Prudential Premier Retirement Variable Annuities

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LIA Amount after the first Lifetime Withdrawal. If you become eligible for the LIA Amount after you have taken your first Lifetime Withdrawal, the available LIA Amount for the current and subsequent Annuity Years is equal to double the then current Annual Income Amount. However, the available LIA Amount in the current Annuity Year is reduced by any Lifetime Withdrawals that have been taken in the current Annuity Year. Cumulative Lifetime Withdrawals in an Annuity Year which are less than or equal to the LIA Amount (when eligible for the LIA Amount) will not reduce your LIA Amount in subsequent Annuity Years, but any such withdrawals will reduce the LIA Amount on a dollar-for-dollar basis in that Annuity Year. For new issuances of this benefit, we may institute a “cut-off” date that would stop the appreciation of the Protected Withdrawal Value, even if no Lifetime Withdrawal had been taken prior to the cut-off date (thus affecting the determination of the LIA Amount). We will not apply any cut-off date to those who elected this benefit prior to our institution of a cut-off date. Withdrawals in Excess of the LIA Amount. Withdrawals (other than the Non-Lifetime Withdrawal) of any amount in a given Annuity Year up to the LIA Amount will reduce the Protected Withdrawal Value by the amount of the withdrawal. However, if your cumulative Lifetime Withdrawals in an Annuity Year are in excess of the LIA Amount (“Excess Income”), your LIA Amount in subsequent years will be reduced (except with regard to Required Minimum Distributions) by the result of the ratio of the excess portion of the withdrawal to the Account Value immediately prior to the Excess Income. Excess Income also will reduce the Protected Withdrawal Value by the same ratio as the reduction to the LIA Amount. Any withdrawals that are less than or equal to the LIA Amount (when eligible) but in excess of the free withdrawal amount available under this Annuity will not incur a CDSC. As discussed in this paragraph, when you make a 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 LIA Amount. When you take a 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 your LIA Amount (if any) would be treated as an Excess Income and thus would reduce your LIA 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 LIA Amount will be treated as Excess Income – thereby reducing your LIA Amount in subsequent years. No CDSC is applicable to any Lifetime Withdrawal that is less than or equal to the LIA Amount, even if the total amount of such withdrawals in any Annuity Year exceeds any maximum free withdrawal amount described in the Annuity. Such Lifetime Withdrawals are not treated as withdrawals of Purchase Payments. Each withdrawal that is Excess Income is subject to any applicable CDSC if the withdrawal is greater than the Free Withdrawal amount under the Annuity. Withdrawals are not required. However, subsequent to the first Lifetime Withdrawal, the LIA Amount is not increased in subsequent Annuity Years if you decide not to take a withdrawal in an Annuity Year or take withdrawals in an Annuity Year that in total are less than the LIA Amount. Purchase Payments. If you are eligible for the LIA Amount as described under “Eligibility Requirements for LIA Amount” and you make an additional Purchase Payment, the Annual Income Amount is increased by an amount obtained by applying the applicable percentage (3% for ages 45-54; 4% for ages 55 to less than 59 1 ⁄2; 5% for ages 59 1 ⁄2-84; and 6% for ages 85 or older) to the Purchase Payment (including any associated Purchase Credits). The applicable percentage is based on the attained age of the designated life on the date of the first Lifetime Withdrawal after the benefit effective date. The LIA Amount is increased by double the Annual Income Amount, if eligibility for LIA has been met. The Protected Withdrawal Value is increased by the amount of each Purchase Payment (including any associated Purchase Credits). If the 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 (or, if eligible for LIA, the LIA 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 (or, if eligible for LIA, the LIA 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. Step Ups. If your Annual Income Amount is stepped up, your LIA Amount will be stepped up to equal double the stepped up Annual Income Amount. D-14
