Prudential Premier Retirement Variable Annuities

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LIVING BENEFITS Pruco Life offers different optional living benefits, for an additional charge, that can provide investment protection for Owners while they are alive. No optional living benefit may be elected if your Annuity is held as a Beneficiary Annuity. Notwithstanding the additional protection provided under the optional living benefits, the additional cost has the impact of reducing net performance of the Investment Options. Each optional benefit offers a distinct type of guarantee, regardless of the performance of the Sub-accounts, that may be appropriate for you depending on the manner in which you intend to make use of your Annuity while you are alive. We reserve the right to cease offering any of these optional living benefits. Depending on which optional living benefit you choose, you can have substantial flexibility to invest in the Sub-accounts while: ▪ protecting a principal amount from decreases in value due to investment performance; ▪ guaranteeing a minimum amount of growth to be used as the basis for lifetime withdrawals; or ▪ providing spousal continuation of certain benefits. We currently offer the following “living benefits”: ▪ Highest Daily Lifetime Income 2.0 ▪ Highest Daily Lifetime Income 2.0 with Lifetime Income Accelerator ▪ Spousal Highest Daily Lifetime Income 2.0 ▪ Highest Daily Lifetime Income 2.0 With Highest Daily Death Benefit ▪ Spousal Highest Daily Lifetime Income 2.0 with Highest Daily Death Benefit We previously offered the following optional living benefits during the periods indicated. Offered from January 24, 2011 to August 19, 2012: ▪ Highest Daily Lifetime Income ▪ Highest Daily Lifetime Income with Lifetime Income Accelerator ▪ Spousal Highest Daily Lifetime Income The following “living benefits” are available only for <strong>Annuities</strong> issued with an application signed prior to January 24, 2011, subject to availability which may vary by firm: ▪ Highest Daily Guaranteed Return Option II (HD GRO II) ▪ Guaranteed Return Option Plus II (GRO PLUS II) Offered from March 15, 2010 to January 23, 2011: ▪ Highest Daily Lifetime 6 Plus Income ▪ Highest Daily Lifetime 6 Plus Income with Lifetime Income Accelerator ▪ Spousal Highest Daily Lifetime 6 Plus Income Please see Appendix D for information pertaining to the Highest Daily Lifetime Income suite of benefits, and Appendix C for information pertaining to the Highest Daily Lifetime 6 Plus suite of benefits. Each living benefit requires your participation in a predetermined mathematical formula that may transfer your account value between the Sub-accounts you have chosen from among those we permit with the benefit (i.e., the “permitted Sub-accounts”) and certain bond portfolio Sub-accounts of AST. Highest Daily Lifetime Income 2.0, Highest Daily Lifetime Income 2.0 with LIA, Spousal Highest Daily Lifetime Income 2.0, Highest Daily Lifetime Income 2.0 with Highest Daily Death Benefit, Spousal Highest Daily Lifetime Income 2.0 with Highest Daily Death Benefit, Highest Daily Lifetime Income, Highest Daily Lifetime Income with LIA, Spousal Highest Daily Lifetime Income, Highest Daily Lifetime 6 Plus, Highest Daily Lifetime 6 Plus with LIA, and Spousal Highest Daily Lifetime 6 Plus use one predetermined mathematical formula. GRO Plus II and HD GRO II each uses a separate and different predetermined mathematical formula. Under the predetermined mathematical formula used with the Highest Daily Lifetime Income 2.0, Highest Daily Lifetime Income and Highest Daily Lifetime 6 Plus Income benefits, your Account Value may be transferred between certain “permitted Sub-accounts” and the AST Investment Grade Bond Sub-account. Under each predetermined mathematical formula used with GRO Plus II and HD GRO II, your Account Value may be transferred between certain “permitted Sub-accounts” and a Sub-account within a group of bond portfolio Sub-accounts differing with respect to their target maturity date. The formulas differ because of the nature of the underlying guarantees, and thus could result in different transfers of account value over time. Although not guaranteed, the optional living benefit investment requirements and the applicable formula are designed to reduce the difference between your Account Value and our liability under the benefit. Minimizing such difference generally benefits us by decreasing the risk that we will use our own assets to make benefit payments to you. Though the investment requirements and formulas are designed to reduce risk, they do not guarantee any appreciation of your Account Value. In fact, they could mean that you miss appreciation opportunities in other investment options. We are not providing you with investment advice through the use of any of the formulas. In addition, the formulas do not constitute an investment strategy that we are recommending to you. Here is a general description of each kind of living benefit that exists under this Annuity: Lifetime Guaranteed Minimum Withdrawal Benefits. These benefits are designed for someone who wants a guaranteed lifetime income stream through withdrawals over time, rather than by annuitizing. Highest Daily Lifetime Income 2.0 is one example of this type of benefit. Please note that there is a Latest Annuity Date under your Annuity, by which date annuity payments must commence. 52
Under any of the Guaranteed Lifetime Withdrawal Benefits (e.g., Highest Daily Lifetime Income 2.0, Highest Daily Lifetime Income 2.0 with Lifetime Income Accelerator, Spousal Highest Daily Lifetime Income 2.0, Highest Daily Lifetime Income 2.0, Highest Daily Death Benefit, and Spousal Highest Daily Lifetime Income 2.0 with Highest Daily Death Benefit, withdrawals in excess of the Annual Income Amount, called “Excess Income,” will result in a permanent reduction in future guaranteed amounts. Guaranteed Minimum Accumulation Benefits. The common characteristic of these benefits is that your Account Value is guaranteed to be at least a specified amount at some point in the future. Thus, these benefits may be appropriate for an annuity Owner who wants a guaranteed minimum Account Value after a specified number of years. Because the guarantee inherent in the benefit does not take effect until a specified number of years into the future, you should elect such a benefit only if your investment time horizon is of at least that duration. HD GRO II is one example of this type of benefit. Please refer to the benefit description that follows for a