Cookies on BBB.org

We use cookies to give users the best content and online experience. By clicking “Accept All Cookies”, you agree to allow us to use all cookies. Visit our Privacy Policy to learn more.

Manage Cookies
Share
Business Profile

Life Insurance

Principal Financial Group

Headquarters

Reviews

This profile includes reviews for Principal Financial Group's headquarters and its corporate-owned locations. To view all corporate locations, see

Find a Location

Principal Financial Group has 46 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

    Country
    Please enter a valid location.

    Customer Review Ratings

    1.04/5 stars

    Average of 210 Customer Reviews

    Want to share your experience?

    Leave a Review

    Review Details

    • Review fromSaralynn B

      Date: 01/11/2023

      1 star
      This bank is the worst experience I’ve ever had with a business. I am a cancer patient with very sudden exceedingly large scale bills and I know legally per the IRS I am permitted for a one-time rollover from an IRA to a HSA. I filled out the application for this IRA to transfer into my HSA so I can afford my medical treatment and surgery. They literally blocked it claiming they require some made up “Letter of Acceptance” form that I could find no legit or legal verification /information about nor could they provide it. They said it has to come from the HSA financial company- and when I called that company to ask for it, they know nothing about this required letter nor would they create one for me. How is this even legal?
    • Review fromBrianda C

      Date: 01/06/2023

      1 star
      I have requested a withdrawl throught a QDRO. My application was approved through my ex husbands retirement fund. They sent over in Oct 2022. I called two weeks later and rep said theyd send out something within a week, a letter of some sort asking how I'd like my payout. A month passes by nothing, I call again and they said same thing. I call every week after and they all just push me off saying its pending. Now we are in Jan 2023 and reps are telling me they cannot give me any updates nor tell me who can call to see what is going on. I ask if my attorney whom prepared my QDRO should call and their reply is that they cannot answer that. Seems like their avoiding to release my money. But if you call to try to give them your business everyone is so helpful..till it comes to you requesting a withdrawal
    • Review fromPatricia T

      Date: 01/05/2023

      1 star
      Principal is horrible! I applied for a loan from my 401k and it didn't go direct deposit as expected. They claimed to mail it but it's been 10 days and no check.
    • Review fromGus K

      Date: 12/28/2022

      1 star
      A horrible company to have your retirement money at. Move yours out to other companies. This is the worst one by far. Once you decide to pull your money, you have to watch them because they will take revenge and try to hurt you as much as they can.

      I did a rollover to another 401k / Rollover IRA where I'm still working and contributing retirement money. Someone at Principal decided to keep the RMD portion and to deduct taxes on it. I never asked them for that and they are aware of the law that I am eligible to delay my RMD through the first 3 or 4 months into 2023.
      This must be purely a revenge frrom Principla's side to hurt me.
    • Review fromGloria H.

      Date: 12/28/2022

      1 star
      When I withdrew my funds from this company, I only received 10% of the total amount. I was shocked to say the least. When I contacted the company they said they were sorry but it was invested money & the amount I received was the result of their investment. "Sometimes it's up, sometimes it's down." When I began the application to direct deposit my funds, it took quite awhile to process, it seems so they waited until the market was low, this way there wasn't much for them to pay out. Building a company on the backs of investors is poor ethics in my book. This companys response? "Sorry mam." Knowledge is powerful. I leaned not only a hard lesson but an expensive one. All thanks to "Principal" taking care of my retirement!
    • Review fromRobin T

      Date: 12/07/2022

      1 star
      They are a joke! We tried to get fully vested available funds and have been “pending” payment for more than a month! Nobody can give us any answers either! It’s ridiculous!
    • Review fromde frias n.

      Date: 11/08/2022

      1 star
      These people are the worst!!! When I left the company I was working for I contacted them to see what my options where in reference to my 401-k and I was told by their advisor that I could leave the account opened with them and it will eventually become a self account not associated with my e employeer. So I decided to leave the 401 account opened with them to roll it over once I was hired by a new employer. About 2 days ago I received an email saying they closed the account, sent a distribution check upon my request (WHICH I NEVER GAVE TO ANYONE!!) and hit me with the federal income tax + what I have to declare when tax season comes around. They are plain unprofessional and not to mentioned they charged me a $175.00 fee for "MEMBER REQUESTED SERVICES" which I never requested ANYTHING!! I am very upset about this, this is plain and simple unethical and bad business!!! I will make sure to tell everyone I know and their mothers about this!
    • Review fromFlora P

      Date: 11/02/2022

      1 star
      I submitted all documents for my retirement pension in September 2022, I've called so many, many times to follow up and each time I call I get a different story. I have been lied to and given the run around since September. Principal Financial shame on you!!! I was told I would get my first payment on November 1st and I received NOTHING, still getting lied to and getting the run around.

      HORRIBLE HORRIBLE COMPANY!!
    • Review fromAnne V

      Date: 10/19/2022

      5 stars
      I’ve had excellent service from Principal and would recommend them to my friends and family.
    • Review fromWendy D

      Date: 10/12/2022

      1 star
      I have dental insurance with this company and they are not paying for my dental cleanings (or any part of my cleanings). Cleanings are a part of the benefit. The Principal Financial Dental group employee I spoke with said that I needed certain codes, but she said that she could not provide me with examples of the codes I need to get monies paid onto the dental bills. I have had this insurance beginning in July of 2019 and have not had any cleanings (or a portion of the cleanings) paid through this insurance since 2021. If I could, I would change dental insurance, but I can not because it is through my work. They were not helpful and I would not recommend this insurance.
      I agree with several other reviewers! They are not good, the take your money, but do not provide the benefit they describe! I also made many call to them about this over the years!
      Just don't use this company!!!!

    BBB Business Profiles may not be reproduced for sales or promotional purposes.

    BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.

    When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

    BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.

    As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.