Principal- September 30 deadline

Principal recently announced key decisions from a strategic review that support ongoing growth and enable the company to offer meaningful products and services.   

As their focus transitions to the business market, Principal must receive any applications or drop tickets for retail business by September 30th, 2021. Once received, the company will work to get the cases underwritten and placed inforce in a timely manner. In most instances, this will be by year-end.  

However, as long as the application is received by September 30th, there is no particular cutoff date to have policies inforce as long as normal requirement receipt dates are met.

After September 30th, Principal will continue to accept business life insurance applications. The definition of a business policy is that the premium payment will be paid from a corporate checking account (corporate-owned life insurance, split-dollar, or personally-owned executive bonus plans would be acceptable).  

If you have any questions about this announcement or any concerns about a particular Principal policy, please contact us at ubs@ubsnet.com or 412-281-0600