Prudential Premier Retirement Variable Annuities

More documents

Recommendations

Info

INVESTMENT OBJECTIVES/POLICIES AST Bond Portfolio 2023: seeks the highest total return for a specific period of time, consistent with the preservation of capital and liquidity needs. Total return is comprised of current income and capital appreciation. Under normal market conditions, the Portfolio invests at least 80% of its investable assets in bonds. The Portfolio is designed to meet the parameters established to support certain living benefits for variable annuities that mature on December 31, 2023. Please note that you may not make purchase payments to this Portfolio, and that this Portfolio is available only with certain living benefits. AST Capital Growth Asset Allocation Portfolio: seeks to obtain a total return consistent with its specified level of risk. The Portfolio primarily invests its assets in a diversified portfolio of other mutual funds, within the Advanced Series Trust and certain affiliated money market funds. Under normal market conditions, the Portfolio will devote approximately 75% of its net assets to underlying portfolios investing primarily in equity securities (with a range of 67.5% to 80%), and 25% of its net assets to underlying portfolios investing primarily in debt securities and money market instruments (with a range of 20.0% to 32.5%). The Portfolio is not limited to investing exclusively in shares of the underlying portfolios and may invest in securities, exchange traded funds (ETFs), and futures contracts, swap agreements and other financial and derivative instruments. AST CLS Moderate Asset Allocation Portfolio: seeks the highest potential total return consistent with its specified level of risk tolerance. Under normal circumstances, at least 90% of the Portfolio’s assets will be invested in other portfolios of Advanced Series Trust (the underlying portfolios) while no more than 10% of the Portfolio’s assets may be invested in exchange traded funds (ETFs). Under normal market conditions, the Portfolio will invest approximately 50% of its net assets to equity securities and approximately 50% of its net assets to debt securities and money market instruments. The equity portion may range from 40% to 60% of net assets to underlying portfolios and ETFs investing primarily in equity securities, and from 40% to 60% of net assets to underlying portfolios and ETFs investing primarily in money market instruments and debt securities, which may include non-investment grade bonds. “Non-investment grade bonds” are commonly referred to as “junk bonds”. AST Cohen & Steers Realty Portfolio: seeks to maximize total return through investment in real estate securities. The Portfolio pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets in securities issued by companies associated with the real estate industry, such as real estate investment trusts (REITs). Under normal circumstances, the Portfolio will invest substantially all of its assets in the equity securities of real estate related issuers, i.e., a company that derives at least 50% of its revenues from the ownership, construction, financing, management or sale of real estate or that has at least 50% of its assets in real estate. AST Federated Aggressive Growth Portfolio: seeks capital growth. The Portfolio pursues its investment objective by investing primarily in the stocks of small companies that are traded on national security exchanges, NASDAQ stock exchange and the overthe-counter-market. Small companies are defined as companies with market capitalizations similar to companies in the Russell 2000 Index and S&P 600 Small Cap Index. AST FI Pyramis ® Asset Allocation Portfolio: seeks to maximize total return. In seeking to achieve the Portfolio’s investment objective, the Portfolio’s assets are allocated across eight uniquely specialized investment strategies. The Portfolio has five strategies that invest primarily in equity securities, two fixed-income strategies (the Broad Market Duration Strategy and the High Yield Bond Strategy), and one strategy designed to provide liquidity (the Liquidity Strategy). Pyramis is a registered service mark of FMR LLC. Used under license. 20 STYLE/ TYPE FIXED INCOME ASSET ALLOCA- TION ASSET ALLOCA- TION SPECIALTY SMALL CAP GROWTH ASSET ALLOCA- TION PORTFOLIO ADVISOR/ SUBADVISOR Prudential Investment Management, Inc. Prudential Investments LLC; Quantitative Management Associates LLC CLS Investments, LLC Cohen & Steers Capital Management, Inc. Federated Equity Management Company of Pennsylvania/ Federated Global Investment Management Corp. Pyramis Global Advisors, LLC a Fidelity Investments Company
