Strategic Partners Plus 3 - Prudential Annuities

SUMMARY FOR SECTIONS 1–11 continued▪▪▪— 0.75% if you choose the Spousal Lifetime Five Income benefit (1.50% maximum charge). This charge is in addition to thecharge for the applicable death benefit.— 0.60% if you choose the Highest Daily Lifetime Five benefit (1.50% maximum charge). This charge is in addition to thecharge for the applicable death benefit.— 0.60% of the Protected Withdrawal Value if you choose the Highest Daily Lifetime Seven benefit (1.50% maximumcharge). This charge is in addition to the charge for the applicable death benefit.— 0.75% of the Protected Withdrawal Value if you choose the Spousal Highest Daily Lifetime Seven Income benefit (1.50%maximum charge). This charge is in addition to the charge for the applicable death benefit.We impose an additional insurance and administrative charge of 0.10% annually for the Contract With Credit.We will deduct an additional charge if you choose the Guaranteed Minimum Income Benefit. We deduct this annual chargefrom your Contract Value on the contract anniversary and upon certain other events. The charge for this benefit is equal to0.50% for contracts sold on or after May 1, 2004 (0.45% for all other contracts), of the average GMIB protected value (1.00%maximum charge).We will deduct an additional charge if you choose the Income Appreciator Benefit. We deduct this charge from your ContractValue on the contract anniversary and upon certain other events. The charge for this benefit is based on an annual rate of0.25% of your Contract Value.▪ There are also expenses associated with the mutual funds. For 2007, the fees of these funds ranged from 0.37% to 1.65%annually. For certain funds, expenses are reduced pursuant to expense waivers and comparable arrangements. In general, theseexpense waivers and comparable arrangements are not guaranteed, and may be terminated at any time.▪If you withdraw money less than seven contract anniversaries after making a purchase payment, then you may have to pay awithdrawal charge on all or part of the withdrawal. This charge ranges from 1-7% for the Contract Without Credit and 5-8%for the Contract With Credit.For more information, including details about other possible charges under the contract, see “Summary Of Contract Expenses” andSection 8, “What Are The Expenses Associated With The Strategic Partners Plus 3 Contract?”SECTION 9How Can I Access My Money?You may withdraw money at any time during the accumulation phase. You may, however, be subject to income tax and, if youmake a withdrawal prior to age 59 1 ⁄2, an additional tax penalty as well. For the Contract Without Credit, if you withdraw moneyless than seven contract anniversaries after making a purchase payment, we may impose a withdrawal charge ranging from 1-7%.For the Contract With Credit, we may impose a withdrawal charge ranging from 5-8%.Under the market value adjustment option, you will be subject to a market value adjustment if you make a withdrawal or transferfrom the option prior to the end of a guarantee period.We offer optional living benefits – the Lifetime Five Income Benefit, Spousal Lifetime Five Income Benefit, Highest DailyLifetime Five Benefit, Highest Daily Lifetime Seven Income Benefit, and Spousal Highest Daily Lifetime Seven Benefit underwhich we guarantee that certain amounts will be available to you for withdrawal, regardless of market-related declines in yourContract Value. You need not participate in any of these benefits in order to withdraw some or all of your money. You also mayaccess your Income Appreciator benefit through withdrawals.SECTION 10What Are The Tax Considerations Associated With The Strategic Partners Plus 3 Contract?Your earnings are generally not taxed until withdrawn. If you withdraw money during the accumulation phase, the tax laws treatthe withdrawal as a withdrawal of earnings, which are taxed as ordinary income. If you are younger than age 59 1 ⁄2 when you takemoney out, you may be charged a 10% federal tax penalty on the earnings in addition to ordinary taxation. A portion of thepayments you receive during the income phase is considered a partial return of your original investment and therefore will not betaxable as income. Generally, all amounts withdrawn from an Individual Retirement Annuity (IRA) contract (excluding RothIRAs) are taxable and subject to the 10% penalty if withdrawn prior to age 59 1 ⁄2.Contract described herein is no longer available for sale.SECTION 11Other InformationThis contract is issued by Pruco Life Insurance Company of New Jersey (Pruco Life of New Jersey), an indirect subsidiary of ThePrudential Insurance Company of America, and sold by registered representatives of affiliated and unaffiliated broker/dealers.10