Principal Universal Life Accumulation IISM

Product Guide

Table of contentsIntroduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

Key features . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

Target market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

General policy information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

Death benefit options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

Death benefit option changes and face amount adjustments . . . . . . . . . . . . . . . . . . . . . . 7

Reinstatement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

Policy and surrender charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Customer service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

FOR MORE INFORMATION

Go to www.principal.com/ulaccumulation2 or contact the National Sales Desk at 800-654-4278.

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IntroductionPrincipal Universal Life Accumulation IISM (UL Accumulation II) is a competitive cash accumulation

product . It is well-suited for both personal and business needs, and ideal for clients seeking long-

term cash value accumulation potential .

Key features• Competitivecashvaluesatavarietyofagesandfundingpatterns

• LivingbenefitsprovidedthroughtheChronic Illness Death Benefit Advance rider and Terminal

Illness Death Benefit Advance rider

• 10-year,no-lapseguarantee

• PotentialhighearlycashsurrendervalueforbusinesscaseswiththeSurrenderValue

Enhancement rider

• Over-loanprotectionwithLifePaid-Uprider

• Automatedincomedistribution

• Threedeathbenefitoptions

Target market• Ages35–55

• Clientsseekinglong-termcashvalueaccumulation

• Individualsandbusinessownerswhowanttoavoidsecondaryguaranteeproductsand

the investment risk of variable products

• Individualslookingforsupplementalretirementincome,estateplanningandcollege

funding solutions

• Businessownersseekingexecutivebonusandbuy-sellsolutions

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General policy informationThis is a summary of policy terms only. Please refer to the policy for actual terms and conditions.

Issue Ages 0-85,agenearestbirthdayrates(ANB).ThePrincipalFinancialGroup® reserves the right to change the issue ages at any time in the future .

Maturity Age Age 121:

• Premiumspayabletoage121areallowedandmayberequiredtoshow lifetime coverage .

• Chargescontinuetobedeductedtoattainedage121.

• ThematurityageisextendedtothedateofdeathwiththeExtendedCoveragerider.

Surrender Charge Duration

14 years for all issue ages

Interest Crediting Methodology

Portfolio

Guaranteed Minimum Interest Rate

2%

Policy Loans • Thereisnominimumloanamount.

• Themaximumloanamountisformula-driven.Statevariations may apply .

• Seethesamplepolicyonourfinancialprofessionalwebsitefor more details .

• Fixedloanchargerates:

− In policy years 1-10: 4 .50%

− Inpolicyyears11+:3.00%

− Intheextendedcoverageperiod:3.00%

• Loanedfundscreditingrates:3.00%inallyears(current);2.00% in all years (guaranteed)

1035 Exchanges with Outstanding Loans

• Loansareassumedatthenetinterestrateapplicabletoregularpolicy loans taken in years 1-10 .

• Nocompensationispaidonassumedloans.

• Loansareacceptedupto80percentofthenet1035plusanycashwith application amount .

Unscheduled Partial Surrenders

• Availableafterthefirstpolicyanniversary

• $500minimum

• Uptotwounscheduledpartialsurrendersareallowedperyear.Thesum of the two partial surrenders is limited to 75 percent of the net surrender value at the time of the first partial surrender .

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Preferred Partial Surrenders

• Partialsurrendersareallowedafterthefirstpolicyanniversarythrough the 15th policy year .

• TheseareonlyavailableforDeathBenefitOption(DBO)1.

• Maximumlifetimeamountis$250,000.

• Theamountavailableis10percentofthenetsurrendervalueasofthe end of the previous policy year .

• Themaximumamountavailableinanygivenyearisequaltothelesser of (a) + (b) or (c), where:

(a) Is the amount of the scheduled partial surrender planned for thatpolicyyear;

(b) Is the amount of any preferred partial surrender in the same policyyear;and

(c) Is 10 percent of the net surrender value as of the end of the previous policy year .

Scheduled Surrenders • Surrendersareavailableafterthefirstpolicyanniversary.