INVESTMENT OBJECTIVES/POLICIES AST First Trust Balanced Target Portfolio: seeks long-term capital growth balanced by current income. The Portfolio seeks to achieve its objective by investing approximately 65% of its net assets in equity securities and approximately 35% of its net assets in fixedincome securities as of the annual security selection date. Depending on market conditions, the equity portion may range between 60-70% of the Portfolio’s net assets and the fixed-income portion may range between 30-40% of the Portfolio’s net assets. The revised allocations do not take into account the potential investment of up to 5% of the Portfolio’s assets in the “liquidity” investment sleeve. In seeking to achieve its investment objective, the Portfolio allocates its assets across multiple uniquely specialized investment strategies. On or about the annual selection date (currently March 1 under normal circumstances), the Portfolio establishes both the percentage allocations among the various investment strategies under normal circumstances and the percentage allocation of each security’s position within each of the investment strategies that invest primarily in equity securities. AST First Trust Capital Appreciation Target Portfolio: seeks long-term capital growth. The Portfolio seeks to achieve its objective by investing approximately 80% of its net assets in equity securities and approximately 20% of its net assets in fixed-income securities as of the annual security selection date. Depending on market conditions, the equity portion may range between 75-85% of the Portfolio’s net assets and the fixedincome portion may range between 15-25% of the Portfolio’s net assets. The revised allocations do not take into account the potential investment of up to 5% of the Portfolio’s assets in the “liquidity” investment sleeve. In seeking to achieve its investment objective, the Portfolio allocates its assets across multiple uniquely specialized investment strategies. On or about the annual selection date (currently March 1 under normal circumstances), the Portfolio establishes both the percentage allocations among the various investment strategies under normal circumstances and the percentage allocation of each security’s position within each of the investment strategies that invest primarily in equity securities. AST Franklin Templeton Founding Funds Allocation Portfolio: seeks capital appreciation while its secondary investment objective will be to seek income. Under normal market conditions the Portfolio will seek to achieve its investment objectives by allocating 33 1 ⁄3% of its assets to each of the Portfolio’s three subadvisors. The Portfolio will normally invest in a combination of domestic and foreign equity and fixed-income and money market securities. Depending upon the Portfolio’s ability to achieve the necessary asset scale, the Trust’s ability to implement certain legal agreements and custody arrangements, and market, economic, and financial conditions as of the Portfolio’s commencement of operations, it may take several weeks for the Portfolio’s assets to be fully invested in accordance with its investment objective and policies. During that time, it is anticipated that all or a portion of the Portfolio’s assets will be invested in high grade, short term debt securities (both fixed and floating rate), money market funds, short-term bond funds, exchange-traded funds, and/or index futures contracts. A relatively long initial investment period may negatively affect the Portfolio’s investment return and ability to achieve its investment objective. AST Global Real Estate Portfolio: seeks capital appreciation and income. The Portfolio will normally invest at least 80% of its investable assets (net assets plus any borrowing made for investment purposes) in equity-related securities of real estate companies. The Portfolio will invest in equity-related securities of real estate companies on a global basis and the Portfolio may invest up to 15% of its net assets in ownership interests in commercial real estate through investments in private real estate. AST Goldman Sachs Concentrated Growth Portfolio: seeks long-term growth of capital. The Portfolio will pursue its objective by investing primarily in equity securities of companies that the subadvisor believes have the potential to achieve capital appreciation over the long-term. The Portfolio seeks to achieve its investment objective by investing, under normal circumstances, in approximately 30 - 45 companies that are considered by the subadvisor to be positioned for long-term growth. 21 STYLE/ TYPE ASSET ALLOCA- TION ASSET ALLOCA- TION ASSET ALLOCA- TION SPECIALTY LARGE CAP GROWTH PORTFOLIO ADVISOR/ SUBADVISOR First Trust Advisors L.P. First Trust Advisors L.P. Franklin Advisers, Inc.; Franklin Mutual Advisers, LLC; Templeton Global Advisors Limited Prudential Real Estate Investors Goldman Sachs Asset Management, L.P.
