Pacific Choice Income

A Deferred Variable Annuity

A variable annuity designed to provide clients with retirement income when and how they want it through one of two income benefits.

 
 

Two Choices for Growing Income

At contract issue your client must select either the Enhanced Income Select 2 or Future Income Generator income benefit.

Growth

  • Choose from eligible investment options to facilitate growth with the flexibility to adjust as clients’ needs change.1
  • Access to all 84 investment options when Future Income Generator is selected (in all states except New York) for full open architecture.
  • Obtain unlimited growth potential and tax deferral. 

Flexible Income

Add Enhanced Income Select 2 (except in New York) to:

  • Help clients grow future retirement income through annual credits and resets.2
  • Help maximize income.
  • Create flexibility through an Income Rollover feature.

Steady Income

Add Future Income Generator (or Future Income Generator in New York) to:

  • Help clients grow future retirement income through annual credits and resets.2
  • Lock in steady income clients can count on for life, even if the contract value goes to zero.

Wealth Transfer

Add the optional Return-of-Premium Death Benefit which may provide an amount that can be passed down to the next generation.

 

Key Details

For complete product details view the Pacific Choice Income Fact Sheet →

Purchase Payment

Qualified

$2,000 initial
$50 subsequent

 

Nonqualified

$10,000 initial
$250 subsequent

 

For aggregate purchase payments totaling more than $1 million, contact Pacific Life for approval.

Charges & Fees

0.90%
M&E Risk Charge

(contract value death benefit)

0.25%
Administrative Fee

0.15%
Return-of-Premium Death Benefit

$50
Annual Contract Fee

0.28%—1.64%
Total Net Fund Expense Range

1.25% - Single Life  / 1.45% -  Joint Life
Enhanced Income Select 2 Fee

1.45% - Single Life / 1.55% - Joint Life
Future Income Generator Fee

Access to Money

Contract Year
(Age)

Charge per
Withdrawal

Charge per
Withdrawal

(New York only)
1 9% 8%  
2 8% 8%
3 7% 7%
4 6% 6%
5 5% 5%
6 4% 4%
7 3% 3%
 
 
 

Take the Next Step

Start A Conversation

How may we support you? Let's talk about:

  • A specific client scenario
  • Getting appointed
  • Running an illustration (if non-appointed)
  • Any other questions you might have
Contact Us
 

VAQ2016-1123H

1The value of the variable investment options will fluctuate so that shares, when redeemed, may be worth more or less than the original cost. 
2A reset may not apply, depending on the performance of the contract over time. 

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.


Broker/dealer and state variations may apply. Contact your broker/dealer for availability.

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 benefit, and also may reduce the value of any other 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.
Future Income Generator is named “Guaranteed Withdrawal Benefit XXII Rider – Single Life” and “Guaranteed Withdrawal Benefit XXII Rider – Joint Life” in the contract rider.

Contract Form Series: ICC20:10-1020 (state variations may apply)
Rider Series: ICC20:20-1021, ICC20:20-1022, ICC19:20-1427, ICC19:20-1428, ICC20:20-1020 (state variations may apply).

VAC2016-1122H

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 affiliates, including 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. In New York, insurance products are only issued by 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

For financial professional use only. Not for use with the public.