Pacific Life Insurance has introduced a new variable annuity, Pacific Choice, aimed to grow retirement savings faster for investors through the power of tax deferral.
The new variable annuity will provide the power of choice for investors while enabling them to select features and fees that align with the investor's personal needs and values.
Available through a single product, the Pacific Choice variable annuity offers greater simplicity and eases doing business and can serve a variety of investors with one prospectus, one sales kit, and one application.
The Pacific Choice provides three withdrawal/fee options, which includes a 5-year withdrawal charge option for 1.20% mortality and expense risk charge (M&E) and administrative fees as well as no withdrawal charges for 1.60% M&E and administrative fees.
Capable of lowering costs and enhancing access to account values, the annuity also offers a 3-year withdrawal charge option for 1.50%M&E and administrative fees.
