Principal insurance belongs to the principal Financial Group. Founded in 1879, Principal Financial Group has 19.1 million customers World Wide, and a net income of $666.3 million (2010). To learn more about Principal insurance and its offerings, read this article.
An overview of Principal insurance
Founded in 1879, the principal Financial Group began life as Bankers Life Association. In the beginning, its focus was firmly on the insurance market.
By 1985, the company would change its name to the now famous Principal Financial Group, which covers every aspect of the business including pensions, investment, real estate management and insurance. Turnover While the group managed to turn over around $9.2 billion in 2010, with a net profit of $666.3 million as a dividend to Principal global investors, the insurance division also did pretty well. It turned over $164.4 million in life insurance, which is 21% increase on 2009 figures and $241 million on speciality benefit sales.
Principal insurance offerings
Business Dental Principal dental care makes provision both for employer paid coverage and voluntary paid coverage. Principal also runs a Preferred Provider organisation (PPO) of dentists throughout the US who supply dental services at approximately 25%discount.
It helps the individual who either cannot return to work or who has to accept restricted work, due to either a temporary or permanent disability.
Principal provides an array of helpful features to speed-up the claims process including an online submission form, claim review from an in-house medical team and an integrated claims service, which allows for a smooth transmission from a short-term to long-term disability.
As well as providing pay out to the bereaved, Principal also helps out with the insured during their illness. For example, they provided accelerated benefits in order to help terminal ill employees. There is also an express claims service and an option for either a single pay-out or an interest draft account, which allows for pay-out over time, combined with interest payments on the principal.
Vision This insurance can either be acquired on a voluntary basis from the employee or as benefit from the company under an employer payment scheme. It benefits cover routine issues to do with eye care such as testing and replacement glasses. Voluntary insurance It is a service which helps the employer to set up insurance services for their employees. The insurance is paid by the employees, while the employer pays a nominal administration fee. Personal
The same range of insurance provision is also available for individuals, by personal quest to the insurance company or via the employer voluntary program.