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Separate Account A of Pacific Life Insurance Co – ‘497’ on 9/14/99

On:  Tuesday, 9/14/99   ·   Accession #:  1017062-99-1607   ·   File #:  33-88460

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 9/14/99  Sep Acct A of Pacific Life Ins Co 497                    1:21K                                    Donnelley R R & S… 11/FA

Definitive Material   —   Rule 497
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 497         Pacific Life Portfolio Supp Dated Sept. 13, 1999       8     40K 

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Supplement dated September 13th, 1999 to Prospectus dated May 1, 1999 for the Pacific Portfolios Variable Annuity Issued by Pacific Life Insurance Company ("Prospectus") Capitalized terms used in this Supplement are defined in the Prospectus referred to above unless otherwise defined herein. "We," "us", or "our" refer to Pacific Life Insurance Company; "you" or "your" refer to the Contract Owner. This Supplement which amends the Prospectus describes the optional Guaranteed Income Advantage Rider ("GIA Rider"). The AN OVERVIEW OF PACIFIC PORTFOLIOS section is amended as follows: Guaranteed Income Advantage Rider (Optional) The Guaranteed Income Advantage Rider ("GIA Rider") offers a guaranteed income advantage annuity option. You may buy the GIA Rider on the Contract Date or on any Contract Anniversary. The GIA Rider is not available in all states. Ask your registered representative about its current availability status in your state of residence. The expense table under Contract Expenses has been revised by adding: [Download Table] Guaranteed Income Advantage Rider Charge, calculated as a percentage of Contract Value/7/ 0.30% /7/ If you buy the Guaranteed Income Advantage Rider ("GIA Rider"), which is subject to state availability, we deduct this charge on each Contract Anniversary date and the Annuity Date, and when you make a full withdrawal, if the GIA Rider is in effect on that date, or when you terminate the GIA Rider. The information under Examples has been revised as follows: The following table shows the expenses you would pay on each $1,000 you invested if, at the end of each period, you: annuitized your Contract; surrendered your Contract and withdrew the Contract Value, or did not annuitize or surrender, but left the money in your Contract. These examples assume the following: . the Contract Value starts at $45,000 . the Investment Options have an annual return of 5% . the Annual Fee is deducted even when the Contract Value goes over $50,000 and a waiver would normally apply. without EGMDBR and GIA Rider reflects the expenses you would pay if you did not buy the optional Enhanced Guaranteed Minimum Death Benefit Rider ("EGMDBR") and the Guaranteed Income Advantage ("GIA") Rider. with EGMDBR reflects the expenses you would pay if you bought the optional Enhanced Guaranteed Minimum Death Benefit Rider, but not the GIA Rider. These expenses depend on the age of the youngest Annuitant on the Contract Date. with GIA Rider reflects the expenses you would pay if you bought the optional Guaranteed Income Advantage Rider, but not the Enhanced Guaranteed Minimum Death Benefit Rider. with EGMDBR and GIA Rider reflects the expenses you would pay if you bought the optional Enhanced Guaranteed Minimum Death Benefit Rider and the Guaranteed Income Advantage Rider.
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These examples do not show past or future expenses. Your actual expenses in any year may be more or less than those shown here. -------------------------------------------------------------------------------- [Enlarge/Download Table] Expenses if you did not annuitize or Expenses if you Expenses if you surrender, but left annuitized your surrendered your the money in your Contract ($) Contract ($) Contract ($) -------------------------------------------------------------------------------------- Variable Account 1 yr 3 yr 5 yr 10 yr 1 yr 3 yr 5 yr 10 yr 1 yr 3 yr 5 yr 10 yr -------------------------------------------------------------------------------------- Money Market without EGMDBR and GIA Rider 82 60 103 222 82 114 130 222 19 60 103 222 with EGMDBR: age 0-65 83 63 108 233 83 117 135 233 20 63 108 233 with EGMDBR: age 66-75 86 69 119 254 86 123 146 254 23 69 119 254 with GIA Rider 86 69 119 254 86 123 146 254 23 69 119 254 with EGMDBR and GIA Rider: age 0-65 87 72 124 264 87 126 151 264 24 72 124 264 with EGMDBR and GIA Rider: age 66-75 89 79 134 285 89 133 161 285 26 79 134 285 -------------------------------------------------------------------------------------- High Yield Bond without EGMDBR and GIA Rider 85 67 115 247 85 121 142 247 22 67 115 247 with EGMDBR: age 0-65 86 70 120 257 86 124 147 257 23 70 120 257 with EGMDBR: age 66-75 88 76 130 277 88 130 157 277 25 76 130 277 with GIA Rider 88 76 130 277 88 130 157 277 25 76 130 277 with EGMDBR and GIA Rider: age 0-65 89 79 135 287 89 133 162 287 26 79 135 287 with EGMDBR and GIA Rider: age 66-75 91 85 145 307 91 139 172 307 28 85 145 307 -------------------------------------------------------------------------------------- Managed Bond without EGMDBR and GIA Rider 85 67 115 247 85 121 142 247 22 67 115 247 with EGMDBR: age 0-65 86 70 120 257 86 124 147 