DISCONTINUED PRODUCT - Product not available to new enrollees.
Pacific Innovations Select
Product ID: 9
Vendor:
Type:
Variable Annuity
Discontinued 
$288
0.93%
3 Years / 7.00%
Yes
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Address: - Product Details
- Fees and Charges
- Investment Options
3-year surrender variable annuity
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Choose among three methods to select investment options that best fit your financial needs, time horizons, and risk tolerance. 1) Create Your Own Portfolio – with access to a portfolio lineup of money managers, you can pick and choose your investment options to create your own customized portfolios. 2) Portfolio Optimization – developed by Pacific Life with asset allocation modeling by Ibbotson Associates, Inc., a wholly owned subsidiary of Morningstar, Inc. It offers five models that are diversified among multiple money managers, individual investment options, and asset class styles. 3) Asset Allocation Strategies – offered through respected and well-known money managers, these strategies present a unique range of asset allocation opportunities.
Automatic Rebalancing: Quarterly, semiannually, annually from contract date; no minimum balance.
Dollar Cost Averaging:
DCA from the variable options to other options either monthly, quarterly, semiannually or annually. Source must hold $5,000. Each transfer must be $250 or more.
DCA Plus Fixed Option- Enhanced rate for 6 or 12 months.Monthly transfers only. Must start investing in the DCA Plus Fixed Option with a new money minimum purchase payment of $5,000.
Investment transfers are limited to 25 per calendar year with no charges.
Clients can take up to 10% annually of total purchase payments without a charge.
Clients can take up to 10% annually of total purchase payments without a charge.
The standard death benefit offers the greater of: 1. The contract value. 2. The total of all purchase payments into the contract, adjusted for withdrawals.
Certain Owners of Qualified Contracts may borrow against their Contracts; otherwise loans from us are not permitted. You may request a loan from us, using your Contract Value as your only security if yours is a Qualified Contract that is:
not subject to Title I of ERISA,
issued under 403(b) of the Code, and
permits loans under its terms (a "Loan Eligible Plan").
You will be charged interest on your Contract Debt at a fixed annual rate equal to 5%. The amount held in the Loan Account to secure your loan will earn a return equal to an annual rate of 3%. This loan rate may vary by state.
See Prospectus for details.
Pacific Life can assist in calculating RMDs
Riders are amendments to the annuity contract that typically add to your costs. make sure you inquire about any additional costs. The following riders exist for this product:
Withdrawal charge is waived for a medically determinable condition that indicates a life expectancy of 12 months or less (after the first contract year).
Nursing home waiver:
Withdrawal charge is waived if confined to an accredited nursing home for 60 days or longer if confinement occurs after 90 days from the contract issue date.
Withdrawal charge is waived if confined to an accredited nursing home for 60 days or longer if confinement occurs after 90 days from the contract issue date.
Periodic payments are made to the designated payee during the lifetime of the Primary Annuitant. After the death of the Primary Annuitant, periodic payments will continue to be made during the lifetime of the secondary Annuitant named in the election. You may choose to have the payments to the surviving secondary Annuitant equal 50%, 662/3% or 100% of the original amount payable made during the lifetime of the Primary Annuitant. Payments stop when both Annuitants have died. See Prospectus for details.
Periodic payments are made to the designated payee during the Annuitant's lifetime. Payments stop when the Annuitant dies.
Periodic payments are made to the designated payee during the Annuitant's lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed for anywhere from 5 through 30 years (in full years only).
Periodic payments are made to the designated payee over a specified period. You may choose to have payments continue for anywhere from 5 through 30 years (in full years only).
All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can
substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact
of fees, and the different types of fees please refer to the
Explanation of Fees piece located in the
Help & Resources.
Fees
|
|
0.25% | Annually | Percentage of Annual Assets | No | No | Yes |
|
|
$30.00 | Annually | Flat Dollar Amount | Yes | No | Yes |
|
|
1.40% | Annually | Percentage of Annual Assets | No | No | Yes |
Surrender Charges
| Surrender Period* | Surrender Percentage |
|---|---|
| 1 | 7.00% |
| 2 | 6.00% |
| 3 | 4.00% |
*Expressed in contract years
Surrender Penalty Charge assessed on a "rolling" basis:
Surrender Period: 3 years (per investment)
Withdrawal Charge: 7, 6, 4% (per investment)
Exceptions to the Surrender Charge:
Other Restrictions:
Exceptions to the Surrender Charge:
Death:
Yes
Nursing Home or Other Medical Expenses:
Yes
Subject to medical evidence satisfactory to us, after the first Contract Anniversary, full or partial withdrawals if the Owner or Annuitant has been diagnosed with a medically determinable condition that results in a life expectancy of twelve (12) mo
