|[January 22, 2013]
The Principal Launches Two Universal Life Products
DES MOINES, Iowa --(Business Wire)--
Financial professionals now are able to offer more flexibility and
choice to their customers. The Principal
Financial Group® has enhanced its universal
life product offering with the introduction of Principal Universal
Life Flex IISM and Principal Universal Life Accumulation IISM
that are designed to help meet the protection needs of individuals
and small-to medium-sized business owners.
"In these uncertain financial times, a lack of appropriate life
insurance coverage puts families and businesses at greater risk," said
Nick Cecere, vice president, U.S. Insurance Solutions Distribution for
The Principal®. "Individuals and small businesses need access
to flexible and affordable life insurance products that can change as
their needs change over time."
Principal Universal Life Flex II features a low-cost design, flexible
premium payment structure and adjustable death benefit coverage. This
combination makes it a highly versatile product that can grow as needs
Principal Universal Life Accumulation II provides death benefit
protection with cash value growth potential that can provide
supplemental income for personal needs and hlp owners protect their
businesses with solutions such as Executive Bonus and Key Person plans.
Principal Universal Life Flex II and Universal Life Accumulation II both
feature a 10-year no lapse guarantee, super standard underwriting class,
choice of three death benefit options, over-loan protection through a
Life Paid (News - Alert)-Up rider, automated income withdrawal options and consistent,
non-volatile cash accumulation potential.
A new chronic illness rider is also available with both products
offering added flexibility. As many as one in four Americans have
multiple chronic conditions, leaving many concerned about the financial
impact of illness. This rider allows a policyholder diagnosed as
chronically ill to accelerate a portion of the policy's death benefits.
The funds accessed using this living benefit can be used to help pay
daily living expenses or reduce debt.
"The concept is simple. Offer current assumption cash accumulation and
low-cost protection coupled with attractive features that offer both
living benefits and death benefits," Cecere said. "Financial
professionals can help their customers meet their financial commitments
now and provide life insurance protection for the future."
And for more news and insights from The Principal, connect with us on
Twitter (News - Alert) at http://twitter.com/ThePrincipal.
About the Principal Financial Group
The Principal Financial
Group® (The Principal ®)1 is a global
investment management leader offering retirement services, insurance
solutions and asset management. The Principal offers businesses,
individuals and institutional clients a wide range of financial products
and services through its diverse family of companies. Founded in 1879
and a member of the FORTUNE 500®, the Principal Financial
Group has $392.2 billion in assets under management2 and
serves some 18.3 million customers worldwide from offices in Asia,
Australia, Europe, Latin America and the United States. Principal
Financial Group, Inc. is traded on the New York Stock Exchange under the
ticker symbol PFG. For more information, visit www.principal.com.
1 "The Principal Financial Group" and "The Principal" are
registered service marks of Principal Financial Services, Inc., a member
of the Principal Financial Group.
2 As of September 30, 2012.
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