New GI Term product approved in Florida, North Dakota, and South Carolina
01/31/2023
The new Principal® 10-year and 20-year Guaranteed Issue (GI Term II) product is available in South Carolina effective February 1, 2023, and in Florida and North Dakota effective February 15, 2023.
GI Term II is a new, standalone product designed to meet a variety of business needs. When using life insurance as part of a key employee benefit, participants can appreciate being insured without worrying about medical exams and health questions.
GI Term II highlights
- Face increase flexibility. Salary Increase Rider or contractually through a job level change
- Two risk classes. Standard and Preferred
- Convertibility. Flexibility to convert to permanent, cash value product later
- Fund multi-life business cases. Use with groups of 10 or more to fund business solutions such as key person, business succession, and key employee benefit plans.
Resources
Transition guidelines | GI Term II website
Questions?
Call the National Sales Desk 800-654-4278.
For financial professional/institutional use only.
Insurance products issued by Principal National Life Insurance Co. (except in NY), Principal Life Insurance Company®, and the companies available through the Preferred Product Network, Inc., Plan administrative services provided by Principal Life. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392.Insurance products and plan administrative services provided through Principal Life Insurance Company®, a member of the Principal Financial Group®, Des Moines, IA 50392.
Guarantees are based on the claims-paying ability of Principal Life Insurance Company.