Page 1 and 2:
PRUCO LIFE INSURANCE COMPANY PRUCO
Page 3 and 4:
UNDERLYING PORTFOLIO UNDERLYING MUT
Page 5 and 6:
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
Page 11 and 12:
that may periodically transfer your
Page 13 and 14:
Anniversary, we identify the Unadju
Page 15 and 16:
Non-Lifetime Withdrawal Feature You
Page 17 and 18:
▪ If annuity payments are to begi
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
Page 25 and 26:
While Spousal Highest Daily Lifetim
Page 27 and 28:
** In this example, the first daily
Page 29 and 30:
▪ Any Lifetime Withdrawal that yo
Page 31 and 32:
to the death claim and the payment
Page 33 and 34:
ages 59 1 ⁄2 to 64; 4.5% for ages
Page 35 and 36:
Example of proportional reductions
Page 37 and 38:
In general, withdrawals made from t
Page 39 and 40:
certain in order to comply with the
Page 41 and 42:
Upon termination of Highest Daily L
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
Page 49 and 50: newly-elected benefit will commence
Page 51 and 52: How Spousal Highest Daily Lifetime
Page 53 and 54: [THIS PAGE INTENTIONALLY LEFT BLANK
Page 60 and 61: The Prudential Insurance Company of
Page 62 and 63: COMBOSUP2 ADVANCED SERIES TRUST Sup
Page 64 and 65: Subadvisers Investment Categories a
Page 66 and 67: STYLE/ TYPE Asset Allocation COMBOS
Page 68 and 69: GENPROD2 PRUCO LIFE INSURANCE COMPA
Page 70 and 71: PRUCO LIFE INSURANCE COMPANY PRUCO
Page 72 and 73: In the section titled “Investment
Page 74 and 75: PRUCO LIFE INSURANCE COMPANY PRUCO
Page 76 and 77: Advanced Series Trust AST Academic
Page 78 and 79: DEATH BENEFITS ....................
Page 80 and 81: Guarantee Period: The period of tim
Page 82 and 83: C SERIES There is no CDSC or other
Page 84 and 85: OPTIONAL BENEFIT ANNUALIZED OPTIONA
Page 86 and 87: OPTIONAL BENEFIT ANNUALIZED OPTIONA
Page 88 and 89: UNDERLYING PORTFOLIO UNDERLYING MUT
Page 90 and 91: EXPENSE EXAMPLES These examples are
Page 92 and 93: Please see “Investment Options,
Page 94 and 95: INVESTMENT OPTIONS The Investment O
Page 96 and 97: INVESTMENT OBJECTIVES/POLICIES ADVA
Page 100 and 101: INVESTMENT OBJECTIVES/POLICIES AST
Page 108 and 109: group (Group II) our “Custom Port
Page 110 and 111: For the Long-Term MVA Option, a Gua
Page 112 and 113: FEES, CHARGES AND DEDUCTIONS In thi
Page 114 and 115: Settlement Service Charge: If your
Page 116 and 117: additional Purchase Payments, unles
Page 118 and 119: Please note the following additiona
Page 120 and 121: MANAGING YOUR ACCOUNT VALUE There a
Page 122 and 123: Please Note: Contracts managed by y
Page 124 and 125: ACCESS TO ACCOUNT VALUE TYPES OF DI
Page 126 and 127: prior to age 59 1 ⁄2 if you elect
Page 128 and 129: ANNUITY OPTIONS Annuitization invol
Page 130 and 131: LIVING BENEFITS Pruco Life offers d
Page 132 and 133: Income 2.0 may be appropriate if yo
Page 134 and 135: subsequent Purchase Payments and wi
Page 136 and 137: make will be the first Lifetime Wit
Page 138 and 139: certain in order to comply with the
Page 140 and 141: transfer all amounts held in the AS
Page 142 and 143: Example: Assuming the Target Ratio
Page 144 and 145: If you elect Highest Daily Lifetime
Page 146 and 147: If the Annuity permits additional P
Page 148 and 149:
If you have not made a Lifetime Wit
Page 150 and 151:
▪ Spousal Highest Daily Lifetime
Page 152 and 153:
Required Minimum Distributions See
Page 154 and 155:
▪ One Annuity Owner, where the Ow
Page 156 and 157:
effective date of the benefit, the
Page 158 and 159:
Highest Daily Lifetime Income 2.0 w
Page 160 and 161:
▪ The Annuitant was 70 years old
Page 162 and 163:
▪ Please note that if your Unadju
Page 164 and 165:
The benefit automatically terminate
Page 166 and 167:
(c) all Purchase Payments (includin
