Basic Life Insurance
We know you want to protect your loved ones in case of life’s uncertainties. Principal offers Basic Term Life Insurance and Accidental Death & Dismemberment (AD&D) coverage at no cost to you. You may purchase additional, supplemental coverage to increase your coverage amounts.
At no cost to you, Basic Term Life Insurance gives you:
- Life Benefit of $30,000
- AD&D coverage as part of your life insurance
- The ability to convert to an individual policy if you leave the company
- Possible waiver of premiums if you become disabled
- Possible accelerated death benefit if you are diagnosed with a terminal disease
If you purchase Supplemental Life Insurance for yourself, your spouse and dependents, you get:
- Guaranteed Issue of $150,000 for Employee and $100,000 for Spouse
- Group discounted rates
- AD&D coverage for employee and spouse
- To purchase up to $500,000 supplemental life— Evidence of insurability required
- To purchase up to $100,000 spouse life insurance— Evidence of insurability required
Don’t forget to designate a beneficiary for employee life insurance.
Resources
Supplemental Life and AD&D and Dependent Life Rates
Monthly cost per $1,000 of coverage
