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Pacific Life Brings Out No-Load, No Surrender-Charge Variable Annuity

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NU Online News Service, Aug. 23, 10:35 a.m. – Pacific Life Insurance Company, Newport Beach, Calif., has introduced the Pacific Odyssey variable annuity, a no-load product with no surrender charges.

The annuity comes with a choice of 14 money managers, 31 variable investment options and one fixed-rate option.

The charge for mortality and expenses is 0.15% of annuity assets, and the administrative fee is 0.25% of assets.

The age limit for first-time purchasers is 90.

The product could be especially useful to clients who want ready access to some of their retirement assets, according to Kathleen Hunter, a Pacific Life marketing executive.


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