Financial Professionals Financial professional news Enhancing plan management for life business clients
July 07, 2025

Enhancing plan management for life business clients

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 is offering a more pro‐active, customized service offering to more new plans.1 Beginning July 7, 2025, new Loan Split Dollar, Buy-Sell, and Bonus plan customers can benefit from:

  • Proactive service and support. Plan sponsors will receive proactive service and support from the BMA team to help ensure the needs of their plan(s) and policies are being met.
  • Ongoing 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. A key enhancement to our plan management is the participant online access to the liability tracking of their deferred comp benefit. Previously, participants in SERP, Select Reward, and Endorsement Split Dollar plans had no way to view their benefit online.

Two forms will be required during onboarding:

Depending on plan type, the following additional documents will be required to provide personalized administrative service for your client:

  • Plan agreement(s)
  • Service agreement

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

1 Available to new SERP, Select Reward, Endorsement Split Dollar, Key Person, Buy-Sell, Bonus, and Loan Split Dollar plans when required documents are received. Existing customers will be added later in 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 provided 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.