Rocky Market Demands Mortgage Protection
July 29, 2008 (Des Moines, IA) — The vast majority of American workers (74 percent) admit to having little to no knowledge of individually-owned disability insurance according to the Principal Financial Well-Being IndexSM. This news doesn’t fare well when a disabling illness or injury could leave them without a way to pay bills or hold onto their biggest asset, their home.
Simplified Disability Insurance from the Principal Financial Group® is designed to protect individuals from the unexpected with monthly disability income to help pay living expenses including a home mortgage. Being “simplified” means having easier access to disability income insurance with limited underwriting requirements. Recent enhancements to the program allow clients to customize their policy with 13 different riders.
“Individuals need to protect themselves against the unexpected, especially during tough economic times. For many of us our homes are our biggest asset and that asset can be at significant risk should we become too sick or hurt to work,” said Candy Bidler, national vice president of individual disability for the Principal Financial Group. “Our simplified approach to disability insurance means faster turnaround so financial professionals spend more time with their clients and less time on administration.”
Through the simplified application process, no routine medical requirements or financial verification are needed. Upon completion of the application and short telephone interview, an underwriting decision is made within 48 hours. The process utilizes The Principal® TeleApp service where in-house specialists work directly with individuals to obtain all the medical information needed. Financial professionals are left with less paperwork and now receive full commission on the program.
Save Time with TeleApp Service
TeleApp is a voluntary service utilized by more than 95 percent of all individual disability insurance applications. The service has helped reduce underwriting time by 25 percent, making The Principal an industry leader. An in-house staff ensures questions are asked right the first time and information is gathered quickly and effectively. Individuals can schedule an interview ahead of time or by contacting a toll-free number (888-TeleApp) for an immediate interview. Financial professionals stay informed throughout the process and receive a copy of the completed interview.
For more information about individual disability income insurance from The Principal, producers should contact their Principal Financial Group representative or visit www.principal.com.
About the Principal Financial Group
The Principal Financial Group® (The Principal ®)1 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $304.2 billion in assets under management2 and serves some 18.8 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
About the Principal Financial Well-Being IndexSM
The index, which surveys American workers at growing businesses with 10 to 1,000 employees and retired Americans, is released each quarter by the Principal Financial Group® and conducted by Harris Interactive®. For more information, visit http://www.principal.com/wellbeing/index.htm
Insurance products and services issued by Principal Life Insurance Company.
1) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2) As of March 31, 2008
