FlexGuard offers innovative index crediting strategies unique to Prudential, with access to variable investment options. It can be customized based on a client’s retirement goals and adjusted as their needs change. FlexGuard is issued by Pruco Life Insurance Company.
See how FlexGuard can help you create a customized strategy to protect and grow clients’ money
Plus, there are NO EXPLICIT PRODUCT FEES when allocating to FlexGuard’s index strategies.*
* Explicit product fees refers to the base contract fee, or mortality & expense risk charge and Administration Charge (M&E&A), that apply only to the variable investment options. Certain indices and ETFs associated with index strategies may be subject to an underlying fee or reduction. A surrender charge, or Contingent Deferred Sales Charge (CDSC), may apply in the event of an early withdrawal from the annuity.
How FlexGuard works
When the client purchases FlexGuard, you will help them make choices,
custom-building their annuity to meet their individual needs and goals.
Select their growth opportunity
FlexGuard offers several index crediting strategies: three that offer growth up to a Cap Rate and two that offer accelerated growth potential that is uncapped. You can choose one or combine them. The chart below provides an overview of each of the index crediting strategies.
Growth opportunities
| Index Strategy | Description |
|---|---|
| Point-to-Point with Cap Rate | This strategy offers the opportunity to receive any positive index growth up to an upper limit (called a “Cap”) during the chosen crediting period. |
| Enhanced Cap Rate | This strategy offers higher Cap Rates than the Point-to-Point with Cap Rate strategy, giving clients the opportunity to capture more market growth. In exchange, clients give up a percentage of positive returns, known as the Spread. |
| Dual Directional | This strategy offers growth potential up to a Cap Rate when Index Return is positive, and can still provide growth potential when the Index Return is negative (within or equal to the Buffer). |
Uncapped growth opportunities
(no maximum amount of credit)
| Index Strategy | Description |
|---|---|
| Step Rate Plus | This strategy provides advantages beyond a traditional step rate index strategy by offering accelerated growth potential in times when the index return exceeds the preset Step Rate, known as the “ceiling”. Clients benefit from the greater Step Rate or a Participation Rate multiplied by the Index Return. |
| Tiered Participation Rate | This strategy provides the unique potential to outperform the Index Return. This strategy offers clients 100% of any positive index growth up to a Tier Level. Growth exceeding the Tier Level results in an Index Credit of MORE than 100%, leading to additional growth. |
Before making a selection, clients should review each index crediting strategy flyer and the current rate sheet. New business Spreads, Cap Rates, Step Rates, Participation Rates, and Tier Levels set by Prudential are determined at contract issue and are subject to change at any time. It's important clients fully understand each crediting strategy to assess whether it aligns to their unique goals and objectives.
FlexGuard and all product features are not approved for use in all states or through all broker-dealers. All buffers, terms, and indices may not be available with all index strategies. Please refer to the current rate sheet and prospectus for more information.
For complete product information, please reference the client brochure PDF opens in a new window, rate sheet opens in a new window, and product prospectus.
FlexGuard’s performance lock
Growth opportunities with added ability to lock in performance
The Performance Lock feature is an optional feature available on FlexGuard that allows clients to lock in gains or limit the potential for a loss prior to the Index Strategy end date. Click here PDF opens in a new window to learn more about how this feature works.
Performance Lock feature is available with the Pruco Life Insurance issuing company only.
Renewal Cap Rates, Step Rates, and Participation Rates may be higher or lower than the initial rates but will never be less than the Guaranteed Minimum Rates. Spreads may be higher or lower than the initial Spreads but will never be higher than the Guaranteed Maximum Spread. Tier Levels may be higher or lower than the initial Tier Level, but will never be higher than the Guaranteed Maximum Tier Level. Subsequent rates, Spreads, and Tier Levels may differ from the rates, Spreads, and Tier Levels used for new contracts or for other contracts issued at different times. Rates and Spreads are impacted by changes in various economic factors.
Choose clients’ downside protection
FlexGuard offers clients the opportunity to choose their buffer level as well as their term length.
Partial downside protection is provided through the buffer where index losses within the buffer are protected. Index losses that exceed the buffer will result in a loss of Account Value.
The buffer may vary by the selected strategy, term length, and index elected. Not all term and buffer options are available for each index crediting strategy.
Variable investment options are offered with this product; however, they are not included for illustration purposes and do not offer downside protection. Please refer to the product prospectus for fund investment strategies and fee information.
