1. Principal Indexed Universal Life Flex II℠
Cost-effective coverage with an indexed boost

2. Why Indexed Universal Life (IUL)?
Large and growing market
Upside potential, downside protection
Two options to meet the need
Get your share: Talking to your clients about Principal IUL can create new opportunities for you and protection solutions for them.
For financial professional information only. Not for use with the public.

3. A fresh new look for IUL Flex
Non-network
2017 CSO update
Align with the market
Meet regulatory requirement
Shift more toward where the market is
Maintain strengths
All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company.
For financial professional information only. Not for use with the public.

4. What changed? Lower policy charges and cap
Premiums for long-term coverage improved
20-year cash values hold steady
Shorter surrender charge period for older insureds
Increase in loan charge rate
For financial professional information only. Not for use with the public.

5. Get more with less
A lower cap enables lower policy charges, which makes the product:
Less sensitive to index-linked returns.
Better able to compete when illustrated at lower rates.
Some people are more comfortable with a lower maximum illustrated rate.
For financial professional information only. Not for use with the public.

6. Low-cost coverage
Male, age 55, Preferred Non-Tobacco, $1 million death benefit, premium solve for $1 of cash value at age 100
Premium
@ Maximum rate
@ 5%
20-year cash value
Lapse age
IRR
AIG Value+ IUL
$10,482
$191,749
100
-0.9%
$170,925 95
-2.0%
Principal IUL Flex II
$10,587
$239,815
1.2%
$210,191 96
-0.1%
John Hancock Protection IUL
$10,939
$169,800
-2.5%
$136,998 90
-4.7%
Protective Indexed Choice UL
$11,087
$256,561
1.4%
$233,449
0.5%
AXA BrightLife Protect
$11,368
$203,418
-1.1%
$195,565
-1.5%
Pacific Life Indexed Protector 2*
$11,772
$102,009
-8.9%
$87,295 92
-10.8%
*40% blend
The data shown in these comparisons is taken from various company illustrations. Information is current and accurate to the best of our knowledge as of September The comparisons in this communication are of different products that vary in fees, expenses, features and benefits.
For financial professional information only. Not for use with the public.

7. Efficient cash value accumulation
Age 55, male, Preferred Non-Tobacco, $1 million death benefit, DBO 1, CVAT
$10,587 level-pay prem. for all products
Cap
Maximum rate
20-year cash value
Protection to age
Principal IUL Flex II
10.00%
6.05%
$239,839
100
Protective Indexed Choice UL
9.50%
5.81%
$237,930 97
Nationwide YourLife IUL Protector
9.00%
6.40%
$210,842
AIG Value+ IUL
$196,072
101
VOYA IUL Protector
10.50%
6.28%
$176,058 89
AXA BrightLife Protect
8.50%
5.32%
$175,533 93
Prudential Founders Plus UL
9.25%
5.70%
$167,476 95
The data shown in these comparisons is taken from various company illustrations. Information is current and accurate to the best of our knowledge as of September The comparisons in this communication are of different products that vary in fees, expenses, features and benefits.
For financial professional information only. Not for use with the public.

8. Who’s a good prospect? Age 35-65 Budget-conscious
Believes in the market but doesn’t want the volatility
Seeks more growth opportunity than fixed products offer
For financial professional information only. Not for use with the public.

9. The right product for the situation
Principal IUL Flex II
Principal IUL Accumulation
Funding level
Up to 2X IUL Flex II target premium
IUL Accumulation target premium and greater
Maximize protection •
Long-term guarantees are important
Illustrating at lower rates
Cash value growth is most important
Intend to take income stream
Need high early cash value (business case)
For financial professional information only. Not for use with the public.

10. What are top strategies?
Businesses
Executive benefits for key employees
Key person protection
Buy-sell plan
Families
Income replacement
Estate planning
Sales idea: look at an IUL Flex II and UL Protector IV combo.
For financial professional information only. Not for use with the public.

11. Ready to get started?
Brush up on the details with updated marketing materials.
Talk to the specialists - your life RVP or internal wholesaler.
Build your client conversations:
Consumer video
Introduction to IUL brochure
For financial professional information only. Not for use with the public.

12. Principal National Life Insurance Company and Principal Life Insurance Company, Des Moines, Iowa ,
Insurance products issued by Principal National Life Insurance Co. (except in NY) and Principal Life Insurance Co. Principal National and Principal Life are members of the Principal Financial Group®, Des Moines, IA
S&P® and S&P 500® and S&P 500® Total Return are registered trademarks of Standard & Poor’s Financial Services LLC and have been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by The Company. The S&P 500® and S&P 500® Total Return is a product of S&P Dow Jones Indices LLC and has been licensed for use by The Company. The Company’s policy is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC or its affiliates and none of S&P Dow Jones Indices LLC or its affiliates make any representation or warranty regarding the advisability of investing in such product(s).
For financial professional use only. Not for use with the public.
Principal, Principal and symbol design and Principal Financial Group are trademarks of Principal Financial Services, Inc., a member of the Principal Financial Group.
BB | 10/2017 | t y9 | ©2017 Principal Financial Services, Inc.   

13. Have questions? We’re happy to answer them.