Future Income Generator1 is an income benefit available with Pacific Choice Income. It provides a 6% stackable2 credit and is designed for clients who want growth, stability, and security.
Is Future Income Generator right for your clients?
Growth
6% Stackable2 annual credit for up to 10 years or until the first withdrawal.
Stability
Steady withdrawals for life, even if the contract value goes to zero.
Security
Protected lifetime income your clients can count on as high as 6.30% for ages 70 to 74.3
Lock in a 6% credit for clients today. Let's connect.
1Future Income Generator is available with Pacific Choice Income for an additional cost. An income benefit must be selected at issue.
2The term "stackable" is equivalent to a reset. A reset takes place when the contract value is greater than the protected payment base and annual credit. After a reset, the 5% annual credit amount grows based off the higher protected income base.
3The lifetime withdrawal percentage is based on the age when the first withdrawal is taken or when the first withdrawal is taken after a reset. For Joint Life, the youngest spouse’s age is used to determine the lifetime withdrawal percentage. Guaranteed withdrawals may begin at age 59½.
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.
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 income tax may apply. A withdrawal charge also may apply. Withdrawals will reduce the contract value and the value of the death benefits, and also may reduce the value of any optional benefits.
Future Income Generator is named "Guaranteed Withdrawal Benefit XXII Rider—Single Life" and "Guaranteed Withdrawal Benefit XXII Rider—Joint Life" in the contract rider.
Only one optional guaranteed minimum withdrawal benefit (GMWB) can be purchased on a variable annuity.
Not all optional benefits are available at all firms or in all states. Contact your broker/dealer or Pacific Life for more information.
Guarantees, including optional benefits, are subject to the issuing company’s claims-paying ability and financial strength. They do not protect the value of the variable investment options, which are subject to market risk.
Contract Form Series: 10-2020
Rider Series: 20-2427-1, 20-2428-1
24-462
VAQ1995-0225-NY