Prudential Premier Retirement Variable Annuities

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If the deduction of the charge would result in the Unadjusted Account Value falling below the lesser of $500 or 5% of the sum of the Unadjusted Account Value on the effective date of the benefit plus all Purchase Payments made subsequent thereto (and any associated Purchase Credits) (we refer to this as the “Account Value Floor”), we will only deduct that portion of the charge that would not cause the Unadjusted Account Value to fall below the Account Value Floor. If the Unadjusted Account Value on the date we would deduct a charge for the benefit is less than the Account Value Floor, then no charge will be assessed for that benefit quarter. Charges deducted upon termination of the benefit may cause the Unadjusted Account Value to fall below the Account Value Floor. If a charge for Highest Daily Lifetime Income v2.1 with HD DB would be deducted on the same day we process a withdrawal request, the charge will be deducted first, then the withdrawal will be processed. The withdrawal could cause the Unadjusted Account Value to fall below the Account Value Floor. While the deduction of the charge (other than the final charge) may not reduce the Unadjusted Account Value to zero, partial withdrawals may reduce the Unadjusted Account Value to zero. If this happens and the Annual Income Amount is greater than zero, we will make payments under the benefit. Election of and Designations under the Benefit For Highest Daily Lifetime Income v2.1 with HD DB, there must be either a single Owner who is the same as the Annuitant, or if the Annuity is entity owned, there must be a single natural person Annuitant. In either case, the Annuitant must be between 50 and 79 years old. Any change of the Annuitant under the Annuity will result in cancellation of Highest Daily Lifetime Income v2.1 with HD DB. Similarly, any change of Owner will result in cancellation of Highest Daily Lifetime Income v2.1 with HD DB, except if (a) the new Owner has the same taxpayer identification number as the previous Owner, (b) ownership is transferred from a custodian or other entity to the Annuitant, or vice versa or (c) ownership is transferred from one entity to another entity that satisfies our administrative ownership guidelines. Highest Daily Lifetime Income v2.1 with HD DB can be elected at the time that you purchase your Annuity or after the Issue Date, subject to its availability, and our eligibility rules and restrictions. If you elect Highest Daily Lifetime Income v2.1 with HD DB and terminate it, you can re-elect it, subject to our current rules and availability. See “Termination of Existing Benefits and Election of New Benefits” in the prospectus for information pertaining to elections, termination and re-election of benefits. Please note that if you terminate a living benefit and elect Highest Daily Lifetime Income v2.1 with HD DB, you lose the guarantees that you had accumulated under your existing benefit and your guarantees under Highest Daily Lifetime Income v2.1 with HD DB will be based on your Unadjusted Account Value on the effective date of Highest Daily Lifetime Income v2.1 with HD DB. You and your Financial Professional should carefully consider whether terminating your existing benefit and electing Highest Daily Lifetime Income v2.1 with HD DB is appropriate for you. We reserve the right to waive, change and/or further limit the election frequency in the future for new elections of this benefit. If you wish to elect this benefit and you are currently participating in a Systematic Withdrawal program, amounts withdrawn under the program must be taken on a pro rata basis from your Annuity’s Sub-accounts (i.e., in direct proportion to the proportion that each such Sub-account bears to your total Account Value) in order for you to be eligible for the benefit. Thus, you may not elect Highest Daily Lifetime Income v2.1 with HD DB so long as you participate in a Systematic Withdrawal program in which withdrawals are not taken pro rata. Termination of the Benefit You may terminate Highest Daily Lifetime Income v2.1 with HD DB at any time by notifying us. If you terminate the benefit, any guarantee provided by the benefit, including the HD DB, will terminate as of the date the termination is effective, and certain restrictions on re-election may apply. The benefit automatically terminates upon the first to occur of the following: (i) your termination of the benefit; (ii) your surrender of the Annuity; (iii) your election to begin receiving annuity payments (although if you have elected to receive the Annual Income Amount in the form of annuity payments, we will continue to pay the Annual Income Amount); (iv) our receipt of Due Proof of Death of the Owner (or Annuitant for entity-owned annuities); (v) both the Unadjusted Account Value and Annual Income Amount equal zero due to a withdrawal of Excess Income; (vi) you allocate or transfer any portion of your Account Value to any Sub-account(s) to which you are not permitted to electively allocate or transfer Account Value (may vary by state);* or (vii) you cease to meet our requirements as described in “Election of and Designations under the Benefit” above. * Prior to terminating a benefit, we will send you written notice and provide you with an opportunity to reallocate to permitted investment options applicable to your benefit. “Due Proof of Death” is satisfied when we receive all of the following in Good Order: (a) a death certificate or similar documentation acceptable to us; (b) all representations we require or which are mandated by applicable law or regulation in relation to the death claim and the payment of death proceeds (representations may include, but are not limited to, trust or estate paperwork (if needed); consent forms (if applicable); and claim forms from at least one beneficiary); and (c) any applicable election of the method of payment of the death benefit, if not previously elected by the Owner, by at least one Beneficiary. 40
