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Actions Prudential FlexGuard indexed variable annuity A Retirement Strategy as Individual as You Are
FlexGuard is a retirement product that you and your financial professional can customize based on your unique needs. Unlike some annuities which offer little choice, FlexGuard offers you the opportunity to select from many options. It's like building your own annuity.
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Important Information on our Issuing Companies
FlexGuard indexed variable annuity contracts can only be issued by either Pruco Life Insurance Company or Prudential Annuities Life Assurance Corporation (except in NY).
Please click below to determine which company is currently offering FlexGuard indexed variable annuity in your state. Work together with your financial professional to ensure proper completion of all the applicable forms.
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Actions See How FlexGuard Can Help You Create a Customized Strategy to Protect and Grow Your Money
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Actions FlexGuard index strategies help you:
Protect
Protect
Select a level of protection that may help limit losses
Grow
Grow
Participate in the growth potential of the market
Accelerate
Accelerate
Enhance growth potential in up markets with two unique crediting strategies
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Actions Plus, there are NO EXPLICIT PRODUCT FEES when allocating to FlexGuard’s index strategies.*
*Variable investment options do not have protection levels available and are subject to contract and administrative fees.
Surrender charges and underlying fund expenses may apply in the event of an early withdrawal.
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Actions Point-to-Point with Cap Rate Index Strategy
With FlexGuard’s Point-to-Point with Cap Rate index strategy, you receive any positive index growth up to an upper limit (called a “cap”).
Tiered Participation Rate Index Strategy
Unique to Prudential, FlexGuard’s Tiered Participation Rate index strategy offers 100% of the positive index growth up to the tier level, and then the opportunity to accelerate your growth by capturing a percentage MORE than 100% of the index growth above that level.
Step Rate Plus Index Strategy
Index underperforms the Step Rate:
If the index return is between 0 and the Step Rate, you will receive that Step Rate.
Index outperforms the Step Rate:
You would receive a percentage of the total index return OR the Step Rate, whichever is greater.
For illustrative purposes only. Strategy terms, rates, and buffers are subject to change and are not guaranteed. Not intended to predict index or strategy performance. Subsequent Cap and Participation Rates may be higher or lower than the initial Rates, but will never be less than the Guaranteed Minimum Rates. Subsequent Rates may differ from the Rates used for new contracts or for other contracts issued at different times.
Investing in Prudential FlexGuard’s index strategies does not represent a direct investment in an index.
Variable investment options are offered with this product; however, they are not included for illustration purposes.
For complete product information, including fund investment strategies and fee information, please reference the client brochure PDF opens in new window, rate sheet Opens in New Window, and product prospectus. opens in new window
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Choose your level of downside protection
FlexGuard offers you the opportunity to choose your buffer level as well as your 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 will vary by the selected strategy, term length, and index elected. Not all term and buffer options are available for each index crediting strategy.
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Actions 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. Gains or losses are assessed at the end of each term. Early withdrawals may result in a loss in addition to applicable surrender charges. Please reference the prospectus for information about the levels of protection available and other important product information.
Variable investment options do not offer downside protection.
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Determine how to allocate your money
See product specifications for more information on funds and fees associated Opens in New Window
Choose from four well-known indices
Your money is not actually invested in any index, but may earn interest credits based on the index’s performance.
- S&P 500® – A leading gauge of the U.S. equities market – the Standard & Poor’s 500 Index includes 500 of the largest companies on the New York Stock Exchange and NASDAQ.
- iShares Russell® 2000 ETF – The iShares Russell® 2000 ETF seeks to track the investment results of the Russell® 2000 Index, an index composed of small-capitalization U.S. equities. The Russell® 2000 Index measures the performance of the small capitalization sector of the U.S. equity market, as defined by FTSE Russell.
- Invesco QQQ ETF – Invesco QQQ ETF is an exchange-traded fund that seeks to track investment results of the Nasdaq-100 Index®. The Index includes the 100 largest non-financial companies listed on the Nasdaq® based on market cap.
- MSCI EAFE – The MSCI EAFE is designed to measure the performance of a selection of stocks in 21 developed markets outside of the U.S. and Canada. The oldest international stock index, it is the most common benchmark in the U.S. for foreign stock funds.
And select from variable investment options
FlexGuard also offers variable investment options which can be mixed and matched in any percentage.
CDSC Surrender Charge Schedule
B-Share 6 year: 7%, 7%, 6%, 5%, 4%, 3%; 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.
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Actions 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.
FlexGuard and all its features may not be approved in all states or with all broker-dealers.
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Actions Make changes as you 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 to the Variable Subaccounts can be done at any time.
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Actions See FlexGuard in Action
This tool enables you to compare how various choices of index strategies, protection
levels, and term lengths may impact your outcomes.
The individual index strategies displayed are based on historical performance and do not include subaccount
performance. Refer to the rest of the website for detailed product information that may help in your use of the tool.
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Actions 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. When investing in FlexGuard, it is not possible to invest directly in an index.
Please speak with a financial professional for a full illustration.
The FlexGuard product and all of its features are not approved in all states or through all broker dealers.
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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 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 contingent deferred sales 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 01/01/2007 – 12/31/2009; 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 01/01/2001 – 12/31/2001.
