Principal® Guaranteed Issue Term II
Principal® Guaranteed Issue Term II

Offer your business clients a simple funding option designed to meet a variety of business needs.

GI Term II allows up to $5 million of coverage on a guaranteed issue basis, eliminating the hassle and uncertainty of medical underwriting. This product is approved in all states except New York and can be ideal for:

  • Executive carve-out coverage to supplement company-sponsored group life insurance.
  • Key person insurance to help the business recover costs associated with the loss of a key employee.
  • Buy-sell strategies to help fund business ownership transitions.
  • Supplemental coverage for participants of a nonqualified deferred compensation plan.
Watch key employee benefits video

Eligibility

  • 10 or more key employees/business owners (will consider groups of 5-9 if employer has Principal® group term life/voluntary term life or GSI DI)
  • Earning $75,000 or more annually
  • Working full-time (at least 30 hours per week)
  • Issue ages 20-70 with a weighted average no greater than 55
  • U.S. citizens working in the U.S. or an approved city country. Non-U.S. citizens working in the U.S. can be considered.

Target market

Small and midsized businesses in industries, such as:

  • Professional, scientific, and technical services
  • Construction
  • Manufacturing
  • Wholesale trade
  • Healthcare

Riders and endorsements

Learn more about the available riders and endorsements for GI Term II.

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 get started, contact your internal sales team at 800-654-4278.

Important information

Insurance products issued by Principal National Life Insurance Company (except in NY), Principal Life Insurance Company®, and the companies available through the Preferred Product Network, Inc. Plan administrative services offered by Principal Life. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392. Guarantees are based upon the claims-paying ability of the issuing insurance company. For financial professional use only. Not for public distribution.

Guarantees are based on the claims-paying ability of Principal Life Insurance Company.

Principal®, Principal Financial Group®, and Principal and the logomark design are registered trademarks of Principal Financial Services, Inc., a Principal Financial Group company, in the United States and are trademarks and services marks of Principal Financial Services, Inc., in various countries around the world. © 2022 Principal Financial Services, Inc.