SUPPLEMENT DATED AUGUST 4, 1997
TO PROSPECTUS DATED MAY 1, 1997 FOR
PRUCO LIFE INSURANCE COMPANY
OF NEW JERSEY
VARIABLE APPRECIABLE ACCOUNT
VARIABLE
APPRECIABLE
LIFE (R)---------------
INSURANCE CONTRACTS
The purpose of this supplement is to revise the example in the CONTRACT LOANS
section and replace the hypothetical illustrations on pages T1 and T2.
The CONTRACT LOANS section begins on page 24. The last paragraph of the CONTRACT
LOANS section is revised to read:
"Consider the Form A Contract issued on a 35 year old male insured illustrated
in the table on page T1 with an 8% gross investment return. Assume a $2,000
(5.5%) fixed-rate loan was made under this Contract at the end of Contract year
8 and repaid at the end of Contract year 10 and loan interest was paid when due.
Upon repayment, the cash surrender value would be $4,913.63. This amount is
lower than the cash surrender value shown on that page for the end of Contract
year 10 because the loan amount was credited with the 4% assumed rate of return
rather than the 6.89% net return for the designated subaccount[s] resulting from
the 8% gross return in the underlying Series Fund."
The hypothetical illustrations on pages T1 and T2 are replaced with the
following illustrations with the same page numbers. These new illustrations
reflect changes in the cost of insurance rates that Pruco Life of New Jersey is
currently charging.
PLNJVAL-SUP Ed. 8-97 Catalog No. 64N093K
<PAGE>
<TABLE>
ILLUSTRATIONS
-------------
VARIABLE APPRECIABLE LIFE INSURANCE CONTRACT
FORM A -- FIXED DEATH BENEFIT
MALE PREFERRED ISSUE AGE 35
$60,000 GUARANTEED DEATH BENEFIT
$554.80 MINIMUM INITIAL SCHEDULED PREMIUM (1) (3)
USING CURRENT SCHEDULE OF CHARGES
<CAPTION>
DEATH BENEFIT (2) CASH SURRENDER VALUE (2)
---------------------------------------------------- ----------------------------------------------------
ASSUMING HYPOTHETICAL GROSS (AND NET) ASSUMING HYPOTHETICAL GROSS (AND NET)
PREMIUMS ANNUAL INVESTMENT RETURN OF ANNUAL INVESTMENT RETURN OF
END OF ACCUMULATED ---------------------------------------------------- ----------------------------------------------------
POLICY AT 4% INTEREST 0% GROSS 4% GROSS 8% GROSS 12% GROSS 0% GROSS 4% GROSS 8% GROSS 12% GROSS
YEAR PER YEAR (3) (-1.11% NET) (2.89% NET) (6.89% NET) (10.89% NET) (-1.11% NET) (2.89% NET) (6.89% NET) (10.89% NET)
------ -------------- ------------ ----------- ----------- ------------ ------------ ----------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 $ 577 $60,000 $60,000 $ 60,000 $ 60,000 $ 0 $ 0 $ 0 $ 0
2 $ 1,177 $60,000 $60,000 $ 60,000 $ 60,000 $ 225 $ 274 $ 323 $ 374
