A new fee-based fixed indexed annuity is now available from Pacific Life, according to a press release from the company’s website. Pacific Index AdvisorySM was created with with clients who are looking for growth potential in mind. It provides principal protection while giving the opportunity to grow contract value through market-based interest crediting. Pacific Index Advisory allows advisors to offer this opportunity as a fee-based solution in addition to the standard commission-based products already available.
“Until recently, there haven’t been a lot of choices for fee-based solutions that provide guaranteed retirement income,” says Christine Tucker, vice president of marketing for Pacific Life’s Retirement Solutions Division. “This new fee-based fixed indexed annuity offers advisors more choice and flexibility when developing their clients’ portfolios.”
The addition of Pacific Index Advisory marks the second of its kind from Pacific Life. The company also offers a fee-based variable annuity, Pacific Odyssey®, which was designed for fee-conscious investors. According to the press release, Pacific Odyssey is cost-efficient, with mortality & expense and administrative charges of just 0.30% annually, with no withdrawal charges. Both fee-based products are commission-based alternatives offering optional benefits at an additional cost. These added perks include lifetime income or leaving a financial legacy to beneficiaries.
“Even in the midst of uncertainty about the DOL Fiduciary Rule, keeping in mind the best interests of our clients is paramount,” says Tucker. “Offering solutions that give advisors and clients a choice of a fee-based or commission-based structure helps us achieve that goal while helping clients achieve their retirement income goals.”
Pacific Life has been offering insurance products since 1868. Their line-up includes life insurance, annuities, mutual funds, and other investment products and services for individuals, businesses, and pension plans. More than half of the 100 largest companies in the United States use Pacific Life products. For more information, visit www.PacificLife.com.
Written by Rachel Summit