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Principal Adds UL Policy

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NU Online News Service, July 1, 2003, 4:47 p.m. EDT – The Principal Financial Group Inc., Des Moines, Iowa, has introduced Principal Universal Life 3, a universal life insurance policy.

Principal is promoting the policy as a vehicle for funding buy-sell arrangements.

Optional riders include a child term rider, which provides temporary insurance protection for children ages 14 days to 25 years without the need for a separate policy; a cost-of-living rider, which increases the face amount every three years up to age 55 without additional medical underwriting; and a salary increase rider, which increases policy benefits as a policyowner’s salary increases.