3 $ 1,801 $60,000 $60,000 $ 60,000 $ 60,000 $ 527 $ 621 $ 720 $ 825
4 $ 2,450 $60,000 $60,000 $ 60,000 $ 60,000 $ 819 $ 973 $ 1,140 $ 1,321
5 $ 3,125 $60,000 $60,000 $ 60,000 $ 60,000 $ 1,101 $ 1,329 $ 1,584 $ 1,868
6 $ 3,827 $60,000 $60,000 $ 60,000 $ 60,000 $ 1,512 $ 1,830 $ 2,195 $ 2,614
7 $ 4,557 $60,000 $60,000 $ 60,000 $ 60,000 $ 1,937 $ 2,361 $ 2,861 $ 3,449
8 $ 5,317 $60,000 $60,000 $ 60,000 $ 60,000 $ 2,350 $ 2,896 $ 3,557 $ 4,357
9 $ 6,106 $60,000 $60,000 $ 60,000 $ 60,000 $ 2,752 $ 3,436 $ 4,286 $ 5,344
10 $ 6,927 $60,000 $60,000 $ 60,000 $ 60,000 $ 3,143 $ 3,979 $ 5,051 $ 6,420
15 $11,553 $60,000 $60,000 $ 60,000 $ 60,000 $ 4,535 $ 6,476 $ 9,346 $ 13,594
20 $17,182 $60,000 $60,000 $ 60,000 $ 60,000 $ 5,526 $ 9,124 $ 15,331 $ 26,022
25 $24,029 $60,000 $60,000 $ 60,000 $ 86,975 $ 5,864 $11,745 $ 23,744 $ 47,007
30 (AGE 65) $32,361 $60,000 $60,000 $ 60,000 $134,772 $ 5,167 $14,058 $ 35,862 $ 82,192
35 $49,128 $60,000 $60,000 $ 78,139 $208,001 $17,084 $22,317 $ 53,038 $141,183
40 $69,528 $60,000 $60,000 $103,006 $321,162 $28,160 $31,377 $ 76,657 $239,009
45 $94,348 $60,000 $60,000 $135,417 $497,631 $38,647 $41,792 $108,515 $398,771
- ----------------
(1) IF PREMIUMS ARE PAID MORE FREQUENTLY THAN ANNUALLY, THE INITIAL PAYMENTS WOULD BE $284.80 SEMI-ANNUALLY, $145.40 QUARTERLY OR
$50 MONTHLY. THE ULTIMATE PAYMENTS WOULD BE $1,775.20 SEMI-ANNUALLY, $897.80 QUARTERLY OR $302.60 MONTHLY. THE DEATH BENEFITS
AND CASH SURRENDER VALUES WOULD BE SLIGHTLY DIFFERENT FOR A CONTRACT WITH MORE FREQUENT PREMIUM PAYMENTS.
(2) ASSUMES NO CONTRACT LOAN HAS BEEN MADE.
(3) VALUES SHOWN IN THE TABLE ARE APPLICABLE TO BOTH THE ORIGINAL CONTRACTS (THE "1984 CONTRACTS") AND THE REVISED CONTRACTS THAT
FIRST BEGAN TO BE ISSUED IN SEPTEMBER OF 1986 (THE "1986 CONTRACTS"), EXCEPT WHERE THE DEATH BENEFIT HAS BEEN INCREASED TO THE
CONTRACT FUND DIVIDED BY THE NET SINGLE PREMIUM, IN WHICH CASE THE CASH SURRENDER VALUE AND DEATH BENEFIT FIGURES SHOWN ARE
APPLICABLE ONLY TO THE 1986 CONTRACTS. THIS FIRST OCCURS AT THE TIME WHEN THE 1984 CONTRACTS WOULD BECOME PAID-UP. FOR A
HYPOTHETICAL GROSS INVESTMENT RETURN OF 0%, THE SECOND SCHEDULED PREMIUM WILL BE $3,355.58. FOR A GROSS RETURN OF 4%, THE
SECOND SCHEDULED PREMIUM WILL BE $1,732.02. FOR A GROSS RETURN OF 8%, THE SECOND SCHEDULED PREMIUM WILL BE $554.80. FOR A GROSS
RETURN OF 12%, THE SECOND SCHEDULED PREMIUM WILL BE $554.80. THE PREMIUMS ACCUMULATED AT 4% INTEREST IN COLUMN 2 ARE THOSE
PAYABLE IF THE GROSS INVESTMENT RETURN IS 4%. FOR AN EXPLANATION OF WHY THE SCHEDULED PREMIUM MAY INCREASE ON THE PREMIUM
CHANGE DATE, SEE PREMIUMS.
