Principal Financial Group Disability Insurance–DI issue and participation limits return to normal for certain occupations in the financial services industry
Oct 27, 2010
Jamie Fleischner

Jamie Fleischner

27 Oct, 2010

Due to the stabilization of the financial services industry over the past year, Principal Life Insurance Company is returning to normal Individual Disability Income (DI) insurance issue and participation (I&P) limits for the following occupations in all states (effective immediately1):

·          Bond trader (not on trading floor)

·          Investment banker

·          Investment analyst

·          Hedge fund managers

·          Mutual fund managers

·          Private equity firms

·          Stockbroker (not on trading floor)

·          Venture capitalists


Principal Life will continue to monitor the economic environment and the:

·          Reduced Individual DI insurance I&P limits of $10,000/month; $15,000/month with group insurance for the following occupations in the real estate industry – real estate attorneys, mortgage brokers/originators, real estate agents/brokers and residential construction.2 

·          Uninsurability of real estate developers for all individual disability insurance products.


Underwriting Guidelines

Certain underwriting guidelines need to be met for financial services and real estate-related occupations when applying for coverage, such as:

·          Complete income verification, including:

         The most recent income tax returns with all schedules and supporting statements for the past two years

         Year-to-date income verification (i.e. pay stubs or profit/loss statements)

·          Minimum three years in the industry

 Note: Special underwriting considerations remain unavailable, such as the Enhancer Program, the Business Owner Allowance Program or the Section 179 Allowance Add-Back.

Related Posts

Demutualization of Ohio National

Here is an article explaining the recent changes at Ohio National. For more infomation, please contact Set for Life Insurance.

Disability Insurance for Graduating Veterinarians

Disability Insurance for Graduating Veterinarians

Why graduating Veterinarians should  purchase disability insurance prior to graduation. Graduating veterinarians in their first year of practice may purchase up to $3000/month of individual disability insurance regardless of income or group disability insurance in...

We're here to help

Getting the right disability insurance can be downright confusing. At Set For Life, we'll help you understand the options and work with you to select just the right product for you and your family. These articles will help you understand some of the complexities involved, but we're happy to walk you through it! If you're ready to get set, reach out for a quote today!