Press Release New Index. New Opportunity. Pacific Life Introduces Pacific Index Edge
September 8, 2016 by MarketWired
NEWPORT BEACH, CA–(Marketwired – September 07, 2016) – Pacific Life Insurance Company has launched Pacific Index Edge, a new deferred, fixed indexed annuity that is the first to utilize the BlackRock Endura Index-a new volatility-controlled index from a global leader in risk-management services.
“Pacific Index Edge brings together a new index from BlackRock, and a new opportunity for principal protection and market-based growth from Pacific Life,” says Christine Tucker, vice president of marketing for Pacific Life’s Retirement Solutions Division. “With four simple but diverse Interest-Crediting Options to choose from, clients have opportunities for growth potential in various market environments.”
For clients who prefer growth based on multiple asset classes and controlled volatility, Pacific Life is the first in the industry to offer an option using the new BlackRock Endura Index. Composed of U.S. equities that seek to have lower volatility compared to the broader U.S. equity market, this index uses short-term U.S. Treasury bonds to help lessen downside risk. The index also seeks to minimize portfolio volatility to help deliver steady long-term growth. Hilary Corman, managing director at BlackRock, commented, “We are excited that Pacific Life is the first to launch a fixed indexed annuity with our BlackRock Endura Index. The launch of this index demonstrates BlackRock’s commitment to innovation and working with clients to help solve their investment challenges.”
To complement the Interest-Crediting Option based on the BlackRock Endura Index, Pacific Index Edge also offers two options based on the S&P 500® index that can provide growth potential in certain market environments. There is also a Fixed Account Option that can provide a predictable, guaranteed interest rate.
Pacific Index Edge is available with a choice of one of two optional benefits, available for an additional cost, depending on client goals. For lifetime income, there is the new Interest Enhanced Income Benefit, an optional guaranteed minimum withdrawal benefit. For clients who would like to leave a financial legacy to loved ones, there is Interest Enhanced Death Benefit, an optional death benefit.
“With the addition of Pacific Index Edge, Pacific Life now has a selection of fixed indexed annuities for a variety of client scenarios,” says Tucker. “This product is specifically designed to enhance the growth potential on the front end, and when paired with one of the optional benefits, a lifetime income or an enhanced death benefit for beneficiaries on the back end.”
For more information about Pacific Index Edge and the optional benefits it offers, visit www.PacificLife.com. Financial professionals are also invited to call a Pacific Life consultative wholesaler at (800) 722-2333.
(1) The BlackRock iBLD Endura VC 5.5 ER Index is referred to as the BlackRock Endura Index for ease of reference.
About Pacific Life
Offering insurance since 1868, Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients. For additional company information, including current financial strength ratings, visit Pacific Life online at www.PacificLife.com.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2016 is compiled by Pacific Life using the 2016 FORTUNE 500® list.
Fixed annuities are long-term contracts designed for retirement. Pacific Index Edge, Interest Enhanced Income Benefit, and Interest Enhanced Death Benefit are not available in New York.
The S&P 500® index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Pacific Life Insurance Company. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Pacific Life. Pacific Life’s product is not sponsored, endorsed, sold, or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s), nor do they have any liability for any errors, omissions, or interruptions of the S&P 500® index.
BlackRock, Inc., and its affiliates (“BlackRock”) are not the issuer or producer of any annuity product associated with Pacific Life Insurance Company, and BlackRock has no responsibilities, obligations, or duties to investors in such products. The BlackRock iBLD Endura VC 5.5 ER Index (hereinafter, the “BlackRock Endura Index”) is a product of BlackRock Index Services, LLC, and has been licensed for use by Pacific Life Insurance Company. BLACKROCK, BlackRock iBLD Endura Index, and the corresponding logos are registered and unregistered trademarks of BlackRock. While Pacific Life Insurance Company may for itself execute transactions with BlackRock in or relating to the BlackRock Endura Index in connection with its annuity products, investors acquire all such annuity products from Pacific Life Insurance Company and neither acquire any interest in the BlackRock Endura Index nor enter into any relationship of any kind with BlackRock upon investing in such products. Pacific Life Insurance Company annuity products are not sponsored, endorsed, sold, or promoted by BlackRock. BlackRock makes no representation or warranty, express or implied, to the owners of any Pacific Life Insurance Company annuity product or any member of the public regarding the advisability of investing in such products, nor does it have any liability for any errors, omissions, or interruptions of the BlackRock Endura Index. BlackRock shall not be liable in any way to the issuer, investors, or any other party in respect of the use or accuracy of the BlackRock Endura Index or any data included therein. The indexes are not available for direct investment, and index performance does not include the reinvestment of dividends.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues. Insurance product and rider guarantees, including optional benefits and any fixed crediting rates or annuity payout rates, are backed by the financial strength and claims-paying ability of the issuing insurance company. They are not backed by the independent third party from which this annuity is purchased, including the broker/dealer, by the insurance agency from which this annuity is purchased, or any affiliates of those entities, and none makes any representations or guarantees regarding the claims-paying ability of the issuing insurance company.
Fixed annuities issued by Pacific Life (Newport Beach, CA) are available through licensed, independent third parties.
Documents and/or Photos available for this release:
Pacific Index Edge brings together a new index from BlackRock, and a new opportunity for principal protection and market-based growth from Pacific Life
To view supporting documents and/or photos, go to www.enr-corp.com/pressroom and enter Release ID: 404086
Contact: June Arce