complete description of the terms, conditions and limitations of each optional benefit. See the chart in the “Investment Options” section of the prospectus for a list of Investment Options available and permitted with each benefit. We reserve the right to terminate a benefit if you allocate funds into nonpermitted Investment Options. You should consult with your Financial Professional to determine if any of these optional benefits may be appropriate for you based on your financial needs. As is the case with optional living benefits in general, the fulfillment of our guarantee under these benefits is dependent on our claims-paying ability. Termination of Existing Benefits and Election of New Benefits If you elect an optional living benefit, you may subsequently terminate the benefit and elect one of the then currently available benefits, subject to availability of the benefit at that time and our then current rules. There is currently no waiting period for such an election (you may elect a new benefit beginning on the next Valuation Day), provided that upon such an election, your Account Value must be allocated to the Investment Options permitted for the optional benefit. We reserve the right to waive, change and/or further limit availability and election frequencies in the future. Check with your Financial Professional regarding the availability of re-electing or electing a benefit and any waiting period. The benefit you re-elect or elect may not provide the same guarantees and/ or may be more expensive than the benefit you are terminating. Note that once you terminate an existing benefit, you lose the guarantees that you had accumulated under your existing benefit and will begin the new guarantees under the new benefit you elect based on your Unadjusted Account Value as of the date the new benefit becomes effective. You should carefully consider whether terminating your existing benefit and electing a new benefit is appropriate for you. No Long-Term MVA Option is permitted if you elect any Optional Living Benefit. The DCA MVA Options are not available with GRO Plus II and HD GRO II. For <strong>Annuities</strong> purchased in Illinois, if you are currently invested in any Market Value Adjustment Options and/or are enrolled in the 6 or 12 Month DCA Program but wish to elect one of the Highest Daily Lifetime Income 2.0 suite of benefits, at the time you elect such Highest Daily Lifetime Income 2.0 benefit, you will have to cancel your enrollment in the 6 or 12 Month DCA Program and reallocate your Account Value to the Investment Options permitted for such Highest Daily Lifetime Income 2.0 benefit (see “Investment Options — Group I Allowable Benefit Allocations”). Certain spousal rights under the contract, and our administration of such spousal rights and related tax reporting comport with our understanding of the Defense of Marriage Act (which defines a “marriage” as a legal union between a man and a woman and a “spouse” as a person of the opposite sex). Depending on the state in which your annuity is issued, we may offer certain spousal benefits to civil union couples, domestic partners or same-sex marriages. You should be aware, however, that federal tax law does not recognize civil union couples, domestic partners or marriage spouses of the same sex. Therefore, we cannot permit a same-sex civil union partner, domestic partner or spouse to continue the annuity within the meaning of the tax law upon the death of the first partner under the annuity’s “spousal continuance” provision. Please note there may be federal tax consequences at the death of the first same-sex civil union partner, domestic partner or spouse. Civil union couples, domestic partners and spouses of the same sex should consider that limitation before selecting a spousal benefit under the annuity. HIGHEST DAILY LIFETIME INCOME BENEFIT 2.0 Highest Daily Lifetime Income 2.0 is a lifetime guaranteed minimum withdrawal benefit, under which, subject to the terms of the benefit, we guarantee your ability to take a certain annual withdrawal amount for life. We reserve the right, in our sole discretion, to cease offering this benefit for new elections, at any time. We offer a benefit that guarantees until the death of the single designated life (the Annuitant) the ability to withdraw an annual amount (the “Annual Income Amount”) equal to a percentage of an initial value (the “Protected Withdrawal Value”) regardless of the impact of Sub-account performance on the Unadjusted Account Value, subject to our rules regarding the timing and amount of withdrawals. You are guaranteed to be able to withdraw the Annual Income Amount for the rest of your life provided that you do not take withdrawals of Excess Income that result in your Unadjusted Account Value being reduced to zero. We also permit you to designate the first withdrawal from your Annuity as a one-time “Non-Lifetime Withdrawal”. All other partial withdrawals from your Annuity are considered a “Lifetime Withdrawal” under the benefit. Withdrawals are taken first from your own Account Value. We are only required to begin making lifetime income payments to you under our guarantee when and if your Unadjusted Account Value is reduced to zero (for any reason other than due to partial withdrawals of Excess Income). Highest Daily Lifetime 53
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PRUCO LIFE INSURANCE COMPANY PRUCO
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UNDERLYING PORTFOLIO UNDERLYING MUT
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UNDERLYING PORTFOLIO UNDERLYING MUT
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ii. To the list of available variab
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II. NEW OPTIONAL BENEFITS This supp
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that may periodically transfer your
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Anniversary, we identify the Unadju
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Non-Lifetime Withdrawal Feature You
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▪ If annuity payments are to begi
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(iv) our receipt of Due Proof of De
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Example (assume the income basis is
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taken first from your own Account V
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While Spousal Highest Daily Lifetim
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** In this example, the first daily
