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When you shop for life insurance through Quotacy, you have access to the country’s top-rated life insurance companies. Is Principal the right term life insurance company for you? In this video, we review Principal Financial to help you make an informed buying decision.

Video Transcript

Hey everyone we’re Jeanna and Natasha. We work at Quotacy.

Quotacy is an independent life insurance broker. This means we have the ability to sell policies from multiple life insurance companies, giving you more options.

Today we’re gonna give a review of Principal Financial, one of the life insurance companies we work with. Principal is a global company headquartered in Des Moines, Iowa. Principal has been around since 1879.

Overall, Principal is a great company that excels at covering children with health impairments. They are all-stars at doing the right thing for families.

Quotacy only works with top-rated life insurance companies which means they are rated A or better and Principal is no exception. Being A rated or better means the company is financially secure so you won’t have to worry about your policy’s death benefit not being paid.

To stand out in the competitive life insurance industry, some companies cater to different health or lifestyle niches. Principal is excellent for applicants with ADHD, pilots, and children with health issues.

This means that while some companies may see these particular factors as higher risk than normal Principal is a bit more lenient.

Let’s talk about what we like in regards to Principal’s policies and buying process.

Principal’s level term product is sold in term lengths of 10, 15, 20, and 30 years. The smallest amount of term life insurance you can purchase is $200,000.

Overall, Principal is a great company that excels at covering children with health impairments. They are all-stars at doing the right thing for families.

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And depending on the life insurance product, there will be different policy riders available. Life insurance policy riders are additional benefits that you can add on to your policy at the time of purchase. Principal’s term policy offers an accelerated death benefit rider, premium waiver for disability rider, and a child rider.

Let’s break these down.

An accelerated death benefit rider, also called a terminal illness death benefit rider, is included in Principal term policies at no charge. This rider gives you access to a portion of your policy’s death benefit if you were diagnosed with a terminal illness resulting in 12 months or less to live.

A premium waiver for disability rider is available on Principal term policies for an additional cost. With this rider, Principal will waive your premium payments during a period of total disability lasting six consecutive months or more.

A child rider is available on Principal term policies for an additional cost. For as little as $50 per year, a child rider provides $10,000 in life insurance coverage on all of your children less than 18 years of age. It also would include any future children you may have or adopt.

One thing to note regarding Principal’s child rider is that they do not require any medical or lifestyle information about your children when approving the rider. This means that even if you have a child with health issues such as Down Syndrome or perhaps a lifestyle concern, such as undergoing treatment for a drug problem, you can obtain life insurance coverage on your child through Principal.

If you’re looking for life insurance, Principal is a good option. If you have a ADHD, are a pilot, or have child with health impairments, then Principal is a great option.

When you apply through Quotacy, we’ll review your application to double check that you’ve chosen to apply with a company that will give you the most favorable outcome. The final choice is of course 100% your decision. We simply aim to be completely transparent And make sure you know all of your options.

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If you’re interested in any of the riders we mentioned, let your Quotacy agent know after you apply. They’ll let you know the exact cost of any rider you want to purchase and can add it to your policy during the buying process.

Quotacy can help you can life insurance from Principal or any other top-rated life insurance companies we work with.

And why should you get life insurance through Quotacy?

Our agents are licensed in all 50 states and they work on salary, not commission, so we’ll never try and upsell you. We work for you, not the insurance companies. You won’t pay any extra fees or charges to use our services.

Get a free, instant term life insurance quote now from multiple top-rated life insurance companies without giving away any contact information. Bye!


About the writer

Headshot of Natasha Cornelius, a life insurance writer, for Quotacy, Inc.

Natasha Cornelius

Writer, Editor, and Co-host of Quotacy's Q&A Fridays

Natasha is the content manager and editor for Quotacy. She has been in the life insurance industry since 2010 and has been making life insurance easier to understand with her writing since 2014. When not at work, she's probably studying and working toward her Chartered Life Underwriter (CLU) designation while throwing a tennis ball for her pitbull mix, Emmett, or curled up on her couch watching Netflix. If it’s football season, the Packers game will be on. Connect with her on LinkedIn.