Principal Life Insurance: Why It’s a Great Choice for Your Future

As we go through life, it’s important to be prepared for the unexpected. One of the best ways to protect ourselves and our loved ones is by investing in life insurance. One company that stands out in this industry is Principal Life Insurance. In this article, we’ll go over what Principal Life Insurance is, why it’s a great choice for your future, and answer some frequently asked questions.

What is Principal Life Insurance?

Principal Life Insurance is a subsidiary of Principal Financial Group, a global financial company that specializes in retirement, asset management, and insurance solutions. Founded in 1879, Principal Financial Group is headquartered in Des Moines, Iowa, and is a trusted name in the financial industry.

Principal Life Insurance offers a variety of insurance products, including term life insurance, universal life insurance, indexed universal life insurance, and survivorship life insurance. They also offer disability income insurance and annuities.

One of the unique features of Principal Life Insurance is their ability to customize policies to fit individual needs. They offer a range of riders and optional benefits that can be added to policies to provide extra protection or flexibility.

Why Choose Principal Life Insurance?

Financial Strength and Stability

One of the main reasons to choose Principal Life Insurance is their financial strength and stability. They have consistently received high ratings from independent rating agencies, such as A.M. Best, Moody’s, and Standard & Poor’s. These ratings indicate that Principal Life Insurance is financially strong and capable of meeting their obligations to policyholders, even during difficult economic times.

Flexible and Customizable Policies

Principal Life Insurance understands that everyone’s needs are different, which is why they offer flexible and customizable policies. They have a wide range of coverage options, riders, and optional benefits that can be added to policies to fit individual needs. This means that you can create a policy that provides the protection you need, without paying for coverage you don’t need.

Competitive Rates

Another reason to choose Principal Life Insurance is their competitive rates. They offer policies at rates that are often lower than their competitors. This means that you can get the protection you need at a price that fits your budget.

Excellent Customer Service

Principal Life Insurance is known for their excellent customer service. They have a team of knowledgeable and friendly representatives who are available to help with any questions or concerns you may have. They also offer online tools and resources that make it easy to manage your policy and access important information.

FAQ

What is term life insurance?

Term life insurance is a type of life insurance that provides coverage for a specific period of time, typically 10, 20, or 30 years. If the policyholder dies during the term of the policy, the death benefit is paid out to the beneficiary. If the policy expires and the policyholder is still alive, there is no payout.

What is universal life insurance?

Universal life insurance is a type of permanent life insurance that provides coverage for the life of the policyholder. It also has a savings component that earns interest, which can be used to pay premiums or increase the death benefit. Universal life insurance policies are flexible and can be adjusted to fit changing needs over time.

What is indexed universal life insurance?

Indexed universal life insurance is a type of universal life insurance that allows policyholders to earn interest based on the performance of a stock market index, such as the S&P 500. This type of policy offers the potential for higher returns than traditional universal life insurance, but also carries more risk.

What is survivorship life insurance?

Survivorship life insurance is a type of life insurance that covers two people, typically spouses. The death benefit is paid out after both policyholders have died. This type of policy is often used for estate planning purposes.

What is a rider?

A rider is an optional benefit that can be added to an insurance policy to provide extra protection or flexibility. Riders can vary depending on the type of policy and the insurance company. Some common riders include accidental death and dismemberment coverage, waiver of premium, and accelerated death benefit.

Conclusion

Investing in life insurance is an important step in protecting yourself and your loved ones. Principal Life Insurance offers a range of insurance products that are flexible, customizable, and competitively priced. With their strong financial ratings and excellent customer service, they are a great choice for anyone looking to secure their future.