Index-linked variable annuity products are complex insurance and investment vehicles. There is risk of loss of principal if negative index returns exceed the selected protection level. As gains or losses are assessed at the end of each term, index credit is only received if the strategy is held full term, and no withdrawals are taken. Early withdrawals may result in a loss in addition to applicable surrender charges. Please refer to the prospectus for information about the levels of protection available and other important product information.
Determine how to allocate clients’ money
Choose from six indices
The client’s money is not actually invested in any index but may earn interest credits based on the index’s performance.
And select from variable investment options
FlexGuard also offers variable investment options which can be mixed and matched in any percentage.
Please note that when you allocate to an Index Strategy that is linked to the performance of an ETF you are not investing in the ETF. Index-based ETFs seek to track the investment results of a specific market index. Due to a variety of factors, including the fees and expenses associated with an ETF, an ETF’s performance may not fully replicate or may, in certain circumstances, diverge significantly from the performance of the underlying index. This potential divergence between the ETF and the specific market index is known as tracking error.
1 The rules for calculating the AB 500 Plus IndexSM include an annual 0.75% reduction, which accrues daily, meaning that a small portion of that reduction is included in the published Index Value each day. The reduction is included to aid in setting the cap and participation rates and/or buffer levels of the Index Strategy with which the Index is used. Please see the prospectus for additional details.
FlexGuard and all its features may not be approved in all states or with all broker-dealers.
Make changes as they go
On each Index Anniversary Date, you may reallocate any Index Strategy that has reached the end of the Index Term or allocate money into new Index Strategies. Allocations among variable investment options can happen at any time.
Renewal rate sheet to view all reallocation strategies opens in a new window
CDSC surrender charge schedule
B-Share 6 year: 8%, 8%, 7%, 6%, 5%, 4%, 0%; based on the effective date of each Purchase Payment and the percentage of the amount withdrawn from the Purchase Payment, above the free withdrawal amount.
Use our secure online experience to:
- Access FlexGuard illustrations
- Download marketing material
- Service existing Prudential clients
Or download our client-approved brochure PDF opens in a new window, product prospectus and rate sheet opens in a new window to share with clients and help educate them about FlexGuard.
See FlexGuard in action
This tool enables you to compare how various choices of index strategies, protection levels, and term lengths may perform in different market scenarios.
The individual index strategies displayed are based on historical performance and do not include subaccount performance. Before you use this tool, please refer to the detailed product information above.
See current rate sheet to view all strategy combinations opens in a new window
Want to use this tool with clients? Use the client-approved version instead
Hypothetical example for illustrative purposes. Assumes no withdrawals and that the account was held for the complete index strategy term. Past performance does not guarantee future results. Your actual results will vary. Investing in Prudential FlexGuard’s index strategies does not represent a direct investment in an index.
The content on this page is for financial professional use only.
FlexGuard and all product features are not approved for use in all states or through all broker-dealers.
Pennsylvania has approved Step Rate Plus BUT only with the 10% buffer—PA does not have access to 5% buffer options on SRP OR Tiered Participation Rate strategies.
IMPORTANT: The projections or other information generated by the digital modeling tool regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results.
Performance Disclosure
These results were calculated using annual historical index returns and current strategy rates as of the run date of the illustration, which we assumed did not change at any time during the time period illustrated.
This interactive illustration is hypothetical and based on the index crediting strategy selected. Index Strategy credits will fluctuate, and may be negative, so that the Account Value, when redeemed, may be worth more or less than the original purchase amount. If a withdrawal is taken from an Index Strategy during the term period, the Interim Value will apply; however it is not illustrated.
Variable investment options are offered with this product; however they are not included for illustration purposes. Please refer to the product prospectus for fund investment strategies and fee information.
The interactive illustration does not reflect the effect of income taxes, penalty taxes, and premium taxes. Withdrawals or surrenders may be subject to CDSC surrender schedule charges and Interim Value of the index strategies. If the variable investment options are elected, the contract is subject to mortality, expense, and administration charges of 1.30%, and any applicable underlying fund expenses. Withdrawals and distributions of taxable amounts are subject to ordinary income tax and, if made prior to age 59½, may be subject to an additional 10% federal income tax penalty, sometimes referred to as an additional income tax. Withdrawals reduce the account value and death benefits.
