The Principal Debuts New Product

June 11, 2002 ( - The Principal Financial Group introduced the Principal Executive Variable Universal Life (VUL).

The major feature of the new product is that it allows business owners and their key executives to save for retirement, while offsetting the owners’ liability in financing nonqualified retirement benefits.

The Executive VUL features options similar to those of qualified plans and features 73 investment choices managed by 27 investment advisors. Also, because the product is life insurance based, business owners can also take advantage of tax deferred growth and tax-free withdrawals and loans for the life of the policy.