Prudential Premier Retirement Variable Annuities

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The “Periodic Value” is initially equal to the Unadjusted Account Value on the effective date of the benefit. On each Valuation Day thereafter until the first Lifetime Withdrawal, we recalculate the Periodic Value. We stop determining the Periodic Value upon your first Lifetime Withdrawal after the effective date of the benefit. The Periodic Value is proportionally reduced for any Non-Lifetime Withdrawal. On each Valuation Day (the “Current Valuation Day”), the Periodic Value is equal to the greater of: (1) the Periodic Value for the immediately preceding business day (the “Prior Valuation Day”) appreciated at the daily equivalent of 6% annually during the calendar day(s) between the Prior Valuation Day and the Current Valuation Day (i.e., one day for successive Valuation Days, but more than one calendar day for Valuation Days that are separated by weekends and/or holidays), plus the amount of any Purchase Payment (including any associated Purchase Credits) made on the Current Valuation Day; and (2) the Unadjusted Account Value on the current Valuation Day. If you have not made a Lifetime Withdrawal on or before the 10th or 20 th Anniversary of the effective date of the benefit, your Periodic Value on the 10th or 20th Anniversary of the benefit effective date is equal to the greater of: (1) the Periodic Value described above or, (2) the sum of (a), (b) and (c) proportionally reduced for any Non-Lifetime Withdrawal: (a) 200% (on the 10th anniversary) or 400% (on the 20th anniversary) of the Unadjusted Account Value on the effective date of the benefit including any Purchase Payments (including any associated Purchase Credits) made on that day; (b) 200% (on the 10th anniversary) or 400% (on the 20th anniversary) of all Purchase Payments (including any associated Purchase Credits) made within one year following the effective date of the benefit; and (c) all Purchase Payments (including any associated Purchase Credits) made after one year following the effective date of the benefit. In the rider for this benefit, as respects the preceding paragraph, we use the term “Guaranteed Base Value” to refer to the Unadjusted Account Value on the effective date of the benefit, plus the amount of any “adjusted” Purchase Payments made within one year after the effective date of the benefit. “Adjusted” Purchase Payments means Purchase Payments we receive, increased by any Purchase Credits applied to your Account Value in relation to Purchase Payments, and decreased by any fees or tax charges deducted from such Purchase Payments upon allocation to the Annuity. This means that if you do not take a withdrawal on or before the 12 th Anniversary of the benefit, your Protected Withdrawal Value on the 12 th Anniversary will be at least double (200%) your initial Protected Withdrawal Value established on the date of benefit election. As such, you should carefully consider when it is most appropriate for you to begin taking withdrawals under the benefit. Once the first Lifetime Withdrawal is made, the Protected Withdrawal Value at any time is equal to the greater of (i) the Protected Withdrawal Value on the date of the first Lifetime Withdrawal, increased for subsequent Purchase Payments (including any associated Purchase Credits) and reduced for subsequent Lifetime Withdrawals, and (ii) the highest daily Unadjusted Account Value upon any step-up, increased for subsequent Purchase Payments (including any associated Purchase Credits) and reduced for subsequent Lifetime Withdrawals (see below). Key Feature – Annual Income Amount under the Spousal Highest Daily Lifetime 6 Plus Benefit The Annual Income Amount is equal to a specified percentage of the Protected Withdrawal Value at the first Lifetime Withdrawal and does not reduce in subsequent Annuity Years, as described below. The percentage initially depends on the age of the younger designated life on the date of the first Lifetime Withdrawal after election of the benefit. The percentages are: 4% for ages 50-64, 5% for ages 65-84, and 6% for ages 85 and older. We use the age of the younger designated life even if that designated life is no longer a participant under the Annuity due to death or divorce. Under the Spousal Highest Daily Lifetime 6 Plus benefit, if your cumulative Lifetime Withdrawals in an Annuity Year are less than or equal to the Annual Income Amount, they will not reduce your Annual Income Amount in subsequent Annuity Years, but any such withdrawals will reduce the Annual Income Amount on a dollar-for-dollar basis in that Annuity Year and also will reduce the Protected Withdrawal Value on a dollar-for-dollar basis. If your cumulative Lifetime Withdrawals in an Annuity Year are in excess of the Annual Income Amount for any Annuity Year (“Excess Income”), your Annual Income Amount in subsequent years will be reduced (except with regard to Required Minimum Distributions for this Annuity that comply with our rules) by the result of the ratio of the Excess Income to the Unadjusted Account Value immediately prior to such withdrawal (see examples of this calculation below). Excess Income also will reduce the Protected Withdrawal Value by the same ratio. As discussed in this paragraph, when you make a partial withdrawal that is subject to a CDSC and/or tax withholding, we will identify the amount that includes not only the amount you actually receive, but also the amount of the CDSC and/or tax withholding, to determine whether your withdrawal has exceeded the Annual Income Amount. When you take a partial withdrawal, you may request a “gross” withdrawal amount (e.g., $2000) but then have any CDSC and/or tax withholding deducted from the amount you actually receive (although an MVA may also be applied to your remaining Unadjusted Account Value, it is not considered for purposes of determining Excess Income). The portion of a withdrawal that exceeded C-16
