New underwriting program designed to help small business owners obtained cost effective DI coverage.
Increase your opportunities with small business owners using Principal’s new 3-3-3 program. It allows you to provide small business owners a pre-approved 3A occupation class offer when they meet these simple eligibility guidelines1:
- 3+ years as owner of their business
- 3+ employees (in addition to themselves) or sub-contract manual labor
- $30,000+ net income in each of the previous two years
How it works
1 | Identify prospects that meet the eligibility guidelines.
2 | Request a pre-approved Disability Income quote by sending an email to info@truluma.com or calling 206.633.2922
3 | Receive a quote at a 3A occupation class rate – guaranteed. Some offers may have limited benefits, so we’ll also offer an alternate class at standard benefits. For example, an owner of a plumbing company who does much of the labor might receive two options, such as:
- Offer at a 3A occupation with a $2,500 benefit and 5-year benefit duration;
or
- Traditional maximum benefit quote at a 2A occupation rate
Benefits for you
- It’s a quick and easy process for you to explain to your clients.
- Working with business owners can diversify your client base.
- Establishing relationships with small businesses with a chance for growth can lead to future revenue opportunities from additional business owner and employee solutions.
Good business candidates
- Contractors
- Electricians
- Plumbers
- Restaurant/hospitality
Other things to know
- The program is available in all states with Disability Income insurance only.
- Healthcare-related occupations (“-M” occupations) are not eligible.
- The program is available until Dec. 31, 2021, or until discontinued.
1 The program provides a 3A occupation class offer for qualified candidates. It is not a Guaranteed Standard Issue (GSI) or Fall Back program.