• Thepolicyownercanwithdrawpolicyvalueavailableforsurrenderautomaticallyonamonthly,quarterly,semi-annualorannualbasis.

• Partialsurrendersofthepolicy’scashvaluearemadeuptothepolicy’scostbasis,andthenswitchtoloans.

• Thereisnominimumsurrenderamount.

Internal Revenue Code (IRC) Section 7702

Testing

• CashValueAccumulationTest(CVAT)istheillustrativedefault.CVATisavailablewithDBO1,2and3.

• GuidelinePremiumTest(GPT)isalsoavailable.

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Key Underwriting and Policy Issue

Information

MINIMUM FULLy UNDERwRITTEN ISSUE AMOUNTS

Issue Age Underwriting ClassificationMinimum Face

Amount

0-15 Standard Non-Tobacco $25,000

16-19Standard Tobacco & Non-

Tobacco$25,000

20-85Preferred/Standard Tobacco & Preferred/Super Standard/

Standard Non-Tobacco$50,000

20-80 Super Preferred Non-Tobacco $50,000

• Gender-distinctandunisexratesareavailable.

• TermConversions–minimumfaceof$1,000(conversionsfromPrincipal Life Term)

• ULAccumulationIIisnotavailableforgroupconversions.

MINIMUM BUSINESS UNDERwRITTEN ISSUE AMOUNT: $100,000 FOR ALL PROGRAMS*

Issue Age Business Underwriting Program

Minimum # of Lives

18-70 Simplified Issue 5

81–85 Guaranteed Issue 10

*BusinessUnderwritingProgramsdonothavesurcharges.CostofInsurance(COI)rateswillreflectthefullmortalityforacase.TherewillnotbeanycompensationreductionsassociatedwithBusinessUnderwritingPrograms.AllBusinessUnderwritingProgramsrequirepre-approval.

SUBSTANDARD RATINGS FROM TABLE 2-16 (AVAILABILITy SEGMENTED By AGE)

Issue Age Substandard Rating Available

0-75 Table2-16,PlusFlatExtras

76-80 Table2-6,PlusFlatExtras

81-85 Table2-3,PlusFlatExtras

Policy Dating • Followsunderwritingapprovalinthehomeoffice.

• Ifreceivedonthe29th,30thor31st,thendateonthefirstofthefollowing month .

• Backdatingisallowedforuptosixmonthsbeforetheapplicationdateortheexamdate,whicheverislater.Policiesmaynotbebackdated beyond the state approval date . State variations apply .

Planned Premium Frequency Options

• Annual

• Semi-annual

• Quarterly

• Monthlypre-authorizedwithdrawal.Thedrawdateisthesameasthepolicydate.Flexdrawsarenotavailable.

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Principal UnderRightSM

Ourinnovativeteamapproachprovideslarge-caseandbusiness-caseexpertise,competitiveunderwriting and top-notch service .

• Accessibleandknowledgeableunderwriterswhospecializeinpersonalserviceforeachcase

• AutomaticStandardApprovalProgram(ASAP)–Table3toStandard

• AbalancedapproachtoPreferred:

− Favorablefactorsmayoffsetadversefactors.

• Tobacco/non-tobaccorates:

− Cigaruseof12orfewercigarsinprevious12monthsandanegativenicotinetestwillqualifyat non-tobacco rates .*

• TeleAppconvenience

• BusinessUnderwritingPrograms**

− GuaranteedIssue-$100,000minimum

− Simplified Underwriting, Standard Decline and TeleApp

*Subject to change .

**Subject to state variations . May not be available in all states .

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Death benefit optionsDEATh BENEFIT

OPTION 1 (DBO 1)DEATh BENEFIT

OPTION 2 (DBO 2)DEATh BENEFIT

OPTION 3 (DBO 3)

DeathBenefitPayable

FaceAmount FaceAmount+AccumulatedValue

FaceAmount+Cumulative Premiums

Paid–Surrenders

Description • TheAccumulatedValueincreaseswhilethe amount of pure insurance will decrease, keeping the death benefit level .

