Receive This Document (See Inside) - Pacific Life
Statutory Prospectus dated May 1, 2023 for
Pacific Choice Variable Annuity
Pacific Life & Annuity Company
For New York
Supplement dated September 15, 2023 to the Initial Summary Prospectus, Updating Summary Prospectus, and Statutory Prospectus dated May 1, 2023 for the
Pacific Choice Variable Annuity, Pacific Portfolios, Pacific Portfolios for Chase, Pacific Choice 2, Pacific Innovations Select, Pacific Journey Select (issued before October 1, 2013), Pacific Journey Select (issued on or after October 1, 2023), Pacific
Navigator, Pacific Odyssey (issued before October 1, 2013), Pacific One Select, Pacific Value Edge, Pacific Value, Pacific Value Select (issued before October 1, 2013), Pacific Value Select (issued on or after October 1, 2023), and Pacific Voyages variable
annuity contracts issued by Pacific Life & Annuity Company
The purpose of this supplement is to announce certain changes. This supplement must be preceded or accompanied by the Initial Summary Prospectus, Updating Summary Prospectus, or Statutory Prospectus (collectively, the "Prospectus") for your Contract, as supplemented. Capitalized terms used in this supplement are defined in your Prospectus unless otherwise defined herein. "We'', "us'', or "our" refer to Pacific Life & Annuity Company, as applicable; "you" or "your" refer to the Contract Owner. You can obtain a copy of the current Prospectus by contacting us at (800) 748-6907, or online at Prospectuses. Please retain this supplement for future reference.
Effective September 29, 2023, in the Initial Summary Prospectus, Updating Summary Prospectus, and Statutory Prospectus, the following rider is no longer available for purchase:
CoreIncome Advantage Select (Single and Joint)
If you have already purchased the CoreIncome Advantage Select (Single or Joint) prior to September 29, 2023, the rider continues to remain effective subject to the terms of your contract and prospectus.
Supplement dated June 16, 2023 to the Initial Summary Prospectus and Statutory Prospectus dated May 1, 2023 for the following variable annuity contracts issued by Pacific Life Insurance Company:
Pacific Odyssey (offered on or after October 1, 2013), and Pacific Choice Variable Annuity and the following variable annuity contracts issued by Pacific Life & Annuity Company: Pacific Odyssey (offered on or after October 1, 2013), and Pacific Choice Variable Annuity
The purpose of this supplement is to modify the annual charge for certain optional living benefit riders. This supplement must be preceded or accompanied by the Initial Summary Prospectus, or Statutory Prospectus, as applicable (collectively, the "Prospectus") for your Contract, as supplemented. Capitalized terms used in this supplement are defined in your Prospectus unless otherwise defined herein. "We'', "us'', or "our" refer to Pacific Life Insurance Company or Pacific Life & Annuity Company, as applicable; "you" or "your" refer to the Contract Owner. You can obtain a copy of the current Prospectus by contacting us at (800) 722-4448 or (800) 748-6907 for New York contracts, or online at Prospectuses. Please retain this supplement for future reference.
Effective July 3, 2023, all references in the Prospectus to the current annual charge percentage for the following optional living benefit rider will change to the following:
Current Annual Charge Percentage
Protected Investment Benefit (5-Year Option) . . . . . . . . . . . . . . . Protected Investment Benefit (10-Year Option) . . . . . . . . . . . . . .
1.00% 0.95%
If your Rider Effective Date is before July 3, 2023, this does not change your rider charges. The Maximum Annual Charge Percentage is not changing for the optional riders listed above. Please see the CHARGES, FEES AND DEDUCTIONS ? Optional Living Benefit Rider Charges section in the Prospectus for complete information.
Form No. PIBSUP0623
Supplement dated May 25, 2023 to the Statutory Prospectus dated May 1, 2023 for the Pacific Navigator, Journey Select (issued on or after October 1, 2013), Odyssey (issued on or after October 1, 2013), Value Select (issued on or after October 1, 2013), and Pacific Choice variable annuity contracts issued by Pacific
Life & Annuity Company
The purpose of this supplement is to modify the withdrawal percentage for certain optional living benefit riders. This supplement must be preceded or accompanied by the Statutory Prospectus (collectively, the "Prospectus") for your Contract, as supplemented. Capitalized terms used in this supplement are defined in your Prospectus unless otherwise defined herein. "We'', "us'', or "our" refer to Pacific Life & Annuity Company, as applicable; "you" or "your" refer to the Contract Owner. You can obtain a copy of the current Prospectus by contacting us at (800) 748-6907 or online at Prospectuses. Please retain this supplement for future reference.
