Product, New Business, and Underwriting News – Life Insurance
09/03/2024
Offer a better onboarding experience for GI Term clients
We’re excited to let you know we’ve made enhancements to the onboarding process for Principal® Guaranteed Issue Term II employee-owned plans.
What's new?
The onboarding process is fully-digital – eliminating paper forms and the back and forth with clients that often occur with them. The online onboarding center allows organizations’ Key Decision Makers (KDM) to directly enter information about themselves, their organization, their plan, and census, as well as eSign required documents. And their employee/participants complete and sign their applications online. The process is faster and easier, creating a better experience for your clients – and you.
Online onboarding is available to you, too
You can access the onboarding center at principal.com, using your login credentials for the site. This enables you to complete or assist your clients through the process, access Plan Summaries and eSign them, and monitor implementation status.
If you don’t have login credentials, contact our financial professional website help desk at 800-654-4278 to get set up or submit an online request – select the topic “Login information or issue.”
View additional information about the onboarding process in the Onboarding OverviewOnboarding Overview.
Variable Universal Life (VUL) products sold in New York
New York (NY) requires specific preliminary information to be submitted with all new business applications for VUL insurance, including alternates, additionals, and product changes. The Preliminary Information page that prints with the original NY Illustration must be signed the same date as or prior to the application sign date for Principal Variable Universal Life Income IV℠ and Principal Executive Variable Universal Life III℠ products. A new application will be requested if the page is signed after the application signed date.
Additional life products coming to eApp on iPipeline
Using eApp ensures all necessary application forms are completed and submitted in good order, which can help speed up the issue process. Currently, Principal Universal Life Flex lll℠ is available on eApp. Soon, we’ll be expanding our offering by adding adding Principal Indexed Universal Life Flex II℠, Principal Indexed Universal Life Accumulation II℠ and Principal Universal Life Provider Edge II℠.