1. Simplified underwriting
Individual Disability Insurance (IDI)
Simplified underwriting
Presenter’s name
The presenter’s title goes on this line

2. Disability Insurance from Principal® issued by Principal Life Insurance Company. Des Moines, IA
For producer information only. Not for use with consumers or the public.
No part of this presentation may be reproduced or used in any form or by any means, electronic or mechanical, including photocopying or recording, or by any information storage and retrieval system, without prior written permission from the Principal Financial Group®.
Not a Deposit | Not FDIC or NCUA Insured | No Bank or Credit Union Guarantee | May Lose Value | Not Insured by any Federal Government Agency
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.

3. Simplified underwriting benefits1
Benefits offered help set the foundation for protection
Eliminates routine medical requirements
Reduces need for financial verification
Accelerates underwriting timing
Available for:
Disability Income (DI) – Single and multi-life cases
Overhead Expense (OE)
Disability Buy-Out (DBO)
Key Person Replacement (KPR)2
Why is Simplified so easy?
First, your client will NOT need to provide blood, urine, exams, EKG’s or Attending Physicians Statements.
Second, in many cases, you will NOT need to collect any financial documentation from your client, and third is Principal Life provides accelerated turnaround timing once the application and TeleApp interview has been completed and received.
1 – Unless a significant medical condition is reported by MIB, significant medical information is obtained from the TeleApp or other available information, or any other disability coverage has been issued or applied for on a non-medical basis. Applications could be rated, ridered or declined based on all underwriting information available; this is not a guaranteed issue program. Urine/HIV test is required in ME. Subject to Issue & Participation limits and minimum premium requirement. In California, there are no labs required for Simplified Single-Life cases up to $6,000/month, but an APS and financial documentation is required. For Simplified OE and DBO, the A occupation are not available. In California, for Simplified DI multi-life, when all three applications are not submitted together, we'll require APSs and financials on the first two applications, but not for any additional applications on that case. TeleApp interviews always required.
2 – Not available in all states. Not available in California. Go to for details.

4. Tip: Help clients cover a major expense
Up to:
$6,000/month issue limit
$10,000/month participation limit (excluding group long-term disability)
available for Simplified DI, which could be used to help pay for things during a disability, like:
Housing
Student loans
Simplified DI is a great way to help clients hold on to one of their biggest assets – their homes. The benefits provided by a Simplified DI policy can help clients cover their mortgage, premiums for home owner’s insurance and monthly utility bills.
For many recent college graduates just starting their careers student loan payments are a significant financial responsibility. Simplified DI is a fast and easy way to help young professionals protect their credit. It provides the benefits needed during a disability to continue making student loan payments.

5. Key details Disability Income (DI) Overhead Expense
Disability Income (DI)
Overhead Expense
Disability Buy- Out
Key Person Replacement3
Maximum issue & participation limit4
$6,000/month issue limit
$10,000/month participation limit*
$10,000/month limit
$360,000 aggregate limit
Maximum issue ages
50 (single-life)5 64 (multi-life)6 50
Occupation classes
All
All5
3A and above
*Excludes group long-term disability insurance.
3 Not available in California and not approved in all states. For more information visit principal.com/distateapprovals. 4 Financials required when applying for more than the simplified amounts – this applies for new applications and adjustments. Financial documentation is required for the following occupations (regardless of the monthly benefit applied for): real estate agent/broker, mortgage loan originator/broker, residential construction, real estate developer, attorney specializing in real estate and residential construction. 5 In California, there are no labs required for Simplified Single-Life cases up to $6,000/month, but an APS and financial documentation is required. For Simplified OE and DBO, the A occupation are not available. In California, for Simplified DI multi-life, when all three applications are not submitted together, we'll require APSs and financials on the first two applications, but not for any additional applications on that case. TeleApp interviews always required. 6 A higher issue age may be available with underwriting approval.

6. Individual DI Insurance
Protects a client’s ability to work and earn an income
Feature
Guidelines
Maximum benefit
Up to $6,000/month (issue limit)
Up to $10,000/month (participation limit – excluding group long-term disability insurance)
Maximum issue age1
Single-life: 50 | Multi-life: 64
Elimination periods
All1
Benefit periods
All
Your Occupation periods
Rates
Sex distinct (Unisex in Montana)
Discounts2
20% Multi-Life3, 10% Association, 10% Select Occupation2, 10% Affiliation2, Up to 10% MNSA4
Read slide.
For Multi-Life cases, no employer signature or endorsement letter is required.
1 – In California, there are no labs required for Simplified Single-Life cases up to $6,000/month, but an APS and financial documentation is required. In California, for Simplified DI multi-life, when all three applications are not submitted together, we'll require APSs and financials on the first two applications, but not for any additional applications on that case. TeleApp interviews always required. | 2 – Not all discounts can be stacked together or are available in all states. Visit for details. | 3 – Can not be used with Dental or Medical residency programs. 3 - The MNSA rider is required for single-life policies in CA, FL, LA, and NV. It is not available for single-life cases in any other states except when elected through association cases or when certain riders are placed on a policy for select occupations. For multi-life cases, the rider is required in CA and optional in all other states. The rider is not available in VT. The discount amount varies in TX.

