Principal Unveils Insurance Billing System

June 10, 2002 ( - 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.

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.