DES MOINES, Iowa--(BUSINESS WIRE)--Recognizing that people need more flexibility and choices as they look to grow and protect savings, Principal Financial Group® has enhanced its variable annuity line-up. Principal Lifetime Income Solutions II Variable AnnuitySM and Principal Pivot Series Variable AnnuitySM are designed to meet the changing needs of today’s savers.
“We know each saver has unique needs when it comes to making sure their money helps them live their best lives – that includes flexibility when needs change,” said Sara Wiener, assistant vice president of annuities at Principal®. “Whether they’re looking to grow their nest egg, create a legacy for loved ones or just have peace of mind that they won’t outlive their savings, we have options that can be tailored to fit most needs.”
Principal Lifetime Income Solutions II is a new, income-focused variable annuity. Individuals can choose the level of benefits and investment options that make the most sense to them. It was designed for people who want to create guaranteed income that will last the rest of their lives, and who are worried about how market volatility could affect their retirement savings.
Growing and protecting savings
The enhanced Principal Pivot Series is designed for those approaching retirement who want to diversify their assets, have some liquidity and be able to make changes when and if life requires it. Pivot offers accumulation, growth potential and protection from some downside market risk. In addition to accumulation, Principal Pivot Series offers growth potential with tax deferral, flexibility and 85 investment options.
“Research shows that people with annuities are less likely to outlive their money after retirement,” added Wiener. “That is powerful peace of mind, and why we’re committed to the continuous improvement of our annuity products. We want individuals be confident of a secure retirement.”
Principal helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives. Our employees are passionate about helping clients of all income and portfolio sizes achieve their goals – offering innovative ideas, investment expertise and real-life solutions to make financial progress possible. To find out more, visit us at principal.com.
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1 Guarantees are based on the claims paying ability of Principal Life Insurance Company