• Thedeathbenefitwillnever be less than the AccumulatedValuemultiplied by the percentage the Internal Revenue Code (IRC) specifies as necessary to qualifythepolicyaslife insurance .

• Policyownershavea variable death benefit, which will increase or decrease as accumulated values change .

• Thedeathbenefitwill never be less thantheFaceAmount .

• Thedeathbenefitwill be adjusted upward as necessary to comply with the IRCrequirementstoqualifythepolicyaslife insurance .

• Policyownershavea variable death benefit, which will increase as premiums are paid and decrease as partial surrenders are taken .

• PartialsurrendersandpolicyloanswilldecreasetheAccumulatedValueanddeath benefit .

POLICyyEAR

PREMIUMS PAID

DBO 2=FaceAmount+AccumulatedValue

DBO 3=FaceAmount+ Cumulative Premiums Paid (less surrenders)

DBO 1=FaceAmountFACE AMOUNT

ACCUMULATED VALUE

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Death benefit option changes and face amount adjustments

Death benefit option (DBO) changes

• Changesareallowedonorafterthefirstpolicyanniversary.

• ChangesareavailableonGuidelinePremiumTestonly.CashValueAccumulationTestmustbe

DBO1.

• DBO3canonlybeelectedatthetimeofissue.ChangestoDBO3arenotpermitted.

• DBOchangesarelimitedtotwoperpolicyyear.

• DBOchangeswillresultinafaceamountadjustmentsothatthenetamountatriskisthesame

immediately before and after the change .

• Faceamountafteranyreductionmustbeatleasttheminimumfaceamountasshownonthe

current policy data pages .

• AchangeinDBOrequiresnewdatapagestobeprovidedtotheclient.

• DBOchangesmayrequireproofofinsurabilitythatsatisfiesThePrincipal®, subject to then

current underwriting guidelines .

• DBOchangesafterthemaximumissueageareavailablesubjecttothethencurrentunderwriting

guidelines .

DEATh BENEFIT OPTION ChANGE*

RESULTING FACE AMOUNT ADjUSTMENT

DBO1toDBO2 Thefaceamountdecreasewillequaltheaccumulatedvalueontheeffective date of the change .

DBO1toDBO3 Not permitted .

DBO2toDBO1 Thefaceamountincreasewillequaltheaccumulatedvalueontheeffective date of the change .

DBO2toDBO3 Not permitted .

DBO3toDBO1 Thefaceamountincreasewillequaltheamountbywhichthetotalpremiumspaidexceedpartialsurrendersuptothedateofthechange .

DBO3toDBO2 The face amount will be adjusted by an amount determined by subtracting the accumulated value from the greater of, a) total premiumspaidlesspartialsurrendersand,b)zero.

*ADBOchangeissubjecttothelimitsasdefinedinIRCSection7702asamended.Anadditionalincreaseinfaceamountmayberequiredinordertomaintaincompliancewiththelimits.

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Face amount adjustments

Face amount increases are approved at a risk class determined by The Principal and are allowed if:

• Insuredisalive.

• Attainedageis85orless.

• Theincreasemeetsminimumfaceamountincreaserequirementsshownoncurrentdatapages:

− Non-GuaranteedIssueminimumfaceamountincrease=$50,000.

− GuaranteedIssue,Batch,andSimplifiedIssueminimumfaceincrease=$10,000;costofliving

face amount increases less than this are allowed .

• EvidenceofinsurabilityisprovidedbyclientandapprovedbyUnderwritingsubjectto

underwriting guidelines then in effect .

• Netamountatriskdoesnotexceedmaximumlimitsthenineffect.

• SuperPreferredrateclassnotavailableaboveage80.

Face amount decreases:

• Allowedafterthefirstpolicyyear.

• Limitedinyears2-5toacumulative35percentoforiginalfaceamountatissue.

− The35-percentlimitationdoesnotapplytoDBOchangesthatreducethefaceamount,orto

face amount decreases resulting from partial surrenders .

• Maynotcausethefaceamounttofallbelowtherequiredminimumfaceamountatissue.

