In a press release, the company says beneficiaries can speak on the hotline with an experienced financial professional who can answer questions and help develop an overall investment strategy.
Currently, when life insurance claims are processed, PFG deposits proceeds into and interest draft account from which the beneficiary can write personal drafts, transfer funds, or purchase other financial products through PFG. Greg Bavender, director for group life products at PFG, says that, while the interest draft accounts are a good short-term investment, beneficiaries need different investment options.
He said in the release that the financial services hotline will help beneficiaries to secure their financial future. All current and new beneficiaries of group and individual life insurance can use the service immediately.
The Principal Financial Group offers businesses, individuals, and institutional clients a range of financial products and services, including retirement and investment services, life and health insurance, and banking. The company’s Web site is www.principal.com .