Life insurance
New Business & Underwriting News

 
 
 
 

Please feel free to reply with any questions or feedback you may have. We’ll respond as quickly as we can.
 

Ordering Online Part B: Now easier when using iPipeline
E-App

Starting mid-October, our E-App in iPipeline will have a new feature—you’ll be able to request a Part B directly from the E-App tool.

 

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Review our current service times

 
  • You’ll access the “Proposed Insured Part B” page like you normally do. You'll only need to indicate whether the Part B needs to be requested or not. It's that easy!
  • The full E-App will be removed from iPipeline later in Q4. Once removed, you’ll still be able to complete an E-App and request Principal® to complete the Part B.
  • Coming soon! When applying through the quote engine, you’ll see new, easier to understand options: Term Insurance and Term Insurance With CER Rider. Both options will allow the E-App with carrier-completed Part B or Drop Ticket.

Attending Physician Statement (APS) vendors

If you utilize JetStream to obtain APSs, you’ll need to request traditional vs Human API (HAPI) at the time of the APS order. If we receive HAPI records and need traditional records (with all testing results), it will cause a delay in the underwriting of the case as we’ll have to go back for the traditional APS.

While JetStream has been identified as a way to send HAPI records, with the increasing focus on Digital Health Data (DHD) in the industry, we may find other APS services doing this in the future. We’ll continue to let you know as we become aware of them.


Temporary guideline reminders

  • Underwriting guidelines extended. The temporary underwriting guidelines we announced in March have been extended through October. Get information on the guidelines.
  • Additional adjustment to life insurance new business. On August 31 we let you know about two additional adjustments to help accelerate our efforts to return to normal service levels:
    • All Principal Term applications with face amounts of $1 million and less must be submitted via Drop Ticket. Exceptions to this requirement are cases where the insured is a resident of New York and life/individual disability insurance combo cases.
    • All informal application reviews are temporarily suspended.
  • eSignature rule for forms in NY is extended. The temporary approval we received to allow eSignatures on replacement documents in New York new business applications during the New York Emergency Order has been extended to
    November 7.
 
 
 
 

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Insurance products issued by Principal National Life Insurance Co. (except in NY) and Principal Life Insurance Co. Securities offered through Principal Securities, Inc., 800/247-1737, Member SIPC and/or independent broker/dealers. Principal National, Principal Life and Principal Securities are members of the Principal Financial Group®, Des Moines, IA 50392.
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LF1306B | 1354028-102020 | 10/2020