Coming Soon: Updated Employer-Owned GI Term Onboarding Process
We recently introduced improvements to the onboarding process for employee-owned Guaranteed Issue (GI) Term plans, such as electronic applications and new employer onboarding paperwork. Soon, we’ll be introducing enhancements to the employer-owned process.
Some benefits will include:
- Fewer forms and less follow-up – Principal® will collect information from enrollees to complete the Consent for Employer to Purchase Life Insurance forms. All the employer will need to provide are the email addresses and cell phone numbers of participants.
- Easy experience for participants – Each participant will receive an email with a link directing them to a digital application where they can provide the necessary information for the consent form. Then, they’ll conveniently e-sign within the same experience.
- Followup and statusing – To ensure all participants complete and sign their consent form, Principal will send reminder emails to them daily, until complete. Additionally, we can provide status updates for all plan participants to keep you informed.
More details to be shared soon.