Pruco Life Flexible Premium Variable Annuity Account
04/22/2026 | Press release | Distributed by Public on 04/22/2026 15:06
Updating Summary Prospectus (Form 497VPU)
PRUCO LIFE INSURANCE COMPANY
Pruco Life Flexible Premium Variable Annuity Account
A Prudential Financial Company
751 Broad Street, Newark, NJ 07102-3777
PRUDENTIAL PREMIER RETIREMENT VARIABLE ANNUITY
(Applicable to contracts with applications signed from 03/15/2010 - 02/24/2013)
Flexible Premium Deferred Annuities
Updating Summary Prospectus
May 1, 2026
You should read this Updating Summary Prospectus carefully, particularly the section titled "Important Information You Should Consider About the Annuity".
An updated statutory prospectus for the Premier Retirement Variable Annuity Contract is currently available online, which contains more information about the Annuity, including its features, benefits, investment options, and risks. You can find the statutory prospectus and other information about the contract online at www.prudential.com/regdocs/PLAZ-JONESv2.0-STAT. You can also obtain this information at no cost by calling 1-888-PRU-2888 or by sending an email request to [email protected].
The statutory prospectus describes all the investment options, features, and benefits that we make available under the Annuity. The availability of investment options, features and benefits described in the statutory prospectus may vary depending on the broker-dealer through which the Contract is sold("financial intermediary variations"). We have identified all such financial intermediary variations that are known or reasonably available to us. Financial intermediary variations may be imposed by some broker-dealers without our knowledge. For example, your Financial Professional may not recommend a particular investment option or benefit to you because of a decision by the Financial Professional's broker-dealer not to offer that investment option or benefit to its customers. Taking into consideration the breadth of our distribution network, we are unable to obtain information about all financial intermediary variations without unreasonable effort or expense. You should discuss with your Financial Professional any limitations, restrictions, or other variations related to the investment options, benefits or other features available to you through your Financial Professional.
This Updating Summary Prospectus incorporates by reference the Prudential Premier Retirement statutory prospectus and Statement of Additional Information (SAI), both dated May 1, 2026, as amended or supplemented. The SAI may be obtained, free of charge, in the same manner as the prospectus.
Additional information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission's staff and is available at www.Investor.gov.
The Securities and Exchange Commission has not approved or disapproved these securities or passed upon the adequacy of this Updating Summary Prospectus. Any representation to the contrary is a criminal offense.
PPRTB20DPROS-USP
Table of Contents
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Glossary of Terms........................................................................................... |
1 |
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Updated Information About Your Contract.......................................................................... |
2 |
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Important Information You Should Consider About the Annuity........................................................... |
3 |
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Appendix A - Investment Options Available Under the Contract........................................................... |
8 |
GLOSSARY OF TERMS
We set forth here definitions of some of the key terms used throughout this Prospectus. In addition to the definitions here, we also define certain terms in the section of the Prospectus that uses such terms.
Account Value: The total value of all allocations to the Variable Options and the DCA Market Value Adjustment Options on any Valuation Day. The Account Value is determined separately for each Variable Option and for each DCA Market Value Adjustment Option, and then totaled to determine the Account Value for your entire Annuity. The Account Value of each DCA Market Value Adjustment Option will be calculated using any applicable Market Value Adjustment.
Annuity Date: The date on which we apply your Unadjusted Account Value to the applicable annuity option and begin the Payout Period. As discussed in the "Annuity Period" section, there is an age by which you must begin receiving annuity payments, which we call the "Latest Annuity Date."
Annuity Year: The first Annuity Year begins on the Issue Date and continues through and includes the day immediately preceding the first anniversary of the Issue Date. Subsequent Annuity Years begin on the anniversary of the Issue Date and continue through and include the day immediately preceding the next anniversary of the Issue Date.
