Category: New Product

Pacific Life launches fee-based variable annuity

Fee-Based Variable Annuity

Recap: Pacific Odyssey® is an expansion of the existing fee-based variable annuity lineup to meet DOL fiduciary.

  • Mortality & expense and administrative charges of 0.30% annually
  • No withdrawal charges–There are no front-end loads or back-end withdrawal charges, allowing clients full access to their account values anytime in the form of partial or lump-sum withdrawals.
  • More than 100 investment options—The product offers more than 100 investment options across several different asset classes along with more than 50 funds with net fund expenses currently less than 1%.
  • Optional living benefit—For an additional cost, clients can add a living benefit option for guaranteed lifetime income without giving up control of their assets.
  • A standard death benefit for no additional cost

The Standard Launches New Individual Disability Insurance Product

New Individual Disability Product: Platinum Advantage

Standard Disability Insurance

Recap: Platinum Advantage can be tailored to a client’s profession, income projection and life stage.

  • Platinum Advantage has a premium base benefit which includes a Guaranteed Renewable feature, mental disorder and substance abuse benefits, and strong definitions of disability.
  • Base includes Family Care Benefit at no additional cost (a monthly benefit to policyholders who need to take time off work to care for a family member (a spouse, parent or child) with a serious health condition).
  • Optional riders include a Residual Disability Rider, Noncancelable Policy Rider, Own Occupation Definition Benefit, Indexed Cost of Living Benefit Rider, Catastrophic Disability Rider and a Student Loan Rider.

“Gen X and baby boomer clients are sometimes in a position where they need to provide hands-on care for an aging parent or seriously ill child. These caregiving responsibilities can limit a client’s ability to work and, in turn, his or her income. The Family Care Benefit can help reduce the financial impact of an income loss and medical expenses that often occur when caring for a family member.” – Doug Waters, second vice president of IDI sales at The Standard