Enhanced Income Select 2

Life in Motion. Income to Match.

Enhanced Income Select 2 is not available in New York. 

For clients who want to maximize income and need flexibility, Enhanced Income Select 2 offers an annual credit, enhanced income starting as early as age 59½, the ability to start and stop withdrawals, and an Income Rollover feature that allows clients to carry over remaining unused amounts into the next year's withdrawal.

Consider this for clients who:

  • Would like to maximize the income they receive in retirement.

  • Want to grow their retirement income while waiting up to 10 years to begin taking income.

  • Need flexibility for when and how to take income.


Annual Credit

  • A 7% simple-interest annual credit added to the protected payment base for up to 10 years assuming no withdrawals are taken.

  • Automatic annual resets to lock in market gains. After a reset, annual credits are based on the new protected payment base for the remainder of the 10 years or until the first withdrawal is taken.

  • If a withdrawal is taken, including a required minimum distribution (RMD), the annual credit ends.


Enhanced Income

  • An enhanced amount of income, beginning as early as age 59½, if the contract value is greater than zero. Guaranteed lifetime income of 3.50%


    Guaranteed Lifetime Income Percentage (GLIP) of 3.50% is applicable when the contract value is $0.

  • Clients may take withdrawals at a percentage determined by the age at which they make their first withdrawal and whether they select Single Life or Joint Life.


Withdrawal Percentages

Guarantees are subject to the claims-paying ability and financial strength of the issuing insurance company and do not protect the value of the variable investment options, which are subject to market risk.

Age at First Withdrawal (or first withdrawal after a reset) Enhanced Income Percentage1 (Contract has value) Guaranteed Lifetime Income Percentage (Contract value=0)1
Single Life Joint Life
59½–64 5.55% 5.05% 3.50%
65–69 8.50% 8.00% 3.50%
70+ 8.80% 8.30% 3.50%

1As a percentage of the protected payment base.


Income Rollover Feature

To provide clients with more flexibility in retirement, this feature allows them to carry over unused withdrawals into the next year. Once withdrawals begin, the income rollover amount is calculated at the start of each contract year. It is equal to any remaining enhanced income amount from the previous contract year. Withdrawals reduce the income rollover amount before the enhanced income amount. The income rollover amount is not adjusted by additional purchase payments or resets and will not apply if greater than the contract value.

Restrictions apply. See the prospectus for details.


Available Investment Options

A variety of investment options are available including Portfolio Optimization Portfolios, Pacific Dynamix® Portfolios, and asset-allocation funds. Exclusions may apply.


Early Withdrawals

Prior to age 59½ (based on the youngest spouse’s age for Joint Life), any withdrawal amount will reduce the protected payment base by either the amount of the withdrawal or on a proportionate basis, whichever results in the lower protected payment base. If an early withdrawal reduces the contract value to zero, Enhanced Income Select 2 will terminate and clients will not receive the guaranteed lifetime income amount.


Excess Withdrawals

The protected payment base receives pro rata treatment. If a withdrawal exceeds the enhanced income amount, the protected payment base will be reduced on a proportionate basis for the amount in excess of the enhanced income amount. If a withdrawal exceeds the enhanced income amount and reduces the contract value to zero, the optional benefit will terminate.

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Living benefits are available for an additional cost. Not all benefits are available at all broker/dealer firms or in all states. Contact your broker/dealer or Pacific Life for more information.

Investors should carefully consider a variable annuity's risks, charges, limitations, and expenses, as well as the risks, charges, expenses, and investment goals of the underlying investment options. This and other information about Pacific Life are provided in the product and underlying fund prospectuses. These prospectuses should be read carefully before investing.

Annuity withdrawals and other distributions of taxable amounts, including death benefit payouts, will be subject to ordinary income tax. For nonqualified contracts, an additional 3.8% federal tax may apply on net investment income. If withdrawals and other distributions are taken prior to age 59½, an additional 10% federal income tax may apply. A withdrawal charge also may apply. Withdrawals will reduce the contract value and the value of the death benefits, and also may reduce the value of any optional benefits.

Enhanced Income Select 2 is named "Guaranteed Withdrawal Benefit XXIII Rider--Single Life" and "Guaranteed Withdrawal Benefit XXIII Rider--Joint Life" in the contract rider.

Only one guaranteed minimum withdrawal benefit (GMWB) can be purchased on a variable annuity. 

Contract Form Series: ICC20:10-1020, 10-17800, 10-178OR (state variations may apply)

Rider Series: ICC20:20-1021, ICC20:20-1022 (state variations may apply)

Pacific Life, its distributors, and respective representatives do not provide tax, accounting, or legal advice. Any taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor or attorney.

Pacific Life is a product provider. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products.

Unless otherwise noted, all aforementioned money managers, their distributors, and affiliates are unaffiliated with Pacific Life and Pacific Select Distributors, LLC.

Pacific Life refers to Pacific Life Insurance Company and its subsidiary Pacific Life & Annuity Company. Insurance products can be issued in all states, except New York, by Pacific Life Insurance Company or Pacific Life & Annuity Company. Product/material availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues. 

Variable insurance products are distributed by Pacific Select Distributors, LLC (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company and an affiliate of Pacific Life & Annuity Company. 

The home office for Pacific Life & Annuity Company is located in Phoenix, Arizona. The home office for Pacific Life Insurance Company is located in Omaha, Nebraska.

No bank guarantee • Not a deposit • Not FDIC/NCUA insured • May lose value • Not insured by any federal government agency

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