NU Online News Service, May 7, 11:57 a.m. – Pacific Life & Annuity Company, Newport Beach, Calif., a unit of Pacific Life Insurance Company, has started selling the Pacific Innovations Select variable annuity in New York state.

The annuity, which has an unusually short three-year surrender charge period, offers 33 variable options and one fixed-rate option from 14 separate investment companies.

The minimum initial investment is $2,000 for retirement accounts and $10,000 for other types of accounts.

The maximum purchase age is 85.