What is Principal Life Insurance Company?

Principal Life Insurance Company is a financial institution that offers life insurance policies to individuals and businesses.

A life insurance policy is a contract with an insurance company where the policyholder pays premiums to receive a death benefit if they pass away before a specified age or time period.

Principal Life Insurance Company was founded in 1847 and is headquartered in Indianapolis, Indiana, United States. The company operates as a subsidiary of Principal Financial Group, which is one of the largest financial services companies in the world.

Types of Life Insurance Policies Offered by Principal Life Insurance Company

Principal Life Insurance Company offers a variety of life insurance policies to meet the needs of its clients. Some of the most common types of life insurance policies offered by the company include:

• Term Life Insurance
• Permanent Life Insurance

Term Life Insurance

Term life insurance is a type of life insurance policy that provides coverage for a specified term, usually ranging from 10 to 30 years. The policyholder pays premiums for the duration of the term and receives a death benefit if they pass away before the end of the term. Term life insurance policies are generally less expensive than permanent life insurance policies.

Permanent Life Insurance

Permanent life insurance is a type of life insurance policy that provides coverage for the entire lifetime of the policyholder. The policyholder pays premiums for as long as they live and receives a death benefit if they pass away. There are two main types of permanent life insurance policies:

• Whole Life Insurance
• Universal Life Insurance

Whole Life Insurance

Whole life insurance is a type of permanent life insurance policy that provides coverage for the entire lifetime of the policyholder, as long as premiums are paid on time. The policyholder pays a fixed premium amount each year, which covers both the cost of the death benefit and any cash value that may accumulate in the policy.

Universal Life Insurance

Universal life insurance is another type of permanent life insurance policy that provides coverage for the entire lifetime of the policyholder, as long as premiums are paid on time. Unlike whole life insurance, the premium amount for universal life insurance can be adjusted throughout the life of the policy based on changes in the policyholder’s financial situation or needs.

Benefits of Life Insurance Policies from Principal Life Insurance Company

There are several benefits to having a life insurance policy from Principal Life Insurance Company, including:

• Financial Security
• Peace of Mind
• Flexibility
• Customer Support

Case Study: How Principal Life Insurance Company Helped a Business Manager

John was a business manager who wanted to ensure that his family was financially secure in the event of his death.