The Principal Broadens Spectrum of Customer Solutions with Enhanced Disability Income Insurance Product.Business Editors DES MOINES Des Moines, city, United States Des Moines (dĭ moin`), city (1990 pop. 193,187), state capital and seat of Polk co., S central Iowa, at the junction of the Des Moines and Raccoon rivers; inc. , Iowa--(BUSINESS WIRE)--June 1, 2004 New enhancements expand premium discounts to include associations, attorneys and pharmacists The Principal Financial Group,(R) the nation's 401(k) leader and premier provider of employee benefits, introduces a new individual disability income (DI) insurance product to help consumers protect their most valuable asset - their ability to work and earn an income. The new disability income insurance product from The Principal(R)(1) is the latest enhancement to the company's comprehensive disability insurance portfolio, and complements additional underwriting guideline enhancements. Highlights include: -- New benefit periods to ages 67 and 70 -- A 10 percent premium discount to qualified associations (subject to state approval) -- A 10 percent select occupation premium discount that now includes attorneys and pharmacists -- Enhanced occupation classes -- Increased maximum issue and participation limits for DI and overhead expense insurance Statistics from the Department of Labor show that roughly 73 percent of income earners do not have any disability coverage, yet the financial consequences of a disability can be catastrophic -- reinforcing the need for consumers to have a solid income protection plan in place. "With our extended benefit periods to ages 67 and 70, we can help clients protect their income beyond the traditional age 65 benefit period to better tie to extended retirement ages. And with enhanced occupation classes, our select occupation discount and new association program, we can enhance our competitiveness to additional markets," said Deanna Strable, vice president of the Specialty Benefits Division for the Principal Financial Group. "These enhancements, plus the company's outstanding customer service reputation, are a winning combination in the individual disability insurance market." About the Principal Financial Group The Principal Financial Group(R) (The Principal (R))(2) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and mortgage banking through its diverse family of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. companies. More employers choose the Principal Financial Group for their 401(k) plans than any other bank, mutual fund, or insurance company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. (3) . A member of the Fortune 500, the Principal Financial Group has $149.8 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. (4) and serves some 15.6 million customers worldwide from offices in Asia, Australia, Europe, Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors PFG PFG Principal Financial Group PFG Performance Food Group (Richmond, VA) PFG Pinnacle Financial Group PFG Plasma Flood Gun PFG Planning for Growth PFG Pasty Faced Geek PFG Perfluoroguanidine . For more information, visit www.principal.com. Information included in this announcement is a general summary only. Additional guidelines may apply. (1) From Principal Life Insurance Company, member of The Principal (2) "The Principal Financial Group(R)" and "The Principal(R)" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group. (3) CFO See Chief Financial Officer. Magazine, April/May 2003, based on total plans served in 2002 by insurance companies, banks and investment firms. (4) As of March 31, 2004 |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion