Principal Universal Life Flex III – Updated UL Product Available

Effective Monday, April 9, 2018 – transition guidelines for Principal Universal Life Flex II to the Principal Universal Life Flex III

We’re excited to announce that on April 9, 2018, we’ll be introducing the new Universal Life Flex III (UL Flex III). This product will replace Universal Life Flex II (UL Flex II) in approved states.

UL Flex III uses the new 2017 CSO rates, and like UL Flex II, it offers cost-effective coverage and great features, including sold cash-value accumulation.


April 9, 2018

  • UL Flex III is available to illustrate and sell in approved states.
  • UL Flex III will automatically be issued, unless a specific request for UL Flex II is made on the application, illustration or transmittal.
  • All UL Flex applications received in the home office after May 9, 2018 will automatically be issued as UL Flex III policies.


Cases pending on April 9, 2018

  • Applications in underwriting will be issued as UL Flex II, as originally applied for, unless UL Flex III is specifically requested.
  • If an UL Flex III policy is requested, a new illustration is required; however, a new application is not required.
    • Note the request for UL Flex III on a cover letter/transmittal.
    • Submit a new, signed illustration (may be secured at policy delivery).


Policies still within the examination period (COD, Offer or Shortage)

  • If the new UL Flex III product is desired:
    • Simply indicate UL Flex III with the delivery requirements, return the original policy and submit the correct premium amount and new, signed illustration.
    • Once a new policy is issued, it will be mailed to the producer to deliver to the client along with any applicable delivery requirements, which must be signed and returned.



  • Backdating is allowed to the date of state approval, in order to save age.


State approvals

  • All states except California and New York have approved UL Flex III.
  • Approvals after April 9, 2018 will follow the same guidelines, based on the state’s approval date.

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