Pacific Mariner 2 ^®

A Deferred, Fixed Annuity

Pacific Mariner 2 is not available in in New York.

Pacific Mariner 2 offers certainty through rates that are guaranteed for the entire withdrawal charge period and a purchase payment guarantee. There is no annual contract, mortality and expense, or administrative fees.

Client Profiles

Consider Pacific Mariner 2 for:

Conservative pre-retirees and retirees.
Savers interested in steady growth potential without market risk.

Key Features

Rates Guaranteed for the Initial Guaranteed Period

Choice of:

3 years
5 years
7 years

Guaranteed Return of Premium (optional feature available only at issue)

Upon a full withdrawal, your client will receive an amount at least equal to:

Total purchase payments, minus prior partial withdrawals including any withdrawal charges on those prior partial withdrawals.

If no partial withdrawals are taken prior to the full withdrawal, then your client will always receive an amount at least equal to the total purchase payments. Election of this optional benefit may result in a lower initial guaranteed rate in the contract than had your client not elected this benefit.

Non-Guaranteed Return of Premium

Upon a full withdrawal, your client will receive an amount equal to:

The greater of the contract value, minus any applicable withdrawal charges or the guaranteed minimum surrender value.

Additional Information

Withdrawal Charges and Fees

The initial guaranteed periods correspond to the withdrawal charge schedule. Withdrawal charges apply only during the initial guaranteed period when the amounts taken are more than those discussed in the "Withdrawals without Charge" section below.

3 Years

Contract Year	1	2	3
Charge per Withdrawal	8%	8%	7%

5 Years

Contract Year	1	2	3	4	5
Charge per Withdrawal	8%	8%	7%	7%	6%

7 Years

Contract Year	1	2	3	4	5	6	7
Charge per Withdrawal	8%	8%	7%	7%	6%	5%	4%

Withdrawals without Charge

Withdrawals are permitted 30 days after contract issue. In the first contract year, 10% of the total purchase payments may be withdrawn without charge. For each subsequent contract year, 10% of the contract value as of the prior contract anniversary may be withdrawn without charge.

In addition, withdrawal charges will be waived for:

Required minimum distribution (RMD) withdrawals (if calculated by Pacific Life).
Withdrawals after the first contract year if diagnosed with a terminal illness (life expectancy of 12 months or fewer). Not available in CA.
Withdrawals after the first 90 days if confined to an accredited nursing home for 30 days, as long as not confined when the contract is issued. Not available in CA.
Death benefit proceeds.
Annuity income payments (available one year after contract issue).

The interest rate credited on the initial purchase payment is guaranteed for the duration of the initial guaranteed period selected. Only one period may be selected per contract. After the initial guaranteed period expires, and on all subsequent contract anniversaries, a renewal rate will be declared by Pacific Life and is guaranteed for one contract year. The renewal rate will never be lower than the minimum guaranteed interest rate stated in the contract.

The interest rate credited will depend on the total of all purchase payments received.

The breakpoints are:

Less than $50,000
$50,000—$99,999
$100,000—$249,000
$250,000 and more

If a purchase payment received after issue causes the amount of the total purchase payments (minus withdrawals) to exceed the current breakpoint, the crediting rate may be increased. Not all premium breakpoints may be available for all initial guaranteed periods.

Clients may convert the contract to annuity income payments one year after contract issue.

Annuity Income Options Available

Life Only
Life with Period Certain (5-30 years¹)
Joint and Survivor Life²
Period Certain Only (up to 30 years¹)

Type

Fixed annuitization only.
Partial annuitization is not available.

Frequency

Monthly, quarterly, semiannually, annually

Minimum Annuity Income Payment Amount

$240

Death Benefit

If death occurs before annuity income payments begin, a death benefit equal to the contract value is paid at the death of the first owner or the last annuitant.

Limited-premium. All cash purchase payments must be submitted with the application. 1035 exchange/transfer requests must be submitted with the application, and the funds must be received within 90 days after contract issue.

Minimum Purchase Payment: $10,000 (qualified and nonqualified).

Maximum Purchase Payments: $1 million; total purchase payments greater than $1 million require Pacific Life home-office approval in advance.

Guarantees are subject to the claims-paying ability and financial strength of the issuing insurance company.

¹For qualified contracts, the maximum length of time for the Period Certain options may not exceed 10 years, if necessary, to comply with required minimum distribution (RMD) regulations for annuities stipulated in the Setting Every Community Up for Retirement Enhancement (SECURE) Act.

²Not available on qualified contracts.

³For qualified contracts, the Joint Life options require that the joint annuitant be a spouse or an individual older than or no more than 10 years younger than the primary annuitant.

Broker/dealer and state variations may apply. Contact your broker/dealer for availability.

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.

No guaranteed rate will be less than the minimum guaranteed rate stated in the contract. Pacific Life determines, at its discretion, annual interest rates in excess of the stated minimum guarantee in the contract.

Pacific Mariner 2 (ICC20:30-1339-B), including the rider (ICC20:20-1339), are issued by Pacific Life. Contract form series and rider series may vary by state.

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Pacific Mariner 2 ®