Principal life insurance provides an excellent cover for both the businesses and the individuals. These providers also offers disability, annuities, vision and dental insurance and many medical and drug plans. The products are available worldwide through a vast network of brokers, subsidiaries and agents. It offers its clients with term insurance, survivorship life insurance and employer disability insurance.
Types Of Principal Life Insurance
- Term life insurance- This policy would protect an individual for a period ranging from 12 months to over 20 years. It also offers tax free death benefits and renewable conversion options. These options would also not need any re-application.
- Survivorship life insurance- It covers two lives. This is an estate planning tool in which the benefits are payable after the death of the second person. Tax deductions are also available to the spouse until he or she dies.
- Employer Disability Insurance- This policy offers flexible alternatives to cover the needs of the company. The long term benefits would include work incentives, assistance in site accommodation for workers who are disabled and survivor benefits. There are some additional options also available like return to work incentive and child care benefits.
- Long term disability program- A smaller company with 10 or more employees is eligible for this program. This policy is tailored to protect employees from all financial obligations. This plan does not require a total disability of the applicant and the return to work incentive is available. There are other programs available as well which are wholly paid for by the employee himself.
A plan is usually tax free and can be used to complete a retirement plan, pay off mortgages, create lifetime income and provide funds for childcare and education. The policies which accumulate cash can provide tax advantaged money to help meet any sort of emergency needs. Principal life insurance provides a step by step booklet, and an interactive calculator with the financial representative. This is to help the individual identify as to what he is looking for in terms of the amount and the specific types of policies available.
Do compare the rates to insure that your have chosen the correct policy to achieve your financial goals. The universal plan delivers flexible death benefits and premiums. The variable policy combines the flexibility of the universal policy and the performance of the other accounts to focus on accumulating cash values. Ideally Principal life indemnity provides all its customers with insurability at a low cost. These policies are often renewable after the policy term and can also be converted to a permanent insurance policy with the same company, if need be.
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