Close Close

Life Health > Life Insurance

VA Option Draws On Power Of 10

Your article was successfully shared with the contacts you provided.

Pacific Life Insurance Company has introduced the Foundation10 guaranteed minimum withdrawal benefit.

The option, available with variable annuities, provides an annual 10% credit for up to 10 years if no withdrawals are taken during those years, according to Pacific Life, Newport Beach, Calif.

The option also guarantees access to 5% withdrawals for life for purchasers who comply with product guidelines, and it includes step-up features that can help purchasers lock in investment gains, Pacific Life says.

VA buyers who buy the option must allocate their VA assets using a diversified portfolio allocation strategy.

Pacific Life is responsible for backing the product guarantees.


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.