Principal Accelerated Underwriting Process – Life Insurance

The Principal Accelerated Underwriting Process for Life Insurance can expedite the approval of your life insurance policy.

We can use the accelerated program if the following criteria has been met:

• Ages: 18 -60
• Face amount: $50,000 – $1 million
• No major medical condition(s) from list below.
• If previously underwritten by The Principal, coverage was approved at Preferred or Super Preferred.
• Applicant is a U.S. citizen or permanent resident with no travel to hazardous locations.
• Stated blood pressure – less than 140/85.
• Total cholesterol is less than 220, and cholesterol/ HDL ratio is less than 5.0.
• If age 50 or greater, applicant has a primary care physician and evidence of routine physicals.
• For Non-Tobacco Preferred, no tobacco use within the past 24 months.
• No parent or sibling death from cardiovascular disease, stroke or diabetes prior to age 60.
• No parent or sibling death from breast, colon, ovarian or prostate cancer prior to age 60.*
• No history of bankruptcy in the past five years.
• No history of DUI or reckless driving within five years, or more than two moving violations in the past three years.
• No history of felony conviction in the past five years.
• No life, health or disability insurance has been rated, ridered or declined.
• No prior informal request to The Principal within the last 24 months.
• No labs have been ordered or completed within the last 12 months for life or disability insurance.
• TeleApp interview has been completed by client.

* Disregard cancer of opposite sex except for colon cancer.
* Disregard cancer if it pertains to only one family member, and insured has regular check-ups targeted at early diagnosis.

If all of those different factors have been met, then we can proceed with the Accelerated program.

The actual process is as follows:

1 ) Complete parts A and C of the applicable life insurance application from Principal (contact us to receive the application)

2 ) Complete phone interview.  Once we have your simplified application, we will order this on your behalf.  You will receive an email with instructions for this.

TeleApp call center hours of operation
Monday – Thursday:
8 a.m. – 11 p.m. (Eastern Time Zone)
Friday: 8 a.m. – 8 p.m. (Eastern Time Zone)

Underwriting will then evaluate the teleApp (phone interview), your Motor Vehicle report, prescription history, and MIB Inc. report.

• If the application is approved for Principal Accelerated Underwriting, it proceeds to issue.

• If not approved, a Paramed appointment will be  scheduled plus any additional requirements (traditional underwriting).