Principal National Life Insurance Company operates in most states,
While Principal Life Insurance Company helps New Yorkers.
Principal Life Insurance Review
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:
| Agency | Rating | Rating Definition | Rating Date |
| AM Best | A+ | Superior | 06/2018 |
| Moody’s | A1 | Good | 06/2018 |
| S&P | A+ | Strong | 06/2018 |
| Fitch | AA- | Very Strong | 06/2018 |
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
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.
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.
Last Updated – January 26, 2021