** 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 01/01/2020 – 12/31/2020; 3-year term period 01/01/2017 – 12/31/2019; 6-year term period 01/01/2014 – 12/31/2019.
MSCI EAFE® price index returns: 1-year term period 01/01/2004 – 12/31/2004; 3-year term period 01/01/2012 – 12/31/2014; 6-year term period 01/01/2003 – 12/31/2008.
iShares Russell® 2000 ETF: 1-year term period 01/01/2020 – 12/31/2020; 3-year term period 01/01/2013 – 12/31/2015; 6-year term period 01/01/2002 – 12/31/2007.
Invesco QQQ ETF: 1-year term period 01/01/2010 – 12/31/2010.
For Compliance Use Only:1033463-1
1033463-00008-00
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Key Terms
- Account Value – The Interim Value for each Index Strategy plus the total value of any allocations in the Variable investment options on any Valuation Day. The Interim Value does not apply to Index Strategies on the Index Strategy Start Date and the Index Strategy End Date where Account Value will equal the Index Strategy Base plus any allocations in the Variable investment options.
- 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 in excess of the Buffer reduces the Account Value.
- Cap Rate – For the Point-to-Point with Cap Rate Index Strategy the maximum rate percentage that can be credited at the end of an index term; the Cap Rate is set prior to the start of each index term. A different Cap Rate may be declared for different indices and different 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.
- 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 and Index Strategy Start Date and 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.
- 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.
- Variable Investment Option – A division of the Variable Separate Account.
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Actions Talk to Your Financial Professional About Adding a
Variable Annuity to Your Retirement Income Strategy.
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Actions Footnotes
Investors should consider the features of the contract, index strategies, and the underlying portfolios' investment objectives, policies, management, risks, charges and expenses carefully before investing. This and other important information is contained in the prospectus, which can be obtained on the prospectus page or from your financial professional. Please read the prospectus carefully before investing.
Annuities are issued by Pruco Life Insurance Company located in Newark, NJ (main office) or by Prudential Annuities Life Assurance Corporation (except in NY) located in Shelton, CT. (main office). Both are Prudential Financial companies and each is solely responsible for its own financial condition and contractual obligations. Prudential Annuities is a business of Prudential Financial, Inc.
Variable annuities are distributed by Prudential Annuities Distributors Inc., Shelton, CT.
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 client or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. If you would like information about your particular investment needs, please contact a financial professional.
A variable annuity is a long-term investment designed for retirement purposes. Investment returns and the principal value of an investment will fluctuate so that an investor’s units, when redeemed, may be worth more or less than the original investment.
Withdrawals or surrenders may be subject to contingent deferred sales 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.
The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("SPDJI"), and has been licensed for use by Prudential Annuities Life Assurance Corporation and 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 Prudential Annuities Life Assurance Corporation and Pruco Life Insurance Company. Prudential Annuities Life Assurance Corporation and Pruco Life Insurance Company's Products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, 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.
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 Prudential Annuities Life Assurance Corporation and Pruco Life Insurance Company for certain purposes. Prudential Annuities Life Assurance Corporation and 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 Prudential Annuities Life Assurance Corporation and Pruco Life Insurance Company or any member of the public regarding the advisability of purchasing any product or service offered by Prudential Annuities Life Assurance Corporation or 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 Prudential Annuities Life Assurance Corporation and Pruco Life Insurance Company product or service offered by Prudential Annuities Life Assurance Corporation and 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 Prudential Annuities Life Assurance Corporation or 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 Prudential Annuities Life Assurance Corporation and 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 Prudential Annuities Life Assurance Corporation and 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 their 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).
It is not possible to invest directly in an index.
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 Prudential Annuities Life Assurance Corporation and Pruco Life Insurance Company and any related annuity contracts.
Annuity contracts contain exclusions, limitations, reductions of benefits, and terms for keeping them in force. Your licensed financial professional can provide you with complete details.
All guarantees including the benefit payment obligations arising under the annuity contract guarantees, any index strategy crediting, or annuity payout rates are backed by the claims-paying ability of the issuing company, and do not apply to the underlying variable investment options. Those payments and the responsibility to make them are not the obligations of the third-party broker-dealer from which this annuity is purchased or any of its affiliates.
FlexGuard and all product features are not approved for use in all states or through all broker-dealers
Prudential Annuities and its distributors and representatives do not provide tax, accounting, or legal advice. Please consult your own attorney or accountant.
Issued on the following contracts with Prudential Annuities Life Assurance Corporation:
Contracts: RILA/IND(5/21) (or state variation thereof). In Idaho, Issued on Contract: RILA/IND(5/21)-ID.
Rider: RID-RILA-ROP(11/19) (or state variation thereof).
Endorsements END-RILA-P2P(9/20), END-RILA-TPAR(9/20) and END-RILA-SRP(9/20) (or state variation thereof).
Issued on the following contracts with Pruco Life Insurance Company:
Contracts: P-RILA/IND(10/21), issued in ID P-RILA/IND(10/21)-ID
Rider: P-RID-RILA-ROP(10/21) (or state variation thereof)
Endorsements: P-END-RILA-MRS(10/21),P-END-RILA-P2P(10/21),P-END-RILA-TPAR(10/21) and P-END-RILA-SRP(10/21)(or state variation thereof)
1036017-11
1036017-00011-00
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