The Principal Financial Group has introduced the new Variable Universal Life Income II policy, which is expecetd to address business and personal financial challenges.
Variable Universal Life Income II (VUL Income II) provides death benefit protection, a tax deferred investment and supplemental income all in one place. These components make it well-suited for a range of business needs from executive benefits for key employees to a business succession tool to personal retirement income planning.
Steve Parrish, business insurance director for the Principal Financial Group, said: Business owners are under increasing pressure to manage their business today while looking ahead to prepare for their own retirement. Business and personal challenges continually intersect for these individuals which is why Principal Variable Universal Life Income II creates one large safety net with protection, growth and income all in one affordable product.