Strategic Partners Plus 3 - Prudential Annuities

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PART I SUMMARY STRATEGIC PARTNERS PLUS 3PROSPECTUS Contract described herein is no longer available for sale. 1
PART I: STRATEGIC PARTNERS PLUS 3PROSPECTUS SUMMARY GLOSSARY We have tried to make this prospectus as easy to read and understand as possible. By the nature of the contract, however, certain technical words or terms are unavoidable. We have identified the following as some of these words or terms. Accumulation Phase The period that begins with the contract date (which we define below) and ends when you start receiving income payments, or earlier if the contract is terminated through a full withdrawal or payment of a death benefit. Adjusted Contract Value When you begin receiving income payments, the value of your contract adjusted for any market value adjustment minus any charge we impose for premium taxes and withdrawal charges. Adjusted Purchase Payment Your invested Purchase Payment is adjusted for any subsequent withdrawals. The adjusted Purchase Payment is used only for calculations of the Earnings Appreciator Benefit. Annual Income Amount Under the Lifetime Five Income Benefit and Highest Daily Lifetime Seven Benefit, an amount that you can withdraw each year as long as the annuitant lives. For the Highest Daily Lifetime Five Benefit only, we refer to an amount that you can withdraw each year as long as the annuitant lives as the “Total Annual Income Amount.” The Total Annual Income Amount may reflect the inclusion of an additional sum, if you have made no withdrawal during the first ten years that the Highest Daily Lifetime Five Benefit is in effect. The annual income amount is set initially as a percentage of the Protected Withdrawal Value, but will be adjusted to reflect subsequent Purchase Payments, withdrawals, and any step-up. Under the Spousal Lifetime Five Income Benefit and Spousal Highest Daily Lifetime Seven Benefit, the annual income amount is paid until the later death of two natural persons who are each other’s spouses at the time of election and at the first death of one of them. Annual Withdrawal Amount Under the terms of the Lifetime Five Income Benefit, an amount that you can withdraw each year as long as there is Protected Withdrawal Value remaining. The Annual Withdrawal Amount is set initially to equal 7% of the initial Protected Withdrawal Value, but will be adjusted to reflect subsequent Purchase Payments, withdrawals, and any step-up. Annuitant The person whose life determines the amount of income payments that we will make. Except as indicated below, if the annuitant dies before the annuity date, the co-annuitant (if any) becomes the annuitant if the contract’s requirements for changing the annuity date are met. If, upon the death of the annuitant, there is no surviving eligible co-annuitant, and the owner is not the annuitant, then the owner becomes the annuitant. Generally, if an annuity is owned by an entity and the entity has named a co-annuitant, the co-annuitant will become the annuitant upon the death of the annuitant, and no death benefit is payable. Unless we agree otherwise, the contract is eligible to have a co-annuitant designation only if the entity that owns the contract is (1) a plan described in Internal Revenue Code Section 72(s)(5)(A)(i) (or any successor Code section thereto); (2) an entity described in Code Section 72(u)(1) (or any successor Code section thereto); or (3) a custodial account established pursuant to the provisions in Code Section 408(a) (or any successor Code section thereto) (“Custodial Account”). Where the contract is held by a Custodial Account, the co-annuitant will not automatically become the annuitant upon the death of the annuitant. Upon the death of the annuitant, the Custodial Account will have the choice, subject to our rules, to either elect to receive the death benefit or elect to continue the contract. If the contract is continued, then the Contract Value as of the date of due proof of death of the annuitant will reflect the amount that would have been payable had a death benefit been paid. Contract described herein is no longer available for sale. Annuity Date The date when income payments are scheduled to begin. You must have our permission to change the annuity date. If the co-annuitant becomes the annuitant due to the death of the annuitant, and the co-annuitant is older than the annuitant, then the annuity date will be based on the age of the co-annuitant, provided that the contract’s requirements for changing the annuity date are met (e.g., the co-annuitant cannot be older than a specified age). If the co-annuitant is younger than the annuitant, then the annuity date will remain unchanged. Beneficiary The person(s) or entity you have chosen to receive a death benefit. 2
Page 1 and 2: NOTICE REGARDING RESTRICTIONS ON AD
Page 3 and 4: We no longer offer certain of our v
Page 5 and 6: The Prudential Series Fund Jennison
Page 7 and 8: Contract described herein is no lon
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Page 17 and 18: SUMMARY FOR SECTIONS 1-11 For a mor
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5: WHAT ARE THE LIFETIME WITHDRAWAL
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6: WHAT IS THE INCOME APPRECIATOR B
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7: HOW CAN IPURCHASE ASTRATEGIC PAR
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8: WHAT ARE THE EXPENSES ASSOCIATED
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10: WHAT ARE THE TAX CONSIDERATIONS
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11: OTHER INFORMATION continued are
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11: OTHER INFORMATION continued Pru
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11: OTHER INFORMATION continued ▪
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Accumulation Unit Value at Beginnin
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STRATEGIC PARTNERS ANNUITY PRODUCT
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0% GROSS RATE OF RETURN YR SP FLEX
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10% GROSS RATE OF RETURN YR SP FLEX
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The following formula, which is set
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“a” Factors for Liability Calcu
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Contributions of up to the maximum
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(2) the distribution must be made i
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Many Prudential Financial companies
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The Prudential Insurance Company of
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Strategic Partners Plus 3 - Prudential Annuities

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