Effective June 5, 2023, all references in the Prospectus to the withdrawal percentage for the following optional living benefit riders issued on or after June 5, 2023 will change to the following:
Withdrawal Percentage
CoreIncome Advantage Select (Single) . . . . . . . . . . . . . . . . . . . . . . . CoreIncome Advantage Select (Joint) . . . . . . . . . . . . . . . . . . . . . . . .
5.6% 5.0%
The following sections in the CoreIncome Advantage Select (Single) section of the OPTIONAL LIVING BENEFIT RIDERS ? Guaranteed Minimum Withdrawal Riders section are amended as follows: The Protected Payment Amount term in the Rider Terms section is deleted and replaced with the following:
Protected Payment Amount ? The maximum amount that can be withdrawn under this Rider without reducing the Protected Payment Base. If the Designated Life is 65 years of age or older, the Protected Payment Amount is equal to 5.6% (5.75% for the Rider version in effect on or after May 1, 2019 and before May 1, 2020) and (5.0% for the Rider version in effect before May 1, 2019 and on or after May 1 ,2020 and before June 5, 2023) of the Protected Payment Base, less cumulative withdrawals during that Contract Year and will be reset on each Contract Anniversary to 5.6% (5.75% for the Rider version in effect on or after May 1, 2019 and before May 1, 2020) and (5.0% for the Rider version in effect before May 1, 2019 and on or after May 1 ,2020 and before June 5, 2023) of the Protected Payment Base computed on that date. If the Designated Life is younger than 65 years of age, the Protected Payment Amount is equal to zero (0); however, once the Designated Life reaches age 65, the Protected Payment Amount will equal 5.6% (5.75% for the Rider version in effect on or after May 1, 2019 and before May 1, 2020) and (5.0% for the Rider version in effect before May 1, 2019 and on or after May 1 ,2020 and before June 5, 2023) of the Protected Payment Base and will be reset each Contract Anniversary. The initial Protected Payment Amount will depend upon the age of the Designated Life. The second paragraph in the How the Rider Works section is deleted and replaced with the following: If the Designated Life is 65 years of age or older, the Protected Payment Amount is 5.6% (5.75% for the Rider version in effect on or after May 1, 2019 and before May 1, 2020) and (5.0% for the Rider version in effect before May 1, 2019 and on or after May 1 ,2020 and before June 5, 2023) of the Protected Payment Base. If the Designated Life is younger than 65 years of age, the Protected Payment Amount is zero (0). Any allowable Protected Payment Amount remaining at the end of a Contract Year cannot be withdrawn during any following Contract Year. The Withdrawal of Protected Payment Amount section is deleted and replaced with the following: When the Designated Life is 65 years of age or older, you may withdraw up to the Protected Payment Amount each Contract Year, regardless of market performance, until the Rider terminates. The Protected Payment Amount will be reduced by the amount withdrawn during the Contract Year and will be reset each Contract Anniversary to 5.6% (5.75% for the Rider version in effect on or after May 1, 2019 and before May 1, 2020) and (5.0% for the Rider version in effect before May 1, 2019 and on or after May 1, 2020 and before June 5, 2023) of the Protected Payment Base. Any portion of the Protected Payment Amount not withdrawn during a Contract Year may not be carried over to the next Contract Year. If a withdrawal does not exceed the Protected Payment Amount immediately prior to that withdrawal, the Protected Payment Base will remain unchanged.