Methodology Disclosure
Down Market: A down market is to be considered any 1-year, 3-year, or 6-year term in which performance for the selected index/indices is negative. Time periods for S&P 500®, MSCI EAFE®, Invesco QQQ ETF, and iShares Russell® 2000 ETF were chosen based on their proximity to the average down market for each term. The average down market was calculated by excluding all terms with positive performance. In the absence of any negative performance for the term, we use the lowest trending performance, which would be positive. The down market illustrates the following:
S&P 500® price index returns: 1-year term period 01/01/2001 – 12/31/2001; 3-year term period 01/01/2007 – 12/31/2009; 6-year term period 01/01/2000 – 12/31/2005.
MSCI EAFE® price index returns: 1-year term period 01/01/2018 – 12/31/2018; 3-year term period 01/01/1999 – 12/31/2001; 6-year term period 01/01/2006 – 12/31/2011.
iShares Russell® 2000 ETF: 1-year term period 01/01/2018 – 12/31/2018; 3-year term period 01/01/2007 – 12/31/2009; 6-year term period 01/01/2007 – 12/31/2012.**
Invesco QQQ ETF: 1-year term period 01/01/2022 – 12/31/2022; 3-year term period 01/01/2001–12/31/2003; 6-year term period 01/01/2000–12/31/2005.
** Positive performance.
Dual Directional Index Strategy Down Market: A down market is to be considered any 1-year or 6-year term in which performance for the S&P 500® is negative. Time periods for S&P 500® were chosen based on their proximity to the available buffers (10%, 15%, 20%). Index Returns that are negative and within or equal to the buffer will be credited the Index Return as a positive value. Index Returns that are negative and exceed the buffer will be credited any negative return in excess of the buffer. The down market illustrates the following:
S&P 500® 6-year 10% Buffer: Less than or equal to the buffer term period 09/30/2005 – 09/30/2011; Greater than buffer term period 02/28/2003 – 02/28/2009.
S&P 500® 6-year 15% Buffer: Less than or equal to the buffer term period 02/28/2003 – 02/28/2009; Greater than buffer term period 12/31/1972 – 12/31/1978.
S&P 500® 6-year 20% Buffer: Less than or equal to the buffer term period 12/31/1999 – 12/31/2005; Greater than buffer term period 01/31/1969 – 01/31/1975.
S&P 500® 1-year 10% Buffer: Less than or equal to the buffer term period 03/31/2019 – 03/31/2020; Greater than buffer term period 06/30/2021 – 06/30/2022.
S&P 500® 1-year 15% Buffer: Less than or equal to the buffer term period 06/30/2021 – 06/30/2022; Greater than buffer term period 11/30/2001 – 11/30/2002.
** Positive performance.
Up Market: An up market is to be considered any 1-year, 3-year, or 6-year term in which performance for the selected index/indices is positive. Time periods for S&P 500®, MSCI EAFE®, Invesco QQQ ETF, and iShares® Russell 2000 ETF were chosen based on their proximity to the average up market for each term. The average up market was calculated by excluding all terms with negative performance. The up market illustrates the following:
S&P 500® price index returns: 1-year term period 01/01/2017 – 12/31/2017; 3-year term period 01/01/2013–12/31/2015; 6-year term period 01/01/2017 – 12/31/2022.
MSCI EAFE® price index returns: 1-year term period 01/01/2023–12/31/2023; 3-year term period 01/01/2012–12/31/2014; 6-year term period 01/01/2004–12/31/2009.
iShares® Russell 2000 ETF: 1-year term period 01/01/2006–12/31/2006; 3-year term period 01/01/2013 – 12/31/2015; 6-year term period 01/01/2008–12/31/2013.
Invesco QQQ ETF: 1-year term period 01/01/2024–12/31/2024; 3-year term period 01/01/2015–12/31/2017; 6-year term period 01/01/2017–12/31/2022.
1033463-15 1033463-00015-00
Key Terms
Application Signed Date – The date the application is signed. For applications transmitted through electronic order entry, the Application Signed Date is the e-signature date. In the absence of an e-signature date, the e-signature Application Signed Date would default to the submission date prior to the wet signature.
Account Value – The Interim Value for each Index Strategy plus the total value of any allocations in the Variable Investment Subaccounts (including the Holding Account) and the Transfer Account on any Valuation Day other than the Index Strategy Start Date and Index Strategy End Date. The Interim Value does not apply to an Index Strategy on the Index Strategy Start Date and the Index Strategy End Date. On an Index Strategy Start Date, the Index Strategy Base applicable to that Index Strategy would be used instead of the Interim Value. On an Index Strategy End Date, the Index Strategy Base plus the Index Credit applicable to that Index Strategy would be used instead of the Interim Value.
