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What is Pacific Life Annuities?
Purchasing Pacific Life Annuities is an indicator that you are buying yourself a promise. A promise that Pacific Life will always be there for you. A lot of people trust Pacific Life to protect what matters most to them.
Pacific Life is striving to do the right thing to you. By protecting your assets and your loved ones. The company offers different kind of products. Pacific Life Annuities, Life Insurance and mutual funds.
Pacific Life are highly invested in your financial future just as you do. The main focus of this article is about Pacific Life Annuities. In order to fully understand it let’s take a look what is an annuity and how does it work.
Annuity is an insurance product that guarantees income for a certain amount of time during your retirement. It can also be a part of you strategy in order to have financial freedom in your retirement years. Having a good plan for their retirement is a must. Annuities are another way to plan your future. It can create a guaranteed income and play a vital role in your retirement strategy.
Usually, most companies offer 4 different types of annuities. But pacific life annuities offer 5 annuity products.
5 different types of Pacific Life Annuities
Pacific Life Variable Annuity
Pacific Life Variable annuity consist of 4 products. These are Pacific Choice. Wherein it offers access to your money after five years without withdrawal charges. Pacific Odyssey, an annuity for investors. It gives you instant access to your money without withdrawal charges. Pacific Choice Income, that is designed to provide a stream of income for life. It also gives you full access to your money after seven years. Last is Pacific Advisory Variable, It is a fee friendly annuity. If you are looking for a suite cost-conscious investment option this will fit you well. This plan also has immediate access to your money. They also offers optional benefits in order to protect your money from the market.
There’s several types of optional benefits that they offer on pacific life variable annuity.
- Lifetime Withdrawals – This will enable you to take steady, lifetime withdrawals, no matter how volatile the markets are.
- Investment Protection – This will protect your initial investment by minimizing the loss from a down market.
- Family Protection – If something happens to you that leads to death. Optional death benefits can lock in market gains for beneficiaries. It can also help offset the impact of taxes.
Take note that optional benefits requires additional cost.
Pacific Life Fixed Indexed Annuities
This plan protects your principal, while providing opportunity to grow. Fixed indexed annuity consists of 3 products. These are Pacific Index Foundation. Wherein it offers customer interest-crediting options that are based on the S&P 500, Index and MSCI EAFE . Pacific Life Index Edge. Which also offers interest-crediting options but based on S&P 500, Index and Blackrock Endura Index. Lastly is the Pacific Index Advisory that offers customers working with fee-based financial professionals.
There’s an optional benefit wherein it enhances your fixed indexed annuity. They also offer beneficiary protection that requires additional costs. If something happen or you pass away unexpectedly. The death benefit can increase the amount you leave to your beneficiary.
Pacific Life Fixed Annuity
Designed to protect principal while providing reliable growth. It is based on a fixed rate of interest. It also allows you to grow your savings faster by deferring taxes. They offer the Pacific Expedition 2. Wherein it guarantees interest rate that is locked in for the whole period.
Pacific Life Fixed Annuity Rates
Pacific life fixed annuity rates allows you to choose between 3,5 or 7 years. Rates for each products are different. You can see different pacific life fixed annuity rates here.
Pacific Life Immediate Annuities
The immediate annuity offers Pacific Income Provider. It gives you ability to create a single payment. It also gives you immediate income on a regular basis. In other words, it provides reliable income quickly or within the year of purchase. This plan can help you tailor income in order to fit your needs.
Pacific Life Annuities Deferred Income
Pacific Secure Income is a deferred income product that gives you the ability to supplement other income in the future. Making payments today will lock the income that you can take later in life.
In short, it provides reliable income that will begin in the future or on the date that you like. This plan can tailor income that will fit your needs and create a stream of income that will last longer.