Affiliation Discount
The Affiliation Discount1 allows you to offer individual Disability Income (DI) insurance with a 10% discount when individuals share these common affiliations:
- Families with at least three income earning adults that purchase DI coverage from Principal Life Insurance Company®
- Three or more Form 1099 contractors from the same business entity/firm2
- Three or more franchise owners under the same nationally recognized franchisor who are actively working in the business2,3 (can also include one key employee)
- Spouses of employees (does not require three lives) who are part of a Principal Life multi-life case
1 Discount may not be available in all states. Not available in California.
2 Not available to doctors (M.D., D.O.), physician’s assistants, psychiatrists, nurses (RN or LPN), nurse practitioners, CRNAs, nurse anesthetists, or other hospital/medical workers. Spouses can work in the medical field, but cannot be 1099 contractors.
3 Not available to owners or a key employee of home-based or route sales franchises or investors.
| Franchise Owners | 1099 Contractors | Spouses/Families |
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Any occupation that Principal Life currently offers coverage - except Form 1099 physicians |
- Issue ages: 18-60
- 10% discount
- Gender-specific rates (gender-neutral in Montana and Massachusetts).
- Mental/Nervous & Substance Abuse Disorder rider—must be selected up front and decision applies to all
- Solutions:
- Talk to clients with adult children who work at least 30 hours per week about purchasing individual DI coverage for themselves and their children.
- Reach out to existing multi-life cases to see if spouses are interested in individual DI with up to a 20% discount.4
- Approach employers about offering individual DI as an employee benefit. Discuss how you can offer the Multi-life Discount for employees and Affiliation Discount for Form 1099 contractors. Both options easily wrap around existing disability coverage. Premiums can be paid by the employer, the employee/Form 1099 contractor, or a combination of both.
- Reach out to local franchises with multiple locations owned by different people about income protection.
4 Discount includes a 10% Affiliation Discount and up to a 10% Mental/Nervous & Substance Abuse Disorder discount.
Key materials listed below.
DI Coverage for Adult Child – Parent Flier (JJ2113)
This flier outlines how parents can protect their income and their adult children's and save money with our discount.
View • Order
Contractors – Franchise Owner Flier (JJ2157C) - customizable
This flier outlines how Form 1099 contractors and franchise owners can be eligible for a 10% Affiliation Discount. View the PDF to customize and order.
View • Customize
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