An insurer has used software from Torrid Technologies Inc. to develop a Web-based calculator for variable annuity beneficiaries.

When VA holders who have used VA contracts outside of qualified plans and individual retirement plans die, financial professionals can use the calculator to help beneficiaries decide whether to take benefits in the form of a lump sum or in the form of an income stream, according to Pacific Life Insurance Company, Newport Beach, Calif.

Pacific Life used the WebCalcs software from Torrid Technologies, Marietta, Ga., to create the tool.

Pacific Life has posted the calculator on the password-protected financial professionals section of its Web site.