Principal Variable Universal Life Income
How It Works
Principal Variable Universal Life (VUL) IncomeSM life insurance is an effective way to help you protect your family and work toward achieving your retirement goals. Unlike other life insurance products, Principal VUL Income is specifically designed to provide you with the death benefit1 protection you need and serve as a tax-favorable product to enhance your supplemental retirement income.
Highlights
- Survivor Benefits - Your beneficiaries receive a federal-income-tax-free death benefit.
- Tax-Deferred Growth - Principal VUL Income policies accumulate long-term wealth on a tax-deferred basis. As your wealth builds, you do not incur any taxes or receive a 1099 form. Since you pay no current taxes on earnings your money grows faster than if it were taxed every year.
- Withdrawals - The new Automated Income Distribution feature gives you easy access to the enhanced accumulation value of your Principal VUL Income policy. With the Return of Cost of Insurance rider at the later of your age 60-policy anniversary or your 20th policy year we will refund all Cost of Insurance (COI) charges incurred up to that point.
- Ultimate Policy Control - In addition to the tax advantages, you control your policy and the benefits it provides, such as:
- Increasing or decreasing the death benefit as your needs change2
- Changing the premium amount and the timing of your payments3
- Determining which investment options will help you work toward your financial goals. Keep in mind that investment return and principal will fluctuate so that shares, when redeemed, may be worth more or less than their original cost.
Before investing in variable life insurance, investors should carefully consider the investment objectives, risks, charges and expenses of the policy. This and other information is contained in the free prospectus, which can be obtained from your local representative. Please read the prospectus carefully before investing.
View the prospectus for Principal Variable Universal Life Income(PDF: 5 MB).
Contact your financial representative
today! Don't have one? Locate one through our Office
Locations section.
1 In exchange for the death benefit, life insurance products charge fees such as mortality and expense risk charges and surrender fees. For more detailed charge information, please see Principal Variable Universal Life Income Charges (LV 197).
2 After policy issue, face amount increases may be subject to additional underwriting.
3 You may increase, decrease or skip premium payments provided you have enough policy value within your policy to cover the cost of insurance and other policy charges.
Policy Form #SF755; Rider Form #SF759
Approval #698492006
