Complaints
This profile includes complaints for Principal Financial Group's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 318 total complaints in the last 3 years.
- 90 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:03/11/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have been trying for over a year to close an account of my deceased mother. Absolutely impossible to get any progress from anyone at this company. They request to send in documents, when they are sent there is absolutely no contact from anyone.
Business Response
Date: 03/25/2025
Thank you for forwarding the complaint. We will respond directly to the customer.Customer Answer
Date: 03/25/2025
Complaint: 23046698
I am rejecting this response because: the last piece of mail I received is the wrong customers name. Not in any way related to my mothers account.
The lack of information security is unbelievable.
Sincerely,
**** *******Business Response
Date: 04/01/2025
Thank you for forwarding the complaint. We will respond directly to the customer.Initial Complaint
Date:03/10/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I am beyond frustrated with how my recent withdrawal request and subsequent interactions with your company have been handled. This level of incompetence and disregard for your customers is shocking coming from an institution I thought I could trust. Let me start with the denial of my withdrawal request. I provided a formal letter from my landlord, clearly detailing my responsibility for repairs to my residence. Somehow, despite meeting your requirements, my request was inexplicably denied with no explanation provided. Am I expected to just guess what arbitrary hoops your company now expects me to jump through? I need answers immediately as to why this request was denied and what exactly Principal Financial Group thinks qualifies as "sufficient documentation." As if this wasnt already infuriating enough, my experience with your customer service team has been nothing short of a disaster. Repeatedly, Ive been subjected to vague, unhelpful, and *blatantly copied-and-pasted* responses that do nothing to address my specific situation. If your representatives cannot provide consistent, meaningful information, what is the point of contacting them? In one communication, I was told I could "modify the withdrawal request for a different purpose." Are your representatives seriously encouraging me to change my request into something deliberately misleading? I am already under considerable stress after receiving an eviction notice, and this lack of professionalism only adds insult to injury. Let me be very clear: I am not in a position to waste any more time on your companys inefficiencies and l deflections. I have been without hot water for over a week, and I need immediate access to my funds to resolve this issue. This is not a courtesy request; this is your obligation as a company I entrusted with my finances.Business Response
Date: 03/10/2025
Thank you for forwarding. Principal will respond directly to the complainantCustomer Answer
Date: 03/20/2025
Complaint: 23041378
I am rejecting this response because:I have personally tried to contact this person back several times and each time I got his voicemail and never got a call back. This to me is unacceptable. I have been trying to get help with doing a hardship withdrawal and it seems like Im getting nowhere fast with these people.
Sincerely,
******* *****Business Response
Date: 03/21/2025
Thank you for forwarding. Principal will respond directly to the complainantInitial Complaint
Date:03/06/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Formal Complaint Against Principal Life Insurance Company:I am a single mother with three young children. My divorce was finalized in *******, **, on July 20, 2023. Per the court-approved Final Decree, I was awarded half of my ex-husbands 401(k) through Principal Life Insurance Company, provided by his former employer, Ovintiv (*****************************************).As of March 6, 2025, I still do not have access to my share of the funds. Despite following all required procedures, Principal has failed to process the separation or transfer my portion.Over the past year, my efforts have been stonewalled by Principals lack of communication and an excessively prolonged process tangled in legal barriers.Efforts Made:Dozens of phone calls Principal refuses to discuss the account, claiming they legally cannot since it is not in my name.Submission of all required documents, including:My Final Divorce Decree.A QDRO, filed by my attorney per Principals exact standards.A court-approved addendum with my full Social Security number, as requested.Recent Call (March 6, 2025) Principal again refused to provide any update.Associated Plan ID: ******* Request Number: ****** Documented Emails:Jan 8, 2024 @ 1:35 PM Feb 4, 2024 @ 8:14 PM July 1, 2024 @ 6:14 PM March 6, 2025 @ 11:04 AM Despite repeated outreach and full compliance, I have received no resolution or transparency regarding my funds. This is *************** a single mother, I need these funds for my childrens well-being. It has been nearly two years since my divorce and over a year since submitting all required documents. Principals continued inaction is unjustifiable.I am filing this complaint to demand immediate resolution and release of my rightful funds without further delay.Business Response
Date: 03/07/2025
Thank you for forwarding. Principal will respond directly to the complainant.Customer Answer
Date: 03/07/2025
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
Emerald *******Initial Complaint