Buffer – The amount of protected negative Index Return applied to the Account Value allocated to an Index Strategy at the end of an Index Strategy Term. Any negative Index Return within the Buffer results in no reduction of the Account Value. Any negative Index Return in excess of the Buffer reduces the Account Value.
Cap Rate – The Cap Rate limits the amount of Index Credit that may be credited to the Index Strategy Base on any Index Strategy End Date when the Index Return is positive. A different Cap Rate may be declared for different Indices, Buffers, and Index Strategy Terms.
Death Benefit – Return-of-premium death benefit is available on all contracts for no additional charge. It is equal to the greater of: 1) Account Value: The money in the account at the time of death or 2) Purchase Payments: The total of the payments the client made since the issue date, reduced proportionally by any withdrawals.
Free Withdrawal Amount – The amount of money that can be withdrawn from the annuity each year during the surrender charge period, without incurring a surrender charge. This amount is equal to 10% of the purchase payments.
Holding Account – A Variable Subaccount the owner can allocate some or all of their initial purchase payments to. The Holding Account is also used for additional purchase payments received between Index Anniversaries.
Index (Indices) – The underlying Index or exchange traded fund associated with an Index Strategy and used to determine the Index Return in determining the Index Credit. You do not directly participate in an Index.
Index Anniversary Date – The same day, each calendar year, as the day of the initial allocation to an Index Strategy.
Index Credit – The amount the Owner receives on an Index Strategy End Date based on the Index Return and the Index Strategy. The Index Credit can be negative, meaning the Owner can lose principal and prior earnings.
Index Return – The percentage change in the Index Value from the Index Strategy Start Date to the Index Strategy End Date, which is used to determine the Index Credit for an Index Strategy. An Index Return is calculated by taking the Index Value on the Index Strategy End Date, minus the Index Value on the Index Strategy Start Date, and then dividing the result by the Index Value on the Index Strategy Start Date.
Index Strategy – Any index-linked Allocation Option we make available in the Annuity for crediting interest based on the underlying Index associated with the Index Strategy, Buffer, and Index Strategy Term. We may offer other Index Strategies from time to time, subject to our rules.
Index Strategy Base – The amount of Account Value allocated to an Index Strategy on an Index Strategy Start Date. The Index Strategy Base is used in the calculation of any Index Credit and in the calculation of the Interim Value. The Index Strategy Base is reduced for any transfers or withdrawals that occur between an Index Strategy Start Date and an Index Strategy End Date in the same proportion that the total withdrawal or transfer amount reduces the Interim Value.
Index Strategy End Date – The last day of an Index Strategy Term. This is the day any applicable Index Credit would be credited to the Index Strategy.
Index Strategy Start Date – The first day of an Index Strategy Term.
Index Strategy Term – The time period allocated to each Index Strategy. The term begins on the Index Strategy Start Date and ends on the Index Strategy End Date.
Interim Value – The value of an Index Strategy on any day during an Index Strategy Term. It is a calculated value and is used when a withdrawal, death benefit payment, transfer, annuitization, or surrender occurs during an Index Strategy Term. The interim value does not reflect the actual performance of the applicable index.
Owner – An eligible entity or person named as having ownership rights in relation to the annuity.
Participation Rate – The percentage of any Index increase that will be used in calculating the Index Credit at the end of an Index Strategy Term for the Tiered Participation Rate Index Strategy or the Step Rate Plus Index Strategy. A different Participation Rate may be declared for different Index Strategies and Buffers.
Performance Lock – A feature that allows clients to capture the Performance Lock Value. A Performance Lock Request may be submitted on any Valuation Day prior to the Index Strategy End Date. Only one Performance Lock may be active for any given Index Strategy during a respective Index Strategy Term. Performance Locks may not be applied retroactively and must be for the full amount of the Performance Lock Value. Partial “locking” of an Index Strategy is not permitted. Once “locked,” Index Credits will not apply on the Index Strategy End Date.
Performance Lock Date – The Valuation Date on which we process the Performance Lock transaction.
Performance Lock Request – Clients may request a Performance Lock by contacting us and providing In Good Order instructions. Instructions received In Good Order after the close of any Valuation Day will be applied on the next Valuation Day.
