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Business Profile

Life Insurance

Principal Financial Group

Headquarters

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BBB Accredited BusinessA+Rated by BBB

Reviews

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

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Principal Financial Group has 46 locations, listed below.

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    Customer Review Ratings

    1.04

    Average of 210 Customer Reviews

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    Review Details

    • Saralynn B

      Date: 01/11/2023

      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?

    • Brianda C

      Date: 01/06/2023

      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

    • Patricia T

      Date: 01/05/2023

      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.

    • Gus K

      Date: 12/28/2022

      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.

    • Gloria H.

      Date: 12/28/2022

      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!

    • Robin T

      Date: 12/07/2022

      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!

    • de frias n.

      Date: 11/08/2022

      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!

    • Flora P

      Date: 11/02/2022

      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!!

    • Anne V

      Date: 10/19/2022

      I’ve had excellent service from Principal and would recommend them to my friends and family.

    • Wendy D

      Date: 10/12/2022

      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!!!!

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