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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.


 

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