Page 168 and 169:
▪ Both designated lives were 70 y
Page 170 and 171:
Required Minimum Distributions See
Page 172 and 173:
newly-elected benefit will commence
Page 174 and 175:
GUARANTEED RETURN OPTION PLUS II (G
Page 176 and 177:
time. The formula determines the ap
Page 178 and 179:
Value” above for more details). Y
Page 180 and 181:
HD GRO II uses a predetermined math
Page 182 and 183:
Any amounts invested in the AST bon
Page 184 and 185:
DEATH BENEFITS TRIGGERS FOR PAYMENT
Page 186 and 187:
Calculation of Highest Anniversary
Page 188 and 189:
A surviving spouse’s ability to c
Page 190 and 191:
VALUING YOUR INVESTMENT VALUING THE
Page 192 and 193:
TAX CONSIDERATIONS The tax consider
Page 194 and 195:
Taxes Payable by Beneficiaries The
Page 196 and 197:
A Nonqualified annuity may also be
Page 198 and 199:
In any event, you must begin receiv
Page 200 and 201:
ERISA Requirements ERISA (the “Em
Page 202 and 203:
out of any other business we may co
Page 204 and 205:
Cost Averaging, auto rebalancing, a
Page 206 and 207:
Infinex Investments, Inc. ING Finan
Page 208 and 209:
County, Illinois, was served on Pru
Page 210 and 211:
[THIS PAGE INTENTIONALLY LEFT BLANK
Page 212 and 213:
Sub-Accounts Accumulation Unit Valu
Page 214 and 215:
Page 216 and 217:
Page 218 and 219:
Page 220 and 221:
Page 222 and 223:
Page 224 and 225:
Page 226 and 227:
Page 228 and 229:
Page 230 and 231:
PREMIER RETIREMENT L SERIES Pruco L
Page 232 and 233:
Page 234 and 235:
Sub-Accounts PREMIER RETIREMENT C S
Page 236 and 237:
Page 238 and 239:
Page 240 and 241:
Page 242 and 243:
Page 244 and 245:
Annuity Comparison X Series B Serie
Page 246 and 247:
The shaded values indicate the high
Page 248 and 249:
Page 250 and 251:
holidays), plus the amount of any P
Page 252 and 253:
Examples of dollar-for-dollar and p
Page 254 and 255:
Required Minimum Distributions Requ
Page 256 and 257:
Unadjusted Account Value and Protec
Page 258 and 259:
equire a transfer to the Bond Sub-a
Page 260 and 261:
to as the “LIA Amount”) if you
Page 262 and 263:
the latter scenario, we determine w
Page 264 and 265:
The “Periodic Value” is initial
Page 266 and 267:
Amount on a dollar-for-dollar basis
Page 268 and 269:
Here is the calculation: Withdrawal
Page 270 and 271:
Election of and Designations under
Page 272 and 273:
Page 274 and 275:
holidays), plus the amount of any P
Page 276 and 277:
Examples of dollar-for-dollar and p
Page 278 and 279:
Required Minimum Distributions Requ
Page 280 and 281:
▪ If you elect this benefit and i
Page 282 and 283:
Generally, the formula, which is ap
Page 284 and 285:
Additional Tax Considerations If yo
Page 286 and 287:
LIA Amount after the first Lifetime
Page 288 and 289:
section above entitled “How Highe
Page 290 and 291:
Highest Daily Auto Step-Up An autom
Page 292 and 293:
Non-Lifetime Withdrawal Feature You
Page 294 and 295:
apply to current participants in th
Page 296 and 297:
Page 298 and 299:
If the formula ratio is less than a
Page 300 and 301:
Page 302 and 303:
We reserve the right to waive the l
Page 304 and 305:
Page 306 and 307:
If the formula ratio is less than a
Page 308 and 309:
Page 310 and 311:
▪ T - the amount of a transfer in
Page 312 and 313:
Page 314 and 315:
You can have a traditional IRA whet
Page 316 and 317:
2. Rollovers from an employer retir
Page 318 and 319:
Distributions from traditional IRAs
Page 320 and 321:
Page 322 and 323:
income, and dividend income), pensi
Page 324 and 325:
c. Made to a Beneficiary or to your
Page 326 and 327:
Page 328 and 329:
CONTINGENT DEFERRED SALES CHARGE 1
Page 330 and 331:
Page 332:
The Prudential Insurance Company of
show all

Prudential Premier Retirement Variable Annuities

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?