Endorsement Split Dollar Submission Guidelines

Take advantage of complimentary, administrative services from Principal by making sure your business is submitted to our Business Market Administration (BMA) department.

Guidelines

1. Complete life insurance applications and accompanying life insurance illustrations, per NAIC regulations.
   • The employer (or a trust on behalf of employer) should be policyowner.
   • In Beneficiary section of each app, write “Refer to Endorsement Split Dollar Benefit Instructions.”
   • With each app, complete an Endorsement Split Dollar Benefit Instructions form (DD914E).
   • Sex distinct rates should apply.
   • To obtain life insurance applications, visit the Create Application Packet page in Virtual Supply, or Principal Advisor Network offices may use Life E-App (for Term and Universal Life products only).
     
2. Have customer complete an Endorsement Split Dollar agreement. Submit a copy of the completed document. You may refer to these sample agreements:
   • Sample Endorsement Split Dollar Agreement (BB10998)
   • Sample Endorsement Split Dollar - Tax Exempt Agreement (BB11008)
     
3. If corporate-owned, have authorized officer other than client sign as policy owner 1 .
   • For variable life insurance, submit documents identified in required Customer Identity Verification Form (MM2580)

1. Complete Business Case Submission Checklist (DD849R).
   
2. For Guaranteed Issue or Simplified Issue Underwriting, include a copy of the Principal home office email or letter which granted approval for this underwriting program. If you're using GI Term, you can use these emails to communicate the implementation process to the employer (LF1334) and employee (LF1335).
   
3. Prepare a cover letter/memo if there are any special instructions or requests.
   
4. Refer to the information below to submit above items.

1 If client is the only one authorized to sign as owner, include either a copy of Articles of Incorporation or explanatory letter on company letterhead.

Important Information

Insurance issued by Principal National Life Insurance Co. (except in NY) and Principal Life Insurance Co. Plan administrative services offered by Principal Life. Principal National and Principal Life are members of the Principal Financial Group ® , Des Moines, IA 50392.