Group Disability and Life Insurance Claims: A Record of Results

“The person who handled my claim was the most helpful person I think I have ever had the pleasure of dealing with on the phone. He either went in on a holiday or a weekend to work on my claim. He got my claim done so quick and my check came so quick, I couldn’t believe it. This gentleman did a fabulous job.”

– Principal Life Disability insurance claimant

Principal Life Insurance Company is an industry leader in providing disability and life claim services. We pride ourselves in delivering individualized service to each of our customers. Our outstanding service is reflected by a strong record of results.*

Short-Term Disability (STD) Insurance

97% of our STD claims have an initial decision made within seven calendar days of the “Proof of Loss” date.
90% of calls to our toll-free line are answered within 20 seconds.
92.2% of claimants are very satisfied or satisfied with their Principal Life overall experience.

Learn about the benefits of Short-Term Disability Insurance.

Long-Term Disability (LTD) Insurance

All LTD claims are acknowledged within two business days.
99.2% of the claimants our Social Security Coordinators assist are approved for Social Security disability benefits.
75.98% of claimants receiving rehabilitation services return to work.
97.1% of claimants are very satisfied or satisfied with their Principal Life overall experience.
97% of claimants are very satisfied or satisfied with the accuracy of their claim payments.

Learn about the benefits of Long-Term Disability Insurance.

Life Insurance

91% of life insurance claims are paid within five working days.
97% of claimants are very satisfied or satisfied with their overall experience with us.
97.9% of claimants are very satisfied or satisfied with the accuracy of their claim payments.

Learn about the benefits of Life Insurance.

Claim Support

We have dedicated claim professionals in our Claims department. In addition, our Shared Resources area is comprised of nurses, vocational consultants, Social Security coordinators, overpayment unit, reporting team, special investigative unit, and CPA to meet specialized needs. The Group Disability Claims area is co-located with our Individual Disability Income Claims unit.

Learn about the Claim Management Services.

Average Tenure of Staff

Claims leadership (management and technical): 13+ years of service
Disability Examiners (both STD and LTD): 4.8 years
Life Examiners: 6.2 years

Average claim caseloads for fully trained staff

STD: 70 - 90
LTD: 80 - 90 (varies by specialty unit)
Life: 90 - 100
Nurse/vocational staff: 35, plus consultations

Staff ratios/counts

Nurse to LTD Claim Examiner: 1:5
Vocational Consultant to LTD Examiner: 1:5
Four Board Certified family physicians
Five investigators throughout the U.S.
Two Certified Public Accountants

“With the many problems and frustrations I have experienced in dealing with other companies as a result of my husband’s death, The Principal and its employees have been the complete opposite. Everyone has been prompt, courteous and competent. You would be an excellent example to other companies.”

– Principal Life insurance claimant

A quality company, personalized claim management, outstanding service, proven results – Principal Life offers it all.

*Source: Principal Life 2006 Customer Satisfaction Survey

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