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▪ Any Lifetime Withdrawal that yo
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to the death claim and the payment
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ages 59 1 ⁄2 to 64; 4.5% for ages
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Example of proportional reductions
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In general, withdrawals made from t
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certain in order to comply with the
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Upon termination of Highest Daily L
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Key Feature - Annual Income Amount
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Example of dollar-for-dollar reduct
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Highest Daily Death Benefit A Death
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newly-elected benefit will commence
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How Spousal Highest Daily Lifetime
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The Prudential Insurance Company of
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COMBOSUP2 ADVANCED SERIES TRUST Sup
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Subadvisers Investment Categories a
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STYLE/ TYPE Asset Allocation COMBOS
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GENPROD2 PRUCO LIFE INSURANCE COMPA
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In the section titled “Investment
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Advanced Series Trust AST Academic
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DEATH BENEFITS ....................
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HD GRO II uses a predetermined math
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Any amounts invested in the AST bon
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DEATH BENEFITS TRIGGERS FOR PAYMENT
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Calculation of Highest Anniversary
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A surviving spouse’s ability to c
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VALUING YOUR INVESTMENT VALUING THE
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TAX CONSIDERATIONS The tax consider
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Taxes Payable by Beneficiaries The
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A Nonqualified annuity may also be
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In any event, you must begin receiv
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ERISA Requirements ERISA (the “Em
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out of any other business we may co
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Cost Averaging, auto rebalancing, a
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Infinex Investments, Inc. ING Finan
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County, Illinois, was served on Pru
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Sub-Accounts Accumulation Unit Valu
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PREMIER RETIREMENT L SERIES Pruco L
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Sub-Accounts PREMIER RETIREMENT C S
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Annuity Comparison X Series B Serie
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The shaded values indicate the high
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holidays), plus the amount of any P
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Examples of dollar-for-dollar and p
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Required Minimum Distributions Requ
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Unadjusted Account Value and Protec
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equire a transfer to the Bond Sub-a
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to as the “LIA Amount”) if you
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the latter scenario, we determine w
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The “Periodic Value” is initial
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Amount on a dollar-for-dollar basis
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Here is the calculation: Withdrawal
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Election of and Designations under
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holidays), plus the amount of any P
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Examples of dollar-for-dollar and p
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Required Minimum Distributions Requ
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▪ If you elect this benefit and i
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Generally, the formula, which is ap
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Additional Tax Considerations If yo
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LIA Amount after the first Lifetime
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section above entitled “How Highe
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Highest Daily Auto Step-Up An autom
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Non-Lifetime Withdrawal Feature You
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apply to current participants in th
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If the formula ratio is less than a
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We reserve the right to waive the l
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If the formula ratio is less than a
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▪ T - the amount of a transfer in
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You can have a traditional IRA whet
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2. Rollovers from an employer retir
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Distributions from traditional IRAs
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income, and dividend income), pensi
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c. Made to a Beneficiary or to your
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CONTINGENT DEFERRED SALES CHARGE 1
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The Prudential Insurance Company of
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Prudential Premier Retirement Variable Annuities

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