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Principal Updates Protector UL Policy

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An Iowa life insurer has rolled out a new version of a universal life product.

Principal Financial Group Inc., Des Moines, Iowa, says it is introducing the Principal Universal Life Protector III policy.

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The policy provides guaranteed death benefit protection up to age 121, and the maximum issue age is 85.

Clients can pay for the policy with a lump sum, a series of 10 installment payments, or continuous payments, and premiums are now lower for insureds ages 45 to 70, Principal says.