Grace period

If planned periodic premiums or additional premium payments are not made and the net

accumulated value is insufficient to cover the monthly policy charge, the policy will enter the grace

period . The grace period is 61 days and begins when a notice of impending policy termination is

mailed to the policy owner . If sufficient payment is not received by the end of the grace period, the

policy terminates .

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ReinstatementIf the policy ends as described in the Grace Period provision and was not surrendered, the policy

may be reinstated provided the following:

1. The reinstatement is prior to the maturity date .

2. The policy has not been surrendered .

3. No more than three years have elapsed since the policy terminated .

4. The owner supplies evidence that satisfies The Principal that the insured is insurable under our

underwriting guidelines then in effect .

5.Theownereitherrepaysorreinstatesanyloanindebtednessexistingattermination.

6.Paymentissubmittedequalto(a)+[(b)/(c)],where:

(a)istheamountbywhichyournetaccumulatedvalueislessthanzerobeforedeductingthe

monthlypolicychargeonthemonthlydateprecedingthegraceperiod;

(b)isthreemonthlypolicycharges;

(c)is1minusthemaximumpremiumexpensechargepercentage.

Reinstatement will be effective on the monthly date on or following the date The Principal

approves it . The policy date will remain the original policy date . The surrender charges, if any, and

the monthly administration charge are calculated based on the number of years the policy was in

force . The period during which the policy was terminated is not included in these calculations . New

data pages will be received upon reinstatement . Some riders may not be reinstated .

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Policy and surrender chargesPremium loads Current:10%ofpremiumuptotargetinallyears;5%ofpremiumin

excessoftargetinallyears

Guaranteed:12%ofpremiumuptotargetinallyears;10%ofpremiuminexcessoftargetinallyears

Monthly administration

charges

Current: $7.50permonthinallyears

Guaranteed:$10permonthinallyears

Rider charges • WaiverofMonthlyPolicyCharge

• ChildrenTermInsurance

• LifePaid-Up

• SalaryIncrease

Cost of insurance rates

2001CSOSmoker/Non-Smokerdistinct,agenearestbirthday

Surrender charges (14-year

duration)

• Appliedtoaccumulatedvalueuponfullsurrenderorpolicyterminationasdescribedinthepolicy’sgraceperiodprovision.

• Nosurrenderchargeisdeductedfromdeathormaturityproceeds.

• Tableofmaximumsurrenderchargesislistedperpolicyyearinthepolicydata pages .

• Surrenderchargesvarybaseduponfaceamount,ageatissueoradjustment, smoking status and gender .

• Anyfaceamountincreasecarriesitsownsurrenderchargeandsurrendercharge period .

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Policy ridersThe following riders may not all be available in your state, and the terms of each rider may differ state by state.

Please refer to our financial professional website for state-specific sample rider forms..

ChANGE OF INSURED RIDER (SN 7 / SF 803)

Issue Ages 0-69

ExpiryAge Earliestofinsured’sattainedage70,policyterminationordeath

Cost There is no cost to have this rider on the policy .

Availability Businesscasesonly

BenefitProvided AllowstheownertonameanewinsuredforthepolicyifallqualifiersfortheChangeof Insured privilege in the rider are met . The total policy face amount and policy value remain the same . The surrender charge period continues and does not reset . Riders attached to the original policy end upon the change of insured . Riders for the new insured may be added per underwriting approval . Any loan indebtedness will remain as willanyexistingassignments.MonthlypolicychargeswillbebasedonthenewInsured’sattained age and risk class .

ChILDREN TERM INSURANCE RIDER (SN 49 / SF 892)

Issue Ages Available for base insured ages 15-55 . Available for an insured child aged 15 days to 17 years, withcoverageprovidedforamaximumdurationofthepolicyanniversaryfollowingtheinsuredchild’s25thbirthday.

ExpiryAge Earliestofterminationoftheowner’spolicy,insured’sattainedage65orreceiptoftheowner’snoticetocanceltherider.

