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  2. Variable Annuity Performance Update
  3. Principal Lifetime Income SolutionsSM
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Principal Lifetime Income SolutionsSM
Performance Update

Variable annuities are long term investments and thus are not suitable for everyone; earnings grow tax-deferred.

The initial offering of The Principal Lifetime Income SolutionsSM was May 21, 2011. The separate account that funds the contract was established on January 12, 1970.

The investment results shown represent historical returns based upon the assumption that the Principal Lifetime Income SolutionsSM was 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. For more performance information, including most recent month-end performance, visit our Web site at www.principal.com and click on "Rates & Values."

The return and principal value of an investment in any subaccount will fluctuate so that the value, when redeemed, may be worth more or less than its original cost.

Except where noted, investment results include all charges and expenses, including a contingent deferred surrender charge (which declines from a maximum of 6%) but excluding any additional charges for riders.

Before investing in a variable annuity, investors should carefully consider the investment objectives, risks, charges and expenses of the contract and its underlying investment options. This and other information is contained in the free prospectus and, if available, the summary prospectus which can be obtained online or call customer service at 1.800.852.4450. Please read the prospectus and, if available, the summary prospectus carefully before investing.

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

An investment in the Fidelity VIP Government Money Market Subaccount is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Although the underlying mutual fund invested in by the subaccount seeks to preserve the value of your investment at $1 per share, the subaccount itself does not seek to maintain a stable net asset value. It is possible to lose money investing in this subaccount.

The Money Market Subaccount is only available to contract owners in the state of California, and only during the free look period.

This information is not valid unless accompanied by the average annual total returns as of the most recent calendar quarter. This information can be found on www.principal.com, click on the "Rates and Values" link, then on the "Quarterly Performance Update" link.

Principal Lifetime Income SolutionsSM
Monthly Performance Update
as of 04/30/2017		 Performance Including
Surrender Charges
Subaccount Subaccount
Inception
Date		 Total
Expenses		 Unit Value
(UV)
as of
05/19/2017		 Daily
Change
in UV		 YTD 1 Year 3 Year 5 Year 10 Year Since
Portfolio
Inception *		 Since
Subaccount
Inception *
SHORT-TERM FIXED INCOME
FIDELITY GOV MONEY MARKET 02/05/2016 0.25% 9.857702 - 0.000223 n/a n/a n/a n/a n/a n/a -6.06
BALANCED/ASSET ALLOCATION
DIV BALNCD MNGD VOLATILTY 10/31/2013 0.64% 11.393439 0.048049 -2.68 0.24 2.00 n/a n/a 2.87 2.87
DIV GROWTH MNGD VOLATILTY 10/31/2013 0.65% 11.684389 0.057784 -1.88 2.54 2.80 n/a n/a 3.77 3.77
DIVERSIFIED BALANCED 12/30/2009 0.550% 15.403441 0.049392 -2.43 0.87 2.32 4.95 n/a 6.01 6.01
DIVERSIFIED GROWTH 12/30/2009 0.55% 16.780832 0.089368 -1.54 3.37 3.24 6.49 n/a 7.25 7.25
DIVERSIFIED INCOME 05/15/2012 0.55% 12.498271 0.028862 -3.25 -1.55 1.42 n/a n/a 3.95 3.95



Principal Lifetime Income SolutionsSM
Monthly Performance Update
as of 04/30/2017		 Performance Excluding
Surrender Charges
Subaccount Portfolio
Inception
Date		 Total
Expenses		 Unit Value
(UV)
as of
05/19/2017		 Daily
Change
in UV		 YTD 1 Year 3 Year 5 Year 10 Year Since
Portfolio
Inception		 Since
Subaccount
Inception
SHORT-TERM FIXED INCOME
FIDELITY GOV MONEY MARKET 04/01/1982 0.25% 9.857702 - 0.000223 -0.34 -1.12 -1.29 -1.32 -0.63 2.81 -1.16
BALANCED/ASSET ALLOCATION
DIV BALNCD MNGD VOLATILTY 10/31/2013 0.64% 11.393439 0.048049 3.32 6.24 3.57 n/a n/a 3.92 3.92
DIV GROWTH MNGD VOLATILTY 10/31/2013 0.65% 11.684389 0.057784 4.12 8.54 4.35 n/a n/a 4.80 4.80
DIVERSIFIED BALANCED 12/30/2009 0.550% 15.403441 0.049392 3.57 6.87 3.89 5.44 n/a 6.01 6.01
DIVERSIFIED GROWTH 12/30/2009 0.55% 16.780832 0.089368 4.46 9.37 4.78 6.95 n/a 7.25 7.25
DIVERSIFIED INCOME 05/15/2012 0.55% 12.498271 0.028862 2.75 4.45 3.01 n/a n/a 4.46 4.46

