Enhancing Your Employee Benefits Package

The Need

As a successful business owner, you have a responsibility to keep revenue high and overhead low, as well as to protect your employees. You probably also look for ways to attract and retain quality employees through a strong and competitive benefit package.

If a disability were to strike one of your employees, you both have a lot to lose:

You can lose: Replacement costs Revenue Productivity Good morale

Employees can lose: Current standard of living Their home Peace of mind Insurability Retirement savings and other assets

What about group disability insurance?
While it’s a good start, group long-term disability (LTD) coverage alone may not be enough if a disability were to strike.  Benefits typically only cover up to 60% of prior earnings, and after taxes it’s even less than that.

The Solution

Complete your benefit offering with Individual Disability Income (DI) insurance.

• If three or more of your employees purchase coverage, everyone receives a 20% Multi-Life Discount^[2] based on gender neutral rates. 
• You can offer coverage on an employer-paid (partial or full) or voluntary basis.
• Many underwriting programs are available

The Benefits

Your benefits

• If premiums are paid by the company they are tax deductible to the company as a fringe benefit expense 
• A 20% Multi-Life discount is given based on unisex rates
• Possible underwriting concessions on cases with at least 25 lives
• Flexible billing options, such as payroll deduction or Electronic Funds Transfer
• Worksite enrollment available
• Seamless administrative services

Employee benefits

• Can integrate with group LTD insurance to protect a greater portion of income
• Less expensive premiums through the 20% Multi-Life discount
• Portable policy and discount
• Premiums and benefits are guaranteed through age 65

For other employee benefit solutions, visit the Insurance page.

Contact your financial representative today! Don't have one? Locate one through our Office Locations section.

^[1]

The Principal Financial Well-Being Index^SM, 2010.

^[2]

The Multi-Life Discount is not available for Key Person Replacement, Overhead Expense and Disability Buy-Out policies written in Ohio. This includes any Multi-Life discount given for fully underwritten, Simplified multi-life and Guaranteed Standard Issue cases. Policies taken on these products will not count towards the three lives qualification for multi-life in Ohio.

Disability insurance has limitations and exclusions. For costs and complete details of coverage, contact your Principal Life financial representative.

Policy Form #s HH641/HH750
Approval t10083003hf