Guarantee Payments. If your Unadjusted Account Value is reduced to zero as a result of cumulative withdrawals that are equal to or less than the LIA Amount when you are eligible, and there is still a LIA Amount available, we will make an additional payment for that Annuity Year equal to the remaining LIA Amount. If this were to occur, you are not permitted to make additional Purchase Payments to your Annuity. Thus, in that scenario, the remaining LIA Amount would be payable even though your Unadjusted Account Value was reduced to zero. In subsequent Annuity Years we make payments that equal the LIA Amount as described in this section. We will make payments until the death of the single designated life. Should the designated life no longer qualify for the LIA Amount (as described under “Eligibility Requirements for LIA Amount” above), the Annual Income Amount would continue to be available. Subsequent eligibility for the LIA Amount would require the completion of the 120 day elimination period as well as meeting the LIA conditions listed above under “Eligibility Requirements for LIA Amount”. To the extent that cumulative withdrawals in the current Annuity Year that reduce your Unadjusted Account Value to zero are more than the LIA Amount (except in the case of Required Minimum Distributions), Highest Daily Lifetime Income with LIA terminates, and no additional payments are made. However, if a withdrawal in the latter scenario was taken to satisfy a Required Minimum Distribution (as described above) under the Annuity, then the benefit will not terminate, and we will continue to pay the LIA Amount in subsequent Annuity Years until the death of the designated life. Annuity Options. In addition to the Highest Daily Lifetime Income annuity options described above, after the tenth anniversary of the benefit effective date (“Tenth Anniversary”), you may also request that we make annuity payments each year equal to the Annual Income Amount. In any year that you are eligible for the LIA Amount, we make annuity payments equal to the LIA Amount. If you would receive a greater payment by applying your Unadjusted Account Value to receive payments for life under your Annuity, we will pay the greater amount. Annuitization prior to the Tenth Anniversary will forfeit any present or future LIA Amounts. We will continue to make payments until the death of the designated life. If this option is elected, the Annual Income Amount and LIA Amount will not increase after annuity payments have begun. If you elect Highest Daily Lifetime Income with LIA, and never meet the eligibility requirements, you will not receive any additional payments based on the LIA Amount. Termination of Highest Daily Lifetime Income with LIA. the LIA benefit terminates upon the first to occur of the following: ▪ your termination of the benefit; ▪ your surrender of the annuity; ▪ our receipt of due proof of death of the designated life; ▪ the annuity date, if unadjusted account value remains on the annuity date and an election is made to commence annuity payments prior to the tenth annuity anniversary; ▪ the valuation day on which each of the unadjusted account value and the annual income amount is zero; or ▪ if you cease to meet our requirements for elections of this benefit. Highest Daily Lifetime Income with LIA uses the same predetermined mathematical formula used with Highest Daily Lifetime Income and Spousal Highest Daily Lifetime Income. See the pertinent discussion in Highest Daily Lifetime Income above. SPOUSAL HIGHEST DAILY LIFETIME INCOME BENEFIT Spousal Highest Daily Lifetime Income 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 the lives of two individuals who are spouses. 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 later death of two natural persons who are each other’s spouses at the time of election of the benefit and at the first death of one of them (the “designated lives”, and each, a “designated life”), the ability to withdraw an annual amount (the “Annual Income Amount”) equal to a percentage of an initial principal 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 lives of the designated lives, provided you have not made 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 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). The benefit may be appropriate if you intend to make periodic withdrawals from your Annuity, wish to ensure that Sub-account performance will not affect your ability to receive annual payments, and wish either spouse to be able to continue Spousal Highest Daily Lifetime Income after the death of the first spouse. You are not required to make withdrawals as part of the benefit – the guarantees are not lost if you withdraw less than the maximum allowable amount each year under the rules of the benefit. An integral component of Spousal Highest Daily Lifetime Income is the predetermined mathematical formula we employ that may periodically transfer your Unadjusted Account Value to and from the AST Investment Grade Bond Sub-account. See the D-15
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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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PREMIER RETIREMENT L SERIES Pruco L
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Sub-Accounts PREMIER RETIREMENT C S
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Prudential Premier Retirement Variable Annuities

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