A leader in the business owner/employer market—particularly small and midsize businesses (SMBs)—Principal strives to deliver a positive customer experience at the point of sale, after the sale, and at claim time.
Our comprehensive and innovative solutions help businesses take care of their employees, their businesses, and the personal needs of their owners.
Work with our staff of business market professionals who serve nearly 140,000 companies
Principal group benefits help meet both employers’ budgets and employees’ needs. Employers can choose to pay for all, part, or none of the premium. We work with clients having primarily 2 to 500 employees and offer traditional benefits along with supplemental options that help enhance a benefits package, including:
| - Dental | - Life |
| - Vision | - Accident |
| - Short-term disability | - Critical illness |
| - Long-term disability | - Hospital indemnity |
| - Paid family and medical leave (PFML)
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And if business owners are looking to build a more comprehensive benefits package for key employees, Principal is one of only a few carriers to offer Guaranteed Standard Issue (GSI) disability insurance and Guaranteed Issue (GI) life insurance. This helps fill benefit gaps higher salaried employees may have.
Add all of this to the fast, convenient, and simple ways Principal offers to implement, enroll, and administer benefits such as:
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Digital implementation process for onboarding cases
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Electronic Data Interchange (EDI) services
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Application Program Interface (API) services
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Online access to employers and employee information
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Education and enrollment
With this products and services portfolio, it’s no wonder Principal is the no. 2 provider of group benefits
With decades of experience and thousands of business plans administered, Principal is uniquely positioned to help SMBs meet their financial needs, such as buy-sell and business transfer strategies, key employee benefits, business and income protection, and business owner estate and retirement planning. Businesses and financial professionals can benefit from the comprehensive solutions, expertise, and service we offer.
When you work with Principal, you enjoy value-add services that are uncommon in the industry, including:
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Complimentary informal business valuations and buy-sell agreement reviews.
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Direct access to experienced professionals: advanced solutions team of CPAs, attorneys, case design specialists; business case underwriters; dedicated sales team; plan administrators
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Comprehensive business plan administration at no cost to employer
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Fast and easy insurance coverage for busy business owners and key employees via underwriting programs that can provide coverage with no medical exams or labs for proposed insureds.
Offering a nonqualified deferred compensation (deferred comp) plan can help an organization recruit, reward, retain, and retire top talent. And as the no. 1 provider for nonqualified deferred compensation (409A) clients
Whether you’re setting up a new plan or looking for more from an existing one, we’re here to help by featuring:
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Innovative plan design and consulting. Benefit from our focused approach that seeks to understand the goals of the organization and customize a plan designed to meet their needs.
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Multiple funding options. Select from corporate-owned life insurance (COLI), taxable investments, company cash, or dual-financing (combination of COLI and taxable investments).
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Efficient plan onboarding. Get a tailored action plan, including a strategy for educating plan participants.
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Dedicated plan administrative services. Take the complexities out of plan administration and decision-making with our expertise, consultation, and responsiveness.
To learn more about our offerings, check out the links to the right.