*Denotes performance for partial period – since Inception Date noted. If Inception Date is less than one year from the date of these returns, the performance is a cumulative return, not an annual return.

Not all investment advisors or variable subaccounts listed are available in every state.

Portfolio Inception Date and Since Portfolio Inception columns refer to the date the underlying funds into which the subaccounts invest were established. Subaccount Inception Date and Since Subaccount Inception Date columns refer to the date that each subaccount was included in the separate account.

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Performance including surrender charges for each subaccount is based on the Subaccount Inception Date. Performance excluding surrender charges is based on the Portfolio Inception Date. The time frame for each may vary.

The "Daily Change in UV" column reflects the difference in unit values between the date listed in the prior column and the business day preceding that date.

Performance data prior to the inception date of the separate account represent adjusted hypothetical performance.

©2017 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.

Principal Variable Contracts Fund Diversified Balanced Account, Principal Variable Contracts Fund Diversified Growth Account and Principal Variable Contracts Fund Diversified Income Account do not guarantee a profit or protect against loss. Investing in real estate, small-cap, international, and high-yield investment options involves additional risks.

While the underlying securities of the Fidelity VIP Money Market Subaccount may be guaranteed by the U.S. Government as to timely payment of principal and interest, investment values are not guaranteed.

The Principal Variable Contracts Fund Diversified Balanced Account indirectly bears its pro rata share of the management fees incurred by the underlying funds in which this fund invests. Based on the asset allocation of the funds outlined in the prospectus dated May 1, 2017, the weighted average operating expense of the underlying funds is: 0.25%.

The Principal Variable Contracts Fund Diversified Growth Account indirectly bears its pro rata share of the management fees incurred by the underlying funds in which this fund invests. Based on the asset allocation of the funds outlined in the prospectus dated May 1, 2017, the weighted average operating expense of the underlying funds is: 0.25%.

The Principal Variable Contracts Diversified Income Account indirectly bears its pro rata share of the management fees incurred by the underlying funds in which this fund invests. Based on the asset allocation of the funds outlined in the prospectus dated May 1, 2017, the weighted average operating expense of the underlying funds is: 0.25%.

The Principal VCF Diversified Balanced Managed Volatility Account indirectly bears its pro rata share of the management fees incurred by the underlying funds in which this fund invests. Based on the asset allocation of the funds outlined in the May 1, 2017 prospectus, the weighted average operating expense of the underlying funds is: 0.33%.

The Principal VCF Diversified Growth Managed Volatility Account indirectly bears its pro rata share of the management fees incurred by the underlying funds in which this fund invests. Based on the asset allocation of the funds outlined in the May 1, 2017 prospectus, the weighted average operating expense of the underlying funds is: 0.35%.

The Principal VCF Diversified Balanced and Diversified Growth Accounts are closed to new investors with an application signature date of 12/01/2013 and later.

The Principal PVC Money Market Subaccount is closed to new investors with an application signature date of 2/6/2016 and later.

Variable annuities are not FDIC insured. They may lose value and there is no bank guarantee.

The Principal Lifetime Income SolutionsSM is issued by Principal Life Insurance Company and distributed by Principal Securities, Inc, member SIPC. Principal Life and Principal Securities are members of the Principal Financial Group®, Des Moines, Iowa, 50392-0200, 800/852-4450.

Policy Form # SF 749
Approval #t16012703hk

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