Principal of Record on Insurance policy

[phewi3]

What is the name of your state? California

What is a Principal of Record and how do you become one?

phewi3

 

[Betty]

You're asking about principal of record on ins. policy. I worked for an ins. co. for quite some years & never heard this term. Principal sum is an amt. payable by an ins. co. - normally, the amt. payable is called principal sum when death is due to an accident.
However, it seems as if you are talking about a person. A principal is also a party (such as yourself) who authorizes another party (such as an ins. agt.) to act on their behalf in contractual dealings with a 3rd party (such as an ins. co.).
It's possible some ins. companies might call their agents principal of record on policy instead of agt. of record on the policy. The co. I worked for called our ins. agents: agent of record on policy. (The agent who sold the policy to the insured.)
Where did you see this wording?

 

[Dandy Don]

This is an insurance industry designation--are you employed by the insurance industry or just a private individual with no connections to the industry?