Principal Financial Group vs Allianz Life Insurance Company of North America
Comprehensive side-by-side comparison of indexed universal life insurance companies
Principal Financial Group
Founded: 1879
Des Moines, Iowa
Assets
$629 billion+ AUM
IUL Experience
5+ years
Products
2
Avg Cap Rate
9%
Key Strengths
Offers IUL Accumulation II, IUL Flex II
Enhanced caps announced January 2024
Serves 17 million
Allianz Life Insurance Company of North America
Founded: 1896
Minneapolis, Minnesota
Assets
$125 billion
IUL Experience
28+ years
Products
2
Avg Cap Rate
9%
Key Strengths
Exclusive Index Rate Lock feature (unique to Allianz)
40% multiplier bonus available
5% guaranteed index loan rate
Multiple uncapped index crediting options
Free chronic and terminal illness benefits
Detailed Feature Comparison
| Feature | Principal Financial Group | Allianz Life Insurance Company of North America |
|---|---|---|
| Founded | 1879 | 1896 |
| Headquarters | Des Moines, Iowa | Minneapolis, Minnesota |
| Assets Under Management | $629 billion+ AUM | $125 billion |
| Years in IUL Business | 5+ years | 28+ years |
| Number of IUL Products | 2 | 2 |
| Typical Cap Rate Range | 8% - 10% | 8% - 10% |
| Participation Rates | 110% | 110% |
| Minimum Premium | $5,000 annual | $5,000 annual |
| Issue Ages | 0-85 years | 25-65 for accelerated underwriting (up to $3M without medical exam) |
| Underwriting Speed | 2-4 weeks | 2-3 weeks standard, accelerated available |