The insurance product provides death benefit protection, a tax-deferred investment, and supplemental income, according to a news release. The company said these components make it well-suited for a wide range of business needs, such as executive benefits for key employees, business succession, and personal retirement income planning.
“Business owners are under increasing pressure to manage their business today while looking ahead to prepare for their own retirement,’ said Steve Parrish, business insurance director for the Principal Financial Group. “Business and personal challenges continually intersect for these individuals, which is why Principal Variable Universal Life Income II creates one large safety net with protection, growth, and income all in one affordable product.’
More information is available through your Principal representative or atwww.principal.com.