July Product and New Business Underwriting Newsletter
Life Insurance
Underwriting updates: More capacity, plus a refined cardiovascular approach
We’re excited to let you know about a couple of recent underwriting enhancements that can help deliver better underwriting outcomes for you.
Expanded capacity offers greater placement opportunities.
We’re now even better positioned to support your larger, more complex cases:
- With expanded access via key reinsurers, we can offer $100 million or more in total capacity for a majority of products, rising to $115 million on select products.
View the details: Expanded Capacity Underwriting Program - We also have up to $20 million available on retention requests for most products.
View the details: Total underwriting capacity guidelines
Together, these updates provide more flexibility in structuring and placing bigger opportunities and can often eliminate the inconvenience of splitting cases across carriers due to capacity or retention limits.
Refined cardiovascular approach can lead to more competitive offers.
We’ve sharpened our cardiovascular risk assessment with a focus on improving outcomes for clients with well-managed cardiovascular profiles. The enhanced assessment approach features targeted refinement in areas including cardiac biomarker evaluation, non-obstructive coronary artery disease, and coronary artery calcium and serves to:
- Strengthen our process of assessing and differentiating risk across key cardiovascular indicators.
- Leverage emerging clinical insights and aligning with evolving market expectations.
- Take a more comprehensive and holistic view of clients’ overall health.
Questions?
Contact your underwriting team.
Billing process for upcoming 20-Year Term policy renewals
Principal® 20-Year Term policies (2006 series) issued in 2006 and beyond will soon be reaching the end of their initial level term period. Beginning in year 21, these policies will renew for successive one-year terms, at increasing premium rates. To help minimize the effect of higher renewal amounts, and to allow time for you to have discussions with your impacted clients about their long-term coverage options, billing for these policies will be set to the shortest billing period available (providing the lowest premium amount) prior to the start of policy year 21.
Reminder: Form submission best practices
Submit all new business and underwriting forms to PrincipalBusiness@exchange.principal.com or upload directly through the
These submission methods send forms directly into our workflow system for faster processing and help avoid delays.
Disability Insurance
Reminder: IDI New Business and Underwriting Emails
Select emails from our case management and underwriting teams will soon have an updated look and feel. Although formatting may change, the content and details will remain the same.
Emails will continue to come from the assigned case manager or underwriter, however, the sender email address will now display as: no-reply@alerts.mail.principal.com. Replies will go route directly to your assigned contact.