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Principal Life Insurance Company Review

Principal National Life Insurance Company operates in most states,

While Principal Life Insurance Company helps New Yorkers.

Principal Life Insurance Review

  • Ratings
  • Underwriting
  • Life Insurance Products
Principal Life

Here are some reasons to consider Principal.

Principal Overview

You’ll see that Principal is competitive with product pricing, business life insurance, and high-risk cases.

If you need life insurance, make sure you consider Principal.

Ratings

Independent Services rate Principal:

AgencyRating Rating DefinitionRating Date
AM BestA+Superior 06/2018
Moody’sA1Good06/2018
S&PA+Strong06/2018
FitchAA-Very Strong06/2018
Subject to change

When comparing life insurance companies, you’ll see that the Principal rates favorably.

Principal Underwriting

Underwriting rate classes available:

  • Super Preferred Non-Tobacco
  • Preferred Non-Tobacco
  • Super Standard Non-Tobacco
  • Standard Non Tobacco
  • Preferred Tobacco
  • Standard Tobacco

Principal is most competitive for the following health issues:

  • Build
  • Heart Problems
  • Prostate Cancer
  • Epilepsy
  • Financial Underwriting
  • Foreign Nationals
  • Aviation

Life insurance table ratings apply to some high-risk health conditions.

Principal offers ratings up to table 6 for term life, and table 16 on universal life insurance.

A flat extra charge may be added for cancer histories, private pilots, and scuba divers.

Underwriting programs include:

Health Lifestyle Credits – Principal reviews your overall health history and assigns a score to you,

Based on the positive and negative underwriting factors.

With positive factors, up to 2 table ratings may be offset.

For others, the Healthy Lifestyle Credits program may help you move up from a preferred to Super Preferred rate class!

Accelerated Underwriting – For some healthy non-smokers between the age of 18-60.

Coverage amounts from $50,000 – $1,000,000.

If you’re approved for their accelerated underwriting program,

The paramedical exam is eliminated and approvals may occur in as little as 48 hours!

Life Insurance Products

Principal offers the following types of life insurance.

Term Life Insurance

  • Minimum Policy Size = $200,000
  • Issue Ages – 20 – 80 years old
  • Choice of Term Lengths
    • 10 Year Term
    • 15 Year Term
    • 20 Year Term
    • 30 Year Term
  • Standard Conversion or Extended Rider (extra cost)
  • Accelerated Benefit Rider
  • Children Term Rider
  • Conversion Extension Rider
  • Waiver of Premium
Principal Term Life Conversion GuideDownload

Universal Life Insurance

One of Principal’s most popular universal insurance products is the Universal Life Protector IV.

The appeal is a no-lapse guaranteed death benefit to age 120.

It’s simple and easy to understand.

As long as you pay your premiums on time, the guaranteed death benefit will be there.

In addition to the above, Principal offers index universal life insurance policies that may accumulate cash values over time,

Conclusion

Principal is an insurance company that we consider for most cases.

When Principal is competitive for your situation, we’ll let you know that.

Please take a few minutes to submit your quote request today. Thank you.

Mike Horbal bio

Michael J Horbal

I’m the owner of RiskQuoter. We specialize in life insurance underwriting, helping you get the best rates whether you have perfect health or a history of medical problems.

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Last Updated – January 26, 2021

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