy is often helpful for:

• Families who want to continue growing wealth while minimizing the estate tax burden on their children and maximizing the value of assets they leave behind;
• Married couples who want to ensure that care continues for children with special needs after both parents have passed; and
• Business partners who want to seamlessly transfer ownership of the business and ensure assets are divided equally among heirs.

“More than ever, people want flexibility in their financial plans, helping them reach multiple goals, solve a range of challenges, and protect the life they worked so hard to build,” said Kamilah Williams-Kemp, chief product officer at Northwestern Mutual. “SVUL Plus can provide financial flexibility when it’s needed most. From families with unique estate planning goals to business owners preparing for succession, this solution can help more Americans secure their legacy for future generations.”

Demand for estate planning strategies is expected to soar in the coming years, as the "Great Wealth Transfer" shifts an estimated $90 trillion across generations. According to data from Northwestern Mutual’s Planning & Progress study, among consumers who expect to receive an inheritance, half (50%) consider it “highly critical” or “critical” to their long-term financial security. SVUL Plus can help parents provide an inheritance to their loved ones, fund permanent care for children with special needs, and help reduce estate tax burdens.

“Generational wealth planning is one of the most impactful things parents can do for their children. As a parent, I know how daunting and delicate these decisions can be – because we only get this one chance to get it right,” said Williams-Kemp. “A comprehensive plan built with flexible financial tools like SVUL Plus can help families reach goals that change as life changes – and provide parents with comfort knowing their children will be protected.”

Many families also have concerns about the impact that taxes may have on future generations. SVUL Plus can help parents reduce their children’s estate tax burden today – no matter how the dynamic tax environment may change in the future.