Terminal Funding New Business Kit
Principal Life Insurance Company has been in the terminal funding business for more than 50 years.
Our Single Premium Guaranteed Annuity Contract (SPGA) is generally used to fund retirement benefits that were earned, through a defined benefit pension plan, as a result of:
- Plan termination
- Partial plan termination
- Layoff of inactive liability - annuities are being purchased for inactive participants (retired and/or terminated vested) of an ongoing defined benefit plan
General information
- Defined Benefit standard plan termination summary of procedures (PDF: 121 KB)
- Single Premium Guaranteed Annuity Solution (PDF: 146 KB) - Find out how can a Single Premium Guaranteed Annuity Contract (SPGA) can meet your client's needs
Request a quote
- Request for Single Premium Proposal (Word: 424 KB) - Outline of the plan provision information, along with the miscellaneous information needed to prepare a quote. If we are to include deferred participants (active and/or terminated vested) in our quote, we must mirror and preserve the protected benefits in the plan.
- Single Premium Data Format Excel File (Excel: 19 KB) - How to provide the participant data to us.
- Sample (Specimen) Proposal (Word: 306 KB) - Sample of the Single Premium proposal you'll receive from us.
- Q&A (PDF: 120 KB) - Commonly asked questions and answers
Post-Placement and Services from The Principal
- An Annuity Provider You Can Rely On (PDF: 214 KB) - Demonstrates our alignment to the Department of Labor Interpretive Bulletin 95-1.
- Administrative Fact Sheet (PDF: 122 KB) - Summarizes our service capabilities.
- Installation Process and Timeline (PDF: 110 KB) - This guide outlines the steps involved with the contract installation once placed with The Principal.
- Sample of "post-placement" forms required to be signed and/or completed once placement occurs with Principal Life. These forms include:
- Acceptance/Disclosure Statement (Word: 347 KB)
- Response & Checklist Form (Word: 388 KB)
- Wiring Instructions (Word: 66 KB)
- Sample (Specimen) Contract (PDF: 327 KB)
- Sample (Specimen) Certificates:
- Participation Certificate (PDF: 291 KB)
- Retirement Certificate (PDF: 328 KB)
Insurance products and plan administrative services are provided by Principal Life Insurance Company, a member of the Principal Financial Group® (The Principal®), Des Moines, IA 50392.
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