Your source for news impacting your business during COVID-19

 

U.S. Insurance Solutions News
Helping you and your clients during COVID-19

 
 

We know conducting business is challenging during the crisis and that you and your clients have questions. To help us better serve up timely content as it relates to your business, we’re trying a new format that will help us include more of what you need to know.

New COVID-19 advisor site

No matter your line of business, this site will be your go-to for all things COVID-19 impacting you and your clients—like underwriting, new business processes, digital marketing solutions, the Coronavirus Aid, Relief, and Security (CARES) Act, and more. Bookmark the new site for future reference. If you need to log in to the advisor site and forgot your password, call (800) 554-3395.

  • The CARES Act and what it means for your clients. Get details for business owners and individuals. Coming by next week: New handy calculators to help your clients decide which financial relief options available through the Small Business Administration will work best for them. Check this page often for these and other tools to help businesses sift through the details of the CARES Act.
  • Pandemic-related podcasts. Kara Hoogensen, Senior Vice President—Specialty Benefits, joins Jim Blasingame to talk about avoiding retirement panic with the stock market and how the government is helping small businesses. Listen to retirement podcast | Listen to small business podcast

Individual disability insurance

  • Important Benefit Update Rider information. We’ve temporarily relaxed our underwriting requirements to purchase the Benefit Update Rider on new policies as well as the acceptance requirements for existing policies. Learn more
  • Help clients share medical records through Human API. See how clients can share records instantly and be underwritten in up to two days. Learn more
  • Other important details regarding doing business. Review additional guidance regarding temporary underwriting adjustments, extended grace periods, and digital solutions to help during COVID-19. Learn more

Individual life insurance

  • Underwriting frequently asked questions. Get answers to the popular questions we’re getting. Learn more
  • Submitting new business. To help make it easier for you during this time of working remotely, we’re accepting photographs of all documents/signatures for all states.
  • Other important details regarding doing business. Review additional guidance regarding temporary underwriting adjustments, extended grace periods, and digital solutions to help during COVID-19. Learn more

Group Benefits

  • Rate stability for select renewals. To help during these challenging times, we’re simplifying renewal conversations for small business owners. Learn more
  • Employee Assistance Program (EAP) support. Principal® and Magellan are extending telephonic EAP support to all group benefit customers during COVID-19. Contact Magellan Healthcare 24/7 at (800) 450-1327 for free, confidential consultation services.
  • Financial hardship and premium flexibility for life insurance policies in NY. On March 29, 2020, the Governor of New York issued Executive Order 202.13, which expires on April 28, 2020, unless subject to an extension. If a policyholder is unable to make a premium payment due to a demonstrated financial hardship, the insurer will allow premium to be paid over a 12-month period. This will include any notices of cancellation due to nonpayment in effect prior to the date of the Executive Order.

Nonqualified Deferred Comp

 

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Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Co. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., 800-247-1737, Member SIPC and/or independent broker/dealers. Principal National, Principal Life, Principal Funds Distributor, Inc. and Principal Securities are members of the Principal Financial Group®, Des Moines, IA 50392.

The EAP isn’t part of the insurance contract or policy and may be changed or cancelled at any time. Not all services available to group policies issued in New York. Magellan is responsible for all EAP services provided through this program. EAP services in California are provided through Magellan Health Services of California, Inc.—Employer Services. Magellan isn’t a member of the Principal Financial Group®. For financial professional use only. Not for distribution to the public.

© 2020 Principal Financial Services, Inc. Principal, Principal and symbol design and Principal Financial Group are trademarks and service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

LF1238 | 1144751-042020 | 04/2020