PRUCO LIFE INSURANCE COMPANY
Supplement dated April 26, 2024,
to
Index Strategies Prospectuses dated May 1, 2023,
for
Prudential FlexGuard® Life IVUL Contracts
This supplement updates and amends certain information contained in the current prospectus of the Index Strategies available with your variable universal life insurance Contract, as well as any subsequent supplements thereto. You should read this supplement carefully and retain it for future reference.
The interim value example beginning on page 14 is hereby modified and expanded to include the value of the Segments at maturity (12 months from start date) for comparative purposes. The tables and preceding paragraph are replaced with the following.
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The following hypothetical example assumes no deductions from the Segments and also uses one day market data for calculating the fair value and the option value during the start of the Segment and at 9 months into the Segment. Years (12 months) are assumed to have 365 days.
| | | | | | | | | | | |
| Net Premium Payment: $150,000 | | |
| Allocated to: | | | |
| 34% 1-Year Capped with Floor | $51,000 | Index Growth Cap | Participation Rate |
| 7% | 100% |
| 33% 1-Year Capped with Buffer | $49,500 | Index Growth Cap | Participation Rate |
| 20% | 100% |
| 33% 1-Year Step Rate Plus with Buffer | $49,500 | Step Rate | Participation Rate |
| 6% | 90% |
On the Index Strategy Segment Start Date
| | | | | | | | | | | |
| Index Strategy | Capped With Floor | Capped With Buffer | Step Rate Plus
With Buffer |
| Index Strategy Segment Duration (in months) | 12 | 12 | 12 |
| Months elapsed since Index Strategy Start Date | 0 | 0 | 0 |
| Index Strategy Segment Base | $51,000 | $49,500 | $49,500 |
| Buffer | N/A | 10% | 10% |
| Starting Index Value | 1,000 | 1,000 | 1,000 |
| Total Contract Fund | $51,000 | $49,500 | $49,500 |
Index Return Is Negative — Value At 9 Months
| | | | | | | | | | | |
| Index Strategy | Capped With Floor | Capped With Buffer | Step Rate Plus
With Buffer |
| Months Elapsed since Index Strategy Segment Start Date | 9 | 9 | 9 |
| Months Remaining in Index Strategy Segment Duration | 3 | 3 | 3 |
| Index Value on Calculation Date | 800 | 800 | 800 |
| Index Return on Calculation Date | -20% | -20% | -20% |
| 1. Fair Value of Index Strategy Segment Base | N/A | $49,305.73 | $49,231.42 |
| 2. Options Value | N/A | -$5,085.95 | -$5,085.43 |
| Interim Value for each Index Strategy Segment (1+2) | N/A | $44,219.78 | $44,145.99 |
| Total Contract Fund | $51,000 | $44,219.78 | $44,145.99 |
Index Return Is Negative — Value At Segment Maturity
| | | | | | | | | | | |
| Index Strategy | Capped With Floor | Capped With Buffer | Step Rate Plus
With Buffer |
| Months Elapsed since Index Strategy Segment Start Date | 12 | 12 | 12 |
| Months Remaining in Index Strategy Segment Duration | 0 | 0 | 0 |
| Index Value on Calculation Date | 800 | 800 | 800 |
| Index Return on Calculation Date | -20% | -20% | -20% |
| Percentage of Index Interest | 0% | -10% | -10% |
| Index Interest | $0 | $-4,950 | $-4,950 |
| Total Contract Fund | $51,000 | $44,550 | $44,550 |
Index Return Is Positive — Value At 9 Months
| | | | | | | | | | | |
| Index Strategy | Capped With Floor | Capped With Buffer | Step Rate Plus
With Buffer |
| Months Elapsed since Index Strategy Segment Start Date | 9 | 9 | 9 |
| Months Remaining in Index Strategy Segment Duration | 3 | 3 | 3 |
| Index Value on Calculation Date | 1,200 | 1,200 | 1,200 |
| Index Return on Calculation Date | 20% | 20% | 20% |
| 1. Fair Value of Index Strategy Segment Base | N/A | $49,305.73 | $49,231.42 |
| 2. Options Value | N/A | $7,919.55 | $9,001.78 |
| Interim Value for Each Index Strategy Segment (1+2) | N/A | $57,225.28 | $58,233.20 |
| Total Contract Fund | $51,000 | $57,225.28 | $58,233.20 |
Index Return Is Positive — Value At Segment Maturity
| | | | | | | | | | | |
| Index Strategy | Capped With Floor | Capped With Buffer | Step Rate Plus
With Buffer |
| Months Elapsed since Index Strategy Segment Start Date | 12 | 12 | 12 |
| Months Remaining in Index Strategy Segment Duration | 0 | 0 | 0 |
| Index Value on Calculation Date | 1,200 | 1,200 | 1,200 |
| Index Return on Calculation Date | 20% | 20% | 20% |
| Percentage of Index Interest | 7% | 20% | 18% |
| Index Interest | $3,570 | $9,900 | $8,910 |
| Total Contract Fund | $54,570 | $59,400 | $58,410 |
PLEASE RETAIN THIS SUPPLEMENT WITH YOUR PROSPECTUS
