Pacific Life Offers New Annuity Benefit

Variable annuities from Pacific Life are designed to provide guaranteed lifetime income with growth potential, and a newly introduced optional benefit now offers protection in a volatile market too. According to a recent press release, Protected Investment Benefit provides 90% protection from investment declines and unlimited growth potential. The benefit, which is available for an additional cost, allows for broad investment choice with up to 80% equity exposure with 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,” said 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 structured variable annuity, there’s no cap on investment returns, so their earning potential is unlimited.”

Clients who purchase Protected Investment Benefit will be charged a fixed 0.85% annually for the 5-year Protected Investment Benefit term. Other fees and charges include a mortality and expense risk charge, administrative fees and investment fees. When the five-year period is up, the rider automatically expires with no additional charges. 

For more information about the variable annuity optional benefit, visit PacificLife.com.

Written by Rachel Summit

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