Dollar Cost Averaging ("DCA") Market Value Adjustment Option: An Investment Option that offers a fixed rate of interest for a specified period. The DCA Market Value Adjustment Option is used only with our 6 or 12 Month Dollar Cost Averaging Program, under which the Purchase Payments that you have allocated to that DCA Market Value Adjustment Option are transferred to the designated Variable Options over a 6 month or 12 month period. Withdrawals or transfers from the DCA Market Value Adjustment Option generally will be subject to a Market Value Adjustment if made other than pursuant to the 6 or 12 Month DCA Program.
Investment Option: A Variable Option or DCA Market Value Adjustment Option available as of any given time to which Account Value may be allocated.
Issue Date: The effective date of your Annuity.
Market Value Adjustment: A positive or negative adjustment used to determine the Account Value of a DCA Market Value Adjustment Option.
Owner: The Owner is either an eligible entity or individual named as having ownership rights in relation to the Annuity.
Payout Period: The period starting on the Annuity Date and during which annuity payments are made.
Portfolio: An underlying mutual fund in which a Variable Option of the Registered Separate Account invests.
Premium Based Charge: A charge that is deducted on each Quarterly Annuity Anniversary from your Account Value, during the first seven years after each Purchase Payment is made.
Purchase Payment: A cash consideration (a "premium") in currency of the United States of America given to us in exchange for the rights, privileges, and benefits of the Annuity.
Quarterly Annuity Anniversary: Each successive three-month anniversary of the Issue Date of the Annuity.
Registered Separate Account: Pruco Life Insurance Company Flexible Premium Variable Annuity Account, which holds the assets supporting the Variable Option(s). Assets held in the Registered Separate Account are kept separate from all of our other assets and may not be charged with liabilities arising out of any other business we may conduct.
Unadjusted Account Value: The Unadjusted Account Value is equal to the Account Value prior to the application of any Market Value Adjustment.
Unit: A share of participation in a Variable Option used to calculate your Account Value prior to the Annuity Date.
Valuation Day: Every day the New York Stock Exchange is open for trading or any other day the Securities and Exchange Commission requires mutual funds or unit investment trusts to be valued, not including any day: (1) trading on the NYSE is restricted; (2) an emergency, as determined by the SEC, exists making redemption or valuation of securities held in the Separate Account impractical; or (3) the SEC, by order, permits the suspension or postponement for the protection of security holders.
Variable Option: A division of the Registered Separate Account. The Variable Option also may be referred to in this prospectus and the Contract as a Variable Investment Sub-account, Variable Sub-account, or Sub-account.
we, us, our, the Company: Pruco Life Insurance Company.
you, your: The Owner(s) shown in the Contract.
May 1, 2026Updating Summary Prospectus 1
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UPDATED INFORMATION ABOUT YOUR CONTRACT
There have been no changes to Contract features since the date of the last statutory prospectus, May 1, 2025.
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Important Information You Should Consider About The Contract |
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Fees, Expenses, and Adjustments |
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Are there Charges or Adjustments for Early Withdrawals? |
Yes. |
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Are there Transaction Charges? |
Yes. |
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Important Information You Should Consider About The Contract |
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Fees, Expenses, and Adjustments |
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Are there Ongoing Fees and Expenses? |
Yes. |
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Annual Fee |
Minimum |
Maximum |
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Base Contract Fees1 |
1.000% |
1.584% |
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Portfolio Company fees and expenses |
0.28%* |
1.18%* |
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Optional benefits available for an additional charge |
0.95%2 |
1.10%3 |
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*Charge based on average daily net assets allocated to the Variable Options. Please refer to the "Charges and Adjustments" section and "Appendix A" of the statutory prospectus for more information. |
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Because your Contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay each year, based on current charges. |
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Lowest Annual Cost |
Highest Annual Cost |
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Assumes:
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Assumes:
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For more information on ongoing fees and expenses, please refer to the "Fee Table" and "Charges and Adjustments" sections of the statutory prospectus. |
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May 1, 2026Updating Summary Prospectus 4
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Risks |
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Is there a Risk of Loss from Poor Performance? |
Yes. |
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Is this a Short-Term Investment? |
No. |
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What are the Risks Associated with the Investment Options? |
An investment in the Contract is subject to the risk of poor investment performance and can vary depending on the performance of the Investment Options you select. Each of the Investment Options available under the Contract, including the Variable Options and the Market Value Adjustment options, has its own unique risks. You should review the Investment Options before making an investment decision. The Market Value Adjustment options may be subject to a Market Value Adjustment, which can be negative, causing you to lose money. |
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What are the Risks Related to the Insurance Company? |
An investment in the Contract is subject to the risks related to the Company. Any obligations (including under any fixed allocation), guarantees, or benefits are subject to the claims-paying ability of the Company. More information about the Company, including its financial strength ratings, is available upon request. Such requests can be made toll-free at 1-888-PRU-2888. |
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Restrictions |
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Are there Restrictions on the Investment Options? |
Yes.
