*These funds use the PVC LargeCap S&P 500 Managed Volatility Index Account
Principal® Lifetime Income Solutions II
Guarantees are better than hope
Markets go up and down, so losing investment value is a reality for most of us. But it’s harder to deal with in retirement. And without a source of guaranteed income, this could affect how much your clients can spend.
Providing a source of guaranteed income, like that provided by Principal Lifetime Income Solutions II Variable Annuity (PLIS II), can help insure you won’t have to do that.
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The benefits of PLIS II
PLIS II may allow your client to keep pace with inflation by keeping money invested in the market. They enjoy tax-deferred growth potential and can access money through scheduled and unscheduled withdrawals. Plus, PLIS II offers a guaranteed death benefit, so clients can leave a financial legacy to their loved ones.
Guaranteed income riders
Three guaranteed minimum withdrawal benefit (GMWB) riders are available—Target Income Protector, Flexible Income Protector, and Flexible Income Protector Plus. Your clients can choose the rider that best fits their financial goals. Each creates a guaranteed income stream they can’t outlive.1
Bonus and step-up features
PLIS II’s annual step-up feature is available with each of the three GMWB riders. Annual market gains are locked into a client’s withdrawal benefit base.2 The annual bonus is available with the Target Income Protector and Flexible Income Protector Plus riders.
Both of these features are provided at no extra cost and offer another way to way to increase your clients' future guaranteed income.
Investment options
Your clients will be able to allocate money to a number of different subaccount investments depending on the rider they choose. Our riders are designed to offer both traditional and risk-controlled funds. The right one for your clients depends on how much risk they’re willing to take with their investment.
Target Income Protector
- Diversified Growth Volatility Control*
- Diversified Balanced Volatility Control*
- Diversified Income
- Fidelity VIP Government Money Market
- 6- & 12-month DCA accounts
Flexible Income Protector
- Diversified Growth
- Diversified Balanced
- Diversified Income
- Diversified Growth Managed Volatility*
- Diversified Balanced Managed Volatility*
- Fidelity VIP Government Money Market
- 6- & 12-month DCA accounts
Flexible Income Protector Plus
- U.S. LargeCap Buffer July
- Diversified Income
- Fidelity VIP Government Money Market
- 6- & 12-month DCA accounts
Investment asset allocation
PVC Bond
Market
Index Fund
PVC Large
Cap S&P 500
Index
Account
PFI MidCap
S&P 400
Index Fund
PFI SmallCap
S&P 600
Index Fund
PFI
International
Equity Index
Fund
Volatility
Control
Overlay
Traditional diversified funds
Managed volatility diversified funds
Volatility control diversified funds
Additional volatility protection
PLIS II resources
Investment
performance
The importance
of guarantees
Explaining a guaranteed
income floor to clients
1 While it's necessary to select one of these riders with the annuity contract, clients can choose to cancel it after the fifth year of the contract.
2 Available until age 80 or until client has been in the contract for ten years, whichever comes later.
Withdrawals prior to age 59½ are subject to a 10% IRS penalty tax.
For financial professional use only. Not for distribution to the public.
Tax-qualified retirement arrangements, such as IRAs, SEPs and SIMPLE-IRAs are tax deferred. You derive no additional benefit from the tax-deferral feature of the annuity. Consequently, an annuity should be used to fund an IRA, or other tax-qualified retirement arrangement, to benefit from the annuity's features other than tax deferral. These features may include guaranteed lifetime income, death benefits without surrender charges, guaranteed caps on fees and the ability to transfer among investment options without sales or withdrawal charges.
Annuity products and services are offered through Principal Life Insurance Company. Principal Variable Contracts Funds are distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC, and/or independent broker/dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, Iowa 50392, principal.com.
Guarantees are based on the claims-paying ability of the issuing insurance company.
All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. Policy guarantees and benefits are not obligations of, nor backed by, the broker/dealer and/or insurance agency selling the policy, nor by any of their affiliates, and none of them makes any representations or guarantees regarding the claims-paying ability of the issuing insurance company.
Contract rider descriptions are not intended to cover all restrictions, conditions or limitations. Refer to rider for full details.
Principal®, Principal Financial Group®, and Principal and the logomark design are registered trademarks of Principal Financial Services, Inc., a Principal Financial Group company, in the United States and are trademarks and service marks of Principal Financial Services, Inc., in various countries around the world.
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