Principal 2020 Broker Bonus Programs
Principal 2020 Broker Bonus ProgramsFebruary 18, 2020
Earn more with Principal’s two bonus programs: the Production Bonus and the Persistency Bonus. Both programs apply to voluntary and non-voluntary dental, STD, LTD, life, and vision coverage, voluntary accident, and voluntary critical illness.
Earn rewards for placing new business with Principal. The more you sell, the higher the bonus factor. Whether you sell several smaller cases or just a few larger cases, you can qualify for a production bonus based on new sale credits.
Earn rewards for placing and keeping business with Principal. The more premium you retain the higher the bonus factor.
Qualifying For The Production and Persistency Bonus Programs
There are more ways to get into Principal’s bonus program than just selling their group insurance products. Earn one new sale credit for each of these qualifying coverages or services:
- Voluntary or non-voluntary dental, STD, LTD, life or vision.
- Employer-sponsored individual disability insurance.
- eBenefits Edge Total Management (Total Management) services sold.
Earn one-half credit for voluntary accident or voluntary critical illness.
Privileged Partner Program – Two Levels of Recognition
With two prestigious membership levels: Elite and Platinum, the Privileged Partner Program provides Principal’s highest level of available services, business support, and additional compensation.
Elite Membership Requires
- 60 new coverages, 85% premium persistency, and $500,000 inforce premium in the previous calendar year; OR
- 40 new coverages, 85% premium persistency, and $2.5 million inforce premium in the previous calendar year.
Platinum Membership Requires
- 30 new coverages and 85% premium persistency.
Additional Bonus with Elite or Platinum Status
Earn even more for placing and maintaining group benefits business with coverages sold in the year of your Elite or Platinum status.
- 1% x annualized first-year premium bonus with 40+ new coverages.
- 2% bonus (1% additional bonus x annualized first-year premium) with 50+ new coverages.
Your success is important to us, and we’re actively working on new solutions to support you throughout the year. To get the latest news via text messaging in the future, simply provide your cell phone number here.