Protect your Business Clients with Guaranteed Issue Term!


Principal now offers an innovative program that’s a simple and affordable funding option to meet a variety of business needs. This program allows up to $5 million of individual Principal Term coverage on a Guaranteed Issue basis.  This program is for Business-use only (business-owned or sponsored) and 25 lives minimum, with 100% participation by eligible employees

Key program highlights

  • Each insured is covered by an individual term life policy with guaranteed level term premiums for 10 or 20 years (depending on plan design).
  • Policies are issued on a Guaranteed Issue basis—eliminating the hassle and uncertainty of medical underwriting.
  • Policies can be converted in the future to permanent insurance with no proof of insurability. (See conversion requirements below.)
  • Comprehensive plan and policy administration services through Business Market Administration.
  • Direct access to a team of professionals experienced in business solutions sales, case design, and underwriting—and can help you through each step of the sales process

Who can benefit?

Businesses in industries like law, architecture/engineering, healthcare, financial services, and manufacturing that could benefit from the following common needs:

  • Key person insurance to help the business recover costs associated with the loss of key executives.
  • Buy-sell strategies to help facilitate ownership transitions.
  • Supplemental coverage for participants of a nonqualified deferred compensation plan.
  • Executive carve-out coverage to supplement company-sponsored group life insurance.

Ready to get started?  Give us a call at 1-800-792-6795, and ask for a Guaranteed Issue/Simplified Issue Underwriting Inquiry (Principal form DD9072) to start the process.