Individual Disability Income Insurance Guaranteed Standard Issue

Individual disability income insurance

Guaranteed Standard Issue

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Guaranteed Standard Issue (GSI) Disability Income (DI) insurance is an employer-sponsored benefit plan that provides Standard coverage for an entire employee group with virtually no medical underwriting. Employers can choose the enrollment option that works best for them—eEnrollment or Census Enrollment (not available in all states).

Eligibility

  • Five or more key employees/business owners
  • Earning $75,000 or more annually
  • Occupation classes 3A and above
  • 100% participation of eligible employees in designated class
  • Employees meet actively at work requirements (actively at work in their current job for 90 consecutive days without medical restrictions, reduced hours, or modified work duties prior to application)
  • Issue ages 18-80 (ages 65-80 require underwriting approval)

Target market

Small and midsized businesses in industries, such as:

  • Professional, scientific, and technical services
  • Construction
  • Manufacturing
  • Wholesale trade
  • Healthcare

Product

The GSI plan is funded with Principal® Income Protector DI insurance (HH750 in CA and NY) that pays a monthly benefit when an insured is too sick or hurt to work. This product features:

  • Competitive rates, including a multi-life discount
  • A selection of riders
  • Full portability if the employee leaves the company

Working with Principal®

Principal is proud to be part of the local community. Being in your market allows us to understand your market's specific needs, create solutions to help solve your challenges, and develop close relationships.

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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 offered by Principal Life. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392. Guarantees are based upon the claims-paying ability of the issuing insurance company. For financial professional use only. Not for public distribution.