Key Person Replacement Insurance

Help employees continue to save for retirement during a disability.

A Key Person Replacement (KPR) insurance policy (HH772 ) provides benefits to a business if a key employee critical to the success of the business becomes totally disabled. Benefits can be used at the discretion of the employer. The policy is conditionally renewable to age 65 with guaranteed premiums. Plus, policies do not reduce the amount of personal individual Disability Income (DI) coverage a key person may qualify for.

Use the key person calculator to help determine the approximate DI benefit amount available and the cost of coverage. For greater risk protection, use the calculator to get a quote for both insurance and key person life insurance.

Target market

Small to midsize businesses with:

  • Owners and employees with unique knowledge/skills
  • Typically covers owners, corporate executives, medical professionals, attorneys, engineers, and other professionals
  • Key person life insurance in place or being considered

Business customer profiles (PDF)

Get an application

Working with Principal®

We’re more than just products. It’s about the service you’ll receive from Principal and the experience, education, and ease of doing business to help you succeed with IDI.

  • Get direct access to your internal sales team: 800-654-4278.
  • Access underwriting and submitting business resources: 800-654-4278, options 3,3.
  • Get claims information: 800-654-4278, options 4,3,4.

Important information

For financial professional information only. 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 your Principal® representative.

3150439-102023