Annual Step-Up Death Benefit ( Principal Strategic Outcomes)

Available during accumulation phase. Upon death of owner or annuitant, the Annual Step-Up Death Benefit Rider includes a daily charge that may reduce the Accumulated Value and Crediting Base, potentially exceeding the fee impact. It offers an annual (once per year) step-up feature to the highest Accumulated Value prior to the Lock-In Date; however, increases are not guaranteed. The benefit, payable during the accumulation period, equals the greatest of: (1) Accumulated Value, (2) Premium Payments adjusted for withdrawals, or (3) Highest Accumulated Value (adjusted). Partial withdrawals, charges, and adverse market performance may reduce the benefit and limit step-up potential.