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fixed annuities

Multi-Year Guarantee Annuity Details

Principal Select Series Annuity 9

This annuity product has been withdrawn by the issuing insurance company and is no longer available for new purchases.

Product Name

Principal Select Series Annuity 9

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)
91
(percentile of rated companies)

Product Information

The Principal Select Series Annuity 9 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 9 year guarantee period annual yield is 1.50% 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 Select Series Annuity 9 has a full penalty free withdrawal window after 9 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contract year, and each year thereafter, this annuity provides up to 10% (noncumulative) of the contract value may be withdrawn from the annuity each contract year without penalty.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 $88.8 billion in total assets.

Rate Details

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

Current
9 Year Guarantee Period Annual Yield: 1.50%
Interest rate start of year 1 through end of year 9: 1.50%

Premium Amount: $5,000 - $99,999 Low-Band

Current
9 Year Guarantee Period Annual Yield: 1.25%
Interest rate start of year 1 through end of year 9: 1.25%
This annuity product has been withdrawn by the issuing insurance company and is no longer available for new purchases.

Initial Surrender Charge and MVA Periods

9 years

9 years

9 years

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

Policy Details

Penalty Free Withdrawal Provisions

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 01/01/2021)