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Principal Strategic Income

The Principal Life Insurance Company, founded in 1879, has become a key figure in the life insurance and retirement solutions market by offering various kinds of life insurance, annuity, and retirement planning products. With a focus on catering to the unique needs of a diverse customer base–be it retirees, families, business owners, or employees–their aim is to continue to innovate products and their respective features to align with the ever-evolving needs of their clientele. By ensuring up-to-date services and products, Principal continues to receive high financial strength ratings from major rating agencies.

Principal Strategic Income

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Your State

Investment

Your Gender

Your Age

Retire At

No agent will call you

About Product

Type

Registered Index-Linked

Purpose

Lifetime Income

Term

6 Years

Surrender schedule

Fee withdrawal:

10%

Market Value Adjustment

Yes

Return Of Premium

Minimum Contribution

$20,000

Maximum Contribution

$2,000,000

Max Age Qualified

Types Of Funds

Non-Qualified, 401k, Profit Sharing, IRA, Spousal IRA, Pension, IRA Rollover, 401a, IRA Transfer, TSA 403b, SEP IRA, KEOGH, IRA-Roth, SIMPLE IRA, 457 plan, 1035 Exchange, Stretch IRA, Inherited IRA, NQ Stretch, and TSP

Launch Date

06/27/2024

Principal Strategic Income is a registered indexed-linked annuity (RILA) designed to provide guaranteed lifetime income. It offers growth potential as well as some protection from market downturns. You have several product choices that allow you to tailor the annuity to fit your overall financial plan.

Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, PA, RI, SC, SD, TN, TX, UT, VA, WA, WV, WI, and WY

Allocation Accounts

Name	Type	Rates
1-Year S&P 500 Peak Buffer Participation Rate with Cap with 20% Buffer	Dual Directional Annual	100% Participation 7% Cap
6-Year S&P 500 Peak Buffer Participation Rate with Cap with 20% Buffer Uncapped	Dual Directional 6-Year	95% Participation
1-Year Fixed Account	Fixed	3% Fixed
1-Year S&P 500 PTP Participation Rate with Cap with 10% Buffer	Point to Point Annual	100% Participation 13% Cap
2-Year S&P 500 PTP Participation Rate with Cap with 10% Buffer Uncapped	Point to Point Biennial	85% Participation
6-Year S&P 500 PTP Participation Rate with Cap with 10% Buffer Uncapped	Point to Point 6-Year	105% Participation
6-Year S&P 500 PTP Participation Rate with Cap with 20% Buffer Uncapped	Point to Point 6-Year	100% Participation
1-Year Russell 2000 PTP Participation Rate with Cap with 10% Buffer Uncapped	Point to Point Annual	70% Participation
1-Year S&P 500 PTP Participation Rate with Cap with 20% Buffer	Point to Point Annual	100% Participation 9.5% Cap
6-Year Russell 2000 PTP Participation Rate with Cap with 10% Buffer Uncapped	Point to Point 6-Year	115% Participation
6-Year SG Smart Climate PTP Participation Rate with Cap with 10% Buffer Uncapped	Point to Point 6-Year	135% Participation
1-Year S&P 500 PTP Participation Rate with Cap with -10% Floor Uncapped	Point to Point Annual	60% Participation
1-Year S&P 500 PTP Participation Rate with Cap with 0% Floor Uncapped	Point to Point Annual	35% Participation

Surrender schedule

Year	1	2	3	4	5	6
Penalty	8%	8%	7%	6%	5%	4%

Hypothetical Projection

Comparison against S&P 500 using current rates

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Investment Amount

Riders

Name	Inbuilt	Fee
Secure Income Protector Rider Level Income	Yes	1.50% annually
Secure Income Protector Rider Tiered Income	Yes	1.50% annually

Waivers

Nursing Home

Automatically issued with the contract for no additional cost. Waives surrender charges due to Health Care Facility. A licensed hospital or inpatient nursing facility providing daily medical treatment and keeping daily medical records for each patient (not primarily providing just residency or retirement care). This does not include a facility owned or operated by the Owner, Annuitant or a member of their immediate family. If the critical need is confinement to a health care facility, the confinement must continue for at least 60 consecutive days after the Contract Date and the Surrender must occur within 90 days of the confinement’s end. Notice must be provided within 90 days after confinement ends.

Terminal Illness

Automatically issued with the contract for no additional cost. Waives surrender charges due to Terminal Illness. Sickness or injury that results in the Owner’s or Annuitant’s life expectancy being 12 months or less from the date notice to receive a distribution from the Contract is received by the Company.

Disability

Automatically issued with the contract for no additional cost. Waives surrender charges due to Total and Permanent Disability. The Owner or Annuitant is unable to engage in any occupation for pay or profit due to sickness or injury.

Premium Notes

Premiums

Single premium
Minimum: $20,000
Maximum: $2 million without home office approval
Nonqualified, qualified

Withdrawal Provisions

Withdrawals free of surrender charges Available each contract year and is the greater of: Secure income benefit payment 10% of premium payments minus any withdrawals since the last anniversary Required minimum distribution (RMD) for qualified contractsBond Adjustment Upon Surrender, an adjustment (which could be positive, negative, or equal to zero) to the amount Surrendered. A Bond Adjustment may apply regardless of when a Surrender occurs, including on a Segment End Date. A Bond Adjustment may apply only to Surrenders deducted from the Index-Linked Segment Options or the Fixed Segment Option. Equity Adjustment For each Index-Linked Segment Option selected for investment, an adjustment (which could be positive, negative, or equal to zero) used to calculate the Segment Interim Value on each Valuation Day between the Segment Start Date and Segment End Date. The Equity Adjustment does not apply on the Segment End Date.

Company Founded: 1879

TOP Rated Company

Principal Life Insurance Company

Company Ratings

4.8