Term Life Insurance

Help your clients take the first step in protecting their financial futures with term life insurance. Principal ® Term offers competitive rates for many ages and risk classes, plus the option to select a policy with the right to convert to a permanent policy.

• View Product and Sales Guide (PDF) (BB12374)
• View One-Year Term Overview (PDF) (BB10532)
• Approved in all states, except NY.

For financial professional use only. Contract rider descriptions are not intended to cover all restrictions, conditions, or limitations. Refer to rider for full details. ​​​​

Key Features

• Competitively priced products to meet a variety of needs: 10-, 15-, 20-, and 30-Year Term.
  
• Convertible and non-convertible policy options are available. Options include:
  • No conversion—has no conversion rights and offers the lowest-cost premium
  • Limited conversion period—allows conversion for a portion of the level term period
  • Full level term conversion period—the convertible policy with Conversion Extension Rider extends the option to convert to the earlier of completion of the level term period or the insured’s attained age 70.
  • Accelerated Benefits Rider allows insureds to obtain up to 75% of their death benefit (up to $1,000,000) prior to death when diagnosed with a terminal illness.
    
  • Business Value Increase Rider provides face amount increases based on growth in the value of a business, without requiring evidence of insurability. Works on three-year increase cycles.
    
  • Conversion Extension Rider available with the convertible policy option allows the conversion option to extend to the earlier of the full level premium period and the insured’s attained age 70. Issue ages for the rider are: 10-yr: 20-62; 15-yr: 20-57; 20-yr: 20-54; 30-yr: 20-49, and the rider is only available at issue.
    
  • Salary Increase Rider provides face amount increases based on salary adjustments without requiring evidence of insurability.
    
  • Waiver of Premium Rider waives the premium as long as the insured is totally disabled, subject to rider limitations.

  Target Market

  • Insureds ages 35 to 55
    
  • Business solutions such as key person insurance, buy-sell funding, and key employee benefits
    
  • Business owners and key employees to help provide family protection

  Details

  • Issue ages: 20-80 (varies by term duration).
    
  • Super Preferred, Preferred, Super Standard, Standard, and Substandard classes 2-6 plus flat extras
    
  • Premium rates increase after the level premium term on a one-year term basis based on attained age and may be renewed to age 95.
    
  • For more information about Term insurance products, go to:
    • Product Profile (PDF) (BB12371)
    • One-Year Term Product Overview (PDF) (BB10532)

    Sales Ideas

    These sales ideas are designed to help you generate sales.

    Key Person Sales Idea (BB12372)
    Explains the benefits of covering key employees with a Term life insurance policy.
    View (PDF) • Order

    Consumer Materials

    Key materials listed below.

    Consumer Guide (BB12652)
    Highlights the benefits and features of Principal ® Term.
    View (PDF) • Order

    Term or Permanent Decision Tree Flyer (BB12102)
    Helps clients understand the difference between the two types of coverage and which might be right for their needs.
    View (PDF) • Order

    Term Conversion Privilege Letter (BB10662)
    Notify your clients of the Term conversion feature available to them.
    View (DOC)

    Producer Materials

    Key materials listed below.

    Product Profile (BB12371)
    Explains what clients are well-suited for term insurance, as well as the advantages of our product.
    View (PDF) • Order

    Product and Sales Guide (BB12374)
    Offers target market details, rider information, sales ideas, and more.
    View (PDF) • Order

    Term increase riders flyer (BB12694)
    Explains how the Business Value Increase Rider and Salary Increase Rider can help coverage grow as a client's needs change.
    View (PDF) • Order

    Term for business email (LF1730)
    Outlines how Principal Term can help meet business needs, and features a variety of resources for building sales opportunities.
    View (OFT)