497 1 a497psisupp051325.htm PSI 497 Document

Principal Life Insurance Company
Supplement dated May 13, 2025
to the Prospectus dated May 1, 2025 for
Principal® Strategic Income


This supplement updates information contained in the Prospectus for the annuity Contract referenced above. Please retain this supplement for future reference.

This supplement reflects updated Index-Linked Segment Options for the following states: Illinois; Louisiana; North Carolina; and Pennsylvania. The additional Index-Linked Segment Options will be available for Contracts issued in the impacted states for Initial Segment Terms for Contracts issued with Applications signed on or after May 16, 2025, and for new Segment Terms beginning on or after May 16, 2025.

APPENDIX C - STATE VARIATIONS

The following table replaces and supersedes APPENDIX C - STATE VARIATIONS effective May 16, 2025:

StateBenefitVariation
AlaskaIndex Linked Segment OptionsIndex-Linked Segment Options linked to the Nasdaq-100 Price Return Index® are not available. 20% Buffer on the Russell 2000® Price Return - Index is not available.
ArizonaFree LookFor a non-replacement, if the Owner is age 65 or older at the date of application, the right to cancel period is 30 days.
CaliforniaFree LookFor a non-replacement, if the Owner is age 60 or older at the date of application, the right to cancel period is 30 days.
If the Owner is age 60 or older at the date of application, the refunded amount will be the greater of the Accumulated Value plus Fees and Charges or the Premium Payment, whichever is higher.
Index Linked Segment OptionsIndex-Linked Segment Options linked to the Nasdaq-100 Price Return Index® are not available. 20% Buffer on the Russell 2000® Price Return - Index is not available.
ConnecticutFree LookFor a replacement of an existing contract, your right to cancel period is 15 days.
District of ColumbiaFree LookFor a replacement of an existing contract, your right to cancel period is 15 days.


Index Linked Segment OptionsIndex-Linked Segment Options linked to the Nasdaq-100 Price Return Index® are not available. 20% Buffer on the Russell 2000® Price Return - Index is not available.
DelawareFree LookFor a replacement of an existing contract, your right to cancel period is 20 days.
Index Linked Segment OptionsIndex-Linked Segment Options linked to the Nasdaq-100 Price Return Index® are not available. 20% Buffer on the Russell 2000® Price Return - Index is not available.
FloridaFree LookYour right to cancel period is 21 days.
GeorgiaFree LookFor a replacement of an existing contract, your right to cancel period is 15 days.
IdahoFree LookYour right to cancel period is 20 days.
SurrenderSurrender payments will be delayed no longer than six months from the date we receive your notice to
IllinoisFree LookFor a replacement of an existing contract, your right to cancel period is 20 days.
IndianaFree LookFor a replacement of an existing contract, your right to cancel period is 20 days.
KansasFree LookFor a replacement of an existing contract, your right to cancel period is 20 days.
KentuckyFree LookFor a non-replacement, your right to cancel period is 20 days.
MarylandIndex Linked Segment OptionsIndex-Linked Segment Options linked to the Nasdaq-100 Price Return Index® are not available. 20% Buffer on the Russell 2000® Price Return - Index is not available.
MassachusettsFree LookYour right to cancel period is 20 days.
MichiganFree LookFor a replacement of an existing contract, your right to cancel period is 15 days.
MinnesotaFree LookNotice of cancellation and return of the contract are effective on the date received by us or our agent.
Will refund Premium Payment or Accumulated Value within 10 days of receiving cancellation notice.


Death BenefitWe will pay death benefit within two months.
Index Linked Segment OptionsIndex-Linked Segment Options linked to the Nasdaq-100 Price Return Index® are not available. 20% Buffer on the Russell 2000® Price Return - Index is not available.
MontanaIndex Linked Segment OptionsIndex-Linked Segment Options linked to the Nasdaq-100 Price Return Index® are not available. 20% Buffer on the Russell 2000® Price Return - Index is not available.
New JerseyIndex-Linked Segment OptionsIndex-Linked Segment Options linked to the SG Smart Climate Index are not available.
Index Linked Segment OptionsIndex-Linked Segment Options linked to the Nasdaq-100 Price Return Index® are not available. 20% Buffer on the Russell 2000® Price Return - Index is not available.
North DakotaFree LookYour right to cancel period is 20 days.
OklahomaFree LookFor a replacement of an existing contract, your right to cancel period is 20 days.
PennsylvaniaFree LookFor a replacement of an existing contract that was not issued to you by
Principal Life Insurance Company, your right to cancel period is 20 days
For a replacement of an existing contract that was issued to you by Principal Life Insurance Company, your right to cancel period is 45 days.
Rhode IslandFree LookFor a non-replacement, your right to cancel period is 20 days.
Index Linked Segment OptionsIndex-Linked Segment Options linked to the Nasdaq-100 Price Return Index® are not available. 20% Buffer on the Russell 2000® Price Return - Index is not available.
TennesseeFree LookFor a replacement of an existing contract, your right to cancel period is 20 days.
TexasFree LookFor a non-replacement, your right to cancel period is 20 days.


Separate AccountThe description of the Separate Account is modified for contracts issued in Texas. The Separate Account is a segregated account, established by Principal, in which we hold reserves for the Index-Linked Segment Option under the contract. The portion of the assets of the Separate Account equal to the reserves and other liabilities arising out of any other business we may conduct.
VirginiaFree LookFor a replacement of an existing contract, your right to cancel period is 15 days.
VermontIndex Linked Segment OptionsIndex-Linked Segment Options linked to the Nasdaq-100 Price Return Index® are not available. 20% Buffer on the Russell 2000® Price Return - Index is not available.
WashingtonFree LookFor a replacement of an existing contract, your right to cancel period is 20 days. An additional 10% penalty shall be added to any refund due which is not paid within 30 days of return of the policy.