Performance Lock Value – The value of an Index Strategy at the end of any Valuation Day during an Index Strategy Term other than the Index Strategy Start Date and Index Strategy End Date. It is a calculated value that differs from the Interim Value Calculation (refer to the prospectus for additional information) and is used when a Performance Lock transaction occurs. The Performance Lock Value is calculated daily and, once “locked,” will not fluctuate for the remainder of the current Index Strategy Term, unless a withdrawal or a reallocation were to occur, and will be as of the Performance Lock Date.
Spread – On the Index Strategy End Date, the Spread reduces the value of positive Index Returns used in the calculation of Index Credits that may be applied to the Enhanced Cap Rate Index Strategy. The Spread percentage may vary by Index, Index Strategy Term, Cap Rate and Buffer.
Step Rate – The declared rate that may be credited to amounts allocated to the Step Rate Plus Index Strategy for any given Index Strategy Term if the Index Return is between zero and the declared Step Rate. A different Step Rate may be declared for different Indices.
Surrender Charge – A type of charge that may be deducted when a surrender or partial withdrawal from the annuity occurs that is greater than the Withdrawal Amount.
Tier Level – The declared Index Return that is used to determine which Participation Rate tier applies in the calculation of Index Credit for Tier Level 1 and Tier Level 2 in the Tiered Participation Rate Index Strategy.
Transfer Account – An account we make available for use with the allocation of the Initial Purchase Payment(s) and any Purchase Payments received within the Transfer Account Period. The Transfer Account is available for a period of time ending upon the expiration of the Transfer Account Period or the Index Effective Date, whichever occurs first. No interest accrues or is paid on funds in the Transfer Account. No charges are applicable on funds in the Transfer Account. Transfer Account assets are held in Pruco Life’s General Account.
Transfer Account Period – A time period beginning on the date the client’s application is signed and ending 45 calendar days later.
Variable Investment Option – A division of the Variable Separate Account.
FlexGuard indexed variable annuity at a glance
Basic Contract Design
Product Description | Registered Flexible Premium Deferred Index-Linked Variable Annuity with five Index Strategies featuring multiple protection levels and term lengths, plus five variable investment options |
|---|---|
Marketing Name | Prudential FlexGuard® indexed variable annuity |
Launch Date | May 18, 2020 |
Issue Ages | Up to age 85; based on the age of the oldest Owner/Annuitant |
Initial Purchase Payment | $25,000 Minimum Qualified and Nonqualified |
Additional Purchase Payments | Minimum of $100 ($50 for EFTs) – Additional Purchase Payments received between Index Anniversaries will be allocated to the Holding Account (unless the client provides instruction to allocate to any other variable investment options at that time). Any allocations to the Index Strategies must occur on an Index Anniversary. |
Contract Issue | This product will issue daily. The client will choose on the application if they wish to (1) allocate to the Index Strategies immediately, (2) defer their allocation for 45 days from the application signed date to accommodate multiple transfers and exchanges, or (3) elect to defer their allocation to a specified date. Alternatively, clients may allocate 100% of their initial Purchase Payment to the Variable Subaccounts. If the client chooses to defer their Index Effective Date, the allocations for the Index Strategies will be placed in the Transfer Account and will automatically be transferred to the Index Strategies, if within the Transfer Account Period. |
Contingent Deferred Sales Charge (CDSC) | The Contingent Deferred Sales Charge applies to each Purchase Payment and will be applied to amounts that exceed the Free Withdrawal Amount.
|
Free Withdrawals | Client(s) may withdraw up to 10% of all Purchase Payments still within CDSC without incurring a surrender charge.
