Enhancements to Guaranteed Issue
Principal Life announced that they will do GI Term Life down to 5 lives (to align with DI GSI). With DI GSI Census enrollment deployment this week, and GI Term Life at 5 lives, you will want to be talking about both solutions with your clients!
Enhancements to Guaranteed Issue
Get an underwriting advantage for your business cases. Guaranteed Issue simplifies life insurance underwriting for qualifying groups. Financial professionals place cases faster and participants will experience less friction without the typical medical exams and health questions.
We’re excited to announce some changes that will impact your Guaranteed Issue cases.
Principal® Guaranteed Issue Term II (GI Term II)
We’ll now consider groups of 5-9 lives subject to these parameters:
- Employer must offer Principal Group Term Life, Voluntary Term Life, or Guaranteed Standard Issue (GSI) IDI.
- The maximum face amount is $500,000.
- Only Standard risk class. Preferred isn’t available.
See GI Term II product guide for more.
Guaranteed Issue (all products)
We’ve enhanced, increased, and simplified our Guaranteed Issue multiples for employee-owned and employer-owned policies.
| Guaranteed Issue requirements | Number of Participants | Employer-owned and Employee-owned maximum face amount | Participation rate |
| GI Term only | 5-9 | $500,000 | 100% |
| UL, IUL, VUL, Term | 10-19 | $60,000 x number of lives | 100% |
| 20+ | $75,000 x number of lives | 85% |
See the Multi-life underwriting guide for more.