Changes to Caps, Fixed Account rates, and illustrated rates for IUL products effective April 1, 2016:

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1 Product Changes Index Product Caps, Credited and Illustrated Rates Changes to Caps, Fixed Account rates, and illustrated rates for IUL products effective April 1, 2016: Index Universal Life products offer value to clients, and we re committed to keeping these products viable. To that end, we continuously review our product portfolio and make adjustments as necessary. After a recent review of our products and economic conditions, we are making modest changes to some of our Index Universal Life products index caps as well as credited and illustrated rates. The following changes to these products will be effective as of April 1, 2016: PruLife Founders Plus UL: Fixed Account rates will change to 3.75%. Plus 100 Account cap will change to 8.50%. The maximum illustrated index interest rate will change to 5.17%.* Plus 50 Account cap will change to 5.75%, and its basic interest rate will change 1.25%. The maximum illustrated index interest rate will change to 4.60%.* PruLife Index Advantage UL (2015): The Basic Interest rate will change to 3.80%. Index Account will maintain its cap of 11%. The maximum illustrated index interest rate will change to 6.03%. * PruLife Survivorship Index UL: No change to the Fixed Account interest rate Index Account will maintain its cap of 10.50%. The maximum illustrated index interest rate will change to 5.80%.* *The maximum illustrated index interest rate is for hypothetical illustration purposes only, and does not impact the maximum index interest rate that can be earned by policyholders. Previously sold versions of Index Advantage UL: Basic Interest Account rate will change to 4.15% for the 2012 version, and 3.80% for the 2013 version. Index account cap will change to 11% for both versions of IAUL that are no longer being sold. A letter will be sent to policy owners when the cap rate changes, informing them of the new cap and the segments that will be impacted. This notice also indicates that changes to the cap may result in different values than were shown in their most recent illustration and how they can request a current illustration.

2 Important Information to Keep in Mind: Important Announcement Change in Premiums Effective Today The Cap rate declared by Prudential is the maximum Index interest rate that can be credited to a segment. Cap rates are non guaranteed elements of Index UL products, and they are likely to change (increase or decrease) over time. Cap changes only impact Index segments that begin on after the effective date of the change. In this case, April 15, We review cap rates on an ongoing basis, and generally make changes quarterly when warranted. Illustrated Rates are updated to reflect the new caps and necessary limits to comply with Illustration Model Regulations testing and Actuarial Guideline 49 (AG49). Frequently Asked Questions: What caused the caps to decrease? There are a number of factors that impact what cap rate can be offered. In this case, there were a couple of primary drivers that impacted the decision; mainly continued low interest rates and higher costs related to supporting the caps driven by higher market volatility. Does this cap change impact any of the segments that were started in 2015? No, once a segment is started its cap cannot be changed. This change does not impact any segments active before April 15, It only impacts segments beginning on or after April 15, What happens when an active segment matures, will it get the lower cap? Yes, after a segment matures in any of our Index UL products the account value that was in that segment earns Index interest subject to the cap and floor that were set when the segment started. Once that credit has taken place, the money will cycle through the Fixed Account or Basic Interest account (whichever each product uses) and will then follow the standing Index Account transfer instructions assuming no changes are made; a new segment will be created with the new cap levels. Where can I see the cap levels for past segments and different versions of Index UL Products? We have Index Interest Performance page links on Prudential.com that provide the current cap, participation rate, and floor rates for all versions of our different IUL products. They also show the Fixed or Basic interest rates for each product and the historical performance of every segment available since the product was introduced to the market. 2

