Disability Income HH 750

The policy is non-cancelable (except for non-payment of premiums) and guaranteed renewable to age 65 and conditionally renewable for life. Individual DI insurance can be purchased individually or offered as an employee benefit. And it’s now available for individuals working over 20 hours a week.

• Issue Ages: 18 to 60 (18-64 for multi-life cases)
• Occupation classes: All
• Benefit Maximum: Up to $20,000 per month issue limit up to $35,000 per month participation limit with other disability coverage
• A variety of riders are available to help customize the policy
• Target Market:
  • Ages 30 to 55
  • Earn at least $40,000 annually
  • Work at least 20+ hours/week
  • Meet the company’s underwriting guidelines for occupation, income and medical history
    Built-in Policy Features: Death Benefit, Interrupted Elimination Period, Recurring Disability, Rehabilitation Benefit, Transplant Surgery Benefit, Waiver of Premium Benefit
• Available Riders (No Cost): Benefit Update, Capital Sum Benefit, Future Benefit Increase, Limitation of Benefits for Mental/Nervous and Substance Abuse Disorders, Presumptive Disability Benefit, Supplemental Health Benefit

Retirement Security HH 750

The policy is issued as a non-cancelable, guaranteed renewable Individual Disability Income insurance policy (HH750). Now available for individuals working over 20 hours a week. DI Retirement Security (DIRS) may be offered in addition to Individual DI insurance issue limits.

• Issue Ages: 18 to 60
• Minimum annual income to qualify: $76,000
• Occupation classes: Available to all
• Maximum Monthly Benefit (includes $50 monthly trust administrative fee; adjusts with IRS contribution guidelines):
  • Individual paid: $4,550
  • Employer paid: $5,850
• Target Market:
  • Those committed to saving for retirement
  • Those who currently have group long-term disability and/or Individual DI insurance
  • Often sold to corporate executives, accountants/CPAs, attorneys, business owners, engineers and medical professionals
  • Individuals working 20 or more hours a week

DI Retirement Security is not available to anyone who is over-insured based on Principal Life’s current issue and Participation guidelines

Available Riders (No Cost): Future Benefit Increase, Limitation of Benefits for Mental/Nervous and Substance Abuse Disorders, Cost of Living Adjustment