Nothing on this website is a recommendation to buy or sell an annuity. Box 2378 Omaha, NE 68103-2378 CONTACT INFORMATION (for New York only): Pacific Life & Annuity Company P.O. That’s where having an Annuity Investigator who loves math comes in. But, before you go out and purchase this annuity sight unseen, it is important that you first get a more thorough understanding of its benefits, and it potential drawbacks, because if you decide that it isn’t for you after you’ve made a commitment, it could be fairly expensive to get out of it. All of the names, marks, and materials that were used for this annuity review are the property of their respective owners. As with other annuities, the growth that takes place within the account is tax-deferred, meaning that no tax is due on the gain until the time of withdrawal. That being said, if an advisor is really pushing you to purchase this annuity, make sure that it matches up with YOUR financial goals and objectives, not his or hers! Pacific Life is a product provider. Individual life insurance and annuity products are available in New York through Pacific Life & Annuity Company. In order to receive this information, just simply contact us via our secure online contact form here. Long-term care benefits can be included with some policies. Rather than sending the info back and forth via email, it would be best to discuss it by phone. By contacting us you may speak with an insurance licensed agent in your state, and you may be offered insurance products for sale. If you would like to read more of our Pacific Life annuity reviews here are some links to check out: Your email address will not be published. With that in mind, if your current insurance or financial advisor has talked with you about the Mariner 3 annuity from Pacific Life, it is likely that he or she highlighted the 3-year rate guarantee that you can lock in – regardless of what is happening with interest rates in the economy. Q: What do I do if I am a First Time User? One big reason for this is because annuities can be difficult – and expensive – to get out of if you determine that the product you purchase isn’t really performing the way you expected it to. It is not a recommendation to purchase or to sell an annuity. Due to increased demand for annuities, though, insurance companies have been coming out with a variety of new products – many of which can make what was an already confusing product even more difficult to understand. You can find more information on how the annuities from Pacific Life Insurance Company work here. Next by Pacific Life is the new digital suite of insurance products from Pacific Life Insurance Company, which was founded in Sacramento, California in 1868. So, you can count on a more restful night’s sleep going forward. Annuity product guarantees rely on the financial strength and claims-paying ability of the issuing insurer. We’ve been doing this for quite some time now – longer than our competitors – and because of that, we have come to be known as a trusted source of annuity information on the Internet. This is the case for both consumers and many insurance / financial advisors. It is not a recommendation to purchase or to sell an annuity. P.S. Pacific Life’s scope of term to permanent life insurance products lends itself to individuals, families, and also businesses of all sizes.. And, because of the in-depth reviews that we provide, we have become a highly trusted source of annuity information online. When creating our reviews, we would much rather “err” on the side of being “too long” as versus not long enough. We can do that for you by running the numbers through our annuity calculator, and can then provide you with a spreadsheet showing the results. Here is some good news for those who nonetheless prefer buying an annuity from a top-rated firm. Over the past decade or so – and particularly after the U.S. recession of 2008 and the 2020 market crash during the COVID-19 crisis – fixed annuities have become much more popular with those who are retired and who are approaching this time in their lives. But if they spike up, then you could feel a bit locked in. Here, you are locked into a set rate for the first seven years of owning the product. This annuity review is meant solely to be an independent review at the request of our readers so that they may see out perspective when breaking down the positives and the negatives of this particular annuity. You can selectively provide your consent below to allow such third party embeds. So, we thank you for sticking with us through to the end here. Pros and cons?? As of year-end 2016, Pacific Life held roughly $143 billion in total assets, and for the year 2016, it paid out $2.3 billion in insurance and annuity benefits to its clients, policy holders, and beneficiaries. So, for example, if you want to ensure that both you and your spouse or significant other have a lifetime stream of income that will last until the second person dies, you can do that here with the joint and survivor life annuitization option. For more information on how to compare annuities in order to determine which one may be the best for you and your financial circumstances, click here to obtain our free annuity report. Required fields are marked *. So, if you would like to see a particular annuity reviewed, then just let us know the name of the annuity (or annuities), and our team of annuity “geeks” will get on the case. An annuity is the only financial product that provides protected income for life. We look forward to hearing from you. So, be sure to check back soon for the new reviews. Pacific Life offers consumers a great variety of annuity products to choose from. If you have questions regarding how to complete these forms, please contact our Customer Service Specialists at (800) 722-4448 and in New York at (800) 748-6907. In fact, you’ll be lucky if you’re able to meet, much less beat, inflation, which in turn could have a negative impact on your future purchasing power. Term Life. For more information on how to compare annuities in order to determine which one may be the best for you and your financial circumstances, click here to obtain our free annuity report. Pacific Life is the top U.S. seller of indexed universal life insurance, according to Wink’s Sales & Market Report. Headquartered in Newport Beach, California, Pacific Life Insurance Company is considered to be a strong, financially stable insurer. If you’re wondering how an annuity might fit into your retirement income plan, it may be worth consulting with a financial advisor . This means that you’ll incur a withdrawal fee (which grades down over time). You can also count on a guaranteed lifetime income, regardless of how long you may live (provided that you choose the annuity’s lifetime income payout option). On top of that, you could also incur taxes on any gains – AND, if you make withdrawals before you turn age 59 1/2, you’ll also be hit with an additional 10% “early withdrawal” fee from the IRS. Pacific Life, at the end of 2016, stood as the #1 seller of indexed universal life and universal life sales, and it was the 8th largest company in terms of total life insurance sales. Although Pacific Life Insurance is not accredited on the Better Business Bureau website, it has an A+ rating. All Rights Reserved | Privacy Policy, Independent Review of the Mass Mutual Stable Voyage 3 Annuity, Independent Review of the Ameritas SPDA 2000 1 Year Guarantee Annuity, We use cookies to enhance your experience while using our website. That’s because, if you go the route of choosing the lifetime income option, the annuity will continue to pay out an income stream, no matter how long you need it. Yet, even with all of the seemingly nice features that are included with this annuity, there could still be a better alternative out there for you – particularly if you are seeking the opportunity for a higher return. At the end of the guaranteed term, you may elect to either start another guarantee period, or alternatively, withdraw the full amount of the contract without penalty. In order to best support you, we would need some additional information from you to help you and her determine if its the best one for her needs. Variable Annuities. That’s where having an Annuity Investigator who loves math comes in. If you are currently in the process of looking for a financial vehicle that can provide you with the opportunity to earn market index-linked returns, while also keeping your principal safe and providing you with an ongoing income in retirement, then the Pacific Life Pacific Index Edge fixed indexed annuity could be a good option for you. These products also help to alleviate the concern about running out of money in retirement. Toggle navigation. If you run across sites like this, be sure that what they are stating is actually true before you part with your hard-earned life savings. By contacting us you may speak with an insurance licensed agent in your state, and you may be offered insurance products for sale. That’s because this annuity offers a way to grow your money using a guaranteed rate of return, along with protection of principal in any market environment. These sites will often time do so by making some fairly bold claims about the annuities they offer, such as: Unfortunately, as nice as these claims may sound, it is absolutely essential that you first verify their validity before you move forward with a long-term financial commitment, just like you would likely do before purchasing any other type of “high ticket” item. One reason for this is the fact that fixed and fixed indexed annuities offer a promise of safety. So, unless the advisor that you work with has a primary focus on selling annuity products, you really should do some additional research on these products, as they will oftentimes require that you deposit a large chunk of your savings into them. Before purchasing any type of insurance and/or investment product, it is important that you do your own due diligence, and that you consult a properly licensed professional if you should have any specific questions that relate to your individual situation. 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