The following sections in the CoreIncome Advantage Select (Joint) section of the OPTIONAL LIVING BENEFIT RIDERS ? Guaranteed Minimum Withdrawal Riders section are amended as follows: The Protected Payment Amount term in the Rider Terms section is deleted and replaced with the following:
Protected Payment Amount ? The maximum amount that can be withdrawn under this Rider without reducing the Protected Payment Base. If the youngest Designated Life is 65 years of age or older, the Protected Payment Amount is equal to 5% (5.25% for the Rider version in effect on or after May 1, 2019 and before May 1, 2020) and (4.5% for the Rider version in effect before May 1, 2019 and on or after May 1 2020 and before June 5, 2023) of the Protected Payment Base, less cumulative withdrawals during that Contract Year and will be reset on each Contract Anniversary to 5% (5.25% for the Rider version in effect on or after May 1, 2019 and before May 1, 2020) and (4.5% for the Rider version in effect before May 1, 2019 and on or after May 1, 2020 and before June 5, 2023) of the Protected Payment Base computed on that date. If the youngest Designated Life is younger than 65 years of age, the Protected Payment Amount is equal to zero (0). However, once the youngest Designated Life reaches age 65, the Protected Payment Amount will equal 5% (5.25% for the Rider version in effect on or after May 1, 2019, and before May 1, 2020) and (4.5% for the Rider version in effect before May 1, 2019 and on or after May 1, 2020 and before June 5, 2023) of the Protected Payment Base and will be reset each Contract Anniversary. The initial Protected Payment Amount will depend upon the age of the youngest Designated Life. The second paragraph in the How the Rider Works section is deleted and replaced with the following: If the youngest Designated Life is 65 years of age or older, the Protected Payment Amount is 5.00% (5.25% for the Rider version in effect on or after May 1, 2019 and before May 1, 2020) and (4.5% for the Rider version in effect before May 1, 2019 and on or after May 1 2020 and before June 5, 2023) of the Protected Payment Base. If the youngest Designated Life is younger than 65 years of age, the Protected Payment Amount is zero (0). Any allowable Protected Payment Amount remaining at the end of a Contract Year cannot be withdrawn during any following Contract Year. The Withdrawal of Protected Payment Amount section is deleted and replaced with the following: When the Designated Life is 65 years of age or older, you may withdraw up to the Protected Payment Amount each Contract Year, regardless of market performance, until the Rider terminates. The Protected Payment Amount will be reduced by the amount withdrawn during the Contract Year and will be reset each Contract Anniversary to 5% (5.25% for the Rider version in effect on or after May 1, 2019, and before May 1, 2020) and (4.5% for the Rider version in effect before May 1, 2019 and on or after May 1, 2020 and before June 5, 2023) of the Protected Payment Base. Any portion of the Protected Payment Amount not withdrawn during a Contract Year may not be carried over to the next Contract Year. If a withdrawal does not exceed the Protected Payment Amount immediately prior to that withdrawal, the Protected Payment Base will remain unchanged.
The table in the Withdrawal Benefit Rider Exchanges section of the OPTIONAL LIVING BENEFIT RIDERS ? Guaranteed Minimum Withdrawal Riders section is deleted and replaced with the following:
Withdrawal Benefit Rider Exchanges Subject to availability, you may elect to exchange among the following withdrawal benefit Riders:
FROM Core Protect Plus (Single)
Core Protect Plus (Joint)
Enhanced Income Select (Single)
Enhanced Income Select (Joint)
CoreIncome Advantage Select (Single) CoreIncome Advantage Select (Joint) CoreIncome Advantage 4 Select (Single) CoreIncome Advantage 4 Select (Joint) Income Access Select
TO
CoreIncome Advantage Select (Single) or (Joint) (version effective June 5, 2023) CoreIncome Advantage Select (Single) or (Joint) (version effective June 5, 2023) CoreIncome Advantage Select (Single) or (Joint) (version effective June 5, 2023) CoreIncome Advantage Select (Single) or (Joint) (version effective June 5, 2023) CoreIncome Advantage Select (Single) or (Joint) (version effective June 5, 2023) CoreIncome Advantage Select (Single) or (Joint) (version effective June 5, 2023) CoreIncome Advantage Select (Single) or (Joint) (version effective June 5, 2023) CoreIncome Advantage Select (Single) or (Joint) (version effective June 5, 2023) CoreIncome Advantage Select (Single) or (Joint) (version effective June 5, 2023)
WHEN On any Contract Anniversary. On any Contract Anniversary. On any Contract Anniversary. On any Contract Anniversary. On any Contract Anniversary. On any Contract Anniversary. On any Contract Anniversary. On any Contract Anniversary. On any Contract Anniversary.
