Enero 06, 2025

Life business plan administration enhancements

Business Market Administration (BMA) provides complimentary service for employer-owned or employer-sponsored plans. This team is here to help make it easier for you to get these plans implemented—and retain them.

As part of our continued effort to improve the experience for you, the plan sponsor, and participants, BMA now offers more a more pro‐active, customized service offering :

  • Proactive service and support. Plan sponsors will receive proactive service and support from the BMA team who will work with their financial professional to help ensure the needs of their plan(s) and policies are being met.
  • Education. Plan sponsors will have a better understanding of what they purchased and how it’s working to accomplish their business goals.
  • Employer digital experience. We’ve enhanced our online experience to help plan sponsors and participants better manage their plans and policies online —offering quick access to summary annual reports, payment options, policy census information, customer service forms, and more as applicable.
  • Participant digital experience for SERP and Select Reward plans. A key enhancement to our plan management is the participant online access to the liability tracking of their benefit. Previously, participants in these two plans had no way to view their benefit online.

Two forms will be required during onboarding:

For more information: Business Market Administration, 800-654-4278, options 4, 2, 3.

Footnotes

Starting with new Deferred Comp–Select Reward, Deferred Comp–SERP, Endorsement Split Dollar, and Key Person plans. More plan types and existing customers will be added throughout the year. Starting with new Deferred Comp–Select Reward, Deferred Comp–SERP, Endorsement Split Dollar, and Key Person plans. More plan types and existing customers will be added throughout the year.

For financial professional/institutional use only.

Principal National Life Insurance Company and Principal Life Insurance Company®, Des Moines, Iowa 50392-0001.

Insurance issued by Principal National Life Insurance Company (except in NY) and Principal Life Insurance Company, and the companies available through the Preferred Product Network, Inc. Plan administrative services offered by Principal Life. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker/dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392.