Pacific Life Announces Fee-Only Fixed Indexed Annuity Without Withdrawal Charges
Pacific Advisory Fixed Indexed Annuity Offers Potential for Growth With No Market Risk.
NEWPORT BEACH, Calif. (May 3, 2022)—Building on its drive to be the annuity company of choice for registered investment advisors (RIAs) and their fee-only advisors, Pacific Life announced today the launch of Pacific Advisory Fixed Indexed Annuity, an advisory fee-friendly solution without withdrawal charges that ensures principal protection combined with growth potential based on the performance of market-based indexes.
“With today’s extreme volatility in both equity and fixed-income markets, it’s an excellent time to offer a strategy that provides a much needed combination of protection and growth potential,” said Doug Mantelli, vice president of RIA strategy at Pacific Life. “Combining principal protection with the ability to earn interest based on positive performance of well-known and easy-to-track major market indexes, Pacific Advisory Fixed Indexed Annuity allows clients to pursue growth without directly investing in the market or taking on market risk.”
“There is growing demand for hybrid-type vehicles that combine varying levels of protection and growth. The market is being inundated with what we believe to be opaque offerings, and clients may not readily understand the benefits or tradeoffs,” said Ryan Stowe, assistant vice president of product management at Pacific Life. “Fiduciaries who like the idea of offering clients a vehicle that will not lose principal, and can earn interest similarly to other fixed-rate offerings, will want to look at Pacific Advisory Fixed Indexed Annuity.”
Pacific Advisory Fixed Indexed Annuity offers three important features:
- Principal protection combined with growth potential tied to major market indexes.
- Elimination of withdrawal charges, so clients have access to their money without worry of surrender schedules and charges.
- A fee-friendly structure allows advisors to withdraw an advisory fee of up to 1.50% of the contract value directly from the annuity without creating a taxable event or reducing credited index-linked interest.
The Pacific Life Advisory team is dedicated to creating competitive, fee-based annuities and helping financial professionals incorporate them into their practices. Pacific Advisory Fixed Indexed Annuity is now available through the Pacific Life Advisory Solutions Desk. For more information or to request a case design, contact a managing director at PacificLifeAdvisory@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 was named one of the 2022 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 2021 is compiled by Pacific Life using the 2021 FORTUNE 500® list.
2022 World’s Most Ethical Companies® is based on the Ethisphere Institute’s Ethics Quotient®. “World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC.
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.
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 market value adjustment (MVA) also may apply. Withdrawals will reduce the contract value and the value of the death benefit.
Pacific Life Insurance Company is licensed to issue insurance products in all states except New York. Product availability and features may vary by state. Annuity products are not FDIC insured, may lose value, and are not guaranteed by any bank.
Fixed annuity products issued by Pacific Life (Newport Beach, CA) are available through licensed, independent third parties.
FAC2594RIA-0522E