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.
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