What is Pacific Life Fixed Annuities?
Pacific Life offers Fixed Annuities, which are designed to provide a guaranteed stream of income during retirement. Fixed annuities are contracts between an individual and an insurance company, where the individual pays a lump-sum premium in exchange for a guaranteed rate of return, tax-deferred growth, and a guaranteed income stream.
With Pacific Life Fixed Annuities, the rate of return is fixed, making it less risky than variable annuities. The guaranteed rate of return can be credited for a specific period or throughout the life of the annuity. The amount of income that can be received from a fixed annuity is based on the premium amount, age, gender, and payout option chosen.
Fixed Annuities from Pacific Life can be customized to meet individual retirement goals. Individuals can choose the length of time the annuity will payout, whether payments begin immediately or are deferred, and whether payouts will continue for the life of the annuity holder, or for a set period of time.
Pacific Life's Fixed Annuities are available to customers through licensed third-party financial advisors. Pacific Life offers a toll-free number for financial advisors to call for more information or assistance with Fixed Annuities.
In summary, Fixed Annuities from Pacific Life provide a guaranteed rate of return and a steady stream of income during retirement. They are customizable to fit individual goals and are less risky than variable annuities. They are available through licensed financial advisors.
Frequently Asked Questions about pacific life fixed annuities
A fixed annuity is a type of insurance contract that promises to pay the buyer a specific, guaranteed interest rate on their contributions to the account. By contrast, a variable annuity pays interest that can fluctuate based on the performance of an investment portfolio chosen by the account's owner.
A fixed annuity is a financial product that guarantees a fixed interest rate for a specified period of time - for example, 2% - and provides an income stream in retirement. With a fixed interest rate, you know in advance how much your annuity will grow and how much income it will pay out.
Key Takeaways. A life annuity is a financial product that features a predetermined periodic payout amount until the death of the annuitant. Annuitants pay premiums or make a lump-sum payment to secure a life annuity. Life annuities are commonly used to provide or supplement retirement income.
The Power of Annuities
An annuity can help with those as well, because there are different types of annuities that can be tailored to what's most meaningful to you. Have confidence in your financial future with the help of your financial professional and a Pacific Life annuity.
Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments. Annuities can be classified by the frequency of payment dates.
A fixed annuity guarantees payment of a set amount for the term of the agreement. It can't go down (or up). A variable annuity fluctuates with the returns on the mutual funds it is invested in.
In general, life insurance policies protect your family's lifestyle and future by helping to replace your income if you pass away. Fixed annuities, on the other hand, are designed to protect your lifestyle and future by providing a pension-like stream of income that you can use to help fund your retirement.
They're long-term contracts from an insurance company where you invest your money. In return for your investment, you get income in the form of regular payments through annuitization or a guaranteed lifetime income benefit that is available at an additional cost.
Is an annuity a life insurance policy? No, an annuity is an investment product you purchase all at once that earns interest and, after a set time frame or when certain conditions are met, starts paying out. It may be offered by life insurance companies, but it's not technically a life insurance policy.
A variable annuity designed to provide income for life through a living benefit and offers you full access to your money after seven years without withdrawal charges.
A+ (Superior)
Pacific Life Insurance Company
| Rating (Rating Category): | A+ (Superior) |
|---|
| Outlook (or Implication): | Stable |
| Action: | Affirmed |
| Effective Date: | July 21, 2023 |
| Initial Rating Date: | June 30, 1928 |
In investment, an annuity is a series of payments made at equal intervals. Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments. Annuities can be classified by the frequency of payment dates.
Fixed annuities allow you to lock in a rate of earning that, even over long periods of time, remains unaffected by market ups and downs. The principal investment and a specified interest rate are both guaranteed.
A fixed annuity is a relatively simple and lower-risk financial product. People often choose them because they guarantee a specific interest rate for a set period of time. That predictability can be comforting to people looking to preserve their assets.
An annuity helps you accumulate money for future income needs. An annuity is not a savings account or savings certificate, and it should not be bought for short-term purposes. The most appropriate use for income payments from an annuity contract is to fund your retirement.
An annuity is an insurance contract you purchase that guarantees you'll receive a specified amount of money every month for the rest of your life. Annuities were created to help protect people as they age by generating a consistent income stream they can rely on throughout their lifetime.