We reserve the right to:
Certain Investment Options may not be available through certain financial intermediaries. See the Cover Page of the statutory prospectus for additional information. |
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Are there any Restrictions on Contract Benefits? |
Yes.
Certain Contract Benefits may not be available through certain financial intermediaries. See the Cover Page of the statutory prospectus for additional information. |
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Taxes |
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What are the Contract's Tax Implications? |
You should consult with a tax professional to determine the tax implications of an investment in and payments received under the Contract. There is no additional tax benefit if you purchase the Contract through a tax-qualified plan or individual retirement account (IRA). Withdrawals will be subject to ordinary income tax, and may be subject to a 10% additional tax for distributions taken prior to age 59½. |
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Conflicts of Interest |
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How are Investment Professionals Compensated? |
Investment professionals may receive compensation for selling the Contract to investors and may have a financial incentive to offer or recommend the Contract over another investment. This compensation is paid in the form of commissions, based on your investments in the Contract. |
May 1, 2026Updating Summary Prospectus 6
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Should I Exchange My Contract? |
Some investment professionals may have a financial incentive to offer you a new Contract in place of the one you already own. You should only exchange your contract if you determine after comparing the features, fees, and risks of both contracts, and any fees or penalties to terminate the existing Contract, that it is preferable to purchase the new contract, rather than continue to own your existing contract. This Annuity is no longer sold. |
May 1, 2026Updating Summary Prospectus 7
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APPENDIX A - INVESTMENT OPTIONS AVAILABLE UNDER THE CONTRACT
Certain Investment Options may not be available through certain financial intermediaries. See the Cover Page of the statutory prospectus for additional information.
Variable Options
The following is the list of Portfolios available under the Contract. More information about the Portfolios is available in the prospectuses for the Portfolios, which may be amended from time to time and can be found online at www.prudential.com/regdocs/PLAZ-JONESv2.0-STAT. You can also request this information at no cost by calling 1-800-346-3778 or by sending an email to [email protected]. Depending on the optional benefits you choose, you may not be able to invest in certain Portfolio Companies.
The current expenses and performance information below reflects fee and expenses of the Portfolio, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher, and performance would be lower if these other charges were included. The Portfolio's past performance is not necessarily an indication of future performance.
