NEWPORT BEACH, CA--(Marketwired - Dec 3, 2013) - Amid today's economic fluctuations, financial advisors want their clients to have every possible advantage as they build retirement income. That's why Pacific Life Insurance Company has launched Pacific Income Advantage. This innovative, new addition to Pacific Life's diverse annuity product line combines the advantages of a traditional deferred fixed annuity -- including safety of principal, interest-rate guarantees, tax deferral, and death benefit protection -- with a built-in Guaranteed Withdrawal Benefit that includes a 6% Annual Credit for deferring income.

"This is about taking the appeal of deferred fixed annuities a step further," says Christine Tucker, vice president of marketing, Pacific Life's Retirement Solutions Division. "With Pacific Income Advantage, financial advisors can offer clients guaranteed interest rates and tax-deferred interest-compounding. The features help reduce worries about market volatility, short-term interest-rate fluctuations, and taxation while assets accumulate. When clients are ready to take income, the Guaranteed Withdrawal Benefit adds another dimension to these advantages."

The Guaranteed Withdrawal Benefit is included for an additional cost and allows clients to begin taking lifetime withdrawals for retirement while the contract continues to earn interest. Plus, the benefit includes a 6% Annual Credit that can increase the total amount available for lifetime withdrawals, and this amount is called the Protected Payment Base. Each year the client delays taking withdrawals -- for up to 10 years -- 6% is added to the Protected Payment Base. This credit can really add up. For example, a client who purchases Pacific Income Advantage with $100,000 would initially have a $100,000 Protected Payment Base. If the client waits 10 years before beginning withdrawals, the Protected Payment Base would grow to $160,000.

"Financial advisors know that addressing a client's retirement needs isn't a 'one-size-fits-all' proposition. It requires an approach using multiple-product solutions," says Tucker. "Through Pacific Life, advisors have access to a diverse selection of fixed annuities, variable annuities, mutual funds, and life insurance. We also offer a full complement of highly consultative support resources to help advisors build stronger relationships, manage client expectations, and guide clients through the entire retirement income-planning process."

To learn more about Pacific Income Advantage and Pacific Life's full line of products and services, visit or talk with 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 Pacific Life online at

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.

Pacific Income Advantage is not available in New York.

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, Pacific Life Funds, their 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.

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 59 1/2, 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 the Guaranteed Withdrawal Benefit. Guaranteed Withdrawal Benefit withdrawals are not annuity payouts. Annuity payouts generally receive a more favorable tax treatment than other withdrawals.

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 and death benefit options.

Guaranteed Withdrawal Benefit annual credits increase the protected amount and will be treated as earnings when withdrawn.

No guaranteed rate will be less than the minimum guaranteed rate stated in the contract. Pacific Life determines, at its discretion, annual interest rates in excess of the stated minimum guarantee in the contract. 

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 crediting rates or annuity payout rates, are backed by the financial strength and claims-paying ability of the issuing insurance company. They are not backed by the independent third party from which this annuity is purchased, including the broker/dealer, 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. Fixed annuities issued by Pacific Life (Newport Beach, CA) are available through licensed, independent third parties.

Documents and/or Photos available for this release:

New addition to Pacific Life's diverse annuity product line combines the advantages of a traditional deferred fixed annuity with a built-in Guaranteed Withdrawal Benefit that includes a 6% Annual Credit.

To view supporting documents and/or photos, go to and enter Release ID: 364837

Contact Information:

June Arce
Pacific Life
Phone: (949) 219-6916