<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/ncen">
  <schemaVersion>X0303</schemaVersion>
  <headerData>
    <submissionType>N-CEN</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0000009713</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      <flags>
        <returnCopyFlag>false</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-4</investmentCompanyType>
    </filerInfo>
    <seriesClass>
      <reportClass>
        <rptIncludeAllClassesFlag>true</rptIncludeAllClassesFlag>
      </reportClass>
    </seriesClass>
  </headerData>
  <formData>
    <generalInfo isReportPeriodLt12="N" reportEndingPeriod="2020-12-31"/>
    <registrantInfo>
      <registrantFullName>PRINCIPAL LIFE INSURANCE CO SEPARATE ACCOUNT B</registrantFullName>
      <investmentCompFileNo>811-02091</investmentCompFileNo>
      <registrantCik>0000009713</registrantCik>
      <registrantLei>549300M4TPC8ODL2O635</registrantLei>
      <registrantstreet1>711 High St</registrantstreet1>
      <registrantcity>Des Moines</registrantcity>
      <registrantzipCode>50392</registrantzipCode>
      <registrantstate>US-IA</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>515-362-2384</registrantphoneNumber>
      <websites>
        <website webpage="www.principal.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>Principal Financial Group</officeName>
          <officeAddress1>711 High St</officeAddress1>
          <officeCity>Des Moines</officeCity>
          <officeStateCountry officeState="US-IA" officeCountry="US"/>
          <officeRecordsZipCode>50392</officeRecordsZipCode>
          <officePhone>515-247-5111</officePhone>
          <booksRecordsDesc>Governance, compliance, accounting, administrative and investment oversight records</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <isRegistrantFamilyInvComp>N</isRegistrantFamilyInvComp>
      <registrantClassificationType>N-4</registrantClassificationType>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Kelly Stokes</ccoName>
          <crdNumber>002589504</crdNumber>
          <ccoStreet1>711 High St</ccoStreet1>
          <ccoCity>Des Moines</ccoCity>
          <ccoStateCountry ccoCountry="US" ccoState="US-IA"/>
          <ccoZipCode>50392</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerId="N/A" ccoEmployerName="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <isExemptionFromAct>N</isExemptionFromAct>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>Principal Securities, Inc.</principalUnderwriterName>
          <principalUnderwriterFileNumber>008-13975</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>N/A</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>N/A</principalUnderwriterLei>
          <principalUnderWriterStateCountry principalUnderWriterCountry="US" principalUnderWriterState="US-IA"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>Y</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
      </principalUnderwriters>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>Ernst &amp; Young LLP</publicAccountantName>
          <pcaobNumber>42</pcaobNumber>
          <publicAccountantLei>N/A</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantState="US-MN" publicAccountantCountry="US"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
    </registrantInfo>
    <unitInvestmentTrust>
      <depositors>
        <depositor>
          <depositorName>Principal Life Insurance Company</depositorName>
          <depositorCrdNo>N/A</depositorCrdNo>
          <depositorLei>SDCMU2LVKGV2AF1KWP64</depositorLei>
          <depositorStateCountry depositorState="US-IA" depositorCountry="US"/>
          <depositorUltimateParentname>Principal Financial Group, Inc.</depositorUltimateParentname>
        </depositor>
      </depositors>
      <isUitAdminHiredTerminated>N</isUitAdminHiredTerminated>
      <registrantSeparateInsuranceAccount separateAccountSeriesId="S000001542" isRegistrantSeparateInsuranceAccount="Y"/>
      <numOfContracts>68450</numOfContracts>
      <contractSecurities>
        <contractSecurity grossPremiumReceived="111942.69" separateAccountTotalAsset="50090422.29" contractValueRedeemedSection1035="0" separateAccountSecurityName="Principal Freedom Variable Annuity" contractValueRedeemed="4394707.52" numContractsAffectedRedeemed="0" separateAccountContractId="C000004191" numContractsAffected="0" grossPremiumReceivedSection1035="0" numContractsSold="0"/>
        <contractSecurity grossPremiumReceived="41000" separateAccountTotalAsset="21112928.77" contractValueRedeemedSection1035="153804.32" separateAccountSecurityName="Principal Freedom 2 Variable Annuity" contractValueRedeemed="1309723.44" numContractsAffectedRedeemed="3" separateAccountContractId="C000004196" numContractsAffected="0" grossPremiumReceivedSection1035="0" numContractsSold="0"/>
