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Cross Purchase Buy-Sell 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.
    • Sex distinct rates should apply
    • To speed underwriting, submit the following:
      • A brief cover note to identify three things: (1) fair market value (FMV) of business and how this was determined, (2) the percentage of business ownership per proposed client, and (3) whether a Principal Life or Principal National app is being submitted for ALL individuals under the buy-sell plan, and if NOT, an explanation why.
      • Copy of business valuation or buy-sell agreement (if available).
    • 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).
  2. If trust-owned, submit Trust Certification and Indemnification form RF 971.
  3. Complete Business Case Submission Checklist (DD849R).
  4. Have the customer complete a buy-sell agreement. You may refer to these sample agreements:
  5. Prepare a cover letter/memo if there are any special instructions or requests.
  6. 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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