New Flexible Approach to a Lifetime Retirement Paycheck from The Principal
Principal Deferred Income Annuity locks in future retirement income, potentially higher return
April 16, 2013 (Des Moines, Iowa) — With 10,000 boomers turning 65 every day, financial professionals are looking for a range of options to help clients turn their retirement savings into guaranteed lifetime income. The Principal Financial Group® announces the Principal Deferred Income Annuity for retirees who want to lock in a guaranteed income stream  but don't need to start receiving it until later.
"The boomers are redefining retirement. Many need options for guaranteeing retirement income that match their unique circumstances," said Jerry Patterson, senior vice president of retirement income strategy at The Principal. "The Principal Deferred Income Annuity is one more important tool for financial professionals as they help clients transition from receiving a regular paycheck during their working years to creating a paycheck from their retirement savings guaranteed to last for the rest of their lives."
The Principal Deferred Income Annuity offers a flexible premium and the option to delay the start of income payments, anywhere from 13 months to 30 years. Depending on the length of the deferral period, the income payments could potentially factor in a higher rate of return than other fixed interest rate products available today.
The Principal Deferred Income Annuity is part of a broad portfolio of protection and growth-oriented annuities and mutual funds designed to help financial professionals address specific retirement income needs. It is the latest addition to an expanding retirement income platform of education, tools and resources.
"We are focused on equipping financial professionals with the options and tools to help clients strike the balance between the need for guarantees and certainty and the need for continued growth," said Patterson. "The Principal has been helping people transition into retirement and manage income for more than 70 years. The Principal Deferred Income Annuity is the first of what will continue to be ongoing enhancements to retirement income resources for financial professionals to help grow their businesses. Watch for more tools in the coming weeks and months."
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About the Principal Financial Group
The Principal Financial Group® (The Principal ®) is a global investment management leader including retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies. Founded in 1879 and a member of the FORTUNE 500®, the Principal Financial Group has $364.1 billion in assets under management and serves some 17.3 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.
- Pew Research Center, 2010
- Guarantees are based on the claims paying ability of Principal Life Insurance Compan
- "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group
- As of March 31, 2012.