7. Don’t forget: Simplified DI Multi-Life1 could be a great employee benefit
Everyone receives the 20% Multi-Life discount (on gender-neutral rates).
There are no standard medical or financial requirements if applying for less than the simplified issue and participation limits.
It works with group disability coverage and can be employer or employee paid.
No company endorsement or formal program is needed.
Requires 3+ employees with a common employer to purchase coverage.
1 – In California, there are no labs required for Simplified Single-Life cases up to $6,000/month, but an APS and financial documentation is required.
In California, for Simplified DI multi-life, when all three applications are not submitted together, we'll require APSs and financials on the first two
applications, but not for any additional applications on that case. TeleApp interviews always required.

8. Overhead Expense insurance
Reimburses business owners for covered business expenses.
Feature
Issue Guidelines
Maximum benefit
$10,000/month1
Maximum issue age
50 (Single and Multi-Life)
Elimination periods
All
Benefit factors
Your Occupation periods
Rates
Sex distinct (Unisex in MT and CA)
Discounts2
20% Multi-Life3, 10% Select Occupation2, 10% Association2
Read slide
1 – Combined Simplified OE and Simplified DI benefits cannot exceed $16,000/month.
2 – Not all discounts can be stacked together or are available in all states. Visit for details.
3 – Not available in Ohio.

9. Disability Buy-Out insurance
Funds a buy-sell agreement to purchase a disabled business owner’s interest.
Feature
Issue Guidelines
Maximum benefit
$360,000 aggregate
Maximum issue age
50 (Single and Multi-Life)
Elimination periods
All
Benefit factors
Rates
Sex distinct (Unisex in MT and CA)
Discounts1
20% Multi-Life2, 5% Preferred Business Owner1, 10% Select Occupation1, 10% Association1
Read slide
1 – Not all discounts can be stacked together or are available in all states. Visit for details.
2 – Not available in Ohio.

10. Key Person Replacement insurance*
Provides benefits to help the business transition after the total disability of a key employee.
Feature
Issue Guidelines
Maximum benefit
$360,000 aggregate
Maximum issue age
50 (Single and Multi-Life)
Elimination periods
All
Benefit factors
Rates
Sex distinct (Unisex in MT and CA)
Discounts1
20% Multi-Life, 10% Association2
Read slide
*Not available in California. For state approvals visit
1 – Not all discounts can be stacked together or are available in all states. Visit for details.
2 – Association Discount not available for OE insurance in California

11. About TeleApp What is it? 15-minute confidential phone interview
In-house counselors ask Part B medical insurability questions
888-Teleapp
Advantages
Fewer labs and APSs needed
Clients answer insurability questions just once
Interviews can be conducted before other parts of the application are submitted
The TeleApp service from Principal Life Insurance Company is a minute confidential phone interview where counselors ask the insurability questions found in Part B of the Individual Disability Insurance application.
Principal Life’s service is staffed by an extensively-trained, in-house group of individuals dedicated solely to this interview process.
A Reflexive Questioning System prompts the interviewer to gather appropriate details based on the client’s responses to the application questions.
TeleApp counselors gather thorough medical information during the interview. Because the information gathered is so thorough, fewer labs and APSs need to be ordered, resulting in a quicker underwriting decision.
With Principal Life’s TeleApp service, clients only answer the insurability questions one time while applying for Individual Disability Insurance.
And, the interview can be conducted before Parts A and C of the application are received, also resulting in quicker turnaround time for you and your client.

12. Submitting business with Simplified1
Complete Parts A and C of the application and any required forms 2
Obtain appropriate signatures 3
Schedule a TeleApp Interview. (888-TeleApp) 4
Submit the completed application
Most of the time, Simplified Underwriting takes place automatically when basic requirements are met. However, to ensure Simplified underwriting is used, follow the steps below.
Step One: Complete Parts A and C of the application and any required forms
Step Two: Obtain appropriate signatures
Step Three: Schedule a TeleApp Interview (1-888-TeleApp)
Required to receive Simplified Sales Program guidelines
Indicate to the counselor this is a Simplified application and no additional medical requirements are needed
Step Four: Submit completed applications
Submit applications, any required supplements or financials, cover pages, and the Producer Report

13. Questions
DI | 7/2017 | © 2017 Principal Financial Services, Inc.
For financial professional use only. Not for use with consumers or the public.