NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Pacific Life Insurance Company has launched an online calculator designed to illustrate beneficiary distribution options from variable annuity contracts that are not used to fund qualified plans or IRAs. The calculator is located at PacificLife.com, in the financial professional section of the Web site, and the output may be given to clients to help make distribution choices.

Variable annuities offer several payout options to beneficiaries when a contract owner dies, including taking the money as a lump sum, depleting the value in five years, and taking distributions for a specific period of time up to the beneficiary’s life expectancy.

To assist in choosing the most appropriate distribution option, beneficiaries would need to consider how much longer they are going to live. However, Pacific Life’s new distributions calculator helps eliminate the guesswork. This tool is designed for financial professionals to use with their clients and provides hypothetical examples based on individual assumptions.

“It’s tempting for beneficiaries to take a lump-sum payout,” says Kathleen McWard, CFP, Pacific Life vice president, marketing, annuities and mutual funds division. “A variable annuity can be very accommodating, and this tool illustrates other distribution options available to the beneficiaries of the contract.”

The nonqualified distributions calculator is implemented using WebCalcs^® software from Torrid Technologies in Atlanta. For more information, visit Torrid Technologies’ Web site: www.torrid-tech.com.

Founded in 1868, Pacific Life provides life insurance products, annuities, and mutual funds and offers a variety of investment products and services to individuals, businesses, and pension plans.¹ Pacific Life counts more than half of the 50 largest U.S. companies as clients² and is a member of the Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities. For additional information about Pacific Life, including its current financial strength ratings from A.M. Best, Fitch Ratings, Standard & Poor’s, and Moody’s, visit the company Web site at www.PacificLife.com.

¹ Product features and availability vary by state.

² Data compiled by Pacific Life using the FORTUNE 500^® list as of April 2007.

Variable insurance products issued by Pacific Life Insurance Company and mutual funds issued by Pacific Life Funds are available through licensed third-party broker/dealers and distributed by Pacific Select Distributors, Inc. (member FINRA & SIPC), a subsidiary of Pacific Life.

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© Business Wire 2007

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