Upon termination of Highest Daily Lifetime Income v2.1 with HD DB, other than upon the death of the Owner or Annuitization, we impose any accrued fee for the benefit (i.e., the fee for the pro-rated portion of the year since the fee was last assessed), and thereafter we cease deducting the charge for the benefit. However, if the amount in the Sub-accounts is not enough to pay the charge, we will reduce the fee to no more than the amount in the Sub-accounts. With regard to your investment allocations, upon termination we will: (i) leave intact amounts that are held in the Permitted Sub-accounts, and (ii) unless you are participating in an asset allocation program (i.e., Static Re-balancing Program, or 6 or 12 Month DCA Program for which we are providing administrative support), transfer all amounts held in the AST Investment Grade Bond Sub-account to your variable Investment Options, pro rata (i.e. in the same proportion as the current balances in your variable Investment Options). If, prior to the transfer from the AST Investment Grade Bond Sub-account, the Unadjusted Account Value in the variable Investment Options is zero, we will transfer such amounts to the AST Money Market Sub-account. If a surviving spouse elects to continue the Annuity, Highest Daily Lifetime Income v2.1 with HD DB terminates upon Due Proof of Death. The spouse may newly elect the benefit subject to the restrictions discussed above. How Highest Daily Lifetime Income v2.1 with HD DB Transfers Unadjusted Account Value Between Your Permitted Sub-accounts and the AST Investment Grade Bond Sub-account See “How Highest Daily Lifetime Income v2.1 Transfers Unadjusted Account Value Between Your Permitted Sub-accounts and the AST Investment Grade Bond Sub-account” in the discussion of Highest Daily Lifetime Income v2.1 above for information regarding this component of the benefit. Additional Tax Considerations Please see the Additional Tax Considerations section under Highest Daily Lifetime Income v2.1 above. SPOUSAL HIGHEST DAILY LIFETIME INCOME v2.1 WITH HIGHEST DAILY DEATH BENEFIT Spousal Highest Daily Lifetime Income v2.1 with Highest Daily Death Benefit (“HD DB”) 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. This benefit also provides for a highest daily death benefit, subject to the terms of the benefit. This version is only being offered in those jurisdictions where we have received regulatory approval and will be offered subsequently in other jurisdictions when we receive regulatory approval in those jurisdictions. 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 Remaining Designated Life (as described below) (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) (“Guarantee Payments”). 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 v2.1 with HD DB after the death of the first spouse (subject to the provisions below regarding a Remaining Designated Life), and also want to provide a death benefit. 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 v2.1 with HD DB is the predetermined mathematical formula we employ that may periodically transfer your Unadjusted Account Value to and from the AST Investment Grade Bond Subaccount. See the section above entitled “How Highest Daily Lifetime Income v2.1 Transfers Unadjusted Account Value Between Your Permitted Sub-accounts and the AST Investment Grade Bond Sub-account.” Spousal Highest Daily Lifetime Income v2.1 with HD DB is the spousal version of Highest Daily Lifetime Income v2.1 with HD DB. Spousal Highest Daily Lifetime Income v2.1 is offered with or without the HD DB component; however, you may only elect HD DB with Spousal Highest Daily Lifetime Income v2.1, and you must elect the HD DB benefit at the time you elect Spousal Highest Daily Lifetime Income v2.1. If you elect Spousal Highest Daily Lifetime Income v2.1 without HD DB and would like to add the feature later, you must first terminate Spousal Highest Daily Lifetime Income v2.1 and elect Spousal Highest Daily Lifetime Income v2.1 with HD DB (subject to availability and benefit re-election provisions). Please note that if you terminate Spousal Highest Daily Lifetime Income v2.1 and elect Spousal Highest Daily Lifetime Income v2.1 with HD DB 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 active. Spousal Highest Daily Lifetime Income 41
Page 1 and 2: PRUCO LIFE INSURANCE COMPANY PRUCO
Page 3 and 4: UNDERLYING PORTFOLIO UNDERLYING MUT
Page 7 and 8: ii. To the list of available variab
Page 9 and 10: II. NEW OPTIONAL BENEFITS This supp
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Page 13 and 14: Anniversary, we identify the Unadju
Page 15 and 16: Non-Lifetime Withdrawal Feature You
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Page 19 and 20: (iv) our receipt of Due Proof of De
Page 21 and 22: Example (assume the income basis is
Page 23 and 24: taken first from your own Account V
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Page 29 and 30: ▪ Any Lifetime Withdrawal that yo
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Page 33 and 34: ages 59 1 ⁄2 to 64; 4.5% for ages
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Page 43 and 44: Key Feature - Annual Income Amount
Page 45 and 46: Example of dollar-for-dollar reduct
Page 47 and 48: Highest Daily Death Benefit A Death
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Page 60 and 61: The Prudential Insurance Company of
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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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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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