Cost There is a cost deducted on each monthly date . An additional charge applies if the WaiverofMonthlyPolicyChargeriderisalsopresent.

Availability At issue

BenefitProvided Providesdeathbenefitprotectionforanychildwhomeetsthedefinitionofaninsuredchild.Childrenwhomeetthedefinitionofaninsuredchildsubsequenttotheinclusionofthisrideronaninsuredarealsocovered.Deathbenefitprotectionisofferedinunits,withoneunitequalto$1,000.Theminimumdeathbenefitprotectionis$5,000(5units)withamaximumof$25,000(25units).Thisriderprovidesthatifthebaseinsureddies while the policy is in force, the Children Term Insurance rider will continue as long asaqualifyinginsuredchildremains.Additionally,thisridergiveschildrenthefutureoption of increasing their coverage by purchasing permanent protection up to three timestheiroriginaldeathbenefitwithoutshowingtheyqualifyforcoverage(evidenceofinsurability).Pleasetalkwithyourclientsaboutthebenefitsavailabletotheirchildrenwhen they reach age 25 .

ExchangeProvision

Additionalflexibilityisaffordedeachinsuredchildthroughanexchangeprovisionthatworks as follows:

• Eachinsuredchildcanexchangecoverageforanytypeoflifepolicy(exceptTerm)available under our underwriting guidelines then in effect . The new policy will be issuedatthestandardriskclassthatispublishedatthetimeoftheexchange.

• Noevidenceofinsurabilityisrequired,provided:

− Theexchangeiscommencednoearlierthan90daysbefore,orlaterthan31daysafter,thedatetheexchangecanbemadeasdescribedbelow.

− Thefaceamountisnotlessthan$1,000perunitandisnotmorethan$3,000perunit of this rider .

• Theridercanbeexchangednolaterthantheearlierof:

− Policyanniversaryfollowingtheinsuredchild’s25thbirthday

− Theinsured’sattainedage65

− The death of the insured

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ChRONIC ILLNESS DEATh BENEFIT ADVANCE RIDER (SN 78 / SF 915)

Issue Ages 20-75

ExpiryAge Earliest of termination of policy, acceptance of a face amount increase in which the insureddoesn’tmeetthen-in-placeunderwritingguidelinestoqualify,arequestedfaceamountdecreasethatoccursafterbenefitshavebeentaken,receivingterminalbenefits,orexercisingtheLifePaid-Uprider.

Cost Thereisnocostforthisrideratissue.Iftheriderisexercised,areductionfactorisappliedtotherequestedacceleratedbenefitamount.A$150administrativefeeperclaim is also applied .

Availability Automatically added at issue and fully underwritten for issue ages 20-75 . Not allowed on Tableratings4andhigher,orpermanent/temporaryflatextrasof$7.51orhigherper$1,000.AmaximumoftwoChronicIllnessDeathBenefitAdvanceridersareallowedperinsured.

BenefitProvided PaysanaccelerateddeathbenefitupontheinsuredshowingproofofchronicillnessdefinedaseitherbeingunabletoperformatleasttwoofsixActivitiesofDailyLivingorhavingacognitiveimpairment.Eachacceleratedbenefitreducesthepolicy’sfaceamountbytheamountofthebenefit.Thepolicy’saccumulatedvalueisalsoproportionately reduced .

MaximumAccelerated

Benefit

Lesserof75percentofthefaceamountoninitialelection,or$1million.

Annual Maximum

Accelerated Benefit

Lesserof25percentofthefaceamountoninitialelection,ortheannualizedperdiemmaximumdividedbytheacceleratedbenefitreductionfactor.

Annual Minimum

Accelerated Benefit

Lesserof10percentofthefaceamountoninitialelection,or$10,000.

Minimum Residual Death

Benefit

Greaterof25percentofthefaceamountoninitialelection,or$10,000.

COST OF LIVING INCREASE RIDER (SN 14 / SF 794)

Issue Ages 0-52

ExpiryAge Earliest of attained age 55, any decrease in face amount, failure to accept an increase or policy termination . No cost of living increase offers will be made after attained age 55 .

