Bonus - LLC Member Submission Guidelines
Take advantage of free, top-notch administrative services from Principal by making sure your business is submitted to our Business Market Administration (BMA) department.
- Complete life insurance applications and accompanying life insurance illustrations, per NAIC regulations.
- The insured is typically the policyowner, and names their personal beneficiary. (Alternatively, the policyowner and beneficiary could be a trust established by the insured.)
- Sex distinct rates should apply.
- 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: Clients may also use personally owned annuities or mutual funds under the Principal® Bonus - LLC Member concept. However, BMA's case-level administrative services are limited to the support of our life insurance product line.
- If trust-owned,
- Complete Business Case Submission Checklist (DD849R).
- 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.
- Prepare a cover letter/memo if there are any special instructions or requests.
- Submit via fax or mail using the information in Contact Us below.
- Write policy number and proposed insured's name in upper-right of both fax cover sheet and first page of application.
- Fax all documents in proper page order. If you have a payment, make photocopy of check and fax with application. Mail original check immediately to home office at one of the addresses below.
- Mail ONLY the following ORIGINAL documents to home office at one of the addresses below (always include cover sheet with policy number and proposed insured name):
- Initial premium payments;
- All 1035 exchange requirements, including Absolute Assignment (DD747), Lost Policy Statements, Internal Exchange Request (DD689), etc.
Principal Financial Group
P.O. Box 10431
Des Moines, IA 50306-0431
Principal Financial Group
ATTN: IPDC A-001-N20
711 High Street
Des Moines, IA 50392
Call your BMA Administrator at 800-654-4278, options 4, 2, 3 with any questions.
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.