Hospital Indemnity

Principal^® hospital indemnity insurance helps supplement core benefits—like medical and disability coverage—to help employees handle expenses related to hospitalization and treatment due to a sickness or injury. Our coverage provides flexible design options to allow employers to tailor the benefits to employees’ needs. Some examples of covered benefits include daily hospital confinement, inpatient surgery, and therapy. And it pays a lump-sum cash benefit employees can use any way they choose.

States are in the process of being approved to offer hospital indemnity. See current state approvals. (GP63006) (PDF)

Key Features

•   Pays a lump-sum cash benefit when an insured employee or family member requires hospitalization or treatment related to a sickness or injury
•   Benefit is paid regardless of any other insurance coverage or actual expenses incurred
•   Proof of good health is never required
•   Employees can buy coverage for their spouse and/or kids
•   Choice of Health Savings Account (HSA) or non-HSA designs¹
•   A health screening/wellness benefit is available to encourage preventive care (not available in all states)
•   Portable coverage employees can take with them if they leave their employer (not available in all states)

¹ Principal^® does not make available products related to Health Savings Accounts.

Target Market

Participation requirements for hospital indemnity (must be sold with another coverage):

Employer-paid	Voluntary
100% for non-contributory 50% for contributory or 2 enrolled employees, whichever is greater	10% or 5 enrolled employees, whichever is greater

Employer Materials

Key materials listed below.

Product Details (GP63060)

Product overview and features for all states except Arizona and New Mexico.

View (PDF) • Order

Product Details - AZ (GP63060AZ)

Arizona product overview and features.

View (PDF)

Health Screening Benefit (GP62824)

Not approved for use in Arizona, New Mexico, or New York.

View (PDF) • Order

Supplemental Insurance Overview (GP61988LS)

Overview of Principal supplemental insurance products – critical illness, accident, and hospital indemnity insurance. Not for use in Arizona, New Mexico, or Oregon.

View (PDF) • Order

Next Steps

• Contact your local sales representative.

Important Information

For financial professional use only. Not intended for use with consumers or the public. HOSPITAL INDEMNITY INSURANCE PROVIDES LIMITED BENEFITS. This summary is not a complete statement of the rights, benefits, limitations, and exclusions of the coverage. Not available in all states.

2714484-022023

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