The Principal Launches Two Universal Life Products

Tue Jan 22, 2013 10:18am EST

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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 change. 

Principal Universal Life Accumulation II provides death benefit protection with
cash value growth potential that can provide supplemental income for personal
needs and help 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-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 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.

The Principal Financial Group®
Erica Jensen, 515-362-0049
jensen.erica@principal.com

Copyright Business Wire 2013