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Account Value | The Interim Value for each Index Strategy plus the total value of any allocations in the Variable Investment Subaccounts (including the Holding Account) and the Transfer Account on any Valuation Day other than the Index Strategy Start Date and Index Strategy End Date. The Interim Value does not apply to an Index Strategy on the Index Strategy Start Date and the Index Strategy End Date. On an Index Strategy Start Date, the Index Strategy Base applicable to that Index Strategy would be used instead of the Interim Value. On an Index Strategy End Date, the Index Strategy Base plus the Index Credit applicable to that Index Strategy would be used instead of the Interim Value. |
Interim Value | The Interim Value is the value of an Index Strategy on any Valuation Day during an Index Strategy Term. It is a calculated value and is used when a withdrawal, death benefit payment, transfer, annuitization, or surrender occurs mid-term. |
Performance Lock Value | The value of an Index Strategy at the end of any Valuation Day during an Index Strategy Term other than the Index Strategy Start Date and Index Strategy End Date. It is a calculated value that differs from the Interim Value Calculation (refer to the prospectus for additional information) and is used when a Performance Lock transaction occurs. The Performance Lock Value is calculated daily and, once “locked,” will not fluctuate for the remainder of the current Index Strategy Term, unless a withdrawal or a reallocation were to occur, and will be as of the Performance Lock Date. |
Base Death Benefit | Return of Purchase Payments
|
Latest Annuity Date | First of the month following the 95th birthday of the oldest Owner/Annuitant |
Annuity Options | Annuity Payments for a Fixed Period Life Income |
Annual Fee | Not applicable |
Total Insurance Charge | Applicable to only Account Value allocated to the variable investment options (assessed daily as a percentage of the net assets of the variable investment options). The Insurance Charge is a combination of the Mortality & Expense Risk Charge and the Administration Charge.
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Product CUSIP | 74430U231 |
Index Strategies
Index Options | The customer will have the option to allocate their premium to one or more indices listed below:
|
Index Strategies | The customer will have the option to allocate to one, some, or all the Index Strategies listed below:
|
|---|---|
Protection Levels | Negative Index Return is protected from loss within the Buffer associated with the selected Index Strategy. |
Point-to-Point with Cap Rate | If the Index Return is positive and equal to or greater than the Cap Rate, then the Index Credit is equal to the Cap Rate. If the Index Return is positive, but less than the Cap Rate, the Index Credit is equal to the Index Return. |
| Enhanced Cap Rate | If the Index Return is positive and greater than or equal to the Cap Rate plus the Spread, the Index Credit is equal to the Cap Rate. If the Index Return is positive and greater than the Spread, but less than the Cap Rate plus the Spread, the Index Credit is equal to the Index Return minus the Spread. If the Index Return is greater than or equal to zero, and less than or equal to the Spread, the Index Credit is zero. The Spread does not apply when Index Return is zero or negative. If the Index Return is negative, but less than or equal to the Buffer, the Index Credit is zero. Otherwise, the Index Credit is equal to the negative Index Return in excess of the Buffer. |
Dual Directional | If the Index Return is positive and equal to or greater than the Cap Rate, then the Index Credit is equal to the Cap Rate. If the Index Return is positive, but less than the Cap Rate, the Index Credit is equal to the Index Return. If the Index Return is negative and is within or equal to the Buffer, then the Index Credit will be positive and equal to the same percentage of the negative Index Return, not limited by the Cap Rate. Otherwise, if the Index Return is negative and exceeds the Buffer, then the Index Credit is equal to the negative Index Return in excess of the Buffer. |
Tiered Participation Rate | If the Index Return is between zero and the declared Tier Level, then the Index Credit is equal to the Index Return multiplied by the Participation Rate for the 1st tier. If the Index Return is greater than or equal to the declared Tier Level, the Index Credit is the sum of the Tier Level Index Return multiplied by the Participation Rate for the 1st tier and the remaining Index Return multiplied by the Participation Rate for the 2nd tier. If the Index Return is negative, but less than or equal to the Buffer, the Index Credit is zero. |
Step Rate Plus | If the Index Return is between zero and the declared Step Rate, then the Index Credit is equal to the Step Rate. If the Index Return is greater than the Step Rate, the Index Credit is equal to the greater of the Index Return multiplied by the Participation Rate or the Step Rate. If the Index Return is negative, but less than or equal to the Buffer, the Index Credit is zero. Otherwise, the Index Credit is equal to the negative Index Return in excess of the Buffer. |
Performance Lock | Lock in performance prior to the Index Strategy End Date by either setting an automatic Performance Lock target, which will automatically lock in the Performance Lock Value as of close of business on the day the target is met, OR manually locking in the Performance Lock Value as of the current day’s close of business. After a Performance Lock has occurred funds remain allocated to the index strategy, but the client no longer participates in the index performance, both positive or negative, for the remainder of the existing index strategy term. The Performance Value will not fluctuate for the remainder of the existing index strategy term unless there is a withdrawal or reallocation. |
Reallocations | FlexGuard offers you the ability to allocate amongst the following Variable Investment options, in addition to the Index Strategies. Transfers from the Index Strategy(ies) to the Variable Subaccounts are not allowed at any time. However, transfers among Variable Subaccounts may occur at any time. |
New Money/Renewal Rates | Prudential reserves the right to change rates at any time.
