Principal is one of the oldest and largest insurers in America. Their reputation for excellent underwriting practices and customer service earns them one of our highest rankings.
| Founded | 1897 |
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| A.M. Best rating | A+ |
| BBB rating | A+ |
| Company info | “The Principal Financial Group is a leading global financial company offering businesses, individuals and institutional clients a wide range of financial products and services.” |
| Evaluation | 4.75/5 - One of the largest financial services companies, Principal offers best in class underwriting and customer service. |
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| Contract | 4/5 |
| Application process | 5/5 |
| Customer service | 5/5 |
| Underwriting | 5/5 |
| Product name | N/A |
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| Elimination period | 30 days, 60 days, 90 days, 180 days, 365 days |
| Benefit period | 2 year, 5 year, Age 65, Age 67, Age 70 |
| Definition of disability | Own Occupation, Not working; True Own Occupation via rider |
| Guarantee | Guaranteed Renewable and non-cancelable |
| Partial/residual disability | Available via rider |
| Death Benefit | Lump sum benefit paid if insured dies while on claim. |
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| Waiver of Premium | Premium waived while on claim. |
| Transplant Surgery Benefit | Pays a benefit if disability arises out of transplant. |
| Benefit Update Rider | Allows future increases to the coverage without evidence of medical insurability. |
| Capital Sum Benefit Rider | An additional lump sum benefit paid if you lose use of a hand or foot or sight in one eye. |
| Future Benefit Increase Rider | Automatically increases the monthly benefit for the first six years the policy is in force, unless declined. |
| Presumptive Disability Benefit Rider | Pays the benefit, regardless of ability to work, if you lose sight, hearing, speech, or both hands or feet. |
| Supplemental Health Benefit | Pays an additional lump sum benefit if disabled due to a critical illness. |
| Social Insurance Substitute | Part of the monthly benefit could be reduced if you qualify for social security disability insurance. |
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| Rehabilitation Benefit | Pays an additional benefit if insurer participates in a rehabilitation program. |
| Regular Occupation | Changes the definition of disability to True Own Occupation. |
| Residual Disability and Recovery Benefit | Pays a benefit if you are still working and experience a loss of income. Also pays for vocational training. |
| Transitional Occupation Rider | An own occupation variation that pays a full benefit even while working in another occupation, until you make more than pre-disability. |
*Subject to availability based on individual applicant’s personal profile.