POLICY SPLIT OPTION RIDER

This  rider  is  part of Your  policy.  It is  issued  in  consideration  of the
application and payment of its premiums. All policy definitions, provisions, and
exceptions  apply to this rider unless changed by this rider. The Effective Date
is the same as the Policy Date unless another date is shown on the Data Pages.

SPLIT OPTION

You have the  option to split  Your  policy  and  exchange  it for 2  individual
policies,  one on the life of each  Insured,  upon the  occurrence of one of the
exchange events listed below:

1.   A final  court  decree  has been  issued  dissolving  the  marriage  of the
     Insureds; or

2.   A change occurs in the federal estate tax law which results in a:

     a.  repeal of the unlimited marital deduction provision; or

     b. reduction of at least 50% in the maximum federal estate tax bracket.

No evidence of insurability  will be required on either life insured to exercise
this option.

LIMITATIONS AND CONDITIONS

This split option is available, provided:

1.   Both Insureds under Your policy are living on the date of the policy split;

2.   Your policy is in force and not in a grace period;

3.   We receive  Your Written  Request at Our home office  within 180 days after
     the effective date of an exchange event;

4.   You supply  evidence  satisfactory  to Us of the exchange  event if it is a
     dissolution of marriage;

5.   Your repay any policy loan and unpaid loan interest; and

6.   You surrender Your policy to Us.

NEW POLICIES

1.   Your policy will be split and exchanged  for 2 individual  policies (one on
     the life of each  Insured) of any single life cash value  policy  available
     from Us at the time of the policy split.

2.   The new policies will be issued with a current Policy Date.

3.   The  premiums  for  the new  policies  will be  based  on the age and  risk
     classification of each Insured at the time of the policy split.


                            (Continued on next page)
                                 Principal (r)      Principal Life
                                    Financial       Insurance Company
                                    Group           Des Moines, Iowa 50392-0001


Chairman and Chief Executive Officer


4.   The face amounts of the new policies  must be at least  $50,000 and must be
     in  equal  amounts  equal to  one-half  of the face  amount  of the  policy
     eligible for this split.

5.   Any assignment of the policy will apply to each new policy.

6.   Any  riders  which are a part of the  policy  will  terminate  upon the new
     policies'  Effective  Dates.  Riders may be made a part of the new policies
     only with Our consent and with evidence of insurability.

EXCHANGE ADJUSTMENTS

1.   The Surrender Value of the policy will be considered the  transferred  cash
     value.  One-half of the Surrender  Value of the policy will be allocated to
     each new policy.

2.   We may charge a one-time administrative expense fee up to the maximum shown
     on the current Data Pages.

REINSTATEMENT

If this rider terminates, it may not be reinstated.

TERMINATION

This rider terminates on:

1.    The death of either of the Insureds;

2.    Termination of Your policy;

3.   Your election to split Your policy under this rider;

4.   The expiration date of this rider shown on the current Data Pages; or

5.   Our receipt of Your written request to cancel this rider.  The cancellation
     will be  effective  on the Monthly  Date on or next  following  the date We
     receive  the  request.  We may  require you to send Your policy to the home
     office to record the cancellation.


SF 527