Coverage to protect your employees and their families
Life insurance provides employees and their loved ones with financial protection when they need it most—to cover immediate final expenses, everyday living expenses, and long-term obligations in the event of a death.
Principal Life Insurance Company, a member company of the Principal Financial Group® (The Principal®), offers a full portfolio of flexible options. You can pay all, part, or none of your employees’ premiums. No matter what coverage you offer, we provide strong support for beneficiaries and timely, accurate payment of claims.
Custom packages for your business
Combine employer- and employee-paid coverage to create a life insurance program that works for you, and take advantage of discounts for offering both coverages.
Flexible insurance protection may include:
- Guaranteed coverage (no health questions asked)
- Spouse and dependent coverage (up to age 26)
- Accelerated benefits for terminally ill employees 1
- Flexible waiver of premium options for qualifying disability claims
- Optional Accidental Death & Dismemberment (AD&D) coverage
- Free access to a Will & Legal Document Center to prepare will, living will, and power of attorney documents 2
- Express claims process for qualified claims up to $50,000
Employer-paid term life insurance
- Benefit options including flat amount, percentage of salary, or combination
- Coverage up to $1 million
- Individual purchase rights that give terminated employees continued coverage
- Travel assistance for employees and their families
Employee-paid term life insurance
- Available as sole coverage or as an add-on option to an employer-paid program
- Coverage up to $500,000
- Ability to increase coverage during annual enrollment
- Portability options allow employees to retain coverage after leaving their jobs
Combine life insurance with disability insurance to offer comprehensive benefits.