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About Pacific Life


Media Contact:
Tennyson Oyler
(949) 219-3248
 For Immediate Release

Pacific Life Offers More Value with Pacific ChoiceSM, a New Variable Annuity
New Product Gives Investors The Power of Choice® to Meet Individual Needs

Newport Beach, CA (May 9, 2013)-What do you value in a retirement product? Pacific Choice, a new variable annuity from Pacific Life Insurance Company, gives investors The Power of Choice-the ability to select features and fees that align with the investor's personal needs and values.

For financial advisors, Pacific Choice also offers more value. By making the most popular features of three top-selling Pacific Life variable annuities available through a single product, advisors can serve a variety of investors with one prospectus, one sales kit, and one application. The result: greater simplicity and ease of doing business.

Aligning Pacific Choice with an individual's values begins with choice among key features that are important to investors-lower costs and enhanced access to account values. Investors have the ability to select any one of three withdrawal/fee options:

  • A 5-year withdrawal charge option for 1.20% mortality and expense risk charge (M&E) and administrative fees
  • A 3-year withdrawal charge option for 1.50% M&E and administrative fees
  • No withdrawal charges for 1.60% M&E and administrative fees

No matter which withdrawal charge option is selected, investors receive the same standard and optional product features to help grow retirement savings, make retirement income last, and achieve legacy goals. Pacific Choice is a long-term investment designed for retirement. It helps investors:

  • Grow retirement savings faster through the power of tax deferral.
  • Protect against inflation and market volatility through a diverse choice of investment options.
  • Manage an investment strategy by transferring among investment options free of tax consequences.
  • Convert assets to guaranteed lifetime retirement income.
  • Leave a financial legacy through a guaranteed death benefit.

"Pacific Choice was created in response to what we've been hearing in the marketplace," says Christine Tucker, vice president of marketing, Pacific Life's Retirement Solutions Division. "Advisors are increasingly focused on the core variable annuity benefits of tax-deferral, guaranteed income, and legacy, all at a lower cost. We've packaged all these in a product that really brings value in terms of ease of doing business and client appeal. We've long prided ourselves on 'The Pacific Life Experience'-our simple, straightforward, and positive approach to serving advisors. Pacific Choice adds an entirely new dimension to that experience."

Financial advisors are invited to learn more about Pacific Choice by visiting the Pacific Life website at or calling a Pacific Life consultative wholesaler at (800) 722-2333.

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 About Pacific Life section of this website. 

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of May 2013 is compiled by Pacific Life using the 2013 FORTUNE 500® list.

This material is not intended to be used, nor can it be used by any taxpayer, for the purpose of avoiding U.S. federal, state, or local tax penalties. This material is written to support the promotion or marketing of the transaction(s) or matter(s) addressed by this material. Pacific Life, its distributors, and respective representatives do not provide tax, accounting, or legal advice. Any taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor or attorney.

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 are available from a financial advisor or by calling (800) 722-2333. Read them carefully before investing.

The value of the variable investment options will fluctuate and, when redeemed, may be worth more or less than the original cost. 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 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, death benefit options, and the ability to transfer among investment options without sales or withdrawal charges.

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. 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 insurance company is solely responsible for the financial obligations accruing under the products it issues. Insurance product and rider guarantees, including optional benefits and any fixed subaccount 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.

Variable insurance products, as well as shares of the Pacific Select Fund, are distributed by Pacific Select Distributors, Inc. (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company and an affiliate of Pacific Life & Annuity Company (Newport Beach, CA), and are available through licensed third-party broker/dealers.