        <contractSecurity grossPremiumReceived="43077503.49" separateAccountTotalAsset="7396470230.00" contractValueRedeemedSection1035="39793129.98" separateAccountSecurityName="Principal Investment Plus Variable Annuity" contractValueRedeemed="664838502.91" numContractsAffectedRedeemed="189" separateAccountContractId="C000004193" numContractsAffected="10" grossPremiumReceivedSection1035="1492524.15" numContractsSold="0"/>
        <contractSecurity grossPremiumReceived="43077503.49" separateAccountTotalAsset="7396470230" contractValueRedeemedSection1035="39793129.98" separateAccountSecurityName="Principal Investment Plus Variable Annuity (Applications Signed On or After 08/01/2013)" contractValueRedeemed="664838502.91" numContractsAffectedRedeemed="189" separateAccountContractId="C000129044" numContractsAffected="10" grossPremiumReceivedSection1035="1492524.15" numContractsSold="0"/>
        <contractSecurity grossPremiumReceived="9608910.24" separateAccountTotalAsset="1309972882" contractValueRedeemedSection1035="5385407.41" separateAccountSecurityName="Principal Variable Annuity (Flexible Variable Annuity)" contractValueRedeemed="122544016.09" numContractsAffectedRedeemed="35" separateAccountContractId="C000004194" numContractsAffected="4" grossPremiumReceivedSection1035="282853.19" numContractsSold="0"/>
        <contractSecurity grossPremiumReceived="9608910.24" separateAccountTotalAsset="1309972882" contractValueRedeemedSection1035="5385407.41" separateAccountSecurityName="Principal Variable Annuity (Flexible Variable Annuity with Purchase Payment Credit)" contractValueRedeemed="122544016.09" numContractsAffectedRedeemed="35" separateAccountContractId="C000004195" numContractsAffected="4" grossPremiumReceivedSection1035="282853.19" numContractsSold="0"/>
        <contractSecurity grossPremiumReceived="34616.76" separateAccountTotalAsset="117864306.10" contractValueRedeemedSection1035="1660009.44" separateAccountSecurityName="Principal Lifetime Income Solutions" contractValueRedeemed="17394983.03" numContractsAffectedRedeemed="8" separateAccountContractId="C000098606" numContractsAffected="0" grossPremiumReceivedSection1035="0" numContractsSold="0"/>
        <contractSecurity grossPremiumReceived="105093326.62" separateAccountTotalAsset="396896943.24" contractValueRedeemedSection1035="1039827.41" separateAccountSecurityName="Principal Pivot Series Variable Annuity" contractValueRedeemed="14881371.05" numContractsAffectedRedeemed="9" separateAccountContractId="C000145948" numContractsAffected="280" grossPremiumReceivedSection1035="39427177.70" numContractsSold="707"/>
        <contractSecurity grossPremiumReceived="256171988.21" separateAccountTotalAsset="1390592606" contractValueRedeemedSection1035="12374.71" separateAccountSecurityName="Principal Lifetime Income Solutions II Variable Annuity" contractValueRedeemed="23447001.22" numContractsAffectedRedeemed="1" separateAccountContractId="C000175900" numContractsAffected="64" grossPremiumReceivedSection1035="8562003.76" numContractsSold="1287"/>
        <contractSecurity grossPremiumReceived="511554.39" separateAccountTotalAsset="4077997.71" contractValueRedeemedSection1035="0" separateAccountSecurityName="Personal Variable Annuity Contract" contractValueRedeemed="1428322.56" numContractsAffectedRedeemed="0" separateAccountContractId="C000004192" numContractsAffected="0" grossPremiumReceivedSection1035="0" numContractsSold="0"/>
        <contractSecurity grossPremiumReceived="9192064.70" separateAccountTotalAsset="38285676.77" contractValueRedeemedSection1035="0" separateAccountSecurityName="Premier Variable Annuity Contract" contractValueRedeemed="13150484.47" numContractsAffectedRedeemed="0" separateAccountContractId="C000004190" numContractsAffected="0" grossPremiumReceivedSection1035="0" numContractsSold="0"/>
        <contractSecurity grossPremiumReceived="2086.79" separateAccountTotalAsset="6615582.61" contractValueRedeemedSection1035="0" separateAccountSecurityName="Principal Life Ins Co Sep Acct B - Pension Builder Plus " contractValueRedeemed="259576.88" numContractsAffectedRedeemed="0" separateAccountContractId="C000004189" numContractsAffected="0" grossPremiumReceivedSection1035="0" numContractsSold="0"/>
      </contractSecurities>
      <isRule6C7Reliance>N</isRule6C7Reliance>
      <isRule11A2Reliance>N</isRule11A2Reliance>
    </unitInvestmentTrust>
    <attachmentsTab>
      <isLegalProceedings>false</isLegalProceedings>
      <isProvisionFinancialSupport>false</isProvisionFinancialSupport>
      <isIPAReportInternalControl>false</isIPAReportInternalControl>
      <isChangeAccPrinciples>false</isChangeAccPrinciples>
      <isInfoRequiredEO>false</isInfoRequiredEO>
      <isOtherInfoRequired>false</isOtherInfoRequired>
    </attachmentsTab>
    <signature registrantSignedName="PRINCIPAL LIFE INSURANCE CO SEPARATE ACCOUNT B" signature="Clint Woods" signedDate="2021-03-15" title="Vice President, Associate General Counsel, Governance Officer and Assistant Corporate Secretary"/>
  </formData>
</edgarSubmission>
