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Reminder about flexing premium withdrawal dates

Policyowners may request to flex the monthly pre-authorized premium withdrawal date for their policies.  However, the products listed below don’t allow flex withdrawal dates:

  • UL2 with Lapse Protection Rider
  • UL4- UL Protector
  • UL6- UL Protector II
  • UL7 - UL Protector III
  • UL9- Universal Protector IV
  • SULP-Survivorship Universal Life Protector
  • SULP2- Survivorship Universal Life Protector II
  • ULF2-Universal Life Flex II
  • IULF- Indexed Universal Life Flex
  • IULA- Indexed Universal Life Accumulation
  • Term 2006
  • Term Connector
  • Term 2014
  • Term 2017

For the non-Term products listed, flex withdrawal dates are not allowed because changes in the frequency and/or timing of payments may impact the policy’s length of coverage.  For the Term products, flex withdrawal dates are not allowed due to the Grace Period.

For Variable Universal Life and non-Protector Universal Life, it’s best to check the net accumulated value in the policy prior to requesting a flex withdrawal date as minimally funded policies may enter a Grace Period if the flex date is after the monthly deduction date.

For financial professional use only. Not for distribution to the public.

Guarantees are based on the claims-paying ability of the issuing insurance company.

Withdrawals and loans may decrease the amount of death benefit and cash accumulation value.

Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Co. Plan administrative services offered by Principal Life. Securities offered through Principal Securities, Inc., 800-247-1737, Member SIPC and/or independent broker/dealers. Principal National, Principal Life, and Principal Securities are members of the Principal Financial Group®, Des Moines, IA 50392.

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