Principal earned a score of 4 out of 5 in the 2019 J.D. Power score and BBB rating, considering their customer complaints, application process, and online communication with clients. To evaluate Principal’s user experience, we used the company’s J.D. Whether you’re exploring a company’s policies, submitting an application, or filing a claim after a loved one passes away, you should be able to quickly and easily complete the task. These ratings, along with Principal’s size, suggest the company is financially sound and likely to continue to be. You can see the company’s ratings here: A.M. Principal also has “A” ratings from all four of the major rating agencies, which make it one of the best life insurance companies in America based on financial strength, security, and solvency. The company boasts over $735 billion of assets under management and $1.5 billion of net income. You can rest assured that Principal is fully capable of paying out claims, based on its financial performance and credit ratings. While cost might be the ultimate deciding factor when you choose a life insurance provider, it’s also vital to buy a policy from a solvent one. Principal’s rates are below average for people with cancer in their family tree, hypertension, high cholesterol, and those who’ve recently lost weight.Īll in all, Principal’s rates are some of the most competitive across the board. Their underwriting is also among the most reasonable for applicants with a range of health conditions, meaning applicants in poorer health often get average or lower rates with Principal than they would elsewhere. Principal’s life insurance policies are competitively priced for healthy non-smokers, young and old. Life insurance rates are influenced by a set of factors like your age, health conditions, and even your job and hobbies.Įven your family’s health history can impact your access to affordable life insurance with some genetic conditions.Īnd each life insurance company weighs the underwriting factors above differently. So, it will not change if you make changes that impact your desired income in retirement.How much you pay for life insurance can look vastly different from company to company. Your Retirement Wellness Score always assumes you are replacing 100% of your pre-retirement income. This is not a guarantee of future income. This information may be valued as of different dates. This score, and what you will have, are merely estimates based on information provided by you and several financial assumptions, including a 4.5% withdrawal rate. The amounts you will have may differ based on your specific goals in retirement. Your Retirement Wellness Score would be 50. For example, based on your inputs you may have $1,000 per month when you retire, but your monthly pre-retirement income is $2,000. The score compares what you are estimated to have in monthly income at retirement against your estimated monthly pre-retirement income.
Studies suggest replacing at least 70-85% of your income in retirement*. Your Retirement Wellness Score indicates the percentage of your pre-retirement income that is estimated to be available at the specified retirement age (based on your personalized inputs and current assumptions).