We’re excited to announce we’ll be introducing new premium rates for Principal 10-, 15-, 20-, and 30-Year Term on March 30. Note: This rate change does not apply to Principal® One-Year Term or Principal® GI Term.

This term reprice includes the following updates:

  • Level term rates are lower at many ages and risk classes.
  • Monthly EFT modal factor has been lowered to 0.0860 (applies to new-issue policies with the new reprice rates only).
  • Conversion Extension Rider rates are increased.

For purposes of these guidelines, current Term 2020 rates are referred to as “original rates” and the new, repriced Term 2020 rates are referred to as “03/20 rates.”

March 30, 2020

  • New term 03/20 rates are available to quote and sell.
  • We’ll accept applications for original rates until May 1, 2020.
  • Term 2020 applications in underwriting will be issued at rates applied for unless 03/20 rates are requested. – Note the request on a cover letter/transmittal. A new application is not required.

May 2, 2020

  •  All applications received in the home office on or after this date will be issued with 03/20 rates.

Policies within the examination period (COD, Offer, or Shortage)

  • If 03/20 rates are desired:
    • If the policy was delivered via eDelivery, the Field Office contact will reject the policy with original rates and indicate in the “Rejection Comments” box that “Term rates- 03/20” are desired. The policy will then be reissued and delivered via eDelivery.
    • If the physical policy was mailed from Principal, simply indicate “Term rates – 03/20” with the delivery requirement and submit the correct premium amount. New data pages will then be mailed to the customer.


  • Backdating is allowed in order to save age. Normal backdating rules apply.

State approvals

  •  Approved in all states.

Securities offered through The Leaders Group, Inc. Member FINRA/SIPC 26 W. Dry Creek Circle, Suite 800, Littleton, CO 80120, 303-797-9080.

GBS Insurance and Financial Services, Inc. is not affiliated with The Leaders Group, Inc. You may check the background of investment professionals on FINRA Broker Check

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