Principal Financial Group Voted Best ...

Principal Financial Group Voted Best Third-Party Claims Administrator by Business Insurance Readers

There are 4 comments on the story from Nov 16, 2009, titled Principal Financial Group Voted Best Third-Party Claims Administrator by Business Insurance Readers. In it, reports that:

The Principal Financial Group A came out on top as the best third-party benefit claims administrator according to readers of Business Insurance magazine.

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Atwater, OH

#1 Nov 19, 2009
What a load of crap!!! The only people who would give Principal Group this award is companies who hire them to deny all claims, including legit claims to disabled people and clients to save them money. I have this Principal Group as my Long Term Disability Company for 8 years and when I became disabled they have done nothing but denied my claim over and over again. I am in a wheelchair and unable to work anymore with progressive conditions and this people will do anything to avoid paying my disability benefits, including hiring bogus doctors to make exams and reviews to deny your claim and even hire private investigators to watch you and your house and do surveillance 24 hours a day. This company is sick. They promise to have your back if the unthinkable ever happened but when it happens they just give you their back and let you with anything, and in a financial chaos. I have over 5 doctors telling them I am disabled and even one of their doctors said I could no longer work in a FCE test they ordered and they still ignore it and hire more of their own doctors to say you're not, even when you're in a wheelchair.

If you are offered a Long Term Disability policy with this Principal Financial Group company, be aware that it is a scam and worthless. They will not honor the policy when you need it most and can't work. You will probably end up losing your home and being buried in debt, put your kids through hell cause you can't work and can't afford to even buy them school uniforms and basic things and worse, unless you have plenty of cash for an emergency like becoming disabled. This people won't help you and won't honor their policies and will do anything in their power to deny your claim and avoid paying benefits. Beware !!!

Caldwell, ID

#2 Feb 6, 2010
Here, here! I have been trying to get what is due me since 2006. I even had an IME by a physician of their choice who stated that indeed I was disabled but to no avail. Last year in February I was told the amount I would receive monthly. A few days later they denied my claim without stating a reason.

I have a great lawyer who is fighting this principle-less company on my behalf. Principal now says they want to settle. Why? Because we have them over the rope. A judge decided that our lawsuit will be heard in state court and not under ERISA. Why? Because my company was under a joint powers agreement and does not pay social security for their employees.

Stay tuned. I still don't believe they have good intentions.
dlb in mn

United States

#3 Apr 4, 2011
The most worthless company I have ever seen! Please people dont have any dealings with them.look around, there is nothing good said about them.
Richard S

West Jordan, UT

#4 Jan 31, 2013
Good luck trying to get 401K money back from them. I will never do business with this company again. Horrible experience.

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