Consider Pacific Advisory Variable Annuity for pre-retirees and retirees who:
Optimize clients’ financial plans through our cost-conscious investment options and the power of tax-deferred growth potential with:
We confidently encourage you to compare the costs of this variable annuity with those of other providers. Please reach out to one of our managing directors for the information needed to evaluate the all-in cost of this variable annuity.
Total Variable Annuity Cost1
0.45% (plus investment options)
Total Cost Breakdown
Annual Contract Fee
None
Commission Charges
None
Surrender Charges
None
Mortality and Expense Risk Charge and Administrative Fees
0.30% per year of each subaccount's assets, deducted daily.
Investment Platform Fee (no hidden revenue charges for underlying investment options)1
0.15% per year of each subaccount's assets, deducted daily.
Total Gross Fund Expense Range²
0.03% - 1.96% (annually of each fund's average daily net assets)
Total Net Fund Expense Range2
0.03%–1.00% (annually of each fund's average daily net assets)
1Total variable annuity cost does not include costs for optional benefits or advisory fees. Investment Platform Fee is named “Platform Fee” in the prospectus.
2For more information, see the applicable fund prospectus. Expenses are subject to change.
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.
Advisory Fee Withdrawals3
You can withdraw advisory fees directly from your client's contract. When paid from nonqualified (previously taxed) contracts, these withdrawals are not treated as taxable distributions and will not reduce optional benefit values if the fee does not exceed an annual rate of 1.50% of the account value4 during the calendar year. Withdrawals from the contract to pay advisory fees will reduce the account value.
Systematic Withdrawals
Clients can stay invested in the markets and set up a withdrawal schedule of their choosing.
Preauthorized Withdrawals
Minimum of $250 per withdrawal. If deposited electronically into a checking or savings account, minimum withdrawal is $100.
Protected Lifetime Income
Pacific Advisory Variable Annuity has both built-in and optional features designed to make sure your client's money lasts a lifetime.
Clients can choose to annuitize all or a portion of their account value to create income for their life, two lives, or for a specified period. Please see the prospectus for more information on electing annuity income payments and the available annuity income options.
Clients can elect Portfolio Income Protector, an optional benefit available for an additional cost, to help address certain financial risks in retirment and provide protected income for life or two lives. See the "Optional Living Benefits" section to learn more.
3Advisory fee withdrawals are limited to 1.50% of the account value for the calendar year if a living benefit is elected. If a living benefit is not elected, withdrawals for advisory fees that exceed an annual rate of 1.50% of the account value during the calendar year may reduce the death benefit amount provided by the optional death benefit by more than the actual excess withdrawal amount. (Source: PLR 201946001, IRC Section 72).
4The account value is the annuity contract value.
If death occurs before annuity income payments begin, the death benefit options below are payable upon the death of the first owner (in all states except CA). For contracts in CA or 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: Clients can leave a death benefit to their beneficiaries equal to the account value.
Optional Return of Investment Death Benefit: Available for an additional cost of 0.15%, beneficiaries receive the amount of the account value or the total of all purchase payments5 into the account—whichever is greater. Maximum issue age is 85.
5The total purchase payment amount is adjusted proportionately for withdrawals and for advisory fee withdrawals in excess of 1.50% of the account value during the contract year. There will be no adjustment for advisory fee withdrawals that are less than or equal to the annual rate of 1.50% of the account value during a calendar year.
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.
Maximum Annuitant/Owner Issue Age: 90 (85 in New York)
Maximum Annuitization Age: 100 (90 in New York)
State variations may apply.
Pacific Advisory Variable Annuity brings clients carefully curated and institutionally priced investments from globally recognized asset managers and offers:
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.
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 variable annuities are provided in the product and underlying fund prospectuses. These prospectuses should be read carefully before investing.
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.
Net fund expenses reflect any fee waivers or expense reimbursements. For more information, see the applicable fund prospectus.
Expenses are subject to change, and there is no guarantee that the investment adviser will continue to waive and/or reimburse fund fees beyond their current terms as outlined in each fund prospectus. In addition, please refer to the variable annuity product prospectus for additional product fees and charges.
Return of Investment Death Benefit is named “Return of Purchase Payment Death Benefit Rider” in the contract.
Pacific Life Fund Advisors LLC (PLFA), a wholly owned subsidiary of Pacific Life Insurance Company, is the investment adviser to the Pacific Select Fund (PSF). PLFA directly manages certain PSF funds-of-funds.
Unless otherwise noted, all aforementioned money managers, their distributors, are not affiliated companies of Pacific Life and Pacific Select Distributors, LLC.
Pacific Life refers to Pacific Life Insurance Company and its subsidiary Pacific Life & Annuity Company. Insurance products can be issued in all states, except New York, by Pacific Life Insurance Company and in all states by Pacific Life & Annuity Company. Product/material availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues.
Insurance product and rider guarantees, including optional benefits and any fixed crediting rates or annuity payout rates, are backed by the financial strength and claims-paying ability of the issuing insurance company and do not protect the value of the variable investment options. They are not backed by the broker-dealer from which this annuity is purchased, by the insurance agency from which this annuity is purchased, or any affiliates of those entities, and none makes any representations or guarantees regarding the claims-paying ability of the issuing insurance company.
Variable insurance products are distributed by Pacific Select Distributors, LLC (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company and an affiliate of Pacific Life & Annuity Company.
The home office for Pacific Life & Annuity Company is located in Phoenix, Arizona. The home office for Pacific Life Insurance Company is located in Omaha, Nebraska.
Contract Form Series: ICC20:10-1040, 10-2040; Rider Series: ICC20:20-1040, 20-2040; State variations to contract form and rider series may apply.
For financial professional use only. Not for use with the public.
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