your Annual Income Amount (if any) would be treated as Excess Income and thus would reduce your Annual Income Amount in subsequent years. Alternatively, you may request that a “net” withdrawal amount actually be paid to you (e.g., $2000), with the understanding that any CDSC and/or tax withholding (e.g., $240) be applied to your remaining Unadjusted Account Value (although an MVA may also be applied to your remaining Unadjusted Account Value, it is not considered for purposes of determining Excess Income). In the latter scenario, we determine whether any portion of the withdrawal is to be treated as Excess Income by looking to the sum of the net amount you actually receive (e.g., $2000) and the amount of any CDSC and/or tax withholding (in this example, a total of $2240). The amount of that sum (e.g., the $2000 you received plus the $240 for the CDSC and/or tax withholding) that exceeds your Annual Income Amount will be treated as Excess Income – thereby reducing your Annual Income Amount in subsequent years. You may use the Systematic Withdrawal program to make withdrawals of the Annual Income Amount. Any systematic withdrawal will be deemed a Lifetime Withdrawal under this benefit. Any Purchase Payment that you make subsequent to the election of Spousal Highest Daily Lifetime 6 Plus and subsequent to the first Lifetime Withdrawal will (i) immediately increase the then-existing Annual Income Amount by an amount equal to a percentage of the Purchase Payment (including any associated Purchase Credits) based on the age of the younger designated life at the time of the first Lifetime Withdrawal (the percentages are: 4% for ages 50-64, 5% for ages 65-84, and 6% for ages 85 and older), and (ii) increase the Protected Withdrawal Value by the amount of the Purchase Payment (including any associated Purchase Credits). If your Annuity permits additional Purchase Payments, we may limit any additional Purchase Payment(s) if we determine that as a result of the timing and amounts of your additional Purchase Payments and withdrawals, the Annual Income Amount is being increased in an unintended fashion. Among the factors we will use in making a determination as to whether an action is designed to increase the Annual Income Amount in an unintended fashion is the relative size of additional Purchase Payment(s). Subject to state law, we reserve the right to not accept additional Purchase Payments if we are not then offering this benefit for new elections. We will exercise such reservation of right for all annuity purchasers in the same class in a nondiscriminatory manner. Highest Daily Auto Step-Up An automatic step-up feature (“Highest Daily Auto Step-Up”) is part of this benefit. As detailed in this paragraph, the Highest Daily Auto Step-Up feature can result in a larger Annual Income Amount subsequent to your first Lifetime Withdrawal. The Highest Daily Step-Up starts with the anniversary of the Issue Date of the Annuity (the “Annuity Anniversary”) immediately after your first Lifetime Withdrawal under the benefit. Specifically, upon the first such Annuity Anniversary, we identify the Unadjusted Account Value on each Valuation Day within the immediately preceding Annuity Year after your first Lifetime Withdrawal. Having identified the highest daily value (after all daily values have been adjusted for subsequent Purchase Payments and withdrawals), we then multiply that value by a percentage that varies based on the age of the younger designated life on the Annuity Anniversary as of which the step-up would occur. The percentages are 4% for ages 50-64, 5% for ages 65-84, and 6% for ages 85 and older. If that value exceeds the existing Annual Income Amount, we replace the existing amount with the new, higher amount. Otherwise, we leave the existing Annual Income Amount intact. We will not automatically increase your Annual Income Amount solely as a result of your attaining a new age that is associated with a new age-based percentage. The Unadjusted Account Value on the Annuity Anniversary is considered the last daily step-up value of the Annuity Year. In later years (i.e., after the first Annuity Anniversary after the first Lifetime Withdrawal), we determine whether an automatic step-up should occur on each Annuity Anniversary by performing a similar examination of the Unadjusted Account Values that occurred on Valuation Days during the year. Taking Lifetime Withdrawals could produce a greater difference between your Protected Withdrawal Value and your Unadjusted Account Value, which may make a Highest Daily Auto Step-up less likely to occur. At the time that we increase your Annual Income Amount, we also increase your Protected Withdrawal Value to equal the highest daily value upon which your step-up was based only if that results in an increase to the Protected Withdrawal Value. Your Protected Withdrawal Value will never be decreased as a result of an income step-up. If, on the date that we implement a Highest Daily Auto Step-Up to your Annual Income Amount, the charge for Spousal Highest Daily Lifetime 6 Plus has changed for new purchasers, you may be subject to the new charge at the time of such step-up. Prior to increasing your charge for Spousal Highest Daily Lifetime 6 Plus upon a step-up, we