Prudential 2012 Annual Report Download - page 153

PRUDENTIAL FINANCIAL, INC.
Notes to Consolidated Financial Statements
11. CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS (continued)
The Company’s contracts with guarantees may offer more than one type of guarantee in each contract; therefore, the amounts listed
may not be mutually exclusive. The liabilities related to the net amount at risk are reflected within “Future policy benefits.” As of
December 31, 2012 and 2011, the Company had the following guarantees associated with these contracts, by product and guarantee type:
December 31, 2012 December 31, 2011
In the Event of
Death
At Annuitization/
Accumulation(1)
In the Event of
Death
At Annuitization/
Accumulation(1)
($ in millions)
Annuity Contracts
Return of net deposits
Account value ................................... $98,207 $ 196 $ 79,526 $ 193
Net amount at risk ................................ $ 829 $ 33 $ 2,225 $ 53
Average attained age of contractholders ............... 62years 62 years 61 years 61 years
Minimum return or contract value
Account value ................................... $34,299 $ 109,845 $ 30,733 $ 87,939
Net amount at risk ................................ $ 4,209 $ 5,072 $ 5,704 $ 6,917
Average attained age of contractholders ............... 65years 62 years 65 years 61 years
Average period remaining until earliest expected
annuitization .................................. N/A 0.50 year N/A 1 year
December 31,
2012 2011
In the Event of Death
($ in millions)
Variable Life, Variable Universal Life and Universal Life Contracts
No lapse guarantees
Separate account value ..................................................................................... $ 3,406 $ 2,915
General account value ...................................................................................... $ 4,960 $ 4,023
Net amount at risk ......................................................................................... $89,881 $ 78,953
Average attained age of contractholders ........................................................................ 48years 48 years
(1) Includes income and withdrawal benefits as described herein.
Account balances of variable annuity contracts with guarantees were invested in separate account investment options as follows:
December 31,
2012 2011
(in millions)
Equity funds .................................................................................... $ 73,813 $49,110
Bond funds ..................................................................................... 40,815 42,791
Balanced funds .................................................................................. 524 377
Money market funds ............................................................................. 7,763 7,134
Total ...................................................................................... $122,915 $99,412
In addition to the amounts invested in separate account investment options above, $9,590 million at December 31, 2012 and $10,848
million at December 31, 2011 of account balances of variable annuity contracts with guarantees, inclusive of contracts with MVA features,
were invested in general account investment options. For the years ended December 31, 2012, 2011, and 2010, there were no transfers of
assets, other than cash, from the general account to any separate account, and accordingly no gains or losses recorded.
Prudential Financial, Inc. 2012 Annual Report 151