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Principal Universal Life Notice – Protector IV Re-price coming in August
We appreciate the trust you place in us by offering our products and services to your valued clients. That’s why we regularly review our products to ensure each fits the needs of the market, offers value for you and your clients and aligns with our product strategy. And occasionally, we must adjust pricing to maintain a product’s long-term sustainability.
What you need to know about the re-price
Effective August 28, 2017, we’ll be updating Principal Universal Life Protector IV pricing for new-issue policies. Taking this action helps ensure the ongoing viability of the product and allows us to continue to deliver on the commitments we have to current policyholders.
- Rates will increase approximately 4 percent, with some rates higher and some lower than this overall average. By premium-paying pattern, average increases are:
- Approximately 4-5 percent for level pay
- Approximately 2 percent for single pay.
- Applications must be received in good order in our home office by August 27 to receive current (5/2013) rates. Applications received after this date will receive new (8/2017) rates. View full transition guidelines.
- Rates will be effective in all states and the District of Columbia.
- You’ll be able to quote the new rates on August 28, 2017 from your normal illustration quoting platform. If you have specific cases you’re working on, you may request a quote from your Sales Desk representative beginning August 7, 2017.
For more information contact us by email or call (631) 730-8262