NEWPORT BEACH, CA--(Marketwired - May 01, 2017) - Pacific Life announces a new fee-based fixed indexed annuity -- Pacific Index Advisory℠ -- which enhances its suite of products designed for lifetime retirement income. Created for clients who want to protect principal as well as potentially grow contract value through market-based interest crediting, Pacific Index Advisory provides financial advisors an opportunity to offer a fee-based solution in addition to the commission-based products currently available.

"Until recently, there haven't been a lot of choices for fee-based solutions that provide guaranteed retirement income," says Christine Tucker, vice president of marketing for Pacific Life's Retirement Solutions Division. "This new fee-based fixed indexed annuity offers advisors more choice and flexibility when developing their clients' portfolios."

Pacific Index Advisory is the Company's second fee-based annuity. Pacific Life also offers a fee-based variable annuity solution, Pacific Odyssey®, designed for fee-conscious investors. Pacific Odyssey is cost-efficient, with mortality & expense and administrative charges of just 0.30% annually, with no withdrawal charges.

Both the new fee-based fixed indexed annuity and the fee-based variable annuity products are commission-based alternatives and offer clients optional benefits (for an additional cost) for lifetime income or for leaving an enhanced financial legacy to beneficiaries.

"Even in the midst of uncertainty about the DOL Fiduciary Rule, keeping in mind the best interests of our clients is paramount," says Tucker. "Offering solutions that give advisors and clients a choice of a fee-based or a commission-based structure helps us achieve that goal while helping clients achieve their retirement income goals."

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 www.PacificLife.com.

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2016 is compiled by Pacific Life using the 2016 FORTUNE 500® list.

Pacific Index Advisory is not available in New York.

Pacific Life is a product provider. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products. Only an advisor who is also a fiduciary is required to advise if the product purchase and any subsequent action taken with regard to the product are in their client's best interest.

Contact your financial advisor or visit www.PacificLife.com for more information, including product and underlying fund prospectuses that contain more complete information about Pacific Life and a variable annuity's risks, charges, limitations, and expenses, as well as the risks, charges, expenses, and investment goals of the underlying investment options. Read them carefully before investing.

Annuities are long-term investments designed for retirement. The value of the variable investment options will fluctuate so that shares, 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 will reduce the contract value and the value of the death benefits, and also may reduce the value of any optional benefits.

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 are distributed by Pacific Select Distributors, LLC (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company (Newport Beach, CA) and an affiliate of Pacific Life & Annuity Company. Variable and fixed annuity products are available through licensed, independent third parties.

Documents and/or Photos available for this release:

Caption(s):
"Until recently, there haven't been a lot of choices for fee-based solutions that provide guaranteed retirement income," says Christine Tucker, vice president of marketing for Pacific Life's Retirement Solutions Division.

To view supporting documents and/or photos, go to www.enr-corp.com/pressroom and enter Release ID: 410765