Principal Life Insurance Company is an A+ rated life insurance company, and part of the Principal Financial Group, founded in 1879. The company offers a variety of competitively-priced life insurance products in all 50 states. Principal is especially competitive for larger term life insurance policies.
Principal Financial is one of the more competitive life insurance companies, especially for healthy applicants at larger policy amounts. They have fast-track underwriting (i.e., no lab tests) for the healthiest applicants in the top two underwriting classes, up to $1 million (the largest fast-track underwriting amount available on the market). The application process is also one of the more efficient ones across the top insurance companies.
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Principal Financial was one of 100 companies to be named one of the World’s Most Ethical Companies by the Ethisphere Institute in 2015. The company was also named a 2014 CDP Climate Leader for our commitment to improving our impact on the environment. Principal was also recognized by Forbes in 2014 as one of America’s Best Employers – ranking 63rd out of 500 companies.
Each insurer approaches health conditions differently. One insurer might ignore a heart attack from a few years ago, whereas a different insurer might rate you as a higher risk for the same thing. Here are the details of how Principal Financial Group treats a variety of common health conditions from an underwriting perspective.
|Recent Weight Loss||Excellent|
|Former Tobacco Use||Good|
|High Blood Pressure||Excellent|
Excellent - Above average; company provides excellent coverage for clients with this condition.
Good - Spot on; company doesn’t look at this condition unfavorably in underwriting.
Fair - Could use some work; clients with this condition may be issued a lower health rating, and subsequently higher rates than other insurers.
After you're a policyholder
Quote for: $500,000, 20-year term life insurance policy for healthy, nonsmoking individuals, in California, monthly premiums
|Company||Plan||Male - Age 30||Male - Age 40||Male - Age 50||Female - Age 30||Female - Age 40||Female - Age 50|
|Mutual of Omaha||Term Life Answers||$21.66||$33.47||$85.53||$23.41||$28.66||$64.09|
|Pacific Life||Pacific PROMISE Term||$20.84||$29.59||$77.09||$19.18||$26.68||$61.67|
|Protective||Custom Choice UL||$20.37||$28.91||$76.82||$17.93||$25.25||$55.75|
|Protective||Classic Choice Term||$20.21||$28.38||$75.68||$17.63||$25.94||$55.47|
|Prudential||Return of Premium Term||$101.00||$143.62||$291.99||$88.12||$130.04||$253.37|
|SBLI||Level Premium Term||$21.32||$40.05||$96.06||$24.48||$34.71||$65.87|
Annual Payment Discount
Payment methods available
Check; Auto bank draft; No credit cards accepted
Is coverage available without a medical exam?
What is the rule for converting the policy?
The policy is convertible until the earlier of the end of the term or to age 70. Conversion to guaranteed UL products available only after 2nd anniversary of term policy.
Is temporary coverage available?
Yes, up to $1,000,000
Riders are additions to your overall life insurance policy that turn a basic life insurance policy into something that covers more circumstances.
Child Protection Rider
Provides life insurance coverage for all eligible children.
Disability Income Rider
If you become totally disabled as a result of a qualifying event, you will not have to pay premiums for a fixed period of time.
Accelerated Death Benefit Rider
Allows you to receive a portion of the death benefit if you are diagnosed with a qualifying terminal illness.
This policy, like all term life policies offered on our site, provides life coverage for a specific period of time (the term). The key features of this policy are standard across all the term policies we offer:
The review on this page is only for this company's term life insurance products.