Effective October 1, 2015 Principal introduced the Universal Life Provider Edge, a solution for low-cost protection. The UL Provider Edge offers low-cost protection that makes it an affordable option to fit within most budgets and an alternative to other protection-focused products, including guaranteed universal life insurance.
It can be ideal for clients who:
- Seek low-cost life insurance with an objective to maximize the length of the coverage.
- Desire flexibility to meet changing needs.
- Appreciate death benefit guarantees.
The target market for the UL Provider Edge is going to be:
- Death benefit protection to ages 90+
- Issue ages 45-65
- Face amount of $1 million and greater
- Better than Standard risk class