Principal Financial Group executives say efforts to wind down unwanted U.S. life and annuity operations are going well. Dan Houston, the Des Moines, Iowa-based company’s CEO, briefed securities analysts on the company’s realignment Wednesday, during a conference call the company held to go over earnings for the second quarter, which ended June 30. Principal announced June 28 that it intends to end the sale of U.S. individual fixed annuities and of retail U.S. individual life insurance. The company is planning to stay in the market for the kinds of individual life policies sold through executive compensation plans. “Our resulting go-forward strategy is focused on our growth drivers of...
Continue reading...
The Principal Financial Group is the world’s leading financial service groups. Principal offers both insurance and financial products to businesses and consumers worldwide. They have made a name for themselves by bringing affordable options and reliable policies to more than 18 million customers while providing services for consumers at a time that they need it most. As both an insurance and financial company, you can have confidence in knowing that the Principal Financial Group, or The Principal, will handle your money responsibly. Principal Life Insurance Company Background Founded in 1879, Principal Life Insurance Company has been around the longest when compared to other life...
Continue reading...
Looking for the best Westchester dentist who accepts Principal Life Dental PPO? We have many patients in the office who have Principal Dental PPO. They choose us because of the highest level dental care and outstanding customer service they receive at our office. Read their reviews and discover for yourself. Having a dental emergency? See our DENTAL EMERGENCY page for fastest service. Want to know more about your dental insurance? Please read this helpful guide. Principal Life Insurance offers a wide variety dental insurance plans, and the type of plan you have depends on the contract your employer signed with them. Many of the plans follow similar structure – but yours may have specific...
Continue reading...
(Nasdaq: PFG) today announced changes to its portfolio and capital management strategy to drive profitable growth, reduce capital intensity, sharpen its strategic focus, and generate long-term value for shareholders. These changes were approved by the Principal Board of Directors following a comprehensive review of the company’s business mix and capital management options that was undertaken as a part of a cooperation agreement with one of Principal’s largest investors, Elliott Investment Management, L.P. “This thorough and intensive review considered strategic fit, client needs, financial impact, and the risk profile of our business lines. The outcome will result in a more focused...
Continue reading...
Principal is ending some of its retail business after an activist investor called for a review of all of the company's operations. The Des Moines-based financial services company announced Monday that it will stop selling fixed annuities, term life and universal life insurance products to retail customers. The company will continue to sell those life insurance products to businesses that are looking to provide benefits to employees. The company has not said how the moves will affect its workforce, including the 6,300 workers in Des Moines. Spokesperson Teresa Thoensen said in an email that Monday's announcement will affect "less than 5%" of all roles at Principal's U.S. offices. She added...
Continue reading...
Opinion MICHAEL SONNICHSEN, Plaintiff, v. PRINCIPAL LIFE INSURANCE COMPANY, Defendant. DECISION AND ORDER Michael Sonnichsen, a self-employed stock broker and financial advisor, seeks the recovery of benefits under a disability income policy issued by Principal Life Insurance Company. Since Sonnichsen is self-employed, this is not an ERISA action. See, e.g., Patil v. Prudential Ins. Co., 197 F. Supp. 2d 716, 719 (E.D. Tex. 2002) ("An employer cannot form an [Employee Welfare Benefit Plan] for himself as the sole employee of the plan"); Smith v. Equitable Life Assur. Co. of United States, 148 F. Supp. 2d 1247, 1253 (N.D. Ala. 2001) (no ERISA plan because the insurance policy "covered...
Continue reading...
By Dan Houston, Chairman, President and CEO, Principal® As CEO of Principal, I routinely explain how our retirement business has grown both in size and scope. But retirement itself is undergoing a massive and unprecedented expansion—if not exponential transformation—both here in the United States and around the globe. Americans born in 1900 faced an average life expectancy of only 47 years. [i] This historic statistic will reshape our lives. It challenges us to reimagine what concepts such as “lifelong learning, a “second career,” or “senior health” really mean today. Governments and the financial services industry will have to collaborate closely on new innovations to support those who...
Continue reading...
Principal Financial Group has launched a new digital experience, Principal Life Online, in an effort to increase insurance coverage in the U.S. and simplify the term insurance purchase process. Describing it as an innovative, digital solution, the insurer says Principal Life Online streamlines the term life insurance buying experience from application submission to policy delivery. Principal Life Online can save an average of 30 days from the traditional paper term purchase experience and is up to three times quicker than the previous experience, according to Principal. “Customers expect a seamless online experience in most places they shop, but insurance hasn’t historically been easy to...
Continue reading...
Simply Retirement by Principal® Offers New 401(k) Solution for Start-up Retirement Plans Despite recent market volatility, 85% of small businesses with one to 100 employees say they're stable or growing , according to new research from Principal Financial Group announced a new digital offering to help small business clients and their financial professionals build retirement benefits programs that can attract and retain top talent and support continued growth. With more than 5 million businesses without retirement plans , Simply Retirement by Principal , is designed to make 401(k) plans more accessible to businesses with fewer than 100 employees. "Millions of small businesses do not offer a...
Continue reading...
Principal Annuity Review Established in 1879, the Des Moines, Iowa-based Principal is a Fortune 500 company and one of the largest providers of insurance and retirement plans in the U.S. Principal has a wide range of products and financial services that it offers to individuals, including annuities, individual retirement accounts (IRAs), investments, life insurance and more. Annuities are complex financial instruments, and there are a variety of contract types, each with their own fees, rules and optional riders. If you have questions regarding which type of annuity best fits your financial and retirement planning needs, consider working with a financial advisor in your area. As of 2019,...
Continue reading...
