Upcoming investment option changes for variable annuity and variable life products
Learn about several investment option changes that go into effect in April, May, and June. The changes affect variable annuity and variable life insurance products and include fund additions and name changes. A complete listing of these changes can be found here.
This listing of products will help you identify those affected by the applicable changes:
|
Annuities |
FVA = Flexible Variable Annuity; IPVA = Investment Plus Variable Annuity; FRDM = Freedom Variable Annuity; Pivot = Pivot Series Variable Annuity; PLIS II = Principal Lifetime Income Solutions II |
|
Life insurance |
BVUL = Benefit Variable Universal Life; EVUL = Executive Variable Universal Life; FVLI = Flex Variable Life; PrinFlex = PrinFlex; SVUL = Survivorship Variable Universal Life; VUL Accum = Variable Universal Life Accumulator; VUL Income = Variable Universal Life Income |
Changes effective April 4
|
Fund liquidations |
Products affected |
|
|
Annuity |
Life |
|
|
Goldman Sachs VIT – Goldman Sachs Multi-Strategy Alternatives Portfolio – Service Shares |
Pivot Series |
N/A |
Changes effective May 1
|
Fund mergers |
Products affected |
|
|
Annuity |
Life |
|
|
Principal VCF Blue Chip Account – Class 3 to Principal VCF Blue Chip Account – Class 2 |
FVA, IPVA, Pivot Series |
N/A |
Changes effective June 2
|
Fund additions |
Products affected |
|
|
Annuity |
Life |
|
|
Fidelity VIP Energy Portfolio – Service Class 2 |
N/A |
FVLI, PrinFlex, SVUL, VUL Accum, VUL Accum II, VUL Income, VUL Income II, VUL Income III, VUL Income IV |
|
PIMCO VIT International Bond (U.S. Dollar-Hedged) |
N/A |
EVUL, EVUL II, EVUL III, BVUL, BVUL II |
|
Fund name changes |
Annuity |
Life |
|
Fidelity VIP Asset Manager Portfolio – Service Class 2 to Fidelity VIP Asset Manager 50% Portfolio – Service Class 2 |
N/A |
EVUL, BVUL |
|
Principal VCF U.S. LargeCap Buffer April Account – Class 2 to Principal VCF U.S. LargeCap S&P 500 Index Buffer April Account – Class 2 |
FVA, IPVA, Pivot Series, PLIS II |
N/A |
|
Principal VCF U.S. LargeCap Buffer January Account – Class 2 to Principal VCF U.S. LargeCap S&P 500 Index Buffer January Account – Class 2 |
FVA, IPVA, Pivot Series, PLIS II |
N/A |
|
Principal VCF U.S. LargeCap Buffer July Account – Class 2 to Principal VCF U.S. LargeCap S&P 500 Index Buffer July Account – Class 2 |
FVA, IPVA, Pivot Series, PLIS II |
N/A |
|
Principal VCF U.S. LargeCap Buffer October Account – Class 2 to Principal VCF U.S. LargeCap S&P 500 Index Buffer October Account – Class 2 |
FVA, IPVA, Pivot Series, PLIS II |
N/A |
Applications and illustrations
- Applications for affected annuity products will be updated and available on May 1. These changes are approved in all states except California.
- Variable annuity illustrations for affected products will be updated soon.
- Variable Life supplemental applications will be updated and available on June 2.
- Life illustrations for all affected products will be updated and available on June 2.
VA Exchange offer (effective July 1, 2025)
The Principal® Variable Annuity Exchange Offer (“exchange offer”) and Investment Plus Variable Annuity GMWB Exchange Offer (“GMWB exchange offer”) will no longer be available for new exchanges with applications signed July 1, 2025, and later.
Questions?
Give us a call and one of the teams below can help.
- Annuities: Principal Annuities and Income Solutions: 866-309-1623
- Life: National Sales Desk: 800-654-4278