NEWPORT BEACH, Calif. and NEW YORK, April 9, 2019 /PRNewswire/ -- Pacific Life and InsurTech firm Blueprint Income, today announced a collaboration to modernize the purchase of annuities. The first product, Next Deferred Income Annuity, provides a predetermined amount of monthly income starting at a predetermined retirement date in the future and is available on Blueprint Income's platform, an online marketplace for fixed and income annuities. Additional information can also be found at www.meetnext.com and www.blueprintincome.com/next.
"We've heard a clear desire — especially among Generation X — to have the security of a pension that their parents relied on to achieve financial peace of mind," said Blueprint Income co-founder and CEO Matt Carey. "Through our collaboration with Pacific Life, we are opening up this modern approach to a new group of digitally-minded consumers."
Pacific Life created Next by Pacific Life to support the purchase of insurance products through digital platforms like Blueprint Income.
"Rapid changes in technology are impacting retirement planning and how products are designed, distributed, and serviced," said Pacific Life Executive Vice President and Chief Operating Officer Adrian Griggs. "Next by Pacific Life creates an opportunity for us to connect with the next generation of consumers who haven't yet taken that first step toward guaranteed retirement income, in a fast, simplified manner."
With only a minimum of $100 to get started, it takes minutes to get set up, and in most cases applications are approved instantly, with no paper applications and no phone calls.
Next Deferred Income Annuity is available now in Alabama, Arizona, Colorado, Connecticut, DC, Delaware, Georgia, Indiana, Kansas, Kentucky, Louisiana, Maine, Michigan, Mississippi, Nebraska, Nevada, Ohio, South Dakota, Utah, West Virginia, and Wisconsin. Additional states will be added over the coming months.
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 2018 is compiled by Pacific Life using the 2018 FORTUNE 500® list. Pacific Life Insurance Company (Newport Beach, CA) is licensed to issue insurance products in all states except New York. Product availability and features may vary by state. Fixed annuity products are available through licensed third parties.
About Blueprint Income
Since launching in March 2018, Blueprint Income has been transforming the annuity market through its "simple annuities only" philosophy and its customer-centric user experience. The Company offers the Personal Pension (a subscription-based deferred income annuity), income annuities, and fixed annuities, all of which provide a guaranteed return or guaranteed lifetime income. Over 1.5 million users in 2018 trusted Blueprint Income with leading education content, quote information, and purchase fulfillment. The Company has been featured in Bloomberg, Forbes, and CNN Money and quoted in Morningstar and the New York Times.
Guarantees subject to claims-paying ability of the insurer. Annuities are not FDIC insured. Next Deferred Income Annuity does not allow withdrawals other than on the predefined schedule, with limited exceptions. Contracts may be subject to an additional 10% federal tax for annuity payments received prior to age 59 ½. For nonqualified contracts, an additional 3.8% federal tax may apply on net investment income. The information provided is not intended to be a recommendation to purchase an annuity. Pacific Life is unaffiliated with Blueprint Income, Inc.
Blueprint Income, Inc. and its fixed annuity producers are licensed in all states where Next Deferred Income Annuity is available. Please contact a Blueprint Income agent for more information. Read all product brochures and contracts carefully. To learn more, visit www.blueprintincome.com.
SOURCE Blueprint Income