Principal Life Insurance Review 2020


Review of Principal Life Insurance by Top Quote Life Insurance
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Principal Life Insurance is one of the world’s most ethical companies, but what exactly does that mean when it comes to insurance? Read on to find out more information and decide if they have the right plan for you.

It’s easy to push off deciding on life insurance. No one wants to think about the fact that they’re going to die, and they definitely don’t want to think about what could happen after they’re gone.

The unfortunate fact is that death has become expensive in the United States. Life insurance is a great way to make sure that your loved ones won’t have to worry once you’re gone. There are a lot of options, so today we’ll be taking a closer look at Principal Life Insurance.

What Principal Life Insurance Has To Offer Customers

Principal is a well-established insurance company. They’ve been around since 1879, when they were founded in Des Moines, Iowa. Now, they’re one of the top providers of insurance plans in the world. Although we’ll be focusing on their life insurance plans, they also offer things like retirement and disability insurance. Principal Life Insurance Quotes

You can trust them to manage your money — A.M. Best has given them an A+ rating. There won’t be any issue with paying out claims, unlike other companies who could take months or even years to finally pay the benefits to your family.

And there’s plenty of money to go around. Principal Life Insurance has over $629 billion dollars in assets, offices in 18 countries, and insures millions of people.

They’ve spent a long time building up success and trust in the industry, and it’s clearly been worth it so far.

Life Insurance Options with Principal

Principal Life Insurance offers two main types of life insurance: term and permanent. Term insurance will give you coverage for a specific period of time, while permanent insurance offers more long-term coverage.

Which one you choose will depend on things like your age and what you want to be covered.

Term Life Insurance

Term life insurance is great for people with tighter budgets, or for young families who are just starting out. You can also use this option if you want your life insurance to cover expenses that will go down with time.

If you want it to cover your mortgage, for example, or college costs for your kids, term insurance might work well for you.

Principal Life Insurance offers 10, 15, 20, and 30-year term lengths, so you can choose the one that works best for your needs. This insurance type will also have lower rates.

Permanent Life Insurance

If you have a family who you want to provide for after you’re gone, you’d want to look into Principal’s permanent life insurance. This is also a good option for younger people who are willing to take risks with cash. You’ll pay a higher initial premium, but the benefits would be worth it.

This covers major expenses like your estate or providing for a family. It can also help you grow cash value over time.

Principal Life Insurance offers three different types of permanent life insurance to fit a variety of budgets and needs: Guaranteed Universal Life, Variable Life, and Survivorship Life Insurance.

Who Qualifies?

You’ve probably heard horror stories of people who weren’t able to get affordable health insurance because of previous health conditions.

Someone who had a heart attack, for example, is now either uninsurable or can’t be insured at a rate they can actually afford.

On the other side of the coin are healthy people who have to go through all sorts of medical tests just to prove that they are insurable.

Principal recognizes these struggles and has plans in place to help as many people as possible get insurance coverage.

Many potential applicants could qualify for their no medical exam program. Principal realizes that about half of the people who apply for life insurance are already healthy enough that they don’t need an exam or blood work.

How do they figure out who can skip the doctor’s office? They check the Medical Information Bureau (MIB), the DMV, and the prescription databases.

Basically, if you haven’t had any major health scares, have a clean driving record, and are only taking prescriptions for common sicknesses, you can apply for Principal Life Insurance without undergoing blood tests or a medical exam.

Anyone from ages 18-60 can qualify for this program and select a policy of up to one million dollars — plus, you can still qualify for preferred rates, which most other no medical exam companies don’t offer.

If you do have a preexisting condition, you would have to undergo a medical exam, but it wouldn’t hurt you so much financially. They offer excellent rates for people with a family history of illness, recent weight loss, and high blood pressure, along with other conditions.


Once you become a policyholder, you can expect good customer service and benefits from Principal. They put their policyholders first.

Term life insurance plans are convertible, so you can choose to make your life insurance permanent if you want to. There is a cost associated with this change, and you’d be subject to certain terms, but the change is possible.

With the exception of suicide within the first two years, which is standard across companies, there are no exclusions to their policies. And there’s no risk for you if you change your mind about which company you’d like to work with. If you no longer want your policy, you can cancel whenever you want — but Principal can never cancel on you.

As far as customer satisfaction goes, Principal Life Insurance ranked 8 out of 21 insurance companies for satisfied customers.

Our Final Thoughts

Not only does Principal offer great benefits, but they also do so at a fair cost to the consumer. (That’s probably why the Better Business Bureau has also given them an A+ rating.)

Their term policies are an especially great value when you compare them to the death benefit coverage you’d get with a permanent life insurance policy.

You can get a five percent discount if you pay annually instead of monthly, and there are a variety of discounts available for people who are exceptionally healthy.

They definitely seem to have earned their stellar reputation. Principal Life Insurance is one of the best companies to give you peace of mind and that is why Top Quote Life Insurance has named them as one of the Top 25 Best Life Insurance Companies available.

Now that you’ve learned more about Principal Life Insurance, you can decide if the company might be the best option for your needs. Use the calculator to the right to check out potential rates, or contact us if you still have questions.

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Jeffrey Manola

Jeffrey Manola

Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance.

Not only does he strive to provide you with the best rates for your life insurance coverage, but he also wants you to be well informed about the different types of life insurance options that are available. You will also find a significant amount of valuable information on the multiple life insurance companies that can provide you with coverage.

Jeffrey Manola is licensed to provide expert advice and help aid in the purchasing process of life insurance products. He is licensed with the National Insurance Producer Registry (NIPR) in the following states:

AL: 790866 AR: 14358927 AZ: 14358927 CA: 0K29801 CO: 531038 CT: 002536246 DC: 3000281706 DE: 3000190912 FL: W383615 GA: 3089339 HI: 482421 IA: 14358927 ID: 646048 IL: 14358927 IN: 3100885 KS: 14358927 KY: DOI-986908 LA: 758187 MA: 2045330 MD: 3000011601 ME: PRN252004 MI: 14358927 MN: 40427014 MO: 8428106 MS: 10519253 NC: 14358927 ND: 14358927 NE: 14358927 NH: 2434852 NJ: 1562332 NM: 14358927 NV: 3299018 NY: LB-1484031 OH: 1117369 OK: 100293583 OR: 14358927 PA: 740709 RI: 3000183893 SC: 14358927 TN: 2383399 TX: 1969337 UT: 648983 VA: 987464 VT: 3426230 WA: 947010 WI: 14358927 WV: 14358927

Never hesitate to reach out to Jeffrey if you need help. Top Quote Life Insurance is more than just an online quoting agency. We want to help you save money, protect your future, and earn your trust (888) 777-7574.

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Life Insurance Rates?

Purchasing Life Insurance has never been easier

Or give us a call...888-777-7574