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Investment Type: coli

Principal LifeTime 2020 Division







Quick Facts


08/30/2004
Target Date 2016-2020
$224.38

Investment Strategy

   What's this?
The investment seeks a total return consisting of long-term growth of capital and current income. The fund operates as a "target date fund." It invests in underlying Principal Funds, Inc. ("PFI") domestic and foreign equity, real asset and alternative investments, and fixed-income funds and other Principal Variable Contracts Funds, Inc. ("PVC") Accounts according to an asset allocation strategy designed for investors having a retirement investment goal close to the year in the Account's name. Within 10 to 15 years after its target year, the Account's underlying fund allocation is expected to match that of the Principal LifeTime Strategic Income Account.




Morningstar Style Box™

  as of 02/28/2014
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Investment Style
Stylebox Market Capitalization
Investment Style
Stylebox Market Capitalization

Overall Morningstar Star Rating™

  as of 03/31/2014
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Out of 186 Target Date 2016-2020 Funds

StarRating

Morningstar's Star Ratings reflect risk adjusted performance and are derived from a weighted average of the performance figures associated with its three, five, and ten-year (if applicable) time periods.


Total Returns



The investment results shown represent historical returns based upon the assumption variable universal life insurance products and variable annuity products were available for the periods shown. Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data shown. Since the investment results and unit values of the divisions will fluctuate, the policy's accumulated value may at any time be more or less than the total premiums paid under the contract, including upon surrender of the contract. For more performance information, including the most recent month-end performance, please contact 800-247-9988 for variable life products or 800-852-4450 for variable annuity products.


Month-End | Quarter-End
Average Annual Total Returns as of 03/31/2014
1 Month3 MonthYTD1 Year3 Year5 Year10 YearSince     
Inception*
Total Return % -0.14 1.62 1.62 11.83 8.61 16.50 --- 6.59
S&P Target Date 2020 Index % 0.29 1.61 1.61 10.85 8.01 13.91 6.12 ---
Target Date 2016-2020 Category % -0.06 1.53 1.53 8.71 6.95 13.86 5.24 ---
Morningstar Percentile Rankings** --- --- --- 17 10 6 --- ---
# of Funds in Category 245 240 240 220 186 169 38 ---
08/30/2004
**Morningstar percentile rankings are based on total returns.


Expenses

  as of 03/31/2014
Total Investment Expense - Net: 0.64%



Growth of $10,000

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Performance displayed is based on the inception date returns and does not include extended performance.



Inv Manager or Sub-Advisor

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Principal Management Corp

Principal Global Investors



Portfolio Managers

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Dirk Laschanzky , CFA
Since 08/30/2004
M.B.A. , University of Iowa

Randy L. Welch
Since 06/01/2007
M.B.A. , Drake University

James W. Fennessey , CFA
Since 06/01/2007
B.S. , Truman State University

Jeffrey R. Tyler , CFA
Since 03/01/2011
Master , Northwestern University

Matthew Annenberg , CFA
Since 03/15/2013
B.A. , Harvard College






Morningstar
© 2014 Morningstar, Inc. All Rights Reserved. Part of the mutual fund data contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Returns shown reflect all investment management charges and any miscellaneous expenses incurred by the underlying accounts of the divisions. Returns do not include premium expense charges and various monthly deductions (administration charges, cost of insurance, and mortality and expense risks charges) which vary by contract. In addition, results do not reflect the premium expense charge or the surrender charge levied if the policy is surrendered during the first 10 policy years, or within 10 years after a face amount increase. If these fees and charges had been deducted, the results shown would be significantly lower. These charges are explained fully in the prospectus and their effect upon cash surrender values are best explained by reviewing several hypothetical illustrations contained in the prospectus. For a personalized illustration of historical performance, which reflects the cost of insurance protection, contact your registered representative.

The initial offering of Executive Variable Universal Life (Executive VUL) was May 28, 2002. The initial offering of Benefit Variable Universal Life (Benefit VUL) was September, 2002. The initial offering of PrinFlex® Life was February 7, 1997. The initial offering of Principal Variable Universal Life (VUL) Income was August 23, 2004. The initial offering of Principal Variable Universal Life (VUL) Income Plus, the VUL Income with the Surrender Charge Adjustment Rider, was February 18, 2006. The initial offering of Principal Variable Universal Life (VUL) Accumulator II was February 11, 2003. The initial offering of Variable Universal Life Accumulator was November 19, 2001. The initial offering of Flex Variable Life Insurance was November 1, 1988. The initial offering of Survivorship Variable Universal Life was July 1, 1999. The initial offering of The Principal Variable Annuity was June 16, 1994. The initial offering of Principal Freedom Variable Annuity was April 30, 1999. The initial offering of The Principal Investment Plus Variable Annuity was January 4, 2005. The initial offering of Principal Freedom Variable Annuity 2 was September 18, 2006. The initial offering of Principal Variable Universal Life (VUL) Income II was 07/03/2008. The initial offering of Executive Variable Universal Life II (Executive VUL II) was October 3, 2008. The initial offering of Benefit Variable Universal Life II (Benefit VUL II) was October 3, 2008. Some of the underlying funds into which the divisions invest were offered prior to these dates. Inception dates are noted.

This material is authorized for distribution to prospective investors only when preceded or accompanied by a current prospectus for the Variable Universal Life product or Variable Annuity product and the underlying investment options. Insurance products from the Principal Financial Group® are issued by Principal National Life Insurance Company (except in New York) and Principal Life Insurance Company. Securities offered through Princor Financial Services Corporation, 800-247-9988, member SIPC. Principal National, Principal Life, and Princor® are members of the Principal Financial Group®, Des Moines, IA 50392.

Not FDIC Insured
May Lose Value - Not a Deposit - No Bank Guarantee
Not Insured by any Federal Government Agency

Fees and expenses are only one of several factors that participants and beneficiaries should consider when making investment decisions.  The cumulative effect of fees and expenses can substantially reduce the growth of a participant's or beneficiary's retirement account.  Participants and beneficiaries can visit the Employee Benefit Security Administration's website for an example demonstrating the long-term effect of fees and expenses.

S&P Target Date 2020 Index provides varying levels of exposure to equities and fixed income. Each target date allocation is created and retired according to a pre-determined schedule related to the respective target date.

Equity investment options involve greater risk, including heightened volatility, than fixed-income investment options. Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise.

The Investment Advisor will display "Multiple Sub-Advisors" for certain target-date, target-risk and specialty investment options where the assets are directed by the Investment Manager to multiple underlying investment options. These underlying investment options may use multiple sub-advisors who are responsible for the day-to-day management responsibilities.

Asset allocation does not guarantee a profit or protect against a loss. Investing in real estate, small-cap, international, and high-yield investment options involves additional risks. Additionally there is no guarantee this investment option will provide adequate income at or through retirement.

Fixed-income and asset allocation investment options that invest in mortgage securities are subject to increased risk due to real estate exposure.

This Principal Variable Contracts LifeTime Fund indirectly bears its pro rata share of the management fees incurred by the underlying Principal Variable Contracts Funds in which this fund invests. Based on the asset allocation of the Principal Variable Contracts LifeTime Funds outlined in the prospectus dated May 1, 2013, the weighted average operating expenses of the underlying funds are: Principal LifeTime Strategic Income, 0.51%; Principal LifeTime 2010, 0.55%; Principal LifeTime 2020, 0.60%; Principal LifeTime 2030, 0.63%; Principal LifeTime 2040, 0.65%; Principal LifeTime 2050, 0.67%; Principal LifeTime 2060, 0.67%. These expenses are reflected in the Total Investment Expense.