Date:03/03/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have submitted valid documents to the company and stared a hardship withdrawal over 28 days ago. I keep being told something different. I have spoken to over 25 agents and supervisor and now the manager. They have all necessary documents but will not process it. They are not following the terms of their procedures. Please help.Business Response
Date: 03/03/2025
Thank you for forwarding. Principal will respond directly to the complainant.Initial Complaint
Date:02/28/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Have repeatedly asked for normal information pertaining to my 401k and an illustration assuming an existing loan was paid off and the company will not provide this basic information to me. Their AI chatbot customer service is poor and getting them to directly address any of my questions has been a nightmare. All I want is basic information about my 401k investment with them.Business Response
Date: 02/28/2025
Thank you for forwarding. Principal will respond directly to the complainant.Initial Complaint
Date:02/24/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I am seeking to contribute more to my 401k and no one is able or willing to assist me.Business Response
Date: 02/25/2025
Thank you for forwarding. Principal will respond directly to the complainant.Initial Complaint
Date:02/20/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Injury requiring surgery required me to be off work. Filed for short-term disability through my employer. Principal Group handles it. Since filing over a month ago there have been constant delays including my case being denied. Most of this is due to communication issues and paperwork issues between Principal Group, my employer, and my provider. On at least three occasions I was told by Principal that they had not received documents that my provider assured they had sent and upon further review they had received the documents. Now my case is finally approved medically but I was told they are lacking documentation still from my HR department that they requested on 2/14. After calling Principal I was told that they had received the said documents on Monday 2/17 so they did have them before my case was reviewed on Tuesday 2/18. On two different calls at two different times today they were unable to connect me to a supervisor or anyone actively working on my case because they are offline. This company seems very poorly run and has been extremely detrimental to my mental health in what is already a trying time.Business Response
Date: 02/26/2025
This is a response to ******** Principal Life Insurance Company takes our responsibility to protect our customers confidentiality very seriously. Therefore, we will respond to the claimant directly. Please let me know if you have further questions.
Initial Complaint
Date:02/11/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I was laid off by my former employer. I had a 401k and loan from Principal. I was told multiple times on a recorded line that I was able to roll my 600k balance to my new employers 401k and keep my loan at Principal. THEY LIED. Now I have to take the loan as income, pay the taxes and penalty. THIS IS FRAUD!!!! Please help me bc they will not do anything. Also, I have made multiple payments on the loan that Principal has keep. This is an absolute travesty.Business Response
Date: 02/12/2025
Thank you for forwarding. Principal will respond directly to the complainantCustomer Answer
Date: 02/12/2025
Complaint: 22926680
I am rejecting this response because:
I was told incorrect information multiple times (on a recorded line) and now, I have to deal with the tax implications. Principal is 100% to blame for this and completely liable. BBB please help me understand why they are allowed to act fraudulently.Sincerely,
****** ******Business Response
Date: 02/13/2025
Thank you for forwarding. Principal will respond directly to the complainantInitial Complaint
Date:02/10/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
In August of this year I had Periodontal maintenance done at the recommendation of my long time dentist Dr. ***** *******. 3 separate appointments. After reviewing my policy, it stated that within my policy that periodontal maintenance is covered 100%. After reviewing the original claim, they denied it. At the advice of their costumer service representative, ******************* sent a corrected claim. Which they one again denied for lack of bone loss. The representative stated it was sent to a dental consultant, that they employ, to make that decision. Dr. ******* has show me the bone loss within the X-rays along with periocharting. I also have a diagnoses of osteopenia.Business Response
Date: 02/18/2025
Please find response for ********. Thank You.Initial Complaint
Date:02/05/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I resigned from my position at my job in July 2023. In January 2025, I attempted to withdraw my funds from my 401(k). This was supposed to be resolved within 5 to 10 days. It was not resolved within 20 days, so I called principal. They notified me that they have not released my funds because they did not my date of separation from the employer, which I had already provided to principal.They said they were booked into it and get back to me within five business days. Theyre refusing to release the funds that are rightfully mine.The market is declining, and I am losing money daily.Business Response
Date: 02/06/2025
Thank you for forwarding. Principal will respond directly to the complainant.
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