New Insurance Option Helps Growing Businesses with Planning Needs
Advisors have a one-stop shop to help clients plan for business needs
As the economy grows, so do the business planning needs of the more than 28 million small to medium-sized businesses1. Owners are looking to their advisor to help protect the value of their business, retain key employees and implement tax advantaged retirement benefits. Advisors who can provide business owners with a complete solution have an opportunity to grow their practice.
The Principal Financial Group® announces a new flexible and comprehensive life insurance option designed to help advisors solve those issues for business owners – Principal Variable Universal Life – BusinessSM.
“Advisors help business clients with a variety of challenges and need solutions with flexible features, efficient funding and effective accumulation,” said Greg Linde, vice president of individual life insurance for The Principal®. “However, they may not have the time to assemble the necessary plan design, products and administrative services for the business market. Our market experience and product solutions give advisors a complete, packaged solution with plan administration, case design support and products that help make these business offerings a one-stop shop.”
The Principal Variable Universal Life – Business is a life insurance product designed to fund business planning solutions such as executive benefits, exit planning and business protection. The product offers unique benefits to growing businesses that typically are available only to large organizations including: high early cash values, access to more than 100 investment options and institutional pricing. It also grants advisors exclusive access to our business market attorneys, CPAs and case design specialists, business specific underwriting programs, and complimentary administrative services.
“For over 40 years, we have been committed to providing advisors with solutions to effectively serve business owners,” said Linde. “Our exceptional service and support before, during and after the sale help advisors meet the ever-changing needs of growing businesses.”
About the Principal Financial Group
The Principal Financial Group® (The Principal®) is a global investment management leader offering 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 $495.5 billion in assets under management and serves some 19.2 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.
1 Source: U.S. Small Business Administration, Office of Advocacy, Frequently Asked Questions, March 2014. http://www.sba.gov/sites/default/files/FAQ_March_2014_0.pdf