August 6, 2002

RE:      PRINCIPAL LIFE'S BENEFIT VARIABLE UNIVERSAL LIFE
         INSURANCE POLICY

Dear Sir or Madam:

In my capacity as Senior Actuary of Principal Life Insurance Company ("Principal
Life"), I have provided actuarial advice concerning and participated in the
design of Principal Life's Benefit Variable Universal Life Insurance Policy (the
"Policy"). I also provided actuarial advice concerning the preparation of a
registration statement on form S-6 for filing with the Securities and Exchange
Commission under the Securities Act of 1933 in connection with the Policy. In my
opinion:

a)   the federal tax charge of 1.25% of premium for deferred  acquisition  costs
     is  reasonable in relation to Principal  Life's  increased tax burden under
     Section 848 of the Internal  Revenue Code of 1986 as amended.  In addition,
     it is my  professional  opinion  that  the  15%  rate  of  return  and  the
     assumptions  on  which  that  rate  is  based  is  reasonable  for  use  in
     calculating such charges.

b)   the illustrations of death benefits,  account values,  surrender values and
     accumulated  premiums in the prospectus are based on the assumptions stated
     in the  illustrations,  consistent with the provisions of the Policy.  Such
     assumptions,  including the assumed  current charge levels are  reasonable.
     The Policy has not been  designed  so as to make the  relationship  between
     premium  and  benefits,  as  shown  in  the  illustrations,  appear  to  be
     correspondingly more favorable to a prospective  purchaser of the Policy at
     the ages,  genders  and  underwriting  classes  shown  than to  prospective
     purchasers at other ages,  genders and underwriting  classes.  Nor were the
     particular   illustrations   selected   for  the  purpose  of  making  this
     relationship appear more favorable.

I hereby consent to the use of this opinion as an exhibit to the registration
statement and to the reference to my name under the heading "Experts" in the
prospectus.

Respectfully,

/s/ Thomas A. Phillips

Thomas A. Phillips
Senior Actuary
Phone:  (515) 362-0496