Lower Cost, More Choice
The Principal Financial Group now offers more options for voluntary income protection.
December 2, 2009 (Des Moines, IA) - As American workers rebuild from the financial crisis, two-thirds (66 percent) expressed they are very concerned about their long-term financial future according to the latest results from the Principal Financial Well-Being IndexSM. To ease financial strain the Principal Financial Group® now offers Voluntary Long-Term Disability Employee Choice for income protection.
Employees now have two choices for long-term disability coverage, a basic and enhanced version. Both provide sufficient protection so living expenses are covered in the event of a long-term disability.
"We recognize employers and employees want choice in cost and level of income protection, especially in this economy. This new program gives choice without sacrificing meaningful protection," said Amy Friedrich, vice president of the Specialty Benefits Division of The Principal®. "The option allows brokers to work with their employer clients on a customized voluntary strategy that best fits the needs of their employees."
Brokers sit down with the employer to create two different long-term disability benefit designs that generate affordable options for their employees. At enrollment, employees select the coverage that best fits their needs and their budget. Because both policies are group voluntary coverage, employees receive a lower group rate and the convenience of paying for their benefits through payroll deduction. To make the process even easier, The Principal provides several choices for voluntary benefit education and enrollment including online enrollment which significantly reduces paperwork and administrative expense for the employer.
For more information about employee benefit programs from The Principal, please contact your Principal Financial Group representative or visit www.principal.com.
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 $280.4 billion in assets under management and serves some 18.6 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 products and services issued by Principal Life Insurance Company.