Life Insurance

Coverage not just for your life, but for your life’s purpose

Life insurance protects those who depend on your life, so there’s no sudden monetary shortage in the event of your death. A life insurance policy can help your family recover from loss and continue to:

Pay for your final expenses
Pay off a mortgage
Pay for childcare and education costs
Cover outstanding debts
Complete a retirement plan
Access estate liquidity
Provide lifetime income

If someone besides you depends on your income, life insurance can help provide for your loved ones at a time when they may need it the most.

Interested in better understanding the basics of life insurance? Check out our step-by-step guide on Life Insurance 101.

Two types of life insurance for evolving needs

Principal^® offers a range of life insurance products to fit your current and future needs. For a mix of short- and long-term needs, you may even elect both types.

Term Life Insurance

Gives you budget-based coverage for a specific period of time.

Permanent Life Insurance

Offers long-term coverage for long-term benefits.

Already have life insurance through work?

That’s a great start, but group life insurance provides a base level of protection and isn’t designed to meet 100% of your life insurance needs.

Plus, if you switch jobs, your coverage could change, leaving you vulnerable to losing accumulated benefits in your job transition.

Ask your company’s benefits administrator about your group policy, and talk to your advisor about how to supplement your policy for minimal cost.

Feature	Term	Permanent
Tax-free death benefit	Yes	Yes
Possible guaranteed level payment for life	No	Yes
Potential ability to pay off (pay up) the policy early	No	Yes
Potential to build equity (cash value)	No	Yes

Related Forms

Customer Service Request (PDF)

Ownership Change (PDF)

Beneficiary Change (PDF)

Electronic Funds Transfer (EFT) (PDF)

Authorization for Release of Information (PDF)

Help on protecting those who depend on you

This dad knows life insurance is an essential investment for protecting his assets—and his loved ones.

Why you need life insurance

Life insurance—it’s a key part of your financial plan. And a thoughtful way to help protect your family.

Man learning about why Life Insurance is important.

3 insurance myths, debunked

You insure your home, car, health and even have pet insurance – so why wouldn’t you insure your life and income? If you're working hard toward a financial goal, you should think about life insurance and disability insurance, too.

Woman reviewing questions about life insurance and disability insurance.

Insurance FAQ

Have questions about life insurance or income protection (disability insurance)? Get the answers you need.

All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. Policy guarantees and benefits are not backed by the broker/dealer and/or insurance agency selling the policy, nor by any of their affiliates, and none of them makes any representations or guarantees regarding the claims-paying ability of the issuing insurance company.