Principal Launches Two New Variable Annuities

DES MOINES, Iowa, April 6 -- Principal Financial Group issued the following news release:

Recognizing that people need more flexibility and choices as they look to grow and protect savings, Principal Financial Group (R) 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 (R). "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."

Guaranteeing income1

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."

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