Pacific Odyssey®

A Fee-Based, Deferred, Variable Annuity

A fee-based variable annuity, with no withdrawal charges, 0.30% mortality & expense and administrative fees, and a standard death benefit.

Client Profiles

You may consider Pacific Odyssey for fee-based pre-retirees and retirees who are:

  • Willing to accept market risk for potential growth of their contract values.
  • Concerned about taxes.
  • Looking for sources of lifetime income.
  • Looking for sources of principal protection against market downturns through an optional benefit.

Optional Benefits

Optional benefits are available for an additional cost. Please refer to our Optional Benefits page for more information.

Investment Options

Our investment lineup offers:

  • A large selection of investment options to choose from.
  • Wide assortment of asset class selections.
  • Globally recognized and respected investment managers.
  • No asset-transfer program or managed-volatility overlay.

Investment Transfers

  • Limited to 25 per calendar year; no charges apply.
  • No additional transfers into or out of the same investment option until the seventh calendar day following the initial transfer day (not including the Fidelity® VIP Government Money Market Portfolio). 
  • Additional limitations apply to certain individual investment options.

Additional Information

Withdrawals without Charges
Although variable annuities are designed for the long-term investor, clients have immediate access to their money with no withdrawal charges. Withdrawals are subject to minimum amounts.

Systematic Withdrawals
Clients can stay invested in the market and have the flexibility to start and stop withdrawals anytime they wish.

Preauthorized Withdrawals
Minimum of $250 per withdrawal. If deposited electronically into a checking or savings account, minimum withdrawal is $100.

Asset Rebalancing
Quarterly, semiannually, and annually from contract date; no minimum balance.

Dollar Cost Averaging (DCA)
Minimum $250. From any variable investment option with a balance of at least $5,000 to any other investment option; program continues until source account is depleted or cancellation occurs. DCA does not ensure a profit or protect against loss in declining markets.

Earnings Sweep
From Fidelity® VIP Government Money Market Portfolio to any other variable options; $5,000 minimum account value.

Flexible Income through Partial Annuitization

Clients have the option to receive guaranteed, flexible income through partial annuitization. This allows a client to convert a portion of the contract value into income that is guaranteed to last for his or her life, two lives, or a specified period. For contracts owned by individuals, the remaining portion will continue to provide tax-deferred growth potential. Full annuitization is also available.

Protected Lifetime Income Options

Life Only

Protected income your client can't outlive.

Periodic income payments for life are guaranteed.

Life with Period Certain2

Protected income your client can't outlive with beneficiary protection.

Periodic income payments will be made for life and guaranteed for a minimum of 5 to 30 years (period certain). If the annuitant dies before the end of the period, his or her beneficiaries will receive the remaining guaranteed income. If the client lives longer than the period certain, he or she will continue to receive the income for life.

Joint and Survivor Life

Income your client and another person can't outlive.

Periodic income payments are guaranteed over the client's lifetime (as the primary annuitant) and the lifetime of another person (as the secondary annuitant, who need not be a spouse).

Period Certain Only2

Protected income over time.

Periodic income payments will be made over a specific period, from 10 to 30 years.

If death occurs before annuity income payments begin, the death benefit options below are payable upon the death of the first owner or sole annuitant. For contracts owned by a non-natural owner (for example, a trust), the death benefit is payable upon the death of the first annuitant.

Standard Death Benefit
This death benefit offers the greater of:

  1. The contract value.
  2. The total of all purchase payments into the contract, adjusted for withdrawals. The adjustment is proportionate and may be more or less than the actual amount withdrawn.

Optional Death Benefit
For an additional cost, this benefit offers:

  • Stepped-Up Death Benefit—to lock in gains.

Regardless of the death benefit option, if the owner is not an annuitant and the owner dies prior to annuitization, the death benefit amount will equal the contract value.

M&E Risk Charge
0.15% per year of each subaccount's assets, deducted daily.

Administrative Fee
0.15% per year of each subaccount's assets, deducted daily.

Total Net Fund Expense Range
0.28%–1.54% (annually of each fund’s average daily net assets; as of the most recent prospectus, adjusted).

Annual Contract Fee
No fee.

Minimum Purchase Payments 

Nonqualified: $25,000 initial; $250 subsequent

Qualified: $25,000 initial; $50 subsequent

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


Preauthorized Investing

Periodic payments of equal amounts can be transferred from a financial institution account to meet the minimum initial purchase payments during the first year. The first purchase payment must accompany the application.

Maximum Annuitant/Owner Issue Age: 90 (85 in New York and Oklahoma)

Maximum Annuitization Age: 100

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.

1For more information, including the gross expense ratio, waivers, and/or expense reimbursements, see the applicable fund prospectus. Expenses are subject to change.

2For qualified contracts, the maximum length of time for the Period Certain options may be less than 30 years, if necessary, to comply with RMD regulations for annuities.

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 are taxable as ordinary income when distributed and may be subject to a 10% additional tax if withdrawn before age 59½. For nonqualified contracts, an additional 3.8% federal tax may apply on net investment income. Withdrawals will reduce the contract value and the value of the death benefits, and also may reduce the value of any optional benefits.

The value of the variable investment options will fluctuate so that shares, when redeemed, may be worth more or less than the original cost.

For Use With Clients


For more information, please refer to our Prospectuses & Supplements page.


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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.

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. 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 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 (Newport Beach, CA) and an affiliate of Pacific Life & Annuity Company. Variable and fixed annuity products are available through licensed third parties.

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