Principal Financial Group Health Insuran
Principal Financial Group is not affiliated with, nor does it endorse or sponsor, the contents of this webpage or the HealthInsuranceCoverage.com website.
Principal Financial Group was founded in 1879 by Edward Temple upon forming Bankers Life Association, which offered life insurance to bankers and their employees. After ten years, the company had more than $29 million of life insurance in operation. Bankers Life's founder, Edward Temple, died in 1909, after which George Kuhns became president, taking a far more aggressive sales approach, increasing sales by almost $3 million after the new sales campaign's first year. The company not only survived tough times following the stock market crash of October 1929, but by 1940 had once again outgrown its offices for the seventh time, and in 1940 Bankers Life completed the construction of its main office building, accommodating 500 workers, the first completely air-conditioned building in Des Moines, IA. In 1941, Bankers issued its first group health insurance contract. In 1985, Bankers Life changed its name to Principal Financial Group.
Principal is now a member of the FORTUNE 500 and has $284.7 billion in assets under management, serving approximately 18.9 million customers in 14 countries throughout the world, including Asia, Australia, Europe, Latin America and the United States.
Principal Financial Group Health Insurance offers an array of options, depending on whether a more customer-driven policy is desired, such as a Health Savings Account (HSA) and a Flexible Spending Account (FSA) or if a more traditional solution is desired, such as Preferred Provider Organization (PPO). Principal Financial Group Health Insurance also offers multiple products and services within their medical insurance options, such as dental, vision and self-funded options. Principal Financial Group's website offers tools to assist potential or current policyholders, such as a provider directory, a forms library, office locations, calculators and rates/values.
Principal's recent awards and recognitions include being ranked in the Largest 500 Corporations (based on 2007 GAAP revenues in May of 2009). It has been a member of the S & P 500 since July 2002 and was recognized as the number 1 record keeper in the number of defined contribution plans and SIMPLE plans in an established insurance magazine's Recordkeeping Survey in June 2009, among many other awards and recognitions.
In Life and Health Insurance, Principal Financial Group's individual term life increased 25% in 2009 to $14.5 million. Voluntary sales increased 19% to $60.6 million in 2009, specialty benefits return on equity totaled 15.2 percent for the trailing 12 months ended at the end of 2009, and Principal serves 68,000 group employers and more than 4.6 million covered members. The Principal Financial Group, Inc. trades on the NYSE under the ticker symbol PDG.