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Fund Type |
Portfolio Company and Advisor/Subadvisor |
Current |
Average Annual Total Returns |
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1 Year |
5 Year |
10 Year |
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Allocation |
AST Aggressive Asset Allocation Portfolio1,♦ |
0.86% |
16.17% |
8.81% |
9.59% |
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Allocation |
AST Balanced Asset Allocation Portfolio1,♦ |
0.87% |
14.35% |
6.96% |
8.05% |
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Fixed Income |
AST Core Fixed Income Portfolio1 |
0.68% |
7.15% |
-1.10% |
2.30% |
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Fixed Income |
AST Government Money Market Portfolio1 |
0.58% |
3.78% |
2.86% |
1.78% |
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Equity |
AST International Equity Portfolio1 |
1.02% |
32.84% |
5.76% |
10.00% |
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Fixed Income |
AST Investment Grade Bond Portfolio1,2,♦ |
0.69% |
8.57% |
-0.12% |
3.39% |
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Allocation |
AST J.P. Morgan Aggressive Multi-Asset Portfolio1,♦ |
0.96% |
14.03% |
7.43% |
9.06% |
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Allocation |
AST J.P. Morgan Conservative Multi-Asset Portfolio1,♦ |
0.92% |
10.37% |
3.31% |
5.19% |
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Allocation |
AST J.P. Morgan Moderate Multi-Asset Portfolio1,♦ |
0.97% |
12.53% |
5.61% |
7.30% |
May 1, 2026Updating Summary Prospectus 8
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Fund Type |
Portfolio Company and Advisor/Subadvisor |
Current |
Average Annual Total Returns |
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1 Year |
5 Year |
10 Year |
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Equity |
AST Large-Cap Equity Portfolio1 |
0.84% |
14.88% |
13.25% |
12.47% |
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Equity |
AST Large-Cap Growth Portfolio1 |
0.87% |
17.06% |
11.35% |
16.27% |
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Equity |
AST Large-Cap Value Portfolio1 |
0.81% |
16.05% |
12.97% |
11.35% |
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Allocation |
AST Multi-Asset Diversified Plus Portfolio1,♦ |
1.13% |
13.55% |
5.58% |
5.73% |
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Allocation |
AST Multi-Asset Diversified Portfolio1,♦ |
0.90% |
15.55% |
6.86% |
8.28% |
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Allocation |
AST PGIM Aggressive Multi-Asset Portfolio1 |
0.90% |
16.00% |
8.22% |
8.26% |
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Allocation |
AST Preservation Asset Allocation Portfolio1,♦ |
0.89% |
11.33% |
3.76% |
5.45% |
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Equity |
AST Small-Cap Equity Portfolio1 |
1.01% |
7.41% |
1.81% |
10.39% |
May 1, 2026Updating Summary Prospectus 9
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Fund Type |
Portfolio Company and Advisor/Subadvisor |
Current |
Average Annual Total Returns |
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1 Year |
5 Year |
10 Year |
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Allocation |
BlackRock Global Allocation V.I. Fund - Class III♦ |
1.01% |
19.51% |
5.51% |
7.33% |
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Allocation |
PSF PGIM Flexible Managed Portfolio - Class III |
0.87% |
12.87% |
N/A |
N/A |
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Equity |
PSF Small-Cap Stock Index Portfolio - Class I |
0.38% |
5.69% |
6.97% |
9.52% |
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Equity |
PSF Stock Index Portfolio - Class I |
0.28% |
17.56% |
14.09% |
14.51% |
| The additional information below may be applicable to the Portfolios listed in the above table. |
| PGIM Fixed Income is a business unit of PGIM, Inc. |
| PGIM Investments LLC manages each of the Portfolios of The Prudential Series Fund (PSF). |
| PGIM Investments LLC manages each of the Portfolios of the Advanced Series Trust (AST). AST Investment Services, Inc. serves as co-manager, along with PGIM Investments LLC, to many of the Portfolios of AST. |
| PGIM Real Estate is a business unit of PGIM, Inc. |
| 1. | These Portfolios are also offered in other variable annuity contracts that utilize a predetermined mathematical formula to manage the guarantees offered in connection with optional benefits. |