If you purchased one of the above referenced riders the new withdrawal percentage will not apply unless you exchange into the Core Income Advantage Select (Single) or (Joint) (version effective June 5, 2023). The Maximum Annual Charge Percentage and the Current Annual Charge Percentage are not changing for any of the optional riders listed above. Please see the CHARGES, FEES AND DEDUCTIONS ? Optional Rider Charges section and the OPTIONAL LIVING BENEFIT RIDERS ? Withdrawal Benefit Rider Exchanges sections in the Prospectus for complete information.
Form No. NY0523
Supplement dated May 10, 2023 to the Initial Summary Prospectuses, Updating Summary Prospectuses and Statutory Prospectus dated May 1, 2023 for the following variable annuity contracts issued by Pacific
Life Insurance Company:
Pacific Choice 2, Pacific Odyssey (issued before October 1, 2013), Pacific Journey Select (issued before October 1, 2013), Pacific Innovations, Pacific Innovations Select, Pacific Journey, Pacific Navigator, Pacific
One, Pacific One Select, Pacific Portfolios, Pacific Portfolios for Chase, Pacific Choice Variable Annuity, Pacific Select Variable Annuity, Pacific Quest, Pacific Value, Pacific Value Edge, Pacific Value Select (issued before October 1, 2013), Pacific Value Select (issued on or after October 1, 2013), Pacific Odyssey (issued on or after October 1, 2013), Pacific Journey Select (issued on or after October 1, 2013), Pacific Voyages and
the following variable annuity contracts issued by Pacific Life & Annuity Company:
Pacific Choice 2, Pacific Odyssey (issued before October 1, 2013), Pacific Journey Select (issued before October 1, 2013), Pacific One Select, Pacific Choice Variable Annuity, Pacific Innovations Select, Pacific Navigator, Pacific Portfolios, Pacific Portfolios for Chase, Pacific Quest, Pacific Value, Pacific Value Select (issued before October 1, 2013), Pacific Value Select (issued on or after October 1, 2013), Pacific Value Edge, Pacific Voyages, Pacific Odyssey (issued on or after October 1, 2013), Pacific Journey Select (issued
on or after October 1, 2013)
The purpose of this supplement is to update certain underlying fund information. This supplement must be preceded or accompanied by the Initial Summary Prospectus, Updating Summary Prospectus, or Statutory Prospectus, as applicable (collectively, the "Prospectus") for your Contract, as supplemented. Capitalized terms used in this supplement are defined in your Prospectus unless otherwise defined herein. "We", "us", or "our" refer to Pacific Life Insurance Company or Pacific Life & Annuity Company, as applicable; "you" or "your" refer to the Contract Owner. You can obtain a copy of the current Prospectus by contacting us at (800) 722-4448 or (800) 748-6907 for New York contracts, or online at Prospectuses. Please retain this supplement for future reference.
Effective May 1, 2023, the underlying fund information related to Current Expenses in the APPENDIX: FUNDS AVAILABLE UNDER THE CONTRACT section will be deleted and replaced with the following:
Fund; Advisor (Subadvisor)
PIMCO All Asset Portfolio ? Advisor Class; Pacific Investment Management Company, LLC
PIMCO CommodityRealReturn? Portfolio ? Advisor Class; Pacific Investment Management Company, LLC
PIMCO Income Portfolio ? Advisor Class; Pacific Investment Management Company, LLC
Current Expenses 1.64% 1.39% 0.92%
Form No. VASUP0523 NYSUP0523
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related download
- first choice bonus annuity
- pacific odyssey variable annuity ny
- new york life premier variable annuity fp series
- phoenix life insurance company phl variable insurance company
- receive this document see inside pacific life
- income protector allianz life
- protect yourself from market downturns and enjoy growth
- retirereadysm choice ny a variable annuity issued by
- new york life variable annuity
- allianz index advantage new york variable annuity prospectus
Related searches
- what s this life for meaning
- how do schools receive funding
- how do i receive fafsa
- ask and receive scripture
- knock and you shall receive bible verse
- ask and you will receive scripture
- receive dividends every month
- how to receive dividend checks
- how do i receive emails
- ask and you shall receive bible verse
- ask and you shall receive scripture
- ask and ye shall receive kjv