NU Online News Service, June 5, 3:43 p.m. – Principal Financial Group Inc., Des Moines, Iowa, has introduced a new universal life insurance product, the Principal Universal Life policy.
Principal will sell the policy to customers as old as 90, and it will offer a "super preferred" underwriting class for healthy nonsmokers between the ages of 20 to 80.
The policy gives purchasers a choice of a five-year, no-lapse guarantee; a 20-year death benefit guarantee; or a death benefit guarantee to age 100.
Customers can also buy an extended coverage rider, to keep the policy from paying out its assets when the insured reaches age 100.
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