Life policy quotes. Principal Life Insurance Company Review 2017, Are they the best?

The Principal Financial Life Insurance Company provides excellent value and is a niche company in the life insurance marketplace. They are often the company that provides the lowest rates for non medical exam life insurance. If you’re thinking about a no exam life insurance policy, give us a call now and we’ll see if the Principal Life Insurance company will provide you the best value. Principal life insurance.

Principal Life Insurance Company Review

Principal started in 1879 as Bankers Life Association which is the name it stayed under for over a 100 years. Principal’s long history and reputation can be traced back to its founder, Edward Temple. Originally a banker, Temple founded the company in Iowa with a focus on providing life insurance options in the form of memberships.

Fast forward to 1985, and Bankers Life became what is now known as the Principal Financial Group. The company has now expanded into international markets including China, Brazil, India, Chile, and Mexico. In 2001, Principal became a publicly traded corporation when they filed their initial public offering.

Today, Principal is a member of the FORTUNE 500 and is a global investment management leader in addition to an excellent life insurance company.

Principal Life Insurance Products

Principal offers a variety of term and permanent life insurance products to the consumer. Principal has come up with short term and long term solutions for almost every customer.

Principal uses a unique life insurance underwriting approach. They determine if you’re eligible or not by using data with a 3 prong approach.

Principal will get the needed underwriting data from these 3 sources:

DMV (Department of Motor Vehicles)

Medical Information Bureau

Medication/Prescription database

As long as you are a healthy applicant without any major driving infractions, you should qualify.

Term life insurance brokers

What exactly is healthy? If your medical history is clean and free from heart disease, cancer, diabetes, stroke, etc. and your prescription history isn’t significant – you should have a great chance of qualifying. How about your driving record? You can only have a maximum of two tickets in the past three years.

What if you’re not in excellent health or have a preexisting health condition? You more than likely won’t qualify for Principal’s Non Medical option and would have to take a medical exam to qualify for their term life products.

Term Life Insurance

$1,000,000 for Non Medical Exam life insurance

Over $1 million with a Medical Exam

The minimum benefit amount is $200,000

Permanent Products

Variable Universal Life

Survivorship Universal Life

Principal No Medical Exam Life Insurance

Principal offers the highest death benefit for any Non Medical Exam products on the market.

You can secure a $1,000,000 policy without an exam just as long as you can qualify. Principal only provides their non medical policy for healthy individuals.

If you can’t qualify for their preferred plus or preferred ratings, then another life insurance company would be a better fit.

Life insurance products

Ratings and Financials

Principal Life is one of the best life insurance companies when it comes to ratings and financials. They have received and “A” rating from all of the major independent reviewers.

Standard & Poor’s, A.M. Best, Moody’s and Fitch have all provided Principal with ratings that show current and past financial stability. Principal should only continue to receive positive ratings in the future due to their track record.

Principal Life’s superior ratings and financial performance makes Principal – well, a principal life insurance company!

Additional Information

We receive a lot of life insurance questions about Principal Life Insurance. Here is where you’ll find additional information that may help in your decision if Principal Life is the right fit for you.

Highest Non Medical Exam benefit amount of $1,000,000

No Exam Index Universal Life

Healthy Lifestyle Credits – You can get a bump of rating class or 2 with credit scores

Must qualify for preferred rates to qualify for Non Med

$200,000 minimum death benefit

Riders

Principal Life offers an excellent variety of life insurance riders to their policies.

Auto insurance policy

Hazardous Sports Exclusion (available in most states)

Children Term Insurance Rider (minimum rider face amount = $5000, maximum rider face amount = $25,000.)

Super Preferred Non Tobacco

Super Standard Non Tobacco

Conversion Information: Earlier of the level premium period or age 70. Conversion to guaranteed UL products available only after 2nd anniversary of term policy.

Thank you for reading our article,Principal Life Insurance Company Review. Please leave a comment or question below.

Principal Company Details

Name(s): Principal Financial Group,Principal Financial Services, Inc., Principal National Life Insurance Company

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Overall rating page: 4.7 / 5 left 129 people.

Posted by at 03:42AM

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