Power of 3
With Principal, you have a simple, turn-key solution for supplemental retirement income needs. The Power of 3 concept is an attractive combination of services and products that allow you to shorten underwriting process, give options to meet any risk tolerance, and make automatic income simple.
Watch this short video (1:55) to learn more. Then take a look at the tools and expertise available here to help you bolster your client’s retirement portfolio.
When you’re ready, learn more about the products that fit this approach:
- Principal Universal Life Accumulation II℠
- Principal Indexed Universal Life Accumulation℠
- Principal Variable Universal Life Income III℠
- Principal Benefit Variable Universal Life II℠ (New York)
- Principal Variable Universal Life – Business (employer-owned/sponsored)
There are many great prospects in the individual and business markets. Here’s a common profile:
- Need life insurance coverage
- Age 30-55 with at least 10 years until retirement
- In good health
- Income of $100,000 or more
- Limited by, or no access to, a qualified plan
- Seek to diversify tax portfolio
- Prime occupations: attorney, doctor, engineer, architect
- C corporation, S corporation, partnership, LLC, non-governmental tax-exempt
- Want to recruit, reward and retain key employees
- Want to help solve a retirement income problem
- Need to supplement the business owners’ retirement income
Consider these ideas for promoting the value of supplemental retirement income with life insurance.
- Talk to all who can benefit
The Power of 3 isn’t just for your individual clients. Its ease and convenience make it attractive to busy business owners and executives, too.
- Get clients all the coverage they qualify for
When your client qualifies for more Accelerated Underwriting coverage than applied for, consider adding a Principal Term or Principal Universal Life Protector IV℠ policy to offer income potential plus affordable protection.
- Maximize accumulation potential
Over-funding the policy allows more premium dollars to go toward cash value growth. A good rule of thumb to use is $1,000 of premium for every year of the client’s age.
- Set expectations
Show illustrations using multiple interest rate assumptions to help clients understand that a range of outcomes is possible. And it can prevent tough conversations later if performance doesn’t match expectations.
Key materials listed below.
Individual retirement income with Power of 3 flyer (BB12209)
Talk to your clients about individual retirement income with life insurance by sharing the benefits they can expect in a way that aligns with the Power of 3 sales approach.
Key materials listed below.
Power of 3 Video (BB11840)
Learn more about this simple sales idea with a short video that explains the concept to financial professionals who want to power up sales.
Power of 3, in the words of Sherry Flint, Regional VP
Listen to an expert share thoughts on how this supplemental retirement solution approach differentiates you in the marketplace.
Power of 3 Marketing Guide (BB12206)
Understand how to approach clients looking for supplemental retirement income with the advantages of the Power of 3.
Power of 3 Accumulation Sales Idea (BB11800)
Give clients a powerful package of life insurance products, easy automated income and accelerated underwriting.
Winning with the Power of 3 advisor article (BB12271)
Use this article on your website, newsletter or other marketing platform to promote the Power of 3 concept and identify opportunities where life insurance may help with supplemental retirement income.
Accelerated Underwriting Guide (BB11647)
Get details and requirements of the program.
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. For financial professional use only. Not for public distribution.