New Principal Term product released May 1, 2017

Changes were made to the rates and conversion provisions

News Image 05-03-2017

On Monday, May 1, Principal released a new Term product, which gives clients two options to choose from when discussing conversion privileges:
The standard policy provision that provides a policy conversion period, or
The Conversion Extension Rider, that extends the clients conversion period to the full length of the policy period or attained age 70.

New rates are available and approved in all states except CT and NY.
The rates for a standard policy are slightly less than the rates for a policy with the conversion extension rider.

The standard policy conversion privilege allows the insured to convert the term policy based on the earlier conversion period (see below) or attained age 70.
10-Year Term: first seven policy years
15-Year Term: first twelve policy years
20-Year Term: first fifteen policy years
30-Year Term: first twenty policy years

Please refer to the transition guidelines, and the conversion provisions - and feel free to give us a call.



BUA Life Sales
Phone: 800.792.6795