Principal: Paper Application Part B to be Discontinued
With Principal, your clients have two fast and easy ways to complete part B of their life and individual disability insurance (IDI) applications – online or via TeleApp (questions are answered over the phone). These options account for the majority of application submissions. Due to the many benefits the online and TeleApp options offer – quicker turnaround times, fewer amendments, and a better overall customer experience – Principal has made the decision to discontinue use of the paper Part B. Effective June 5, 2023, Principal will no longer accept a paper part B for life or IDI applications. Any paper Part B’s currently in process should be submitted to the home office before June 5.
Getting started using online Part B or TeleApp is easy for you and your clients. When you have an application, simply use Request Part B to initiate the process to have the client either complete Part B online or via a TeleApp interview. If you have questions or need assistance, please contact our sales team at 800.792.6795.