EXHIBIT 23.1

            Consent of Independent Registered Public Accounting Firm

We consent to the reference to our firm under the caption "Experts" in the
Registration Statement (Form S-3) and related Prospectus of Principal Financial
Group, Inc. and Principal Life Insurance Company for the registration of
$5,000,000,000 Secured Medium-Term Notes and to the incorporation by reference
therein of our reports dated February 16, 2005 (except for the second paragraph
of Note 15, as to which the date is March 3, 2005), with respect to the
consolidated financial statements and schedules of Principal Financial Group,
Inc., Principal Financial Group, Inc. management's assessment of the
effectiveness of internal control over financial reporting, and the
effectiveness of internal control over financial reporting of Principal
Financial Group, Inc. included in its Annual Report (Form 10-K) for the year
ended December 31, 2004, filed with the Securities and Exchange Commission.


                                 /s/ Ernst & Young LLP

Des Moines, Iowa
February 13, 2006