would notify you, and give you the opportunity to cancel the automatic step-up feature. If you receive notice of a proposed step-up and accompanying fee increase, you should carefully evaluate whether the amount of the step-up justifies the increased fee to which you will be subject. Any such increased charge will not be greater than the maximum charge set forth in the table entitled “Your Optional Benefit Fees and Charges”. If you are enrolled in a Systematic Withdrawal program, we will not automatically increase the withdrawal amount when there is an increase to the Annual Income Amount. You must notify us in order to increase the withdrawal amount of any Systematic Withdrawal program. The Spousal Highest Daily Lifetime 6 Plus benefit does not affect your ability to take withdrawals under your Annuity, or limit your ability to take partial withdrawals that exceed the Annual Income Amount. Under Spousal Highest Daily Lifetime 6 Plus, if your cumulative Lifetime Withdrawals in an Annuity Year are less than or equal to the Annual Income Amount, they will not reduce your Annual Income Amount in subsequent Annuity Years, but any such withdrawals will reduce the Annual Income C-17
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PRUCO LIFE INSURANCE COMPANY PRUCO
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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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Guarantee Period: The period of tim
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C SERIES There is no CDSC or other
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OPTIONAL BENEFIT ANNUALIZED OPTIONA
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OPTIONAL BENEFIT ANNUALIZED OPTIONA
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EXPENSE EXAMPLES These examples are
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Please see “Investment Options,
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INVESTMENT OPTIONS The Investment O
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INVESTMENT OBJECTIVES/POLICIES ADVA
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INVESTMENT OBJECTIVES/POLICIES AST
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group (Group II) our “Custom Port
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For the Long-Term MVA Option, a Gua
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FEES, CHARGES AND DEDUCTIONS In thi
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Settlement Service Charge: If your
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additional Purchase Payments, unles
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Please note the following additiona
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MANAGING YOUR ACCOUNT VALUE There a
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Please Note: Contracts managed by y
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ACCESS TO ACCOUNT VALUE TYPES OF DI
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prior to age 59 1 ⁄2 if you elect
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ANNUITY OPTIONS Annuitization invol
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LIVING BENEFITS Pruco Life offers d
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Income 2.0 may be appropriate if yo
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subsequent Purchase Payments and wi
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make will be the first Lifetime Wit
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certain in order to comply with the
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transfer all amounts held in the AS
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Example: Assuming the Target Ratio
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If you elect Highest Daily Lifetime
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If the Annuity permits additional P
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If you have not made a Lifetime Wit
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▪ Spousal Highest Daily Lifetime
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Required Minimum Distributions See
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▪ One Annuity Owner, where the Ow
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effective date of the benefit, the
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Highest Daily Lifetime Income 2.0 w
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▪ The Annuitant was 70 years old
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▪ Please note that if your Unadju
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The benefit automatically terminate
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(c) all Purchase Payments (includin
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▪ Both designated lives were 70 y
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Required Minimum Distributions See
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newly-elected benefit will commence
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GUARANTEED RETURN OPTION PLUS II (G
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time. The formula determines the ap
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Value” above for more details). Y
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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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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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