Principal Risk Upgrade Program
Check out the new Principal Risk Upgrade Program!
It can shave TERM and PERM ratings – Up to Table 2 or flat extras – (medical and lifestyle covered)
How it works
Give clients a rating boost. Our Principal® Risk Upgrade Program (PRUP) allows us to potentially improve ratings of Table 2 or a flat extra of $2.50 per $1,000 to Standard on select impairments and non-medical risks.
PRUP guidelines
- Face amounts $100,000 to $5,000,000. Total face amount pending and inforce for all companies cannot exceed $20 million.
- Applicant ages 20-65
- All products except One-Year Term
- Table 2 or $2.50 per $1,000 on a single item only. All other impairments and non-medical risks must be Standard.
- Must be fully underwritten case. Accelerated Underwriting without labs, Guaranteed Issue, and Simplified issue are not eligible.
- New applications only
What are the benefits?
PRUP eliminates the low, substandard ratings that can be the most challenging to present to your client. Consequently, you can present an offer to a client that has a greater chance of being placed. The greatest benefit is the competitive Standard rate received by your client without a reduction in the compensation paid to you.
PRUP eligible risks
The following items are eligible for consideration through this program. The program is based on the overall case and experience with the particular impairment. Not all cases will be automatically reduced.
See the Principal Life Underwriting Guide for more information.
Some cases listed above may not fall into the program parameters.
Does not cover known/diagnosed CAD, cancer or type 1 diabetics.