N-60000812797N-612/31/2023falsexbrli:pure00008127972024-05-012024-05-010000812797ck0000812797:C000028521Member2024-05-012024-05-010000812797ck0000812797:C000030367Member2024-05-012024-05-01

Principal Life Insurance Company Variable Life Separate Account

        

Supplement dated July 5, 2024

to the Prospectus and Updating Summary Prospectus dated May 1, 2024 for:

Principal Variable Universal Life Income IV

This supplement updates information contained in the Prospectus, and Updating Summary Prospectus referenced above. Please retain this supplement for future reference.

APPENDIX - UNDERLYING FUNDS AVAILABLE UNDER THE POLICY

Delete the rows for AllianceBernstein Small Cap Growth - Class A, and CVT S&P 500 Index in the table and replace with the following:

Fund Company and Fund Name and Class

Fund Type

Advisor/ Sub-Advisor

Current Expense Ratio

Average Annual Total Returns

1 yr

5 yr

10 yr

AllianceBernstein Small Cap Growth - Class A (not available to new investors after 2/1/2013)*

Small/Mid US Equity

AllianceBernstein

0.90%

18.02%

10.57%

8.53%

CVT S&P 500 Index (not available to new investors after 4/25/2014)*

Large US Equity

Calvert Research and Management/Ameritas Investment Partners, Inc.

0.28%

25.92%

15.39%

11.68%