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  Principal Life Insurance

Principal Life Insurance

in Life Insurance from Principal Financial Group

Unaffiliated

Principal Life Insurance

Unaffiliated

in Life Insurance from Principal Financial Group

Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

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Financial Strength Rating A+

Principal Life Insurance Review

Principal life insurance is a life insurance carrier based in Des Moines, IA. The company was founded in 1879 and offers life insurance products in 50 states (and Washington, DC).

Principal life insurance FAQ

What types of life insurance products does Principal life insurance offer?

Life insurance companies typically offer a wide variety of life insurance options. One of the best ways to save money on life insurance products is to avoid unnecessary coverage. Only purchase life insurance policies and riders you actually need.

Here is a brief description of life insurance options Principal life insurance offers.

  • Term Life Insurance - This is the simplest type of life insurance policy. Term life insurance policies are payable if the insured person dies within a specific period of time, such as 5, 10, or 30 years. Principal life insurance offers term lengths ranging from 10 to 30 years. Death benefit amounts range from $200,000 to $1,000,000.
  • Level Term Life Insurance - These are term life insurance policies that have the same fixed premium and payment amount through the duration of the life insurance policy.
  • Decreasing Term Life Insurance- These types of term life insurance policies has fixed premiums but the death benefit decreases over the duration of the term life insurance policy.
  • Universal Life Insurance - This type of universal life insurance policy guarantees a fixed death benefit and an investment account. The cash value of the investment account will vary depending on the portfolio's performance.
  • Variable Universal Life Insurance - These types of universal life insurance policies provides the most flexibility when it comes to investing the cash value of a universal life policy in separate accounts with "variable" values.
  • Indexed Universal Life Insurance - These types of universal life insurance policies allows policyholders to place the cash value of the life insurance policy in a fixed account or an equity index account, such as the S&P 500 or the Nasdaq 100.

As well as the basic coverage types mentioned above, Principal life insurance company also offers the following life insurance policies:

  • Group Life Insurance - Principal life insurance offers some of its life insurance policies as a group benefit to employees who meet certain eligibility requirements, such as having worked for a month in the company. Typically, these term life insurance policies can only be adjusted or purchased after a qualifying life event, such as marriage or the birth of a child, or during an open enrollment period.
  • Guaranteed Issue Life Insurance - These whole life insurance policies offer a cash death benefit to the beneficiary. All coverage applications are approved regardless of health concerns. The catch is that these life insurance policies usually have lower death benefits and higher than normal premiums.
  • Survivorship Life Insurance - These types of joint universal life insurance policies cover two individuals and pays a death benefit to a beneficiary after both have died.

How can you save money on a Principal life insurance life insurance policy?

When you ask for a life insurance quote with Principal life insurance, ask what discounts are available for various life insurance options.

These include:

What is the financial strength rating of Principal life insurance?

The financial strength rating of life insurance companies scores its ability to pay contracts and life insurance policies. SuperMoney gives Principal life insurance an A+, which is the highest available rating we give to life insurance companies.

SuperMoney's financial strength rating is primarily based on the average score from insurance rating agencies.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

  • Headquarters
  •   711 High Street
    Des Moines, IA 50392 USA
  •   Visit Site

About Principal Life Insurance

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Financial Strength Rating A+
Policy Discounts Full Payment
Life Insurance Features
  • Business Continuity Assistance
  • Cash Value Loans
  • No Medical Exam Policies
  • Online Quotes
Term Length 10 - 30
Term Life Age Range 20 - 80
Term Life Death Benefit Range $200,000 - $1,000,000
Term Options
  • Term Life
  • Level Term
  • Decreasing Term
Whole / Permanent Life Options
  • Universal Life
  • Universal (Variable)
  • Universal (Indexed)
Whole Life Age Range 10 - 100
Group Basic Term Death Benefit Range Up to $1,000,000
Group Life Options
  • Group Basic Term Life Benefit
  • Group Supplemental Term Life Benefit
  • Group Basic Coverage Guaranteed
Group Supplemental Term Death Benefit Range Up to $500,000
Life Insurance Riders
  • Accelerated Death Benefit (Critical or Chronic Illnesses)
  • Accelerated Death Benefit (Terminal Illnesses)
  • Accidental Death or Dismemberment / Double Indemnity
  • Cash Surrender Value
  • Change of Insured
  • Child Term Rider
  • Cost of Living (Increasing Term)
  • Disability Income
  • Estate Tax Repeal / Enhanced Policy Split
  • Guaranteed Insurability / Renewability
  • No-Lapse Guarantee
  • Overloan Protection
  • Paid-Up Additions
  • Salary Increase
  • Spouse Insurance
  • Term Conversion
  • Waiver of Premium Due to Illness / Disability

Principal Life Insurance Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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