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Income Annuities (SPIA)

An Income Annuity from Principal Life Insurance Company provides a secure and guaranteed way to turn the money you set aside for retirement into retirement income. You contribute a single lump sum of money and, in return, you're guaranteed a steady stream of income payments for the rest of your life, or for a specific period of your choosing. You may select from several income annuity payout options that can be customized to meet your needs. An income annuity offers:

  • Security - The Income Annuity is immune to market fluctuations which can put your retirement plans in jeopardy.
  • Flexibility - You choose to receive payments as frequently as needed to best meet your situation.
  • Stability - Choosing a life option assures you income that you can't outlive.
  • Inflation Protection - An optional feature that gives you the opportunity to increase the amount of your payments each year.
  • Access to Money – With the Liquidity Rider[1], you can take a one time withdrawal should you need to.
  • Choice - You can choose from several different income payment options for your Income Annuity from Principal Life. Some of the most common include:
    • Fixed period - You tell us how many years you want to receive income payments and we will tell you the amount of each income payment.
    • Fixed amount - You tell us how much you want your income payment to be and we will calculate how long the payments last.
    • Life - With a life payout option you will receive payments for the remainder of your life. The risk with this option is that if you die before receiving the full accumulated value of your investment, you could lose some of the value of your investment.
    • Life with period certain - With this option equal payments are made to you throughout your lifetime or to your beneficiary for a guaranteed minimum period of time.
    • Life with refund - Under this option you elect to receive a life income; but if you don't live long enough to receive all your premiums back, it will be refunded to your named beneficiary.
    • Joint and survivorship - This payout option provides for payments over the lives of two individuals and can also be combined with period certain options.
[1]
Not available in all states. Not available for all payout options.

Guarantees based on the claims paying ability of Principal Life Insurance Company.

Contract rider descriptions are not intended to cover all restrictions or limitations. Refer to the rider for full details.

Approval#: t10062302ep
Policy Form#: SF779/SF810

Investment and insurance products are: not a deposit · not FDIC Insured ·
not insured by any federal government agency · not a bank guarantee · and may lose value.

Have a question? Call us at 1.800.986.3343

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