497 1 va-fvasupp082323.htm VA-FVA SUPP 082323 Document

Principal Life Insurance Company
Principal Life Insurance Company Separate Account B
Supplement dated August 23, 2023
to the Prospectuses and Updating Summary Prospectuses dated May 1, 2023 for:
Principal® Variable Annuity (Flexible Variable Annuity)
Principal® Variable Annuity (Flexible Variable Annuity with Purchase Payment Credit)

This supplement updates information contained in the Prospectus and Updating Summary Prospectus for each of the variable annuity contracts referenced above. Please retain this supplement for future reference.
APPENDIX A — INVESTMENT OPTIONS AVAILABLE UNDER THE CONTRACT
Delete the rows for American Century VP Ultra Fund – Class I and American Century VP Value Fund – Class II in the table and replace with the following:
Type
Portfolio

Advisor/Sub-advisor
Current Expenses (Net)
Average Annual Total Returns

(as of 12/31/22)
1 year5 year10 year
Large Growth
American Century VP Ultra Fund – Class I

American Century Investment Management, Inc.
0.75% (2)
-32.38%11.10%14.12%
Large Value
American Century VP Value Fund (1) – Class II

American Century Investment Management, Inc.
0.86% (2)
0.31%7.68%10.41%

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