Cost & Coverage
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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.
|A.M. Best 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.|
|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.|
|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.|
|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.
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