Principal Puts More Term Life Insurance in Force
July 29, 2020 by Allison Bell
Principal Financial Group was providing $446 billion in individual life insurance protection at the end of June, or 12% more protection against death than it was providing a year earlier.
The Des Moines, Iowa-based life insurer increased the amount of protection it was providing through individual universal life and variable universal life by 3.1%, to $95 billion.
The life insurer increased the amount of protection it was providing through term life and whole life by 15%, to $351 billion.
The company did that while sending about 92% of its workers to work at home, because of COVID-19, and while turning a profit.