Group Life Insurance

Coverage to protect your employees and their families

Life insurance provides employees and their loved ones with financial protection when they need it most—to cover immediate final expenses, everyday living expenses, and long-term obligations in the event of a death.

Principal Life Insurance Company, a member company of the Principal Financial Group®, offers a full portfolio of flexible options. You can pay all, part, or none of your employees’ premiums. No matter what coverage you offer, we provide strong support for beneficiaries and timely, accurate payment of claims.

Talk to your advisor about offering group life insurance. 

Custom packages for your business

Combine employer- and employee-paid coverage to create a life insurance program that works for you, and take advantage of discounts for offering both coverages.

Flexible insurance protection may include:

  • Guaranteed coverage (no health questions asked)
  • Spouse and dependent coverage (up to age 26)
  • Accelerated benefits for terminally ill employees1
  • Flexible waiver of premium options for qualifying disability claims
  • Optional Accidental Death & Dismemberment (AD&D) coverage
  • Free access to a Will & Legal Document Center to prepare will, living will, and power of attorney documents2
  • Express claims process for qualified claims up to $50,000

Employer-paid term life insurance

  • Benefit options including flat amount, percentage of salary, or combination
  • Coverage up to $1 million
  • Individual purchase rights that give terminated employees continued coverage
  • Travel assistance for employees and their families

Employee-paid term life insurance

  • Available as sole coverage or as an add-on option to an employer-paid program
  • Coverage up to $500,000
  • Ability to increase coverage during annual enrollment
  • Portability options allow employees to retain coverage after leaving their jobs

Combine life insurance with disability insurance to offer comprehensive benefits.

Do you offer employee benefits through us?

Manage your benefits online.

Benchmark Your Employee Benefits

See how your company's benefit design compares to other companies like yours.

Need to submit a claim?

You have a variety of options:

Or call us at 800-245-1522 for help in English and 800-243-1404 for help in Spanish.

1 There are possible tax consequences to receiving an accelerated benefit payment. Consult a tax advisor for details. Receipt of accelerated benefits could also affect eligibility for public assistance.

2 These value-added discounts and services are not a part of the insurance contract and may be changed or discontinued at any time.

This summary is not a complete statement of the rights, benefits, limitations and exclusions of the coverage described here.  For cost and coverage details, contact a Principal Life representative.