SOURCE: Pacific Life

June 01, 2015 15:17 ET

Pacific Life Launches New Fixed Indexed Annuity Exclusively for Independent Insurance Agents

NEWPORT BEACH, CA--(Marketwired - Jun 1, 2015) - Pacific Life, a highly rated and widely recognized annuity provider, has expanded its distribution network with the launch of a new fixed indexed annuity to independent insurance agents and agencies. The newly introduced product, Pacific Index Dimensions(SM), is available exclusively to agents and agencies that contract with the company through its Pacific Life Producer Alliance Program.

"Independent agents have told us that annuities from strong, well-known providers are particularly appealing to clients," says Christine Tucker, vice president of marketing for Pacific Life's Retirement Solutions Division. "Pacific Index Dimensions is a new opportunity to offer such a product and is designed with features the independent insurance professional will find valuable."

Agents contracted through the Pacific Life Producer Alliance Program have access to the company's extensive wholesaler support, as well as dedicated service from a company that has won numerous awards from DALBAR1 for excellence in financial professional service and service to clients

Pacific Index Dimensions includes features that distinguish the product from other fixed annuities, such as:

  • Simplicity and transparency through index-linked crediting options that are based on two well-known indexes: the Standard & Poor's 500 and the MSCI EAFE®.
  • A highly competitive seven-year surrender charge schedule.
  • An Enhanced Participation Rate option that provides an alternative crediting method to capped interest or traditional fixed-interest-rate crediting methods.
  • Optional Guaranteed Minimum Withdrawal Benefit for lifetime income without giving up control of the asset.

For more information about Pacific Index Dimensions, or about becoming a Pacific Life Producer Alliance contracted agent, financial professionals can call (888) 200-4372 or visit www.PLProducerAlliance.com.

1 Recipient of multiple DALBAR Service Awards since 1997. Refer to www.DALBAR.com for more information regarding awards, certification, and rankings.

About Pacific Life
Offering insurance since 1868, Pacific Life provides 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. Pacific Life counts more than half of the 100 largest U.S. companies as its clients. 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 2014 is compiled by Pacific Life using the 2014 FORTUNE 500® list.

Pacific Index Dimensions is not available in New York.

Fixed annuities are long-term contracts designed for retirement.

Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. Each company is solely responsible for the financial obligations accruing under the products it issues. Insurance product and rider guarantees are backed by the financial strength and claims‐paying ability of the issuing company.

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 59 1/2, an additional 10% federal tax may apply. A withdrawal charge and a market value adjustment (MVA) also may apply. Withdrawals may reduce the value of the death benefit and any optional benefits.

IRAs and qualified plans -- such as 401(k)s and 403(b)s -- are already tax-deferred. Therefore, a deferred annuity should be used only to fund an IRA or qualified plan to benefit from the annuity's features other than tax deferral. These include lifetime income and death benefit options.

The Product and its MSCI EAFE® Index-Linked Options referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such Products or any index on which such Products are based. The Policy Contract contains a more detailed description of the limited relationship MSCI has with Pacific Life Insurance Company and any related products.

The S&P 500 index is a product of S&P Dow Jones Indices LLC ("SPDJI"), and has been licensed for use by Pacific Life Insurance Company. S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Pacific Life.

Pacific Life's product is not sponsored, endorsed, sold, or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s), nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 index.

The indexes are not available for direct investment, and index performance does not include the reinvestment of dividends.

Documents and/or Photos available for this release:

"Pacific Index Dimensions is designed with features the independent insurance professional will find valuable," says Christine Tucker, vice president of marketing for Pacific Life's Retirement Solutions Division.

To view supporting documents and/or photos, go to www.enr-corp.com/pressroom and enter Release ID: 387346

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