THE HYPOTHETICAL INVESTMENT RATES OF RETURN SHOWN ABOVE AND ELSEWHERE IN THIS PROSPECTUS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE
DEEMED A REPRESENTATION OF PAST OR FUTURE INVESTMENT RATES OF RETURN. ACTUAL RATES OF RETURN MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND ON A NUMBER OF FACTORS INCLUDING THE INVESTMENT ALLOCATIONS MADE BY AN OWNER, PREVAILING INTEREST RATES, AND RATES
OF INFLATION. THE DEATH BENEFIT AND CASH SURRENDER VALUE FOR A CONTRACT WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED 0%, 4%, 8%, AND 12% OVER A PERIOD OF YEARS BUT ALSO FLUCTUATED ABOVE OR BELOW THOSE AVERAGES FOR INDIVIDUAL CONTRACT
YEARS. NO REPRESENTATIONS CAN BE MADE BY PRUCO LIFE OF NEW JERSEY OR THE SERIES FUND THAT THESE HYPOTHETICAL RATES OF RETURN CAN BE
ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME.
</TABLE>
T1
<PAGE>
<TABLE>
VARIABLE APPRECIABLE LIFE INSURANCE CONTRACT
FORM B -- VARIABLE DEATH BENEFIT
MALE PREFERRED ISSUE AGE 35
$60,000 GUARANTEED DEATH BENEFIT
$554.80 MINIMUM INITIAL SCHEDULED PREMIUM (1) (3)
USING CURRENT SCHEDULE OF CHARGES
<CAPTION>
DEATH BENEFIT (2) CASH SURRENDER VALUE (2)
---------------------------------------------------- ----------------------------------------------------
ASSUMING HYPOTHETICAL GROSS (AND NET) ASSUMING HYPOTHETICAL GROSS (AND NET)
PREMIUMS ANNUAL INVESTMENT RETURN OF ANNUAL INVESTMENT RETURN OF
END OF ACCUMULATED ---------------------------------------------------- ----------------------------------------------------
POLICY AT 4% INTEREST 0% GROSS 4% GROSS 8% GROSS 12% GROSS 0% GROSS 4% GROSS 8% GROSS 12% GROSS
YEAR PER YEAR (3) (-1.11% NET) (2.89% NET) (6.89% NET) (10.89% NET) (-1.11% NET) (2.89% NET) (6.89% NET) (10.89% NET)
------ -------------- ------------ ----------- ----------- ------------ ------------ ----------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 $ 577 $60,000 $60,016 $ 60,033 $ 60,050 $ 0 $ 0 $ 0 $ 0
2 $ 1,177 $60,000 $60,031 $ 60,080 $ 60,131 $ 224 $ 272 $ 322 $ 373
3 $ 1,801 $60,000 $60,048 $ 60,146 $ 60,251 $ 526 $ 619 $ 718 $ 822
4 $ 2,450 $60,000 $60,065 $ 60,231 $ 60,412 $ 817 $ 970 $ 1,137 $ 1,317
5 $ 3,125 $60,000 $60,085 $ 60,338 $ 60,621 $ 1,099 $ 1,326 $ 1,579 $ 1,862
6 $ 3,827 $60,000 $60,135 $ 60,498 $ 60,913 $ 1,509 $ 1,825 $ 2,188 $ 2,604
7 $ 4,557 $60,000 $60,190 $ 60,686 $ 61,270 $ 1,934 $ 2,355 $ 2,851 $ 3,435
8 $ 5,317 $60,000 $60,251 $ 60,906 $ 61,698 $ 2,347 $ 2,889 $ 3,544 $ 4,335
9 $ 6,106 $60,000 $60,318 $ 61,160 $ 62,205 $ 2,749 $ 3,426 $ 4,268 $ 5,313
10 $ 6,927 $60,000 $60,393 $ 61,451 $ 62,802 $ 3,140 $ 3,968 $ 5,026 $ 6,377
15 $ 11,553 $60,000 $61,226 $ 64,043 $ 68,202 $ 4,551 $ 6,467 $ 9,284 $ 13,443
20 $ 17,182 $60,000 $62,629 $ 68,640 $ 79,001 $ 5,566 $ 9,090 $15,100 $ 25,462
25 $ 24,029 $60,000 $64,994 $ 76,321 $ 99,320 $ 5,933 $11,582 $22,910 $ 45,909
30 (AGE 65) $ 32,361 $60,750 $68,953 $ 88,654 $135,852 $ 5,250 $13,453 $33,154 $ 80,352
35 $ 51,418 $62,650 $68,672 $ 92,335 $203,463 $16,952 $22,974 $46,637 $138,102
40 $ 74,605 $63,808 $69,609 $101,420 $315,282 $27,418 $33,219 $65,030 $234,633
45 $102,814 $64,702 $72,369 $118,657 $490,772 $36,441 $44,108 $90,395 $393,276
- ----------------
(1) IF PREMIUMS ARE PAID MORE FREQUENTLY THAN ANNUALLY, THE INITIAL PAYMENTS WOULD BE $284.80 SEMI-ANNUALLY, $145.40 QUARTERLY OR
$50 MONTHLY. THE ULTIMATE PAYMENTS WOULD BE $1,775.20 SEMI-ANNUALLY, $897.80 QUARTERLY OR $302.60 MONTHLY. THE DEATH BENEFITS
AND CASH SURRENDER VALUES WOULD BE SLIGHTLY DIFFERENT FOR A CONTRACT WITH MORE FREQUENT PREMIUM PAYMENTS.
