Life Launches Variable Annuity
Pacific Life Insurance Company has
released Pacific Odyssey, a fee-based variable annuity within LPL Financial.
The product is being released ahead of the Department of Labor’s Conflict
of Interest rule which goes into effect on April 10 and
is expected to push the industry strongly toward fee-based
Warren Posner, LPL Financial senior
vice president of product management, says "While LPL Financial continues
to focus on brokerage variable annuity solutions and believes they are and will
continue to be an important and relevant solution to meet retirement planning
needs in a post-DOL environment, we are excited to expand our existing
fee-based variable annuity lineup with the competitive features offered by the
Pacific Odyssey product to meet a growing interest and demand in that
Key features of Pacific Odyssey include
and administrative charges of 0.30% annually, and no withdrawal charges or
front-end loads and back-end withdrawal charges. Clients have full access to
their account values anytime in the form of partial or lump-sum withdrawals.
additional cost, clients can add a living benefit option for guaranteed
lifetime income without giving up control of their assets.
"Pacific Life is focused on
bringing quality retirement solutions to a broad range of financial
professionals, no matter what business model they choose. We are excited to
offer Pacific Odyssey at LPL Financial within its SAM and SWM platforms,"
says John White, vice president of national accounts and sales support for
Pacific Life’s Retirement Solutions Division. "Pacific Odyssey is a
cost-efficient option for LPL Financial advisers seeking a fee-based product
that provides the opportunity for growth, guaranteed income for retirement and
For more information about Pacific
Odyssey and current prospectus, visit www.PacificLife.com.
NEXT: Beaumont Capital Management Launches Smart Beta Solutions