Products January 11, 2002

Principal Expands COLI Portfolio

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

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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.

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