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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

    • Piper S

      Date: 04/11/2024

      I had to pay $50 to get my money transferred out of Principal.

    • Fiorella N

      Date: 04/05/2024

      I have a 401 and 403 Distribution request from Principal. I called to get help and properly filled the forms and who helped me gave me all the info wrong. I have been calling maybe 15 times in the last two weeks, every customer service representative gave me different info. Sometimes they just said to wait to receive a notification. Im still not receiving any payment.

    • Rebecca B

      Date: 03/27/2024

      I urgent this company to be reviewed before being utilized. I have been trying to roll over my 401 for three years. 1- representatives require training. Every one you speak with provides you with incorrect information. If this Company stakeholders review my calls they will highly disappointed in their employees. 1 rep- ***** you cant email documents rep-#2 oh idk why they told You no you can email during xyz@. Rep 3 ***** we havent received your email and we have to wait no other way.. Manager sorry pleas email it to me and I can confirm receipt. Rep 1 we can direct deposit Rep 2 not sure who told you but we dont direct depoist. This company is NOT qualified to oversee retirement accounts. I feel bad for the elders who have to deal with this back and forth. This is their money and should be handled with competent individuals. Please train your employees!!

    • Lynna A

      Date: 03/19/2024

      Insisting on a third party account number to wire transfer my 401K money to. Two different banks have told them they don't use a third party account to receive wire transfers. They have held my money, out of an account, not drawing interest for about 2 weeks. When I asked them about it, they said they can't be responsible for returned money. It was returned to Principal due to the confusion of the account number requested. It's going to take ******************** another couple of days to process the transfer.

    • Sheila B

      Date: 02/29/2024

      Horrible ***************** System is so far behind in time My annuity is there only because Fidelity farmed out my account to them without my knowledge.Customer Service the people are nice but poor communication If your money is there take it out and send it somewhere else.

    • DENNIS F

      Date: 02/16/2024

      The new "User Login Experience" is the worst I've ever seen. The last four times I tried to access my account it would not accept either my login or password, which requires a phone call to them. It's usually about 20 minutes of annoying music and automated attendant telling me how special I am and they'll be right with me.When a "live" person comes on, you have to explain the entire issue again. The "solution" requires another 15 minutes of aggravation of creating a new login, new password (oh, and you can't use any of the last 30 passwords!!!!!). Every attempt requires a text confirmation to your phone to keep moving forward.If this happens again, I'm going to make it the LAST time I login and will transfer all of my funds elsewhere.

    • Maureen R

      Date: 02/09/2024

      They do not even get a star. My husband was given false information that prolonged his employer of transferring the funds to an **** out of 9 phone calls, Principal kept putting the fault onto my husbands employer. Several of the phone calls we were verbally abused and screamed at. Those people also put us on permanent hold several times. ************ has too many Narcissistic employees who are manipulative and disrespectful, ************ is holding my husbands money hostage.

    • Alex M

      Date: 02/09/2024

      I had held a *************** with Principal through my former employer and because the balance was below the minimum threshold it was transferred to a low interest bearing account. While it was held there they proceeded to charge a $15 annual fee with a miniscule .65% annual return which resulted in an annual net loss in the account. When I reviewed my statement at the end of the year I decided to rollover my **** to an account with a different brokerage and was charged a $40 fee to do so, UNBELIEVEABLE. I reached out to the customer service department at ******************** to dispute the $55 in charges I incurred for little to no activity. Their response included the following "this is our fee structure that management has approved, there is nothing we can do for you". Very, very disappointing I told the representative that I couldn't get my money out of their fast enough. If you are considering doing business or investing with this company....DON'T. They will fee you to death and give little to no regard to building relationships with their current or former customers. I told them I might have considered continued investment with this Principal but their poor customer service and excessive fees turned me away immediately. No surprise at the time of this review - 2/9/2024 - that their average customer rating is **** stars out of 5.

    • Susan M

      Date: 02/08/2024

      I have a defined benefit pension plan and my previous employer uses Principle. I sent in my paper for a January 1st distribution. Still no payment, I have called many times and have gotten the response they are working on it. No, communication what so ever from the company, although my money is guaranteed by the **** I am worried.

    • Michele K

      Date: 02/06/2024

      **** sent out incorrect **** info and have refused to correct my form and reissue. Terrible. They say if you enter your address online that does not change your address for taxes. You have to call them and tell them to change it. Terrible.

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