Leaving More Than a Legacy
Evaluate financial protection during Life Insurance Awareness Month in September
September 9, 2009 (Des Moines, IA) — For most, life insurance offers a way to provide financial protection and possibly a legacy for heirs, but often beneficiaries are left with emotional and financial challenges after the loss of a loved one. To help address these concerns, group life insurance from the Principal Financial Group® now offers a wide range of beneficiary services including access to grief support, financial assistance and will preparation services.
Through a partnership with ARAG®, spouse and dependent beneficiaries of group life insurance from The Principal® receive free three-month online access to will preparation services following an employee's death. These individuals can use the services to create their own personal standard will, living will, healthcare power of attorney and financial power of attorney.
"Those left behind face a myriad of life-changing decisions while at the same time they are coping with the loss," said Theresa McConeghey, assistant vice president of group life insurance for The Principal. "Through personalized customer care like our beneficiary support services, we help individuals make smart and informed choices for their financial future."
In addition to the will preparation services, beneficiary support services also help deal with the emotional and financial toll of losing a loved one. Grief Support Services, provided by Magellan Health Services, are available 24/7 through a toll-free number where beneficiaries can connect with licensed professionals who provide comfort, offer confidential guidance and suggest coping strategies. Financial Services, provided by experienced financial professionals from The Principal, are available to help guide beneficiaries towards an overall investment strategy through a variety of products and services.
"Life insurance is one of the most important pieces of a comprehensive financial strategy. While there are no guarantees in life, a proper plan can help make life a little more predictable," said McConeghey.
Life Insurance Awareness Month this September
Throughout September, The Principal urges consumers to make time to learn more about their employer-sponsored life insurance coverage and to review individual coverage options. Life Insurance Awareness Month is coordinated by the nonprofit Life and Health Insurance Foundation for Education (LIFE).
About Magellan Health Services
Headquartered in Avon, Conn., Magellan Health Services, Inc. is a leading specialty health care management organization whose customers include health plans, employers, and government agencies nationwide. Magellan's behavioral health and employee assistance/work-life services cover more than 40 million individuals. The company collaborates with health care purchasers to offer comprehensive, integrated programs that address behavioral health needs across the entire continuum of care – from helping improve lifestyle choices, to managing chronic mental illnesses, to catastrophic case management. In addition to behavioral health, the company operates in the areas of radiology management, specialty pharmacy, and public sector pharmacy benefits administration.
ARAG (www.ARAGgroup.com), a global leader of legal insurance, has an international premium base of nearly $2 billion and protects 15 million individuals and their families – worldwide. ARAG offers comprehensive legal plans that provide a smart and trusted path for resolving legal issues. This enables people to protect their families, finances and futures.
About the Principal Financial Group
The Principal Financial Group® (The Principal ®) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $257.7 billion in assets under management and serves some 18.8 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
Insurance provided by Principal Life Insurance Company. Beneficiary services are not a part of the insurance contract and may be changed or discontinued at any time. The use of the services provided by ARAG Services, LLC should not be considered as a substitute for consultation with an attorney. Principal Life Insurance Company is not responsible for any loss, injury, claim, liability, or damages related to services offered by third party vendors. ARAG and Magellan Health Services are not members of the Principal Financial Group.