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Multi-Year Guarantee Annuity Details

Principal Preferred Series Annuity with ROP 5

Product Name

Principal Preferred Series Annuity with ROP 5

Annuity Type

Multi-Year Guarantee 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 Preferred Series Annuity with ROP 5 is a deferred multi-year guarantee annuity issued by Principal Financial Group - Principal Life.

This annuity is a premium banded product. The interest rate you earn will vary depending on the amount of premium you deposit (see Rate Details below). Currently, the highest 5 year guarantee period annual yield is 1.30% on premium amounts of $100,000 - $2,000,000.  This is the guaranteed annual yield, including bonuses if applicable, for the initial guarantee period term, up to the first penalty free full withdrawal window. The Principal Preferred Series Annuity with ROP 5 has a full penalty free withdrawal window after 5 years.

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contract year, and each year thereafter, this annuity provides up to 15% (noncumulative) of the contract value may be withdrawn from the annuity each contract year without penalty.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 1st, 2021
Not Scheduled
5 years

Premium Amount: $100,000 - $2,000,000 High-Band

Current
5 Year Guarantee Period Annual Yield: 1.30%
Interest rate start of year 1 through end of year 5: 1.30%

Premium Amount: $50,000 - $99,999 Mid-Band

Current
5 Year Guarantee Period Annual Yield: 1.20%
Interest rate start of year 1 through end of year 5: 1.20%

Premium Amount: $5,000 - $49,999 Low-Band

Current
5 Year Guarantee Period Annual Yield: 0.95%
Interest rate start of year 1 through end of year 5: 0.95%

Initial Surrender Charge and MVA Periods

5 years

N/A

5 years

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

Other Guarantee Periods Available

Policy Details

$5,000
$5,000
$2,000,000
$2,000,000
90
90
60 days
No
Accumulation Value
No

Penalty Free Withdrawal Provisions

15%
15%
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 11/14/2019)

Notes

Return of Premium (ROP): Guaranteed Return of Premium is an optional rider that is included with this configuration of the annuity. During the initial guarantee period, the guaranteed return of premium will never be less than the sum of the total premium payments, less any previous amounts withdrawn. While there is no fee for this rider, the interest rate you receive will be lower than a contract without the ROP rider.