Principal Financial Group Inc. will be offering a new Surrender Value Enhancement Rider along with the Principal Variable Universal Life Income II life insurance policy.

Business owners who buy the policy can use the rider to accumulate high cash value early on, to increase the value of the policy on the company balance sheet, according to Principal, Des Moines, Iowa (NYSE:PFG).

Other features of the new Principal VUL policy include:

- A return of cost of insurance rider that will refund cost of insurance charges incurred up to the latter of the 15th policy year or when the insured turns age 60.

- A life paid up rider that can keep a policy from lapsing when the policy is used for supplemental retirement income.

- A death benefit guarantee rider that permits the policyholder to choose a premium level that guarantees the death benefit to age 65, age 85 or age 100.

Principal National Life Insurance Company issues the policy and backs the guarantees in most states.