3 How frequently does Prudential change cap rates? Important Announcement Change in Premiums Effective Today Cap rates are analyzed on an ongoing basis and Prudential applies careful scrutiny to the review of these products. Caps are likely to fluctuate over time and can increase or decrease depending on market conditions. Looking back at Prudential s history of cap changes demonstrates this. For example, in 2013 caps were increased when market conditions allowed, but more recently caps have been lowered. How are maximum illustrated rates determined? There are multiple regulations that must be followed in determining the maximum illustrated rate for an IUL product. The illustrated rate for AG49 must be based on a hypothetical cap that can also pass the Life Insurance Illustrations Model Regulation (#582) tests. You will find that many of our index accounts are using a rate that is slightly under the AG 49 rate based on the caps we are offering. This is because the interest rates and costs of the caps we use for the regulation tests resulted in lower hypothetical caps than the ones our products are offering. We did not want to lower the caps more than necessary because we believe that our caps provide more potential consumer value depending on changes to the S&P 500. TRANSITION RULE If an existing case requires a new or revised illustration on or after April 1 st, the new illustrations will be subject to the new rates. PruLife Founders Plus UL, PruLife Index Advantage UL, and PruLife Survivorship Index UL are issued by Pruco Life Insurance Company except in New York, if available they are issued by Pruco Life Insurance Company of New Jersey. Both are Prudential Financial Companies located in Newark, NJ. 3

4 Prudential Customer Service Office P0 Box 7390 Philadelphia, PA (8 DO) Policyowner: Insured: Policy Number: January 1, 2016 Notice Of Change In Index Growth Cap Rate for Your Policy s S&P 500 Indexed Account Dear I am writing to inform you that the Index Growth Cap rate for your policy s $&P 500 Indexed Account has changed. This change may have an effect on your PruLife Index Advantage UL insurance policy. The Index Growth Cap for this policy s S&P 500 Indexed Account is now 11.00%. For segments opened for this account on or after January 15, 2016, when we determine Index Interest to credit on matured index segments, we will use an Index Growth Cap rate of 11.00%. Index segments for this indexed account are not affected by this change if opened before January 15, As provided by your policy, the current Index Growth Cap rate for the policy s indexed account is subject to change. It may be raised or lowered at any time before a segment is opened, and is guaranteed to never be less than the policy s Guaranteed Minimum Index Growth Cap rate of 3.00%. The Index Growth Cap rate is generally stated as a percentage and is the maximum rate of interest that will be credited to an index segment when it matures, regardless of changes to the segment s designated index. Please see your policy and policyowner statement for additional information about indexed account(s). Changes to the Index Growth Cap rate are not tied to and will not affect the performance of the underlying index or its value. Changes to the Index Growth Cap rate could result in different values than shown in your most recent policy illustration. If you would like to request a current policy illustration, please contact us, or your financial professional at the number below. Continued on back VAOI4IU ozol NOCAI

5 Thank you for choosing us for your instirance needs. If you have any questions or would like more information, please call our customer service office toll free at (800) We are available Monday through Friday between 8:00 a.m. and 8:00 p.m. Eastern time. One of our customer service representatives will be glad to help you. Or you may call your licensed financial professional, Sincerely, Kimberly King Vice President, Operations The S&P 500 lndcx is a product of S&P Dow Jones Indices LLC ( SPDJI ), and has been licensed for use by The Prudential Insurance Company of America for itself and affiliates including Pruco Life Insurance Company and Pruco Life Insurance Company of New Jersey (collectively Pruco Life ). Standard & Poors, S&P, and S&P 500 are registered trademarks of Standard & Poor s financial Services LLC ( S&P ); Dow Joncs is a registered trademark of Dow Jones Trademark Holdings LLC ( Dow Jones ); and these trademarks have been licensed for use by $PDJI and sublicenscd for certain purposes by Pruco Life. Pruco Life s products are 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 purchasing such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index. S&P 500 index values are exclusive of dividends. Issued by: Pruco Life Insurance Company, located at 213 Washington Street, Newark, NJ , a Prudential Financial, Inc. company, solely responsible for its own financial condition and contractual obligations. Prudential, Prudential Financial, the Rock Logo, and the Rock Prudential Logo are registered service marks of The Prudential Insurance Company of America, Newark, NJ, and its affiliates. VAOI4IU Ozo I NOCAI