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Variable investment options
Variable investment options | MFS® Value Series – Service Class MFS® International Growth Portfolio – Service Class MFS® Total Return Series – Service Class MFS® Total Return Bond Series – Service Class PSF PGIM Government Money Market Portfolio – Class III – default Holding Account |
Disclosure
Investors should carefully consider the features of the contract, index strategies, and the underlying portfolios’ investment objectives, policies, management, risks, charges, and expenses. This and other important information are contained in the initial summary prospectus and the index strategies prospectus for the contract and the summary prospectus or prospectus for the underlying portfolios (collectively, the “prospectuses”) which can be obtained on the prospectus page or by contacting the National Sales Desk. Clients should read the prospectuses carefully before investing.
It is possible to lose money by investing in securities.
Annuities are issued by Pruco Life Insurance Company, located in Newark, NJ (main office). Variable annuities are distributed by Prudential Annuities Distributors, Inc., Shelton, CT. Prudential Retirement Strategies is a business of Prudential Financial, Inc.
This web page is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any clients or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing a client’s retirement savings. Clients seeking information regarding their particular investment needs should contact a financial professional.
An investment in the PSF PGIM Government Money Market Portfolio is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. Although the Portfolio seeks to preserve the value of your investment at $10.00 per share, it is possible to lose money by investing in the Portfolio.
The Performance Lock Value, which is different than the Interim Value, is adjusted for any withdrawals or reallocations that occur prior to the Index Strategy End Date. Automatic Performance Lock targets must reflect positive growth in the Performance Lock Value. Performance Locks are as of close of business on the day the automatic target was met or the manual lock in is requested. Targets are not available for strategies with a 100% buffer option or the Step Rate Plus Crediting Strategy. Prudential will not provide advice or notify clients regarding whether they should exercise a Performance Lock or the optimal time for doing so. Prudential will not warn clients if they exercise a Performance Lock at a sub-optimal time. Prudential is not responsible for any losses related to decisions whether or not to exercise a Performance Lock.
If a Performance Lock is executed when the Performance Lock Value has declined, clients will lock in any loss. It is possible that clients would have realized less of a loss or no loss if the Performance Lock occurred at a later time, or if the Index Strategy was not “locked”. Clients will not receive Index Credit on any “locked” Index Strategy on the Index Strategy End Date. As a result, clients may receive less than the full Index Credit, or less than the full protection of the Buffer, than they would have received if they had waited for us to apply the Index Credit on the Index Strategy End Date. Refer to the prospectus for additional information.
The S&P 500® Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Pruco Life Insurance Company. Standard & Poor’s®, S&P®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Pruco Life Insurance Company. Pruco Life Insurance Company’s product(s) is not sponsored, endorsed, sold, or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s), nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.
It is not possible to invest directly in an index.
The iShares® Russell 2000 ETF is distributed by BlackRock Investments, LLC. iShares® and BlackRock®, and the corresponding logos, are registered trademarks of BlackRock, Inc. and its affiliates ("BlackRock") and are used under license. BlackRock has licensed certain trademarks and trade names of BlackRock to Pruco Life Insurance Company for certain purposes. Pruco Life Insurance Company's products and services are not sponsored, endorsed, sold, or promoted by BlackRock, and purchasers of such products do not acquire any interest in the iShares® Russell 2000 ETF nor enter into any relationship of any kind with BlackRock. BlackRock makes no representations or warranties, express or implied, to the owners of any products offered by Pruco Life Insurance Company or any member of the public regarding the advisability of purchasing any product or service offered by Pruco Life Insurance Company. BlackRock has no obligation or liability for any errors, omissions, interruptions, or use of the iShares® Russell 2000 ETF or any data related thereto, or in connection with the operation, marketing, trading, or sale of any Pruco Life Insurance Company product or service offered by Pruco Life Insurance Company.
All rights in the Russell® 2000 Index (the "Index") vest in the relevant LSE Group company, which owns the Index. Russell® 2000 is a trademark of the relevant LSE Group company and is used by any other LSE Group company under license.
The Index is calculated by or on behalf of Frank Russell Company or its affiliate, agent, or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of Prudential FlexGuard®. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from Prudential FlexGuard® or the suitability of the Index for the purpose to which it is being put by Pruco Life Insurance Company.
