Principal Expands COLI Portfolio

November 1, 2002 ( - Principal Financial Group has introduced Benefit Variable Universal Life (Benefit VUL) as a component of their Corporate Owned Life Insurance (COLI) portfolio.

Benefit VUL is a financing vehicle for smaller company nonqualified deferred compensation programs, according to Principal.   It contains all of the traditional benefits of life insurance, including tax-deferred earnings, tax-free withdrawals, and loans for the life of the policy.

In addition, Benefit VUL offers a wide array of investment options similar to those found in qualified retirement plans. 

Business owners who finance their nonqualified plans with Benefit VUL may choose from 73 investment divisions from 26 investment advisors, including:

  • American Century,
  • Fidelity,
  • Janus,
  • MFS,
  • Putnam and
  • Vanguard.