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Products June 1, 2004
Principal Unveils Disability Offering
June 1, 2004 (PLANSPONSOR.com) - The Principal
Financial Group announced a new individual disability income
product.
Reported by Fred Schneyer
According to a Principal news release, product highlights include:
- new benefit periods to ages 67 and 70
- a 10% premium discount to qualified associations (subject to state approval)
- a 10% select occupation premium discount that now includes attorneys and pharmacists
- enhanced occupation classes
- increased maximum issue and participation limits for disability income and overhead expense insurance.
“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, in the release.