Bonus - LLC Member Submission Guidelines
Take advantage of complimentary, administrative services from Principal by making sure your business is submitted to our Business Market Administration (BMA) department.
Guidelines
- Complete life insurance applications and accompanying life insurance illustrations, per NAIC regulations.
- The client is typically the customer, and names their personal beneficiary. (Alternatively, the customer and beneficiary could be a trust established by the client.)
- 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, submit Trust Certification and Indemnification form RF 971.
- 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.
Important Information
Insurance products issued by Principal National Life Insurance Company (except in NY), Principal Life Insurance Company®, and the companies available through the Preferred Product Network, Inc. Plan administrative services provided through Principal Life Insurance Company®. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392.
For financial professional/institutional use only.
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