Small business solutions

Scalable solutions for your small business clients

Offering multiple solution options from one carrier can lead to a seamless and efficient experience. Complement your client’s major medical offering with comprehensive insurance and retirement solutions from Principal® and help make it easier for you, your client, and their employees.

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Leverage our business market expertise

Small businesses are faced with needs for their employees, their business owner(s), and their business itself. Listening for and identifying these needs, and how they evolve over the lifecycle of a small business, is the first step. Working with a carrier that can deliver a wide range of insurance and retirement solutions builds a foundation for continued collaborations with cross-selling opportunities.

Instead of hunting around for solutions to the common needs below, turn to Principal for comprehensive options for group benefits, business and owner protection, and retirement plans. Walk your clients through their future needs and the solutions from Principal—this employer guide can help!

 

Employee needs

  • Saving for retirement
  • Access to benefits and insurance
  • Personal investing 
  • Key employee extended protection

Business owner needs

  • Exit and succession planning
  • Business continuity
  • Personal insurance
  • Planning for retirement

Business needs

  • Attracting and retaining talent
  • Helping to protect business success from loss of key employee
  • Managing risk across a partner structure
  • Assessing business value
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In a recent research study, employers of less than 100 employees said that the top three ranked priorities are business protection, health and wellness solutions, and key employee benefits.
Take advantage of key differentiators from Principal

Scalable solutions from Principal are backed by a track record of excellent service informed by deep small business expertise.

  • Local service teams that are knowledgeable, accessible, and focused on your small business clients
  • Streamlined onboarding experience that make it quick and easy for you and our client
  • Participant service that is personalized, professional, and available across multiple channels
  • Online account management with mobile app capabilities make it easy to find information and take action
  • Consolidated billing for group benefit solutions simplifies accounting
  • Renewal stability for group benefit solutions
Solution options from Principal
Group benefits

Solutions

Flexible insurance solutions that complement your client’s major medical insurance create a well-rounded employee benefits package that helps them stand out as an employer of choice. Keeping their suite of supplemental insurance options with one carrier makes it easy and seamless for you, your client, and their employees.

With seven group insurance products and employer-paid or employee-paid options, you can create a benefits package designed to meet your clients’ needs. The multi-product discount makes it’s cost-effective to combine coverage.

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Key resources for you:

Key resources for business clients:
Business and owner protection

Solutions

Beyond group benefits, insurance solutions can help your clients protect their business, their employees, and the business owners’ lifestyle.

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Key resources for you:

Key resources for business clients:
Retirement plans

Solutions

Small business and tax-exempt retirement plans can be a valuable way to increase and diversify your revenue. But we understand you also want to be efficient when you work with smaller employers. That’s why we focus on simple retirement plan features that can be set up quickly and don’t cut back on services or options.

Retirement plan solutions for small business include:

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Key resources for you:

Key resources for business clients:

Contact Principal

 

Lisa Vanderpluym-Demmer

Strategic Relationship Manager — Firm Relations

1.515.645.3981

vanderpluym.lisa@principal.com

 
Guides on trending issues

Get free step-by-step guides informed by Principal expertise and the experiences of employers like you.
Expertise you can trust

No. 2 provider of total group benefits (dental, life, vision, disability, accident, critical illness, hospital indemnity) insurance

No. 1 in small case business life insurance

144,000+ total Principal small and midsize business customers

Footnotes

The 2025 Principal Business Owner Insights survey is based on 1,200 online interviews conducted in January 2025 by Dynata. 

Simply Retirement by Principal® 401(k) plan recordkeeping, and administrative services are provided through Decimal, Inc. dba Ubiquity Retirement + Savings® ("Ubiquity"). Ubiquity is not affiliated with any plan and investment administrative services provided through Principal Life Insurance Company® or affiliated with any company of the Principal Financial Group®.  Principal makes available the Separate Accounts and collective investment trusts for customers to select them through Simply Retirement by Principal.  All other services and mutual funds are provided by service providers not affiliated with any company of the Principal Financial Group.  Refer to related documents and agreements for more details on plan services available.

 FuturePlan by Ascensus and FuturePlan Fiduciary Services, LLC (collectively referred to as FuturePlan) provides plan design, administration, and compliance services. They are not broker-dealers nor investment advisors and do not provide tax, legal, or accounting services. Sub-Advised Investment Options include Separate Accounts available through a group annuity contract with Principal Life Insurance Co. Principal Funds Distributor mutual funds are distributed by Principal Funds Distributor, Inc. Principal Global Investors Trust Company Collective Investment Funds (CITs) available through a participation agreement with the Trust Company. The managers used within our sub-advised investment options can change at any time. Review each investment option for applicable investment manager or investment manager defined by ERISA.

Determined by fully insured employer groups in-force. Based on participants in LIMRA’s 4th Quarter 2024 U.S. Workplace Benefits Life Insurance, Disability Insurance, Dental and Vision Plans, and Supplemental Health Insurance In-force Surveys. (April 2025)

 Based on 2024 corporate-sponsored individually owned (CSIO) life insurance case count and corporate-owned life insurance (COLI) case count for case size up to $5 million of total premium per case in the 2025 COLI/CSIO survey of participating carriers by IBIS Associates.   Principal SMB Segmentation Market Overview Dashboard, data as of 1Q25. (Note: There is some overlap in counts where clients have multiple products across lines of business) 

For Financial Professional/Institutional Use Only. 

The subject matter in this communication is provided with the understanding that Principal® is not rendering legal, accounting, or tax advice. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, or accounting obligations and requirements.

Insurance products issued by Principal National Life Insurance Co. (except in NY) and Principal Life Insurance Company®. Plan administrative services provided through Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. 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.