Principal Financial Group has launched two universal life products, namely Principal Universal Life Flex II and Principal Universal Life Accumulation II, to help meet the protection needs of individuals and small-to medium-sized business owners.
The Principal US Insurance Solutions Distribution vice president Nick Cecere said that the new products enable financial professionals to assist their customers to meet current financial commitments and provide future life insurance protection.
"Offer current assumption cash accumulation and low-cost protection coupled with attractive features that offer both living benefits and death benefits," Cecere added.
Featuring low-cost design and flexible premium payment structure, the Principal Universal Life Flex II provides adjustable death benefit coverage.
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.