The Principal Financial Group has introduced new 15- and 30-year life insurance policies to its lineup of term products.

The new products afford lower cost and more flexible options for financial professionals to offer clients, says Deanna Strable, a senior vice president of The Principal, Des Moines, Iowa.

With the two new products, the carrier now offers five different term options, including annually renewable, 10-year and 20-year.

The company also introduced new “super preferred and super standard” ratings for its life policies, along with a new privilege to convert term insurance to a cash-value policy at the earlier of the level premium period or age 70, without the need to show evidence of insurability.

The company has also launched a new “From Here to Security” information package for consumers that includes guides and interactive calculators to help clients determine financial protection needs.