Principal Resolves Term Insurance Quote Issue
As of December 28th, the illustration rate issue that caused incorrect quotes on a few scenarios of Principal's new Term product has been resolved. The affected quotes were ones using the following details: Principal 15-Year Term, nonconvertible policy, issue ages 71-75, male or female, any risk class.
FROM PRINCIPAL…
We want to make you aware that an illustration rate issue caused incorrect quotes for a few isolated scenarios of our new Principal Term (Term 2023) product.
The issue has been fixed. The affected quotes were ones using the following details:
Principal 15-Year Term, nonconvertible policy, issue ages 71-75, male or female, any risk class
If you ran a quote for one of the scenarios listed above, between Dec. 4 – Dec. 22, you should rerun it to ensure its accuracy.
If you have questions, please contact the National Sales Desk at 800-654-4278.