Frequently Asked Questions
Your Questions, Answered
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You can change how your investments are allocated in your Principal Financial account in one of two ways.
Option 1: Call Principal for Assistance
You may contact Principal directly, and a representative can help you make changes over the phone. Call Principal at: 1-800-547-7754
Option 2: Make Changes Online Through Your Account
You can also update your investment allocation yourself by logging in to your Principal account.
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To update your beneficiaries, please complete the Beneficiary Form and sign it at the bottom.
Once the form is filled out, you may return it to our office by mail, fax, or by uploading it through our Secure File Upload feature.
After we receive your updated form, our office will confirm receipt and let you know when the change is officially in effect.
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With each Employer contribution, WPF withholds 8.33% to pay Life and Long-Term Disability Insurance premiums for each participant. The remainder of the contribution is then transferred to Principal.
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WPF estimates your salary by assuming your employer contributes 12% of your pay to the Plan. For example, if your employer contributes $2,100, WPF assumes your salary is $17,500. Your life and disability benefits are based on that amount — not your actual paycheck. To receive the highest benefits, your employer contributions should reflect your full compensation (including housing and utilities for clergy).
Life Insurance
Age 30 or younger: 4x your salary
After age 30: Benefit decreases gradually each year
Ages 60–70: 1x your salary
Age 70+: 0.5x your salary
Maximum benefit: $550,000
Coverage ends when you retire or leave employment
Long-Term Disability (LTD)
Pays 60% of your salary
Maximum benefit: $10,000 per month
Benefits are reduced by Social Security or Workers’ Comp
You must be an active participant and provide proof of disability
At age 65, benefits last up to 36 months
UNUM plan booklets are available online for more details.
To protect your personal information, please use our Secure File Upload when sending documents or forms.