Open Enrollment: Protect What Matters Most
Voluntary Term Life Insurance – Offered through Principal®
Policyholder: BBB of MN and ND
Renewal Date: January 1 each year
Enrollment Window: 31 days from eligibility or qualifying life event
Your Coverage Options
| Member | Minimum Benefit | Guaranteed Issue | Maximum Benefit | Reduction |
|---|---|---|---|---|
| You | $20,000 | $100,000 (under age 70) | $300,000 | 35% at 70, +20% at 75 |
| Spouse | $5,000 | $25,000 (under age 70) | $100,000 | 35% at 70, +20% at 75 |
| Children | $5,000 or $10,000 | — | — | $1,000 under 14 days old |
Eligibility
Active, full‑time employees (working 30+ hours per week) may purchase coverage for themselves and eligible dependents. Seasonal, temporary, or contract employees are not eligible. Both spouses employed at BBB of MN and ND cannot enroll as both employee and spouse.
Accidental Death & Dismemberment (AD&D)
| Type of Loss | AD&D Benefit |
|---|---|
| Life, both hands/feet, or both eyes | 100% |
| One hand/foot or one eye | 50% |
| Thumb and index finger (same hand) | 25% |
| Seatbelt / airbag death benefit | $10,000 |
| Repatriation (death 100+ miles from home) | Up to $2,000 |
| Education benefit (dependent student) | $3,000 per year, up to 4 years |
| Quadriplegia | 100% |
| Paraplegia / hemiplegia | 50% |
| Loss of one limb, speech or hearing (partial) | 25‑50% |
Additional Benefits
- Accelerated Death Benefit: Receive part of your benefit if terminally ill.
- Coverage During Disability: Continue coverage without premium payment.
- Portability: Continue coverage after employment ends for you and dependents.
- Conversion: Convert terminated coverage to an individual policy.
Important Notes
This communication summarizes voluntary term life coverage insured by Principal Life Insurance Company (711 High Street, Des Moines, IA 50392). This is not an insurance contract; refer to your plan booklet for complete coverage, exclusions, and limitations.
Questions? Contact your HR representative or visit principal.com.