Advisors Blog

Expedited Underwriting in as Little as 48 Hours with Principal

Published on March 08, 2018


Submitting a life insurance app with Principal is now faster and easier than ever! You can complete a Principal application with no paperwork using the online drop-ticket process. Available for all Term cases, all ages and all face amounts.

Through the drop-ticket process you can electronically submit a life insurance interview request by completing basic client data, with a step-by-step wizard guiding you the entire way. From there the carrier will handle the rest. Once your request has been submitted, the carrier will contact your client within 24-48 hours for a 30 minute phone interview to complete the full application. After the interview is complete, the application packet is sent to the client for electronic signature and then submitted to Principal’s underwriting department where they will evaluate data such as prescription history, MIB, MVR, and FCRA public information. If there are any issues that require your involvement or you feel there is anything that should be brought to the carriers attention, you may step in at any time.

Be sure to share this handy guide with your clients to help them prepare for the telephone interview.

Accelerated Underwriting for Qualifying Cases

Cases with face amounts up to $1 Million, ages 18-60, qualifying for Preferred or Super Preferred will be considered for Accelerated Underwriting, which is an expedited process where no medical exam or lab testing is required. Available for Term (10-, 15-, 20-, and 30-year), UL, IUL, VUL, SL, or Benefit VUL II (NY only).

Have your clients complete this checklist to see if they’re eligible for the program. If the client qualifies, the application will follow one of two paths:

  • Immediate approval in as little as 48 hours that proceeds to issue.
  • Underwriter determines that additional requirements are necessary and a final assessment is determined upon review.

A few of the Principal Drop-Ticket Accelerated Underwriting advantages include:

  • A non-invasive process for your client.
  • Easier sales track for the agent.
  • Improved overall cycle time.
  • Improved placement rate.

Why Submit Business to Principal?

  • Principal was founded in 1879 as an insurance company. Today, they're a member of the FORTUNE 500 and a global investment management leader
  • Financial Strength: A+ (Superior) from A.M. Best, A+ (Superior) from S&P.
  • The paperless drop-ticket program gets your client’s applications submitted fast and efficiently.
  • The #3 provider of group benefits (dental, life, disability) insurance. 

To get started, please contact your GBS Brokerage Manager at any time. We are here to assist and ensure your clients’ applications get submitted fast and efficiently. With this quick and easy process, you not only save time but also get paid faster. 




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