Pacific Life Adds Two New Features to Pacific Index Edge, Its Most Popular Fixed Indexed Annuity

 

NEWPORT BEACH, Calif. – September 4, 2018 — As they approach retirement, many clients utilize fixed indexed annuities to grow assets while ensuring the principal is protected against market downturns. Now, Pacific Life Insurance Company is providing such clients with enhanced flexibility by adding two new features to its best-selling fixed indexed annuity, Pacific Index Edge. The additions include:

  • Five-year withdrawal charge option: Should the need arise, many clients value the ability to make partial withdrawals from their annuity contracts without incurring withdrawal charges. Now, along with a choice of either a seven- or 10-year withdrawal charge period, Pacific Index Edge offers the option of a five-year withdrawal charge period for quicker, withdrawal-charge-free access to money.
  • 5-Year Participation Rate with Spread interest-crediting option. With this new option, Pacific Index Edge offers clients downside protection from market loss plus a competitive participation rate (and spread, if applicable) that is locked in for a full five years. For those clients approaching retirement, Pacific Index Edge offers higher growth potential than a traditional fixed annuity, and there is no risk of loss as they reach the retirement years.

“We believe these new features will excite both financial professionals and their clients,” says Christine Tucker, vice president of marketing for Pacific Life’s Retirement Solutions Division. “Pacific Index Edge will accommodate an even wider array of client preferences and goals, and clients can choose the five-year withdrawal charge period with the 5-Year Participation Rate option to have higher interest-earning potential with no risk of loss.”

For more information about Pacific Index Edge, financial professionals are invited to talk to a Pacific Life consultative wholesaler at (800) 722-2333, or visit the Pacific Index Edge page.

 

About Pacific Life

Celebrating 150 years of service, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the 100 largest U.S. companies as its clients. For additional company information, including current financial strength ratings, visit www.PacificLife.com.

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2018 is compiled by Pacific Life using the 2018 FORTUNE 500® list.

Pacific Index Edge is not available in New York.

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 tax may apply. A withdrawal charge and a market value adjustment (MVA) 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.

Fixed annuities issued by Pacific Life (Newport Beach, CA) are available through licensed third parties.

 

FAC1091-0918E


Media Contact:

June Arce
(949) 219-6916

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