Get comprehensive rewards for your sales efforts.
Increase your earning potential by working with Principal. Place new business and retain business, and you may be eligible for the group benefit bonus programs. Principal offer two types of bonus programs.
Rewards you for placing business with Principal. The more you sell, the higher the bonus factor.
Whether you’ve sold several smaller cases, or a just few larger cases, you can qualify for a production bonus one of two ways:
- New sale credits
- Premium production
If you qualify for both, your bonus is based on the formula that results in the higher compensation. The bonus factor is applied to a maximum of $500,000 of annualized premium per coverage (dental, STD, LTD, life, vision and critical illness), per case.
Rewards you for placing and keeping business with Principal. The more you retain the higher the bonus factor.
The persistency bonus applies to voluntary and nonvoluntary dental, STD, LTD, life and vision coverage, and voluntary critical illness. The bonus factor is applied to a maximum of $500,000 of annualized renewal premium per coverage per case.
- Minimum of $50,000 in new premium; and
- Minimum of 15 active coverages inforce as of January 1, 2017; and
- Retain at least 85% of those coverages inforce through January 1, 2018; and
- Write a minimum of 15 new sale credits during the current calendar year; and
- Have $150,000 of renewal premium as of January 1, 2018.
View the Principal Bonus Programs 2017 Flyer for qualification criteria and calculation examples.