(2) ASSUMES NO CONTRACT LOAN HAS BEEN MADE.
(3) VALUES SHOWN IN THE TABLE ARE APPLICABLE TO BOTH THE ORIGINAL CONTRACTS (THE "1984 CONTRACTS") AND THE REVISED CONTRACTS THAT
FIRST BEGAN TO BE ISSUED IN SEPTEMBER OF 1986 (THE "1986 CONTRACTS"), EXCEPT WHERE THE DEATH BENEFIT HAS BEEN INCREASED TO THE
CONTRACT FUND DIVIDED BY THE NET SINGLE PREMIUM, IN WHICH CASE THE CASH SURRENDER VALUE AND DEATH BENEFIT FIGURES SHOWN ARE
APPLICABLE ONLY TO THE 1986 CONTRACTS. THIS FIRST OCCURS AT THE TIME WHEN THE 1984 CONTRACTS WOULD BECOME PAID-UP. FOR A
HYPOTHETICAL GROSS INVESTMENT RETURN OF 0%, THE SECOND SCHEDULED PREMIUM WILL BE $3,365.28. FOR A GROSS RETURN OF 4%, THE
SECOND SCHEDULED PREMIUM WILL BE $2,138.58. FOR A GROSS RETURN OF 8%, THE SECOND SCHEDULED PREMIUM WILL BE $554.80. FOR A GROSS
RETURN OF 12%, THE SECOND SCHEDULED PREMIUM WILL BE $554.80. THE PREMIUMS ACCUMULATED AT 4% INTEREST IN COLUMN 2 ARE THOSE
PAYABLE IF THE GROSS INVESTMENT RETURN IS 4%. FOR AN EXPLANATION OF WHY THE SCHEDULED PREMIUM MAY INCREASE ON THE PREMIUM
CHANGE DATE, SEE PREMIUMS.
THE HYPOTHETICAL INVESTMENT RATES OF RETURN SHOWN ABOVE AND ELSEWHERE IN THIS PROSPECTUS ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE
DEEMED A REPRESENTATION OF PAST OR FUTURE INVESTMENT RATES OF RETURN. ACTUAL RATES OF RETURN MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND ON A NUMBER OF FACTORS INCLUDING THE INVESTMENT ALLOCATIONS MADE BY AN OWNER, PREVAILING INTEREST RATES, AND RATES
OF INFLATION. THE DEATH BENEFIT AND CASH SURRENDER VALUE FOR A CONTRACT WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED 0%, 4%, 8%, AND 12% OVER A PERIOD OF YEARS BUT ALSO FLUCTUATED ABOVE OR BELOW THOSE AVERAGES FOR INDIVIDUAL CONTRACT
YEARS. NO REPRESENTATIONS CAN BE MADE BY PRUCO LIFE OF NEW JERSEY OR THE SERIES FUND THAT THESE HYPOTHETICAL RATES OF RETURN CAN BE
ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME.
</TABLE>
T2
