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The market value adjustment (MVA) is based on a formula to respond to interest rate movements. As a general rule, if the current crediting rate is less than
your guaranteed interest rate, the MVA can increase the amount withdrawn. Otherwise, the adjustment can reduce the amount withdrawn. An MVA will apply to any
withdrawals taken prior to the end of a guaranteed term that are greater than the previous 12 months’ interest.
Withdrawals of interest credited over the previous 12 months can be taken without charge. Withdrawals are subject to ordinary income tax, and a 10% federal
tax penalty may apply to money withdrawn before age 59½.
Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. Each company is solely responsible for the financial obligations accruing under the products it issues, and its product and rider guarantees are backed by that company’s financial strength
and claims-paying ability. Pacific Frontiers is not available in New York.
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