Prudential Premier Retirement Variable Annuities

SURRENDERS
SURRENDER VALUE
During the Accumulation Period you can surrender your Annuity at any time, and will receive the Surrender Value. Upon
surrender of your Annuity, you will no longer have any rights under the surrendered Annuity. Your Surrender Value is equal to the
Account Value (which includes the effect of any MVA) less any applicable CDSC, any applicable tax charges, any charges
assessable as a deduction from the Account Value for any optional benefits provided by rider or endorsement, and any Annual
Maintenance Fee.
We apply as a threshold, in certain circumstances, a minimum Surrender Value of $2,000. If you purchase an Annuity without a
lifetime guaranteed minimum withdrawal benefit, we will not allow you to take any withdrawals that would cause your Annuity’s
Account Value, after taking the withdrawal, to fall below the minimum Surrender Value. Likewise, if you purchase an Annuity
with a lifetime guaranteed minimum withdrawal benefit, we will not allow you to take a Non-Lifetime Withdrawal (see “Living
Benefits – Non-Lifetime Withdrawal Feature”) that would cause your Annuity’s Account Value, after taking the withdrawal, to fall
below the minimum Surrender Value. See “Annuity Options” for information on the impact of the minimum Surrender Value at
annuitization.
MEDICALLY-RELATED SURRENDERS
Where permitted by law, you may request to surrender all or part of your X Series, B Series, or L Series Annuity prior to the
Annuity Date without application of any otherwise applicable CDSC upon occurrence of a medically-related “Contingency Event“
as described below. The CDSC and this waiver are not applicable to the C Series.
If you request a full surrender, the amount payable will be your Account Value minus the amount of any Purchase Credits applied
within 12 months prior to your request in Good Order to surrender your Annuity under this provision. With respect to partial
surrenders, we similarly reserve the right to recapture Purchase Credits. Any applicable MVA will apply to a medically-related
surrender. Although a CDSC will not apply to qualifying medically-related surrenders, please be aware that a withdrawal from the
Annuity before you have reached age 59 1 ⁄2 may be subject to a 10% tax penalty and other tax consequences – see the Tax
Considerations section of this prospectus.
This waiver of any applicable CDSC is subject to our rules in place at the time of your request, which currently include but are not
limited to the following:
▪ If the Owner is an entity, the Annuitant must have been named or any change of Annuitant must have been accepted by us,
prior to the “Contingency Event” described below in order to qualify for a medically-related surrender;
▪ If the Owner is an entity, the Annuitant must be alive as of the date we pay the proceeds of such surrender request;
▪ If the Owner is one or more natural persons, all such Owners must also be alive at such time;
▪ We must receive satisfactory proof of the Owner's (or the Annuitant's if entity-owned) confinement in a Medical Care
Facility or Fatal Illness in writing on a form satisfactory to us; and
▪ no additional Purchase Payments can be made to the Annuity.
We reserve the right to impose a maximum amount of a medically-related surrender (equal to $500,000), but we do not currently
impose that maximum. That is, if the amount of a partial medically-related withdrawal request, when added to the aggregate
amount of medically-related surrenders you have taken previously under this Annuity and any other annuities we and/or our
affiliates have issued to you exceeds that maximum amount, we reserve the right to treat the amount exceeding that maximum as
not an eligible medically-related surrender. A “Contingency Event” occurs if the Owner (or Annuitant if entity-owned) is:
▪ first confined in a “Medical Care Facility” after the Issue Date and while the Annuity is in force, remains confined for at
least 90 consecutive days, and remains confined on the date we receive the Medically Related surrender request at our
Service Office; or
▪ first diagnosed as having a “Fatal Illness” after the Issue Date and while the Annuity is in force. We may require a second
or third opinion by a physician chosen by us regarding a diagnosis of Fatal Illness. We will pay for any such second or
third opinion.
“Fatal Illness” means a condition (a) diagnosed by a licensed physician; and (b) that is expected to result in death within 24 months
after the diagnosis in 80% of the cases diagnosed with the condition. “Medical Care Facility” means a facility operated and
licensed pursuant to the laws of any United States jurisdiction providing medically-necessary in-patient care, which is
(a) prescribed by a licensed physician in writing; (b) recognized as a general hospital or long-term care facility by the proper
authority of the United States jurisdiction in which it is located; (c) recognized as a general hospital by the Joint Commission on
the Accreditation of Hospitals; and (d) certified as a hospital or long-term care facility; OR (e) a nursing home licensed by the
United States jurisdiction in which it is located and offers the services of a Registered Nurse (RN) or Licensed Practical Nurse
(LPN) 24 hours a day that maintains control of all prescribed medications dispensed and daily medical records. This benefit is not
currently available in California and Massachusetts.
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