Premium: Limited premium. 1035 exchange/transfer requests must be submitted with the application and the funds received within 60 days after contract issue. Additional cash purchase payments are permitted within the first 60 days after contract issue, up to a maximum of $100,000.
Minimum Purchase Payment: $25,000 (qualified and nonqualified)
Maximum: $1 million; total purchase payments greater than $1 million require Pacific Life home-office approval in advance.
Maximum Annuitant/Owner Issue Age: 85
Maximum Annuitization Age: 95
Initial Guaranteed Periods
Choice of three initial guaranteed periods:
- Five Years
- Seven Years
- Ten Years (Not available in California)
Only one initial guaranteed period may be selected per contract. Initial interest rates and caps are guaranteed for the length of the initial guaranteed period chosen.
All initial guaranteed periods may not be available at all times, in all states, or offered through all firms.
The initial guaranteed period determines:
- The interest rates that will be earned on the Fixed Account Option and potentially earned with the Performance-Triggered Index Option, as well as the time period the rates are guaranteed.
- The cap applied to the Point-to-Point Option and the time period the cap is guaranteed. A cap is the maximum amount of interest that can be earned for the index term.
- When clients will have access to the contract value without incurring a withdrawal charge or market value adjustment (MVA).
The initial interest rates and caps will depend on the initial guaranteed period chosen and the total of all purchase payments received (minus withdrawals and applicable withdrawal charges) in the first year. Guaranteed rates and caps will never be set below the minimum stated in the contract.
The breakpoints that apply for all Interest-Crediting Options are:
- Less than $100,000
- $100,000 and more
Interest-Crediting Options
- Fixed Account Option
- Interest credited daily.
- The initial rate is declared at contract issue and guaranteed for the length of the initial guaranteed period.
- The renewal rate will never be lower than the minimum guaranteed interest rate stated in the contract.
- Index-Linked Options
- Interest may be credited at the end of an index term depending on the amount of change in an index price.
- The initial interest rates and caps will depend on the withdrawal charge period chosen and the total of all purchase payments received.
- Four Indexed-Linked Options are available:
- S&P 500® Index
- 1-Year Point-to-Point Option (with cap)
- 1-Year Performance-Triggered Index Option
- MSCI EAFE® Index (Europe, Australasia, and the Far East)
- 1-Year Point-to-Point Option (with cap)
- 1-Year Performance-Triggered Index Option
Please note: Additional cash purchase payments up to $100,000 are permitted within the first 60 days of contract issue. Interest will be credited proportionately based on both the index return and the length of time the additional purchase payment is allocated, from the date the additional purchase payment is received to the end of the index term. This period may be less than the time frames listed above.
- Transfers
- Effective on a contract anniversary.
- Transfer the value from the Fixed Account Option and expired index terms to any available Index-Linked Option or the Fixed Account Option.
- Can be requested up to 30 days after the contract anniversary.
The Product and its MSCI EAFE® Index-Linked Options referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such Products or any index on which such Products are based. The Policy Contract contains a more detailed description of the limited relationship MSCI has with Pacific Life Insurance Company and any related products.
The S&P 500 index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Pacific Life Insurance Company. Standard & Poor’s®, S&P®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Pacific Life. Pacific Life’s product is not sponsored, endorsed, sold, or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s), nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 index.
The indexes are not available for direct investment, and index performance does not include the reinvestment of dividends.
Withdrawal Charges and Fees
Clients may select one of three initial guaranteed periods that correspond to the withdrawal charge schedule. Withdrawal charges apply only during the initial guaranteed period when the amounts taken are more than those discussed in the "Withdrawals without Charge" section below.
All States (Except CA)
| 5 Years |
|---|
| Contract Year |
Charge per Withdrawal |
| 1 |
9% |
| 2 |
8% |
| 3 |
8% |
| 4 |
7% |
| 5 |
6% |
| 6 |
0% |
| 7 Years |
|---|
| Contract Year |
Charge per Withdrawal |
| 1 |
9% |
| 2 |
8% |
| 3 |
8% |
| 4 |
7% |
| 5 |
6% |
| 6 |
4% |
| 7 |
4% |
| 8 |
0% |
| 10 Years |
|---|
| Contract Year |
Charge per Withdrawal |
| 1 |
9% |
| 2 |
8% |
| 3 |
8% |
| 4 |
7% |
| 5 |
6% |
| 6 |
4% |
| 7 |
4% |
| 8 |
3% |
| 9 |
2% |
| 10 |
1% |
| 11+ |
0% |
In California, the withdrawal charge schedule is as follows:
| 5 Years |
|---|
| Contract Year |
Charge per Withdrawal |
| 1 |
9% |
| 2 |
8% |
| 3 |
7% |
| 4 |
6% |
| 5 |
5% |
| 6 |
0% |
| 7 Years |
|---|
| Contract Year |
Charge per Withdrawal |
| 1 |
9% |
| 2 |
8% |
| 3 |
7% |
| 4 |
6% |
| 5 |
5% |
| 6 |
4% |
| 7 |
3% |
| 8+ |
0 |
No annual contract, mortality and expense, or administrative fees.