| Those other variable annuity contracts offer certain optional living benefits that utilize a predetermined mathematical formula (the "formula") to manage the guarantees offered in connection with those optional benefits. The formula monitors each contract Owner's Account Value daily and, if necessary, will systematically transfer amounts among investment options. The formula transfers funds between the Variable Options for those variable annuity contracts and an AST Bond Portfolio Variable Option or a fixed account (those AST Bond Portfolios or a fixed account may not be available in connection with the annuity contracts offered through this prospectus). You should be aware that the operation of the formula in those other variable annuity contracts may result in large-scale asset flows into and out of the underlying Portfolios that are available with your contract. These asset flows could adversely impact the underlying Portfolios, including their risk profile, expenses and performance. Because transfers between the Variable Options and the AST Bond Variable Option or a fixed account can be frequent and the amount transferred can vary from day to day, any of the underlying Portfolios could experience the following effects, among others: |
| (1) | a Portfolio's investment performance could be adversely affected by requiring a subadvisor to purchase and sell securities at inopportune times or by otherwise limiting the subadvisor's ability to fully implement the Portfolio's investment strategy; |
| (2) | the subadvisor may be required to hold a larger portion of assets in highly liquid securities than it otherwise would hold, which could adversely affect performance if the highly liquid securities underperform other securities (e.g., equities) that otherwise would have been held; and |
| (3) | a Portfolio may experience higher turnover and greater negative asset flows than it would have experienced without the formula, which could result in higher operating expense ratios and higher transaction costs for the Portfolio compared to other similar funds. |
| The efficient operation of the asset flows among Portfolios triggered by the formula depends on active and liquid markets. If market liquidity is strained, the asset flows may not operate as intended. For example, it is possible that illiquid markets or other market stress could cause delays in the transfer of cash from one Portfolio to another Portfolio, which in turn could adversely impact performance. |
| Before you allocate to the Variable Option with the AST Portfolios listed above, you should consider the potential effects on the Portfolios that are the result of the operation of the formula in the variable annuity contracts that are unrelated to your Variable Annuity. Please work with your financial professional to determine which Portfolios are appropriate for your needs. |
| 2. | The AST Investment Grade Bond Variable Option is not available for allocation of Purchase Payments or contract Owner transfers. |
| ♦ | This information includes annual expenses that reflect temporary or other fee reductions or waivers. Please see the Portfolio prospectus for additional information. |
May 1, 2026Updating Summary Prospectus 10
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Fixed Options
The following is a list of Fixed Options currently available under the Contract. We may change the features of the Fixed Options listed below, offer new Fixed Options, and terminate existing Fixed Options. We will provide you with written notice before doing so. For more information about the Fixed Options, see "Description of Insurance Company, Registered Separate Account, and Investment Options" in the statutory prospectus.
Note: If amounts are withdrawn from Market Value Adjustment options before the end of its term, we will apply a Contract Adjustment. This may result in a significant reduction in your Contract value. For more information about Market Value Adjustment options, please refer to the "Charges and Adjustments" section of the statutory prospectus.
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Name |
Term |
Minimum Guaranteed Interest Rate* |
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DCA Market Value Adjustment Option |
6 Month |
1% |
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DCA Market Value Adjustment Option |
12 Month |
1% |
*The rate shown was the last Minimum Guaranteed Interest Rate issued before the product closed to new customers. Your Minimum Guaranteed Interest Rate is the amount shown on your Contract and can vary by state. Please consult with your representative for availability and current rates.
