Enhanced Income Select 21 is an optional living benefit available with Pacific Choice Income and Pacific Odyssey. It provides a 7% stackable2 credit and is designed for clients who want to maximize income and flexibility.
A Pacific Life Variable Annuity with Enhanced Income Select 2
Is Enhanced Income Select 2 right for your clients?
Growth
Stackable2 7% annual credit for up to 10 years or until the first withdrawal.
Maximize Income
Enhanced annual income as high as 8.8%.3
Flexibility
Allows clients to roll income from one year to the next.
Lock in a 7% credit for clients today. Let's connect.
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Enhancements made to Enhanced Income Select 2 as of 11/1/23 are applicable in all states except New York. Contact your consultative wholesaler for withdrawal percentages for New York.
1Enhanced Income Select 2 is available with Pacific Choice Income and Pacific Odyssey for an additional cost.
2The term "stackable" is equivalent to a reset. A reset takes place when the contract value is greater than the protected payment base and annual credit. After a reset, the 7% annual credit amount grows based off the higher protected income base.
3Enhanced annual income percentages may be lower based on the age when the first withdrawal is taken and whether or not the Single orJoint Life version is chosen.
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 optional guaranteed minimum withdrawal benefit (GMWB) can be purchased on a variable annuity.
Not all optional benefits are available at all firms or in all states. Contact your broker/dealer or Pacific Life for more information.
Guarantees, including optional benefits, are subject to the issuing company’s claims-paying ability and financial strength. They do not protect the value of the variable investment options, which are subject to market risk.
Contract Form Series: ICC20:10-1020, 10-17800, 10-178OR
Rider Series: ICC20:20-1021, ICC20:20-1022
(state variations may apply)