Cost Thereisnocosttohavethisrideronthepolicy.However,whenanincreaseisexercised,the monthly policy charge and surrender charges will be increased to cover the costs of the charges for any increase in face amount made under the rider .

Availability At issue with increases offered in three-year increments from the policy date .

BenefitProvided Provides an opportunity to increase the face amount without evidence of insurability basedonincreasesintheConsumerPriceIndexforAllUrbanConsumers(CPI).Theamount of the increase will be the lesser of the calculated increase determined from the CPIorthemaximumcostoflivingincreaseshownoncurrentdatapages(30percentofbaseplanfaceor$100,000)lessthesumofanyfaceamountincreasesmadeduringtheprevious year at a standard or better risk class . An increase in premium will be necessary after accepting a cost of living increase offer to maintain the lapse protection guarantee period . Acceptance of a cost of living increase offer will have a direct effect on the cost andbenefitsofanyattachedWaiverofMonthlyPolicyChargerider,andwillaffecttheLapseProtectionValue.

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ExTENDED COVERAGE RIDER (SN 9 / SF 729)

Issue Ages 0-85

ExpiryAge None

Cost There is no cost to have this rider on the policy .

Availability Automatically added to policies in states where approved .

BenefitProvided Withtheincreaseinlifeexpectancies,thereisachanceyourclientmaylivebeyondthepolicy’sstatedmaturityageof121.Thisriderextendstheclient’smaturitydatetothedateofdeath,iflaterthanattainedage121.Thefulldeathbenefitispayableduringtheextendedcoverageperiod.

LIFE PAID-UP RIDER (OVER-LOAN PROTECTION) (SN 25 / SF 863)

Issue Ages 0-85

ExpiryAge Maturity (age 121)

Cost Ifactivated,thereisaone-timecharge(3.5%currentbasis,7.5%guaranteed)ofthepolicy’svalue.

Availability Added automatically at issue . It is also available to add after issue subject to state approval.Nounderwritingisrequired.

BenefitProvided Bymakingthepolicypaidup,thisriderpreventsthepolicyfromlapsingduetoalargeloan . See policy data pages for current and guaranteed loan indebtedness percentages applicable to activate the rider . In addition, for the rider to be activated, the insured must be age 75 or older, the policy must be in force for at least 15 years, and cumulative partialsurrendersmustequalorexceedtotalpremiumspaid.Seepolicyriderform for details .

SALARy INCREASE RIDER (SN 8 / SF 804)

Issue Ages 20-64

ExpiryAge Earliestofterminationoftheowner’spolicy,insured’sattainedage65orreceiptoftheowner’snoticetocanceltherider.

Cost Thereisachargefortheriderifthepolicyisratedortheriderbenefitamountexceeds$30,000.

Availability Businesscasesonly

MaximumAnnual Increase

$30,000(maybeincreasedto$100,000foramonthlypolicycharge)

MaximumLifetime Increase

$1million

BenefitProvided Allowsthepurchaseofadditionalinsuranceontheinsured’slifewithoutevidenceofinsurability as long as the policy and rider are in force and not in the grace period . Increases are available on an annual basis while the insured is actively at work according totheriderterms.Increasesareonlyofferediftheinsured’ssalaryhasincreasedduringthepolicyyear.Theamountoftheincreaseisafunctionoftheinsured’ssalarysubjecttotherider’smaximumincrease.

SURRENDER VALUE ENhANCEMENT RIDER (SN 42 / SF 880)

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Issue Ages 20-75

ExpiryAge Theendoftheseven-yearbenefitperiod

Cost Thereisachargeequalto3percentofpremiumsinexcessoftargetpremiumpaidduringthebenefitperiodoftherider.Commissionsarealsoaffected.

Availability At issue only . Used for cases focused on high early cash value accumulation . It is only availableforbusiness-sponsoredandpremiumfinancingcases.

BenefitProvided Increases cash surrender value in years one through seven .

