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Hotline To Aid Group Life Bereaved

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The Principal Financial Group Inc. has set up a telephone hotline to help beneficiaries of its group and voluntary life insurance policies invest policy payouts.[@@]

Through a toll-free phone number, Principal financial professionals will give investment help directly to individuals who have recently lost a loved one covered by a Principal group or voluntary term product.

Principal, Des Moines, Iowa, deposits beneficiaries’ life insurance proceeds into an individual interest draft account, from which the beneficiary can write personal drafts or transfer funds. The hotline will give beneficiaries time to plan, and it may help Principal recapture some of the proceeds by directing beneficiaries to its own investment products, the company says.