description Principal Financial Group Overview
Principal Financial Group is a major player in the disability insurance market, offering a wide range of products for both individuals and businesses. They are known for their competitive pricing and flexible policy options, including both own-occupation and any-occupation coverage. Principals group disability plans are particularly popular among employers. Their online platform and customer service are generally well-regarded.
While their own-occupation policies may not be as robust as some competitors, Principal provides a solid and accessible option for many individuals seeking income protection.
help Principal Financial Group FAQ
Does Principal sell individual disability insurance or only employer coverage?
Principal offers both group disability benefits through employers and individual disability income policies sold through financial professionals. It also offers business-focused coverage such as overhead expense and disability buy-out insurance.
What does "own occupation" mean in a Principal disability policy?
It generally concerns whether disability prevents you from performing the occupation you had when the disability began. Definitions vary between Principal's individual, short-term, and long-term contracts, so the actual policy language controls.
Can Principal disability benefits be reduced by other income?
Some group policies coordinate benefits with Social Security disability, workers' compensation, or other income sources. The offsets, exclusions, waiting period, and maximum benefit period must be checked in the specific certificate.
How does Principal differ from Guardian for specialist physicians?
Both companies sell disability coverage, but occupation definitions, residual-disability benefits, riders, and underwriting can differ materially. A physician should compare specimen contracts rather than assume that two policies labeled "own occupation" provide identical protection.
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