TERMINAL ILLNESS DEATh BENEFIT ADVANCE RIDER (SN 79 / SF 916)

Issue Ages 0-85

ExpiryAge Maturity

Cost There is no cost to have this rider on the policy . A one-time administrative charge of up to$150maybeimposedwhentheriderisexercised.

Availability It is available to all policy owners and covers the insured . There are no special underwritingrequirements.Itmaybeaddedatanytime.

BenefitProvided Paysanacceleratedbenefituponinsuredshowingproofofaterminalillnessasdefinedinthepolicyriderform.TheacceleratedbenefitthatmaybereceivedisthelesseroftheAcceleratedBenefitsCapshownonthecurrentdatapages,or75percentoftheeligibleface amount minus any outstanding policy loans, unpaid loan interest and previously paidacceleratedbenefit,nottoexceed$1million.Theacceleratedbenefitisconsideredalienagainstthepolicyandaccrueswithinterest.Atthetimeofdeath,thebeneficiaryreceivesthepolicydeathbenefitminusthebenefitadvanceandapplicableinterest.Theminimumamountofanypaymentis$500.

wAIVER OF MONThLy POLICy ChARGE RIDER (SN 26 / SF 864)

Issue Ages 0-59

ExpiryAge 65 (unless on waiver claim)

Cost There is a charge to have this rider on the policy . The cost of the rider is deducted on each monthly date .

Availability It is available at issue or as an underwritten adjustment . The policy must be rated a Table 6orbetter.Theriderisnotallowedifflatextrasper$1,000equalorexceed$5formorethan two years . A separate rating may additionally apply to the rider .

BenefitProvided Iftheinsuredisdisabledandmeetsthenecessaryrequirementsasstatedintheriderpolicyform,monthlypolicychargesforthepolicybenefitswillbewaived(orcreditedtotheaccumulatedvalueifalreadydeducted).Benefitsarelimitedfordisabilityoccurringafter age 59 . Note that a policy loan has the potential to lapse a policy during the waiver period even when monthly policy charges are being waived .

Underwriting Riders

• AviationExclusion(SN10/SF612)

• HazardousSportsExclusion(SN11/SF618)

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Customer serviceWemakeiteasyforpolicyownerstostayinformedabouttheirpoliciesandmakesimplepolicy

adjustments .

Communications sent from the home office include:

• Annualstatementsthatshowthecurrentstateofaclient’spolicy.

• Plannedperiodicpremiumnotices.

Principal.com access

Customers have access to their policy information 24 hours a day, seven days a week with

www.principal.com.Viatheirpersonallogin,theycan:

• Updatetheirmailingaddress.

• Viewbalances,cashvalueorbenefitamountsintheircontractsandpolicies.

The site is updated daily, and confidential policy information is accessible only to the customer . A

personalidentificationnumber(PIN)isrequiredtoaccesspersonalinformation.Ifacustomerdoes

not have one, he or she can obtain a PIN immediately by calling 800-247-9988 .

Telephone access

Customers may also access routine policy information via our automated telephone system by

calling 800-247-9988 . The system is available from 7 a . m . to midnight (Central Time) Sunday

throughFridayand7a.m.to9p.m.Saturday.

we’LL GIve yOU An eDGe®

PrincipalNationalLifeInsuranceCompanyandPrincipalLifeInsuranceCompany,DesMoines,Iowa50392-0002,www.principal.com

InsuranceproductsfromthePrincipalFinancialGroup(ThePrincipal)areissuedbyPrincipalNationalLifeInsuranceCompany(exceptinNewyork)andPrincipalLifeInsuranceCompany,DesMoines,IA50392.

Not FDIC or NCUA insured May lose value • Not a deposit • No bank or credit union guarantee

Not insured by any Federal government agency

Forproduceruseonly.Notforuseinsalessituations.

BB10841|01/2013|t121211020o

PolicyFormSN76|RiderForms:SN7,8,9,10,11,14,25,38,41,49,54,and79 PolicyFormSF913|RiderForms:SF612,618,729,794,803,804,863,879,892,898,915,and916