NEWPORT BEACH, CA – Pacific Life announces a new fee-based fixed indexed annuity—Pacific Index AdvisorySM —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.”
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