Principal debuts annuity with sustainability index

July 18, 2023 by Business Record Staff

Principal Financial Group has introduced its first registered index-linked annuity (RILA) called Principal Strategic Outcomes. The launch aims to meet the increasing demand for annuity options amid market uncertainty and the desire to mitigate investment risk among individuals nearing retirement. The total industry sales of RILAs reached a record $41.1 billion in 2022 due to market volatility and inflation pressures.

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Originally Posted at Business Record on June 2, 2023 by Business Record Staff.