All names, marks, and materials used for the reviews on this site are property of their respective owners, and not those of AnnuityGator.com. Annuity product guarantees rely on the financial strength and claims-paying ability of the issuing insurer. Although there are certainly a number of good websites out there on the Internet that is devoted to marketing their annuities, the reality is that some of these sites may try to lure visitors in by making claims such as: But even as enticing as these claims appear to be, it is important that you really know what it is that you are putting your money towards because in this case, it can have an effect on your retirement lifestyle – and ultimately your life in the future. So, if this is something that is of interest to you, then all you need to do is simply reach out to us, Also, we realize that details about annuities – and other financial products, too – can and do change somewhat quickly. For more of the in-depth details, as well as the small print information, you can check out the Pacific Life Pacific Expedition Deferred Fixed Annuity literature HERE. In this annuity review, we will be covering the following details regarding the Pacific Life Expedition Fixed Deferred Annuity: Annuities can be complex. If this is the first time that you have stopped by our website, we would like to personally welcome you here to AnnuityGator.com. Given that life is filled with so many uncertainties, when you have the opportunity to receive a guarantee, it can be a nice benefit – particularly when they have to do with your financial options. This, however, is not entirely surprising, as there are a lot of details, as well as many opinions about annuities and how they work. Also, while tax-deferred compounding can indeed help to grow and compound your money exponentially, this is a feature that is found on all annuities, so that really doesn’t make the Expedition fixed deferred annuity from Pacific Life stand out. Variable and fixed annuity products are available through licensed third parties. If you would like to see reviews on any other annuity (or annuities), our team of annuity “geeks” will get on the ball and get them on our website. Pacific Life Foundation has donated more than $84 million to charitable causes in the past 30 years. Allianz Index Advantage Variable Annuity (Buffer Annuity) ... New York Life Secure Term MVA Fixed Annuity II; Pacific Life Pacific Index Choice. The company has received very high ratings from the insurer rating agencies, including a(n): Pacific Life, at the end of 2016, stood as the #1 seller of indexed universal life and universal life sales, and it was the 8th largest company in terms of total life insurance sales. Thank you, you have successfully subscribed to our newsletter! Well for one, we feel that knowing the whole picture, rather than only part of it, is the only way for you to make a truly well-informed decision as to whether or not this (or any) annuity is really right for you. Pacific Life is a Fortune 500 company and the 10th largest seller of variable annuities. Find an Advisor: But prior to moving forward with the purchase of this, or any other annuity, it can be extremely advantageous to have a deeper understanding of how fixed deferred annuities work, and how they may – or may not – work well with your particular financial objectives, both now and in the future. Yet, even with these nice features, you really need to know more about how the annuity actually works, and what you may need to give up in return for attaining these guarantees. How do I know I can trust these reviews about Pacific Life Annuities? That’s where having an Annuity Investigator who loves math comes in. Opening Thoughts on the Pacific Life Index Foundation Fixed Indexed Annuity. The us economy is broken. It is purchased with a single lump-sum purchase payment. There are lots of insurance companies, so find a company that is trustworthy!!! Pacific Life is a Fortune 500 company and the 10th largest seller of variable annuities. ©AnnuityGator. Thank you customer service crew. Copyright © 2020 Consumers Unified LLC. It protects your principal, while providing growth opportunity based on the positive movement of an index, such as the S&P 500® index. Sign up to receive our free weekly newsletter. This is where the Annuity Gator comes in! Pacific Income Providerâa single-premium, immediate fixed annuity âcan help you address each of the following key concerns in retirement. Fixed annuities can provide the flexibility you need to access your money to help you pay for periodic expenses, such as an anticipated change in your retirement income or paying for your childâs higher ⦠It was not requested by me. I have been trying to get the monthly payment moved to a different account for two months. I got an annuity/pension transfer letter from Pacific Life with instructions on how to create an account. A Fixed, Deferred Income Annuity Pacific Secure Income is not available in California, Illinois, North Carolina, Oregon, Pennsylvania, and Texas. It is not a recommendation to purchase or to sell an annuity. For Pacific Life Pacific Secure Income, multiple purchase payments are permitted only with the lifetime annuity income options. In addition, the employee volunteer program encourages involvement in over 100 organizations. Annuity riders may be available for an additional annual premium that can provide additional benefits and income guarantees. So we are stuck with a product we would not have chosen had we been told the truth. Pacific Life offers a distinct portal for information focused on needs and issues specific to women. The staff helped me figure it out and I never had an issue after it. Unfortunately, though, some of the advisors who offer annuities may not always be presenting them in the proper manner. We can provide this testing for you and can offer you a free, no obligation, spreadsheet with the results. Unsubscribe at any time. This, however, is only the case if the annuity fits in with your other financial-related needs and goals. Get My ⦠Pacific Life's fixed annuity is called "Pacific Frontiers II" and is offered for investment terms of 5 to 10 years. Not all products are available at all broker/dealer firms or in all states. Pacific Life is a product provider. If you’ve been in the process of looking for a financial vehicle that can provide you with the security of principal, as well as an ongoing stream of income in retirement, then the Pacific Life Expedition Fixed Deferred Annuity may be a viable option for you. By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. This means that your rate will be locked in for at least the duration of the rate guarantee period – regardless of what occurs in the market, or with interest rates in the overall economy. You could opt for the RateAdvantage feature on the Expedition annuity. An immediate annuity offers guaranteed income for one life, two lives, or for a specified time period. Prior to establishing his independent firm, Jim operated a successful tax preparation service and managed information technology operations for a major financial services corporation. Transamerica X Shares with Retirement Income Max Rider . We have been doing this far longer than our competitors have – so over time, there