Estate planning at Principal
How to protect 19 Principal accounts — manage beneficiaries online, fund a trust by mail, and file death claims
Principal Financial Group, 711 High Street, Des Moines, IA 50392-0001
Principal Financial Group, 711 High Street, Des Moines, IA 50392-0001
Individual Life Claims
Principal Life Insurance Company / Principal National Life Insurance Company, P.O. Box 10431, Des Moines, IA 50306-0431 (overnight: 711 High Street, IDPC-M1-E10, Des Moines, IA 50392-4510)
With 19 products relevant to estate planning, Principal policyholders need to understand how beneficiary designations control where proceeds go. These designations override a will, so the names on file with Principal are what determine who receives the death benefit.
Beneficiary designations at Principal can be managed online, by mail, and by phone, typically taking 10-15 minutes online for retirement accounts; 15-30 minutes by mail for life insurance. Trust funding is also available, allowing families to name a trust as the policy beneficiary or establish an irrevocable life insurance trust (ILIT).
There are two sides to estate planning at Principal: setting things up while you're alive, and the process survivors follow after a death.
Preparing your estate
Beneficiaries and trust funding
How to manage beneficiaries online, fund a trust by mail, and review 19 account types at Principal.
View details →When someone dies
Death claim process
9-step process, 13 required documents, and contact information for survivors.
View details →Frequently asked questions
Yes. Principal allows trusts to own deferred annuities (variable and registered index-linked). To transfer annuity ownership to a trust, complete the Ownership Change Form (DD425) along with the Trust Certification and Indemnification form (DD9093). A grantor trust (such as a revocable living trust) generally preserves the annuity's tax-deferred status under IRC Section 72(u), as the trust is treated as an agent for a natural person. Irrevocable trusts with all-natural-person beneficiaries may also qualify. Income annuities (already annuitized) generally cannot be transferred once the income stream has begun, but a trust can be named as beneficiary.
Sources
- principal.com
- secure02.principal.com
- benefitenrollment.individuals.principal.com
- forms.insurance.claims.principal.com
- secure05.principal.com
Data sourced from Principal primary sources (24 pages reviewed). How we research.
Principal Financial Group, 711 High Street, Des Moines, IA 50392-0001
Principal Financial Group, 711 High Street, Des Moines, IA 50392-0001
Individual Life Claims
Principal Life Insurance Company / Principal National Life Insurance Company, P.O. Box 10431, Des Moines, IA 50306-0431 (overnight: 711 High Street, IDPC-M1-E10, Des Moines, IA 50392-4510)
Estate planning articles
Learn how to protect your Principal accounts and other assets with trusts, beneficiary designations, and estate planning documents.
