Principal: New premium rates for guaranteed UL and survivorship UL products


New premium rates will be effective June 8 for Principal Universal Life Protector V and Principal Survivorship Universal Life Protector III. The challenging economic environment makes a pricing adjustment necessary as follows:

  • On average, UL Protector V single and 10 pays will increase 13-14%, and level pays will increase 4%.
  • On average, SUL Protector III rates will increase 11-12% for all premium scenarios.

The guidelines below provide key dates for the transition from original rates to new rates.

June 8, 2020: New rates are effective in all states. Principal will accept applications for policies with original rates until June 15, 2020. All requirements, including premium, must be received in the home office within our normal processing timeframe.

June 16, 2020: All applications received in the home office on or after this date will be issued with new rates. No exceptions will apply.

Backdating: Normal rules apply for backdating to save age. However, if the application is received after June 15, the policy will be issued with new rates even if backdating results in an issue date prior to the effective date of new rates.

All transition guidelines apply to term conversion applications for UL Protector V and SUL Protector.

To get original rates, an application must be received in the home office by June 15, 2020, and all requirements, including premium, received within Principal's normal processing timeframe.