Invesco Capital Management LLC ("ICM") serves as sponsor of Invesco QQQ TrustSM, Series 1 ("Invesco QQQ ETF") and Invesco Distributors, Inc. ("IDI"), an affiliate of ICM serves as distributor for Invesco QQQ ETF. The mark "Invesco" is the property of Invesco Holding Company Limited and is used under license. That trademark and the ability to offer a product based on Invesco QQQ ETF have been licensed for certain purposes by Pruco Life Insurance Company and its wholly owned subsidiaries and affiliates (collectively, "Prudential"). Products offered by Prudential are not sponsored, endorsed, sold, or promoted by ICM or Invesco Holding Company Limited, and purchasers of such products do not acquire any interest in Invesco QQQ ETF nor enter into any relationship with ICM or its affiliates. ICM makes no representations or warranties, express or implied, to the owners of any products offered by Prudential. ICM has no obligation or liability for any errors, omissions, interruptions, or use of Invesco QQQ ETF or any data related thereto, or with the operation, marketing, trading, or sale of any products or services offered by Prudential.
Nasdaq®, Nasdaq-100®, Nasdaq-100 Index®, and QQQ® are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use for certain purposes by Pruco Life Insurance Company and its wholly owned subsidiaries and affiliates (collectively, "Prudential"). Prudential FlexGuard® ("Product") has not been passed on by the Corporations as to its legality or suitability. The Product is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).
MSCI EAFE Index: The annuity contract referred to herein is not sponsored, promoted or endorsed by MSCI, and MSCI bears no liability with respect to any such annuity contract or any index referred to by any such annuity contract. The product prospectus contains a more detailed description of the limited relationship MSCI has with Pruco Life Insurance Company and any related annuity contracts.
AB 500 Plus IndexSM is a mark owned by AllianceBernstein L.P. (“AB”), and has been licensed to Pruco Life Insurance Company (“Licensee”). The Prudential FlexGuard® indexed variable annuity to which this disclosure applies (the “Product”) has been developed solely by Licensee. The Product is not sponsored, endorsed, or promoted by AB, and AB bears no liability with respect to the Product or any index on which such Product is based. AB does not provide investment advice to the Product or Licensee, and in no event shall any contract owner of the Product be deemed to be a client of AB. The prospectus contains a more detailed description of the limited relationship AB has with Licensee and any related product.
The rules for computing the Index value include an annual 0.75% reduction. The published Index value is inclusive of this reduction.
The Dimensional International Equity Focus Index (the “Index”) is sponsored and published by Dimensional Fund Advisors LP (“Dimensional”). References to Dimensional include its respective directors, officers, employees, representatives, delegates, or agents. The use of “Dimensional” in the name of the Index and the related stylized mark(s) are service marks of Dimensional and have been licensed for use by Pruco Life Insurance Company (“PRUCO”). PRUCO has entered into a license agreement with Dimensional providing for the right to use the Index and related trademarks in connection with the FlexGuard indexed variable annuity (the “Financial Product”). The Financial Product is not sponsored, endorsed, sold, or promoted by Dimensional, and Dimensional makes no representation regarding the advisability of the purchase of such Financial Product. Dimensional has no responsibilities, obligations or duties to purchasers of the Financial Product, nor does Dimensional make any express or implied warranties, including, but not limited to, any warranties of merchantability or fitness for a particular purpose or use with respect to the Index. Dimensional does not guarantee the accuracy, timeliness, or completeness of the Index, or any data included therein or the calculation thereof or any communications with respect thereto. Dimensional has no liability for any errors, omissions, or interruptions of the Index or in connection with its use. In no event shall Dimensional have any liability of whatever nature for any losses, damages, costs, claims, and expenses (including any special, punitive, direct, indirect, or consequential damages including lost profits) arising out of matters relating to the use of the Index, even if notified of the possibility of such damages. Dimensional has provided PRUCO with all material information related to the Index methodology and the maintenance, operation, and calculation of the Index. Dimensional makes no representation with respect to the completeness of information related to the Index provided by PRUCO in connection with the offer or sale of any Financial Product. Dimensional has not published or approved this document, nor does Dimensional accept any responsibility for its contents or use.
All guarantees, including benefit payment obligations, index strategy crediting, or annuity payout rates, are backed by the issuing company’s claims-paying ability and do not apply to the underlying variable investment options.
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