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Principal Updates Voluntary Term Product

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NU Online News Service, Sept. 27, 2004, 2:45 p.m. EDT

The Principal Financial Group Inc., Des Moines, Iowa, is updating its voluntary term life program.[@@]

Principal tried to make the new voluntary term program as flexible as possible, the company says.

Options include a variety of choices for worker, spouse and child coverage amounts, Principal says.

Employees who leave their employers can keep the coverage in force till age 75, and an accelerated death benefit feature is available at no additional premium cost. The accelerated death benefit feature can pay terminally ill insureds up to 75% of their premium benefits before they die.

Employers also can offer an optional accidental death and dismemberment benefit.