Offering downside protection and unlimited growth potential, Protected Investment Benefit can help clients feel more confident about investing or staying invested in volatile markets.
Protected Investment Benefit is only available in New York.
Consider Pacific Odyssey® variable annuity with Protected Investment Benefit for retirees and pre-retirees who:
If you have clients who are hesitant to invest when the markets are volatile, Protected Investment Benefit is an optional benefit that can be added to Pacific Odyssey variable annuity for an additional cost.
Downside Protection
If the contract value is less than the protected amount at the end of the selected option, Pacific Life will make up the difference.
Unlimited Growth Potential
With the purchase of a variable annuity from Pacific Life, clients have the potential for market gains through the performance of their chosen investment options.
Annual Charge:
5-Year Option – 1.20%
7-Year Option – 1.20%
Charges are as of 5/1/24. The charge is an annual percentage of the charge base and deducted quarterly. The charge base is equal to purchase payments made in the first year, minus an adjustment for withdrawals. The charge is set at contract issue and will not change while the optional benefit is in effect.
Withdrawals during the term reduce the protected amount on a proportionate basis. This adjustment can be more or less than the amount withdrawn.
Maximum Issue Age: 85 (5-Year Option)
83 (7-Year Option)
Choose from a diverse set of benefit-eligible investment options that offer flexibility and increased equity exposure of up to 80%.
Guarantees, including optional benefits, are subject to the issuing company's claims-paying ability and financial strength and do not protect the value of the variable investment options, which are subject to market risk.
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 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.
Purchase payments made after the first contract year will not be protected under the optional benefit. Any additional purchase payments made after the first contract anniversary will increase the contract value and may reduce the benefit provided by the rider.
Pacific Life & Annuity Company is licensed to issue insurance products in all states, including New York. Product/material availability and features may vary by state.
Variable insurance products are distributed by Pacific Select Distributors, LLC (member FINRA & SIPC) an affiliate of Pacific Life & Annuity Company.
The home office for Pacific Life & Annuity Company is located in Phoenix, Arizona.
Contract Form Series: 10-278NY-1
Rider Series: 20-2354, 20-2355
For financial professional use only. Not for use with the public.
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