Permanent life insurance

Choose long-term coverage for long-term benefits.

Permanent life insurance is invaluable for covering major expenses after your death, like your final costs, your family’s income, and estate liquidity. Permanent policies give you the opportunity to grow cash value over time, plus federal-tax-free payment of death benefits.

A permanent life insurance policy is a good fit for:

  • Anyone with a partner, spouse, and/or family who depends on your income
  • Young investors willing to take risks and stay the course for more potential cash value
  • Current term policyholders looking to transition to something more permanent 
  • People in or nearing retirement who want to invest in their family’s future

While permanent policies generally have a higher initial premium than term policies do, a portion of those premiums go toward growing cash value, which could offset costs over time.

Policy types for every budget and risk tolerance

Principal® offers 4 major types of permanent life insurance.

  1. Universal Life Insurance
    • Offers flexible death benefits and flexible premiums
    • Accumulates cash value at a floating interest rate, with a minimum rate guarantee
    • May include secondary guarantees for greater security

  2. Indexed Universal Life Insurance
    • Provides death benefit protection and cash value growth potential with interest rate protection
    • Earns interest based in part on movement of a linked stock market index
    • Gives you options to access tax-deferred cash values without penalty

  3. Variable Universal Life Insurance
    • Provides flexibility with a more aggressive cash value accumulation strategy
    • Gives you options to access tax-deferred cash values without penalty
    • Allows you to convert cash values to annuities for extra income you won’t outlive

  4. Survivorship Insurance
    • Covers two lives, with a death benefit payable upon the death of the second life
    • Can be used in estate planning to leverage certain tax deductions

Make policy payments online

Pay premiums and view information for your life insurance policy online. It’s quick, convenient, and secure. 

Does life insurance seem complicated?

It doesn't have to be, our Life Insurance 101 guide can help you better understand the basics of life insurance.

We're here to help

Visit our insurance help section, or call us at 800-986-3343.

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Life Insurance FAQ

All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. Policy guarantees and benefits are not backed by the broker/dealer and/or insurance agency selling the policy, nor by any of their affiliates, and none of them makes any representations or guarantees regarding the claims-paying ability of the issuing insurance company.

Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Co. Plan administrative services offered by Principal Life. Principal National and Principal Life are members of the Principal Financial Group®, Des Moines, IA 50392.