Principal Universal Life Flex IISM
How it Works
Prepare for life's uncertainties with Principal Universal Life (UL) Flex II. Permanent and flexible protection, cash value accumulation, tax advantages and premium flexibility are all wrapped up in one policy. Principal UL Flex II helps you build a foundation for financial protection.
- Affordable Coverage - Principal UL Flex II is designed for those who want affordable death benefit protection with cash value accumulation potential.
- Tax-free survivor benefits - Your beneficiaries receive a federal income tax-free death benefit.
- Tax-free liquidity - You may take policy loans or partial surrenders without creating a taxable event, provided the policy is not a Modified Endowment Contract. Loans or surrenders may be subject to policy charges, surrender charges and transaction fees, and will reduce the cash values and death benefits.
- Tax-deferred accumulation - Your cash value growth is not reportable for taxation, and you don't receive a 1099 form. Since you pay no current taxes on earnings, there is more money to compound. Your money grows faster than if it were taxed every year.
- Flexible premium payments - You may select how often and how much your premium payments will be, with some limitations. You may choose to pay the very minimum premium to provide the protection you need or pay the maximum premium allowed to build cash values. Premiums are flexible, unlike some secondary guarantee products where certain premium amounts have to be paid within a certain time period to keep guarantees.
- Permanent protection - To get long-term coverage, you don't need to go through underwriting again, as often happens with term insurance.
- Annual statements - Keep informed on your policy's performance in meeting your goals.
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- Modified Endowment Contract as defined by The Technical and Miscellaneous Revenue Act (TAMRA), established in 1988. Consult your tax advisor for more information.
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 #SN 77 and SF 914