A variable annuity designed to provide clients with retirement income when and how they want it through one of two income benefits.
Pacific Choice Income
A Deferred Variable Annuity
Choices for Growing and Protecting Income
At contract issue your client must select either the Enhanced Income Select 2 or Future Income Generator income benefit.
Growth Potential
- Choose from eligible investment options to facilitate growth with the flexibility to adjust as clients’ needs change.
- Access to all 98 investment options when Future Income Generator is selected (in all states except New York) for full open architecture.
- Obtain unlimited growth potential and tax deferral.
Flexible Protected Income
Add Enhanced Income Select 2 (all states except New York) to:
- Help clients grow future retirement income through annual credits and resets.1
- Help maximize income.
- Create flexibility through an Income Rollover feature.
Steady Protected Income
Add Future Income Generator (or Future Income Generator in New York) to:
- Help clients grow future retirement income through annual credits and resets.1
- Lock in steady income clients can count on for life, even if the contract value goes to zero.
Wealth Transfer
Add Optional Return-of-Premium Death Benefit which may provide an amount that can be passed down to the next generation.
Key Details
For complete product details view the Pacific Choice Income Fact Sheet →
Purchase Payments
Qualified
$2,000 initial
$50 subsequent
Nonqualified
$10,000 initial
$250 subsequent
For aggregate purchase payments totaling more than $1 million, contact Pacific Life for approval.
Charges & Fees
0.90%
M&E Risk Charge
(contract value death benefit)
0.25%
Administrative Fee
0.15%
Return-of-Premium Death Benefit
$50
Annual Contract Fee
In All States Except New York
0.28%—1.86%
Total Gross Fund Expense Range
0.28%—1.58%
Total Net Fund Expense Range
In New York
0.62%—1.54%
Total Gross Fund Expense Range
0.59%—1.19%
Total Net Fund Expense Range
1.45% - Single Life / 1.55% - Joint Life
Enhanced Income Select 2 Fee
1.45% - Single Life / 1.55% - Joint Life
Future Income Generator Fee
Access to Money
Contract Year |
Charge per |
Charge per |
|
|---|---|---|---|
| 1 | 9% | 8% | |
| 2 | 8% | 8% | |
| 3 | 7% | 7% | |
| 4 | 6% | 6% | |
| 5 | 5% | 5% | |
| 6 | 4% | 4% | |
| 7 | 3% | 3% |
Performance and Resources
Take the Next Step
Start A Conversation
How may we support you? Let's talk about:
- A specific client scenario
- Getting appointed
- Running an illustration (if non-appointed)
- Any other questions you might have
1A reset may not apply, depending on the performance of the contract over time.
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 are provided in the product and underlying fund prospectuses. These prospectuses should be read carefully before investing.
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 an additional 10% federal income 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.
The value of the variable investment options will fluctuate so that shares, when redeemed, may be worth more or less than the original cost.
Enhanced Income Select 2 is named “Guaranteed Withdrawal Benefit XXIII Rider – Single Life” and “Guaranteed Withdrawal Benefit XXIII Rider – Joint Life” in the contract rider.
Future Income Generator is named “Guaranteed Withdrawal Benefit XXII Rider – Single Life” and “Guaranteed Withdrawal Benefit XXII Rider – Joint Life” in the contract rider.
Contract Form Series: ICC20:10-1020 (state variations may apply)
Rider Series: ICC20:20-1021, ICC20:20-1022, ICC19:20-1427, ICC19:20-1428, ICC20:20-1020 (state variations may apply).
Insurance product and rider guarantees, including optional benefits and any fixed crediting rates or annuity payout rates, are backed by the financial strength and claims-paying ability of the issuing insurance company and do not protect the value of the variable investment options. They are not backed by the broker/dealer from which this annuity is purchased, by the insurance agency from which this annuity is purchased, or any affiliates of those entities, and none makes any representations or guarantees regarding the claims-paying ability of the issuing insurance company.
24-182A
VAQ2016-1124 11/24