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Application Deadline Update from Principal

Final Application Submission DateAll applications have to be submitted into Principal’s home office by September 30th. There currently is no deadline on when the policies have to be placed.

Term Conversions– As stated in the linked Q&A there is no change in term conversions. All term policies, even if not business related, will be convertible to all their current product offerings even after September 30th.

In Force Block of Protector Policies– The selling of the in force block of Protector business can take anywhere from 6 months to a year. Principal is trying to sell the block whereas they can still retain the responsibility of administering the business. This is of primary importance in the sale discussion

Principal’s July 2021 Q&A