Newport Beach, CA (June 1, 2006) – Pacific Life Insurance Company today launched Destination IndependenceSM — a campaign designed to promote retirement security planning for the estimated 77 million baby boomers in the United States.
Destination Independence was developed to help both retirees and those planning for retirement on how to combat the effects of rising healthcare costs, inflation, and market uncertainty for their investments. Americans can only rely on their pensions and Social Security for 56 percent of their retirement income, according to the Social Security Administration.1 Many have not saved nearly enough to cover the 44 percent shortfall for what may be 25-30 years without working. Without proper planning, the end result could be a reduction in lifestyle, or worse, running out of money too soon.
Destination Independence illustrates how investments such as annuities and mutual funds can help baby boomers and retirees offset this considerable income gap and live more comfortable lives throughout retirement. The emphasis is on investment diversification and guaranteed lifetime income.
Kathleen McWard, CFP®, vice president of marketing, Annuities & Mutual Funds Division says, “Destination Independence provides compelling data alerting Americans to retirement pitfalls and goes one step further by giving real action steps to take with their financial professionals. Most people are not aware, for example, that 40% of workers are forced to retire early because of health problems, layoffs, or care giving responsibilities for family members.2 Destination Independence offers practical solutions you can implement right now to help protect yourself if this occurs.”
This innovative campaign launches with a lineup of powerful educational materials and public seminars designed for use by financial professionals. New topics and materials will be introduced each month. “We have the right products at the right point in time to help millions of Americans prepare for financial independence. The key is education,” says McWard.
Founded in 1868, Pacific Life provides life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans.3 Pacific Life counts more than half of the 100 largest U.S. companies as clients4 and is a member of the Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities.
1 LIMRA, Public Misperceptions About Retirement Security, 2005.
2 Social Security Administration, 2000.
3 Product features and availability vary by state.
4 Data compiled by Pacific Life using the FORTUNE 500® list as of April 2006.
Investors should carefully consider an investment’s risks, charges, limitations and expenses. This and other information about Pacific Life are in prospectuses available from your registered representative or by calling (800) 722-2333. Read the prospectuses carefully before investing.
Pacific Life Insurance Company is licensed to issue individual life insurance and annuity products in all states except New York. Product availability and features may vary by state. (In New York, individual life insurance and annuity products are offered through Pacific Life & Annuity Company. For additional information about Pacific Life & Annuity Company, including its current financial strength ratings, visit the company Web site at www.PacificLifeandAnnuity.com.
Variable annuities are issued by Pacific Life Insurance Company and like Pacific Funds, are distributed by Pacific Select Distributors, Inc. (member NASD & SIPC), a subsidiary of Pacific Life, and are available through licensed third party broker/dealers.
No bank guarantee. Not a deposit. Not FDIC/NCUA insured. May lose value. Not insured by any federal government agency.