Limitations with Optional Benefits
As a condition of electing any optional living benefits, we limit the Investment Options to which you may allocate your Account Value. Broadly speaking, we offer two groups of "Permitted Variable Options". Under the first group (Group I), you can choose from among several asset allocation Portfolios and you are not subject to mandatory quarterly re balancing. We call the second group (Group II) our "Custom Portfolios Program." The Custom Portfolios Program offers a larger menu of Portfolios, but you are subject to certain restrictions. Specifically:
| • | You must allocate at least 30% of your Account Value to certain fixed income Portfolios (currently, the AST Core Fixed Income Portfolio); and |
| • | You may allocate up to 70% in the Portfolios listed in the table below; and |
| • | On each benefit quarter (or the next Valuation Day, if the quarter-end is not a Valuation Day), we will automatically re-balance your Investment Options used with this Program, so that the percentages devoted to each Portfolio remain the same as those in effect on the immediately preceding quarter-end, subject to the predetermined mathematical formula inherent in the benefit. Note that on the first quarter-end following your participation in the Custom Portfolios Program, we will re-balance your Investment Options so that the percentages devoted to each Portfolio remain the same as those in effect when you began the Custom Portfolios Program (subject to the predetermined mathematical formula inherent in the benefit); and |
| • | Between quarter-ends, you may re-allocate your Account Value among the Investment Options permitted within this category. If you reallocate, the next quarterly rebalancing will restore the percentages to those of your most recent reallocation; and |
| • | If you are already participating in the Custom Portfolios Program and add a new benefit that also participates in this program, your rebalancing date will continue to be based upon the quarterly anniversary of your initial benefit election. |
While those who do not participate in any optional benefit generally may invest in any of the Investment Options described in the Prospectus, only those who participate in the optional benefits listed in Group II below may participate in the Custom Portfolios Program. If you participate in the Custom Portfolios Program, you may not participate in our Automatic Rebalancing Program. We may modify or terminate the Custom Portfolios Program at any time. Any such modification or termination will (i) be implemented only after we have notified you in advance, (ii) not affect the guarantees you had accrued under the optional benefit or your ability to continue to participate in those optional benefits, and (iii) not require you to transfer Account Value out of any Portfolio in which you participated immediately prior to the modification or termination. If you are not participating in the Custom Portfolios Program at the time of any modification or termination, or if you voluntarily transfer your Account Value out of the Custom Portfolios Program after any modification or termination, we may restrict your further eligibility to participate in the Custom Portfolios Program.
In the following tables, we set forth the optional benefits that you may have if you also participate in the Group I or Group II programs, respectively. Please note that the DCA Market Value Adjustment Options described later in this section are also available if you elect an optional benefit.
May 1, 2026Updating Summary Prospectus 11
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Group I: Allowable Benefit Allocations
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Highest Daily Lifetime Income v2.1 |
AST Aggressive Asset Allocation Portfolio |
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Spousal Highest Daily Lifetime Income v2.1 |
AST Balanced Asset Allocation Portfolio |
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Highest Daily Lifetime Income 2.0 |
AST J.P. Morgan Conservative Multi-Asset Portfolio |
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Spousal Highest Daily Lifetime Income 2.0 |
AST J.P. Morgan Moderate Multi-Asset Portfolio |
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Highest Daily Lifetime Income |
AST Multi-Asset Diversified Plus Portfolio |
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Spousal Highest Daily Lifetime Income |
AST Multi-Asset Diversified Portfolio |
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AST PGIM Aggressive Multi-Asset Portfolio |
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AST Preservation Asset Allocation Portfolio |
Group II: Custom Portfolios Program
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Highest Daily Lifetime Income 2.0 |
AST Aggressive Asset Allocation Portfolio |
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Spousal Highest Daily Lifetime Income 2.0 |
AST Balanced Asset Allocation Portfolio |
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Highest Daily Lifetime Income |
AST Core Fixed Income Portfolio |
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Spousal Highest Daily Lifetime Income |
AST Government Money Market Portfolio |
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AST International Equity Portfolio |
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AST J.P. Morgan Conservative Multi-Asset Portfolio |
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AST J.P. Morgan Moderate Multi-Asset Portfolio |
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AST Large-Cap Equity Portfolio |
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AST Large-Cap Growth Portfolio |
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AST Large-Cap Value Portfolio |
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AST Multi-Asset Diversified Plus Portfolio |
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AST Multi-Asset Diversified Portfolio |
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AST PGIM Aggressive Multi-Asset Portfolio |
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AST Preservation Asset Allocation Portfolio |
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AST Prudential Core Bond Portfolio |
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AST Small-Cap Equity Portfolio |
May 1, 2026Updating Summary Prospectus 12
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The Prudential Insurance Company of America
751 Broad Street
Newark, NJ 07102-3777
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Edgar Contract Identifier: C000096321; C000264552 |
PPRTB20DPROS-USP |
Pruco Life Flexible Premium Variable Annuity Account published this content on April 22, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 22, 2026 at 21:06 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]