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Free Annuity Withdrawal Provisions Some, but certainly not all, annuity contracts allow you to withdraw a portion of your funds each year without being subject to surrender charges. Youre often granted up to 10% of your total annuity contract value. This is called the free withdrawal provision.
If you do not receive an email reply from us within 48 hours, or you require a quicker reply, please do not hesitate to call us at (800) 800-7646.
These products and mutual funds are distributed by Pacific Select Distributors, LLC (member FINRA SIPC), a subsidiary of Pacific Life Insurance Company, and an affiliate of Pacific Life Annuity Company, and are available through licensed third-party broker-dealers.
Earnings Enhancement Death Benefit (EEDB) 40% of earnings (owners/annuitants ages 069 at issue). 25% of earnings (owners/annuitants ages 7075 at issue). Earnings are equal to the contract value on the date of death minus the remaining purchase payments. There is no limit to total earnings.
The insurer issuing the annuity charges surrenders fees if funds are withdrawn during the annuitys accumulation phase. The IRS charges a 10% early withdrawal penalty if the annuity-holder is under the age of 59.
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The company provides a wide range of annuity products, including fixed, indexed, variable, immediate and deferred income annuities. Pacific Life holds excellent financial strength ratings from all of the major credit rating agencies.
How to Get Out of an Annuity Free Look Provision. If your annuity is a recent investment, you may be able to get out of it during the contracts free-look period. Return of Premium Rider. Similar to life insurance offerings, annuity contracts can also include a return of premium rider. 1035 Exchange. Cashing Out.
The company moved its headquarters to their current Newport Beach, California, location in 1972 when management decided that Newport Beach would provide a higher standard of living for their families. In 1997, the company dropped mutual from its name, changing it to Pacific Life Insurance Company.

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