have been a number of “copycat” website that has sprung up around the Internet. They may also not be able to answer all of the more in-depth questions that you may have – but that is necessary in order to make a well-informed annuity purchase decision. For more information, refer to the Contract Summary. Independent Review of the Pacific Life Pacific Mariner 3 Annuity, Independent Review of the Pacific Life Pacific Income Provider Annuity, Independent Review of the Pacific Life Insurance Company’s Pacific Index Advisory Annuity, Independent Review of the Pacific Life Pacific Index Edge Fixed Indexed Annuity, Independent Review of the Pacific Life Pacific Index Foundation Fixed Indexed Annuity, Independent Review of the Pacific Life Frontiers ll Fixed Deferred Annuity. As of year-end 2016, Pacific Life held roughly $143 billion in total assets, and for the year 2016, it paid out $2.3 billion in insurance and annuity benefits to its clients, policyholders, and beneficiaries. Just to be perfectly clear here, we do want to state our belief that annuities can – and often are – very good products to add to one’s overall portfolio. A year after I divorced him, he passed away. Fixed indexed annuities enable you to grow your retirement savings faster by deferring taxes until you take income, creating lifetime income⦠First I called and was directed to the wrong form which I submitted. On top of that, according to Pacific Life, “The amount of the rate increase will be subject to a maximum, known as the Maximum Anniversary Rate.”. They took advantage of us. This is an independent annuity product review. You are also able to choose from two initial interest rate guarantee periods – either 5 years or 7 years. Pacific Life Insurance Company has just released a new deferred fixed annuity that is a little different from the rest. Financial Data for the year ending December 31, 2019. If you’ve been considering the purchase of a deferred fixed annuity such as the Pacific Expedition, then you can certainly be assured that your money will be safe, and that you will also be able to count on a steady stream of income for the rest of your life – regardless of how long that may be. For complete information about the cookies we use, data we collect and how we process them, please check our. In addition, the amount of the credit enhancement that you receive is considered to be earnings and is there for considered to be taxable upon withdrawal. The Pacific Income Provider is the companyâs immediate annuity that allows consumers to fund it with a single payment, and immediately begin receiving income on a regular basis. The Pacific Income Advantage not only offers fixed annuity benefits, but it also has the option for a Guaranteed Withdrawal Benefit with yearly crediting. For more details on how to compare fixed annuities so that you can decide which may be the best one for you, click here in order to obtain our free annuity report. Each time I make a change of account for the deposit, they take a 6.99% withdrawal for CT Income Tax. Annuity Products Offered by Pacific Life Insurance Company There are currently no annuity products reviewed by AnnuityAdvantage for this insurance company. Jim Blankenship is a Certified Financial Planner with over 30 years of experience in the financial services industry. Check the background of your financial professional on FINRA's BrokerCheck. Variable insurance products are distributed by Pacific Select Distributors, LLC (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company (Newport Beach, CA) and an affiliate of Pacific Life & Annuity Company. With it, you can tailor income to fit your needs and create income that lasts for life. Our content is intended to be used for general information purposes only. Trying to review an annuity that's ⦠The company also ranks as #13 in terms of variable annuity sales, and the #16 largest fixed annuity seller. In this case, the duration of the surrender charge period will be the same as the interest rate guarantee period, as follows: The Pacific Life Expedition Fixed Deferred Annuity, while not for everyone, could be a good option if you are seeking: On the other hand, this annuity might not be a viable option if you: There is a myriad of factors that you should ideally consider when you are thinking about the purchase of an annuity. Avoid at all cost!! In this case, there are two interest rate breakpoints. For predictable income that begins on a date in the future and lasts for one life, two lives, or a specified period of time. Here, even though you are allowed to withdraw up to 10% of your purchase payment(s) in the first year, and 10% annually during the remainder of the withdrawal charge period, you could incur surrender charges if you take out more than that. One reason for this is because they can offer a guaranteed income stream during retirement – and because of this and other benefits that they provide, the number of financial advisors who offer annuities has also risen a great deal. All the payout option fit in with what I would expect in such a company and cannot speak highly enough for their professionalism and honor throughout the process. I've been on hold for 20 minutes... finally got an operator... She says she sent me a reset link. Your email address will not be published. According to Pacific Life, the Expedition Fixed Deferred Annuity is a long-term contract between you and the insurance company that helps: Grow retirement income through the power of tax deferral Lock in guaranteed interest rates for a term that you choose Convert your assets into guaranteed lifetime retirement income I also had loads of issues with payout but the staff and customer services were so helpful in showing me how I can payout online, over the phone and via my account. In fact, we have no shame in telling you that our site is the only place where you will be able to find all of the intricate details about this annuity – which includes not only the rosy positive information but also the items that may be considered to be drawbacks. Pacific Life Annuities take time explaining everything and seem genuinely interested in my satisfaction with their services as well as my success. Our feeling is that imitation is definitely the best form of flattery! Companies pay us to be accredited or when you click a link, call a number or fill a form on our site. The contents of this site may not be republished, reprinted, rewritten or recirculated without written permission. We are old and did not completely understand the annuity. All Rights Reserved | Privacy Policy, Independent Review of the MetLife Fixed Annuity FA Fixed Deferred Annuity, Independent Review of the Thrivent Flexible Premium Deferred Fixed Annuity – [October 2018 Update], We use cookies to enhance your experience while using our website. Of fees annuities take time explaining everything and seem genuinely interested in seeing enhancement that you eligible. Variable and fixed annuity seller for complete information about the ongoing increase of fees, reliable lifetime income and grow... Both in terms of variable annuity sales, and you miss out on amount... In part on the amount of your financial Ducks in a Row hassle for me to figure out the,... 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