PACIFIC LIFE INTRODUCES PROTECTED INVESTMENT BENEFIT
September 11, 2019 by Pacific Life
Media Contact:
Steve Chesterman
(949) 219-3243
schesterman@pacificlife.com
PACIFIC LIFE INTRODUCES PROTECTED INVESTMENT BENEFIT
New optional benefit offers 90% protection from market declines and unlimited growth potential
NEWPORT BEACH, Calif. September 9, 2019—Pacific Life Insurance Company just introduced Protected Investment Benefit, an optional benefit available with certain Pacific Life variable annuities. As a long-term investment designed for retirement, a Pacific Life variable annuity can provide guaranteed lifetime income and unlimited growth potential. A variable annuity with Protected Investment Benefit provides 90% protection from investment declines and unlimited growth potential. The optional benefit, available for an additional cost, allows broad investment choice with up to 80% equity exposure, and investment time frames of as little as five years.
“When clients are closing in on retirement, they can’t afford to lose a lot of money – but they also can’t afford to be too conservative,” says Brian Woolfolk, FSA, MAAA, senior vice president of sales and chief marketing officer for Pacific Life’s Retirement Solutions Division. “With Protected Investment Benefit, they can choose from a variety of asset allocation options with up to 80% equity exposure and still protect 90% of the purchase payments they made in the first contract year. Unlike a structured variable annuity, there’s no cap on investment returns, so their earning potential is unlimited.”
Protected Investment Benefit fees are locked-in. Clients are charged 0.85% annually for the 5-year Protected Investment Benefit term in addition to mortality and expense risk charges, administrative fees, and investment fees. At the end of the five-year period, the rider automatically expires and there is no more charge for it.
For more information about the Protected Investment Benefit, financial professionals are invited to call a Pacific Life wholesaler at (800) 722-2333 or visit PacificLife.com.
About Pacific Life
For more than 150 years, 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 and has been named one of the 2019 World’s Most Ethical Companies® by the Ethisphere Institute. 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 2019 is compiled by Pacific Life using the 2019 FORTUNE 500® list.
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.
You 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 are available from your financial professional or at PacificLife.com. Read them carefully before investing.
Variable annuities are long-term investments designed for retirement. The value of the variable investment options will fluctuate so that shares, when redeemed, may be worth more or less than the original cost. 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 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.
Protected Investment Benefit is named “Guaranteed Minimum Accumulation Benefit” in the contract rider.
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, and are available through licensed third parties.
