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Products October 6, 2002
Principal Unveils Insurance Billing System
June 10, 2002 (PLANSPONSOR.com) - Companies using
The Principal Financial Group's insurance products as part of
their benefit package may now have an easier time
administering their benefits program.
Reported by Fred Schneyer
According to a Principal press release, the company has unveiled a simplified and more flexible billing system for voluntary dental and voluntary term life insurance offered by Principal Life Insurance Company.
The company’s new billing options allow employers to select a billing method that matches their payroll cycles at no additional cost. Premiums can be displayed in one of four billing schedules to better track payroll deductions:
- bi-weekly
- weekly
- bi-monthly
- monthly
Employers working with The Principal also have access to a variety of Web tools via the group’s Web site.
By accessing the secured site, employers can add new members and making member changes, review and print billing statements, and pay premiums via electronic funds transfer.