Pacific Life Insurance Company has introduced the Retirement Income Translator, an online tool to help consumers understand what their retirement savings can mean when translated to retirement income.
This new client resource creates a two-minute personalized video that aims to illustrate the potential benefits of protected lifetime retirement income through an annuity. This release is timely given recent legislative changes to the retirement landscape.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act requires defined contribution plans to provide plan participants with an annual statement reflecting monthly lifetime income.
Considering these changes, the Retirement Income Translator tool can be a great resource to help educate clients about the projected monthly value of their retirement savings. This tool also can educate consumers about the potential benefits of protected lifetime income and encourage them to start the retirement income conversation with a financial professional.
“There is an information gap,” says Christine Tucker, vice president of marketing for Pacific Life’s Retirement Solutions Division. “Many consumers don’t know what their savings mean when it comes to retirement income, nor do they know if or how an annuity can help them. The Retirement Income Translator aims to bridge that gap by providing a simple, palatable personalized experience introducing protected lifetime income.”
As The Official Sponsor of Retirement®, Pacific Life is dedicated to educating consumers and financial professionals alike, while providing actionable strategies that can help offer consumers a more secure retirement.
For more information, visit PacificLife.com/RetirementIncomeTranslator.
About Pacific Life
For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the 100 largest U.S. companies as its clients and has been named one of the 2019 World’s Most Ethical Companies® by the Ethisphere Institute. For additional company information, including current financial strength ratings, visit www.PacificLife.com.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2019 is compiled by Pacific Life using the 2019 FORTUNE 500® list.
Pacific Life is a product provider. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products.
Guarantees are backed by the claims-paying ability and financial strength of the issuing company.
Pacific Life refers to Pacific Life Insurance Company (Newport Beach, CA) and its affiliates, including Pacific Life & Annuity Company. Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues.
Securities distributed by Pacific Select Distributors, LLC (member FINRA & SIPC).