Principal Announces Temporary DI Underwriting Guideline Changes In Response To COVID-19

Principal Announces Temporary DI Underwriting Guideline Changes In Response To COVID-19

Principal Financial has made temporary Individual Disability Income underwriting guideline changes in response to COVID-19.

Effective immediately, the Individual Disability Insurance (IDI) Underwriting Department at Principal® is changing underwriting guidelines for exams and labs.  These changes will be effective through May 31, 2020, and will be revisited regularly as the pandemic news unfolds.

Labs & Physical Measurements

No physical measurements and labs are needed for up to the amounts listed below.  For amounts beyond those listed below, Principal Underwriters will evaluate the medical records to determine if labs and physical measurements are needed.  We highly recommend the use of Human API and encourage your client to connect their records through that process.  Your underwriter can provide more information on Human API if you need it.

  • Disability Income:  $10,000/month
  • Business Overhead Expense:  $25,000 (increased from $10,000)
  • Disability Buy Out and Key Person:  $1,000,000 Aggregate Benefit (increased from $360,000)

These new guidelines are available to Individual and Multi-Life cases.

As you have questions, contact me.  We’re here and ready to help, in any way we can.