The Principal Financial Group has unveiled Principal Universal Life Flex, which it says offers clients both flexible protection and greater cash accumulation in a single product.

Principal UL Flex gives customers choice with adjustable death benefit protection and flexible premium payments, according to the Des Moines, Iowa-based company. An additional rider focuses on long-term cash accumulation for clients who want to supplement retirement rather than survivor benefits as well.

Other options include a Surrender Charge Flex rider that waives a portion of the surrender charges allowing access to cash sooner and a Life Paid-Up rider to keep the policy from lapsing when a policy is used for supplemental retirement income.

“Many investment portfolios were rattled this past year. As markets begin to rebound, individuals may be reassessing their financial goals and diversifying their portfolios to protect their financial future,” said Greg Linde, vice president of individual life for the Principal Financial Group, in a statement. “Life insurance like Principal UL Flex offers a known benefit, not directly tied to market performance which gives some stability against life’s uncertainties.”