Principal Announces Gap in CA Permanent Products Starting 1/1

From Principal:

We are going to have a gap in permanent products available in CA starting January 1st.

• What’s approved: Term and our COLI/EVUL are approved in CA

• What’s close: We are expecting UL Flex and ULPE to be approved shortly in CA and IUL Flex should be approved in all compact states by year end (all but CA, NY, FL, SD)

• What may take longer: IUL Flex, IUL Accumulation, SUL and VUL Income.

If you do have a sale pending in CA for a non-approved product, we’ll need formal applications in the Home office by December 31st to secure the existing product.  For applications received after 12/31 you’ll have the option to proceed with term or close the case until we do have products approved.  We can always underwrite informally as well to get things started!