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Fixed Indexed Annuity Details

Principal Secure Choice 6

Product Name

Principal Secure Choice 6

Annuity Type

Fixed Indexed Annuity

Issuing Insurance Company and Ratings

A+
(2nd of 15 ratings)
A+
(5th of 20 ratings)
A1
(5th of 21 ratings)
AA-
(4th of 21 ratings)
90
(percentile of rated companies)

Product Information

The Principal Secure Choice 6 is a deferred fixed indexed annuity issued by Principal Financial Group - Principal Life.

This annuity is a premium banded product. The rates you are eligible to earn will vary depending on the amount of premium you deposit (see Rate Details below).

Premium can be allocated between 2 different strategy and index account options (see Index Account Options below). For complete details on index account options, including current cap and participation rates, please contact AnnuityAdvantage at 1.800.239.0356.

During the time in which the annuity is subject to surrender penalties, there are policy provisions that allow partial access on a penalty free basis. Beginning with the first contract year, and each year thereafter, this annuity provides up to 10% (noncumulative) of the contract value may be withdrawn from the annuity each contract year without penalty.

This annuity also waives withdrawal penalties upon death. Your named beneficiary(ies) will receive a death benefit equal to the full accumulation value. A beneficiary may choose to receive their death benefit in either a lump sum or select an available annuitization option.

Details on additional penalty waivers can be found in the Penalty Free Withdrawal Provisions section below.

Principal Financial Group - Principal Life is rated “A+” by A.M. Best, was founded in 1879, and has over $86.5 billion in total assets.

Rate Details

Sep 2nd, 2021
Not Scheduled

Premium Amount: $50,000 - $2,000,000 High-Band

Current
Fixed Account First Year Yield: N/A
Index Accounts - Annual Cap and Participation Rates:
S&P 500 – Point-to-Point Cap: 2.95%

Premium Amount: $10,000 - $49,999 Low-Band

Current
Fixed Account First Year Yield: N/A
Index Accounts - Annual Cap and Participation Rates:
S&P 500 – Point-to-Point Cap: 2.45%

Initial Surrender Charge and MVA Periods

6 years

N/A

6 years

State variations may exist, refer to product disclosure for details.

Policy Details

$10,000
$10,000
$2,000,000
$2,000,000
85
85
60 days
No
Accumulation Value
No

Penalty Free Withdrawal Provisions

10%
10%
No
Yes
Annuitization, Death, Disability, Medical Care Facility and Terminal Illness

See product brochure, disclosure and riders for additional details, limitations and availability. State variations, age restrictions and holding periods may apply.

State Variations

Not available in:  NY (as of 11/15/2019)