How it Works
Provides you with short- or long-term insurance coverage. When your needs change, you can convert your term insurance to a permanent cash-value life insurance policy.
During the coverage period, if you die, this policy pays a death benefit that can help your family maintain their current lifestyle or help your business stay operational.
- Provides affordable protection for growing families with limited finances
- Funds executive benefit programs and helps provide debt protection for growing businesses
- Allows conversion to a permanent, cash value life insurance policy when it's convenient, without providing evidence of good health or insurability as long as the death benefit remains the same
- Provides a death benefit that can be used to keep your business operational or maintain your family's lifestyle
- Provides specific protection for short- or long-term needs that diminish over time, such as business loans or mortgages
- Supplements other coverage to meet high protection needs
- Provides no cash accumulation
- Premiums may increase as the client ages
The Principal Financial Group® offers an array of term products, including:
- 10-Year Term Provides life insurance for a 10-year period at an affordable cost. Starting in the 11th year, premiums increase annually.
- 15-Year Term Provides life insurance protection for a guaranteed level 15-year period at an affordable cost. Starting in the 16th year, premiums increase annually.
- 20-Year Term Provides life insurance coverage for 20 years at an affordable cost. Starting in the 21st year, premiums increase annually.
- 30-Year Term Provides life insurance protection for a guaranteed level 30-year period at an affordable cost. Starting in the 31st year, premiums increase annually.
We also offer a niche one-year term product for short-term needs.
Contact your financial representative today! Don't have one? Locate one through our Office Locations section.
Insurance products from the Principal Financial Group® (The Principal®) are issued by Principal National Life Insurance Company (except in New York) and Principal Life Insurance Company, Des Moines, IA 50392.
Policy Form #SF 683