Principal Financial Group said Monday that it had introduced an updated line of term life insurance products, including 15- and 30-year term products, an enhanced conversion provision to age 70, and a super-standard risk class.
Principal, a Des Moines insurer, offers five term life options: annually renewable and 10-, 15-, 20-, and 30-year terms. Super-preferred and super-standard ratings are now available, along with a new conversion privilege at the earlier of the level premium period or age 70, without evidence of insurability, to any cash-value policy offered by Principal.
To help people identify benefit needs, Principal also offers the From Here to Security program, a package that includes step-by-step guides and interactive calculators to help clients understand and assess financial protection needs while evaluating coverage options.
The company had $206 billion of assets under management at June 30.
