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Financial Planning > Behavioral Finance

The Principal Financial Group Introduces Annual Financial Checkup

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Americans’ increasingly hectic lives leave many consumers with little time to develop a clear plan for their financial future. Recognizing the need for proactive financial planning, the Principal Financial Group, Des Moines, Iowa, has developed a comprehensive annual checkup called Financial Security Review.

“At a time when technology should be making things easier, it actually feels like life has never been busier. As life speeds up, personal needs like evaluating insurance protection and preparing for retirement, take a back seat,” said Jerry Patterson, vice president and chief marketing officer for the Principal Financial Group. “The Principal Financial Security Review was designed to keep our clients on track for a secure financial future while letting financial professionals show their value as a trusted resource. Going well beyond simply reviewing policies, the program uncovers new financial needs in the fast-paced lives of our customers.”

Financial Security Review pulls together information from a variety of sources into one comprehensive, yet simple package of tools for financial professionals. In the kit, financial professionals have everything they need to initiate and complete a review of existing products and determine financial needs. Financial Strategies and From Here to SecuritySM are the analysis tools that calculate where clients are today and how new and existing products may fit with their future needs. A variety of consumer materials also show how they can get to where they want to go while maintaining a healthy financial future.

“Financial professionals who aren’t taking advantage of this new program aren’t capitalizing on perhaps one of the best opportunities for new sales,” noted Patterson. “Financial needs change from year to year, so financial professionals must be ready. I encourage all financial professionals to begin scheduling annual checkups now.”

About From Here to Security

To help identify overall benefit needs, The Principal offers program to educate consumers on individual life and disability insurance and to help achieve financial security – From Here to Security. The program offers consumer education booklets and CDs with easy-to-read guides to understanding life and disability insurance. The materials contain definitions, examples, statistics and a personal needs analysis worksheet. Insurance calculators allow customers to run “what if” scenarios to determine the level of coverage appropriate for their individual situation.

The Financial Security Review kit is available through a Principal Financial Group representative.