Principal is excited to announce new premium rates for Principal 10-, 15-, 20-, and 30-Year Term effective October 3.  The new rates are lower at many ages and risk classes. Note that this rate change does not apply to Principal One-Year Term or Principal GI Term.

Transition guidelines

For purposes of these guidelines, current Term rates in effect prior to this reprice are referred to as “original rates” and the new, repriced Term rates are referred to as “10/22 rates.”

Key dates for Term rates

Oct. 3, 2022

  • New Term 10/22 rates are available to quote and sell.
  • Principal will accept applications for the original rates through Nov. 3, 2022.
  • Term applications in underwriting will be issued at rates applied for unless 10/22 rates are requested.
    • Note the request on a cover letter/transmittal.  A new application isn’t required.

Nov. 4, 2022

  • All applications received in the home office on or after this date will be issued with 10/22 rates.

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

  • If original 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 – 10/22” 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 except South Carolina.


Read Announcement

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

Copyright @2024 Premier Brokerage Services