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Bonus Submission Guidelines

Take advantage of complimentary, administrative services from Principal by making sure your business is submitted to our Business Market Administration (BMA) department.


  1. Complete life insurance applications and accompanying life insurance illustrations, per NAIC regulations.
    • The client is typically the policyowner, and names their personal beneficiary. (Alternatively, the customer and beneficiary could be a trust established by the insured.)
    • Unisex rates should apply. (If not used, then complete Norris Letter of Understanding (BB4402)).
    • To obtain life insurance applications, visit the Create Application Packet page in Virtual Supply, or Principal Advisor Network offices may use Life E-App (for Term and Universal Life products only).

Note regarding annuities and mutual funds: Customers may also use personally owned annuities or mutual funds under the Principal® Bonus concept. However, BMA's case-level administrative services are limited to the support of our life insurance product line.

  1. Have the customer complete a Bonus agreement. You may refer to these sample agreements:
  2. To place ownership restrictions on a life insurance policy, complete a Request and Agreement To Restrict Owner's Rights Form (BB6217). 
  3. If trust-owned, submit Trust Certification and Indemnification form RF 971.
  4. Complete Business Case Submission Checklist (DD849R).
  5. For Guaranteed Issue or Simplified Issue Underwriting, include a copy of the Principal home office email or letter which granted approval for this underwriting program. If you're using GI Term, you can use these emails to communicate the implementation process to the employer (LF1334) and employee (LF1335). 
  6. Prepare a cover letter/memo if there are any special instructions or requests.
  7. Submit via fax or mail using the information in the Contact Us section below.

Important Information

Insurance issued by Principal National Life Insurance Co. (except in NY) and Principal Life Insurance Co. Plan administrative services offered by Principal Life. Principal National  and Principal Life are members of the Principal Financial Group®, Des Moines, IA 50392.


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