Principal National Life Insurance Company [2020]

The Principal National Life Insurance Company was founded in 1879. The company has a high rating from multiple agencies. Principal National Life Insurance Company is based in Des Moines, Iowa. A variety of affordable Principal National Life Insurance plans are available. Read our Principal National Life Insurance Company review to learn more.

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Tim is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. He writes and creates stuff for QuickQuote and other insurance and financial websites.

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Dec 30, 2020

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Advisors and clients turn to the company for the right solutions and support to reach their financial goals. But that’s not why it’s here. What it does is help people create the kinds of lives they dream about, empowered by a financial plan to create security and stability.

If we can help you find term life insurance quotes  or the perfect life insurance policy for you, it thinks of it as a job well done.

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What is Principal National Life Insurance?

The company was founded in 1879 as an insurance provider. Today, it’s a member of the FORTUNE 500® and a global investment management leader.

  • It was ranked #3 for best overall service to micro plans; value-added financial professional advisor services and plan participant support.
  • It received the Adviser’s Choice Award for advisor support, post-sale.
  • It’s received over 90 Best in Class designations over the past 10 years from PLANSPONSOR magazine’s Defined Contribution Services Survey.
  • It’s been named one of the World’s Most Ethical Companies and one of America’s Best Employers.

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How can I contact the company?

The headquarters for Principal National Life Insurance Company is in Des Moines, IA.

Principal Life Insurance Company Phone Number
800-986-3343

Principal Life Website

One Sammons Plaza
Sioux Falls, SD 57193

877-872-0757

North American Website

Principal Life Insurance Company Rating

Year Founded:  1879

AM Best Rating:  A+ (as of 2016)

S&P Rating:  A+ (as of 2016)

Company Spotlight:  Principal Life Insurance Company

Company Goods

Customer GuideAccelerated Underwriting

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Principal National Life Insurance Company Policies

What are the included term life features?

  • Accelerated Benefit: Included at no extra cost. Allows the Primary Insured to obtain up to 75% of their death benefit (up to $1,000,000) prior to death when diagnosed with a terminal illness.
  • Conversion Option: Included at no extra cost. The policy is convertible to an approved permanent policy for the earlier of the level premium period or age 70. Conversion to guaranteed UL products is only available after the second policy anniversary.

What are the optional term life features?

  • Children Term Rider: Available with extra premium. Allows eligible children to be added to a policy at issue with coverage available between $5,000 and $25,000.
  • Waiver of Premium Rider: Available with extra premium. Waives the premium as long as the insured is totally disabled, subject to rider limitations.

Legal Info

A two-year contestable and suicide provision applies.

Principal, Principal and symbol design and Principal Financial Group are trademarks and service marks of Principal Financial Services, Inc, a member of the Principal Financial Group.

Principal National Life Insurance Company Policy Form: ICC13 SN 89/SN 89, Rider Forms: SN 2, SN 3, SN 4, SN 5, and SN 42.

What types of insurance products does the company offer?

Term policies from Principal® offer low rates, lots of flexibility, and tax-free death benefits for your beneficiary, in 10-, 15-, 20- and 30-year term lengths.

The company notes on their websites page that the guarantees on the benefits of your policy are backed up by the claims-paying ability of the insurance agency that issued your policy.

Principal Accelerated Underwriting provides up to $1 million of coverage without the need for labs or exams.

Term 10: Term life insurance with level premiums during the initial 10-year period. Premiums increase annually in years 11 and later.

Term 15: Term life insurance with level premiums during the initial 15-year period. Premiums increase annually in years 16 and later.

Term 20: Term life insurance with level premiums during the initial 20-year period. Premiums increase annually in years 21 and later.

Term 30: Term life insurance with level premiums during the initial 30-year period. Premiums increase annually in years 31 and later.

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