257 23 70 120 257 with EGMDBR: age 66-75 88 76 130 277 88 130 157 277 25 76 130 277 with GIA Rider 88 76 130 277 88 130 157 277 25 76 130 277 with EGMDBR and GIA Rider: age 0-65 89 79 135 287 89 133 162 287 26 79 135 287 with EGMDBR and GIA Rider: age 66-75 91 85 145 307 91 139 172 307 28 85 145 307 -------------------------------------------------------------------------------------- Government Securities without EGMDBR and GIA Rider 85 67 115 247 85 121 142 247 22 67 115 247 with EGMDBR: age 0-65 86 70 120 257 86 124 147 257 23 70 120 257 with EGMDBR: age 66-75 88 76 130 277 88 130 157 277 25 76 130 277 with GIA Rider 88 76 130 277 88 130 157 277 25 76 130 277 with EGMDBR and GIA Rider: age 0-65 89 79 135 287 89 133 162 287 26 79 135 287 with EGMDBR and GIA Rider: age 66-75 91 85 145 307 91 139 172 307 28 85 145 307 --------------------------------------------------------------------------------------
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-------------------------------------------------------------------------------- [Enlarge/Download Table] Expenses if you did not annuitize or Expenses if you Expenses if you surrender, but left annuitized your surrendered your the money in your Contract ($) Contract ($) Contract ($) -------------------------------------------------------------------------------------- Variable Account 1 yr 3 yr 5 yr 10 yr 1 yr 3 yr 5 yr 10 yr 1 yr 3 yr 5 yr 10 yr -------------------------------------------------------------------------------------- Aggressive Equity without EGMDBR and GIA Rider 87 74 127 270 87 128 154 270 24 74 127 270 with EGMDBR: age 0-65 88 77 132 280 88 131 159 280 25 77 132 280 with EGMDBR: age 66-75 90 83 142 300 90 137 169 300 27 83 142 300 with GIA Rider 90 83 142 300 90 137 169 300 27 83 142 300 with EGMDBR and GIA Rider: age 0-65 91 86 147 310 91 140 174 310 28 86 147 310 with EGMDBR and GIA Rider: age 66-75 93 92 157 329 93 146 184 329 30 92 157 329 -------------------------------------------------------------------------------------- Growth LT without EGMDBR and GIA Rider 86 71 122 261 86 125 149 261 23 71 122 261 with EGMDBR: age 0-65 87 74 127 271 87 128 154 271 24 74 127 271 with EGMDBR: age 66-75 89 80 137 291 89 134 164 291 26 80 137 291 with GIA Rider 89 80 137 291 89 134 164 291 26 80 137 291 with EGMDBR and GIA Rider: age 0-65 90 84 142 301 90 138 169 301 27 84 142 301 with EGMDBR and GIA Rider: age 66-75 92 90 152 321 92 144 179 321 29 90 152 321 -------------------------------------------------------------------------------------- Equity Income without EGMDBR and GIA Rider 85 68 117 251 85 122 144 251 22 68 117 251 with EGMDBR: age 0-65 86 71 122 261 86 125 149 261 23 71 122 261 with EGMDBR: age 66-75 88 77 132 281 88 131 159 281 25 77 132 281 with GIA Rider 88 77 132 281 88 131 159 281 25 77 132 281 with EGMDBR and GIA Rider: age 0-65 89 81 137 291 89 135 164 291 26 81 137 291 with EGMDBR and GIA Rider: age 66-75 91 87 147 311 91 141 174 311 28 87 147 311 -------------------------------------------------------------------------------------- Multi-Strategy without EGMDBR and GIA Rider 85 69 118 252 85 123 145 252 22 69 118 252 with EGMDBR: age 0-65 86 72 123 262 86 126 150 262 23 72 123 262 with EGMDBR: age 66-75 88 78 133 282 88 132 160 282 25 78 133 282 with GIA Rider 88 78 133 282 88 132 160 282 25 78 133 282 with EGMDBR and GIA Rider: age 0-65 89 81 138 292 89 135 165 292 26 81 138 292 with EGMDBR and GIA Rider: age 66-75 91 87 148 312 91 141 175 312 28 87 148 312 -------------------------------------------------------------------------------------- Large-Cap Value without EGMDBR and GIA Rider 87 75 128 272 87 129 155 272 24 75 128 272 with EGMDBR: age 0-65 88 78 133 282 88 132 160 282 25 78 133 282 with EGMDBR: age 66-75 90 84 143 302 90 138 170 302 27 84 143 302 with GIA Rider 90 84 143 302 90 138 170 302 27 84 143 302 with EGMDBR and GIA Rider: age 0-65 91 87 148 312 91 141 175 312 28 87 148 312 with EGMDBR and GIA Rider: age 66-75 93 93 158 331 93 147 185 331 30 93 158 331 --------------------------------------------------------------------------------------
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-------------------------------------------------------------------------------- [Enlarge/Download Table] Expenses if you did not annuitize or Expenses if you Expenses if you surrender, but left annuitized your surrendered your the money in your Contract ($) Contract ($) Contract ($) -------------------------------------------------------------------------------------- Variable Account 1 yr 3 yr 5 yr 10 yr 1 yr 3 yr 5 yr 10 yr 1 yr 3 yr 5 yr 10 yr -------------------------------------------------------------------------------------- Mid-Cap Value without EGMDBR and GIA Rider 87 75 128 272 87 129 155 272 24 75 128 272 with EGMDBR: age 0-65 88 78 133 282 88 132 160 282 25 78 133 282 with EGMDBR: age 66-75 90 84 143 302 90 138 170 302 27 84 143 302 with GIA Rider 90 84 143 302 90 138 170 302 27 84 143 302 with EGMDBR and GIA Rider: age 0-65 91 87 148 312 91 141 175 312 28 87 148 312 with EGMDBR and GIA Rider: age 66-75 93 93 158 331 93 147 185 331 30 93 158 331 -------------------------------------------------------------------------------------- Equity without EGMDBR and GIA Rider 85 69 118 252 85 123 145 252 22 69 118 252 with EGMDBR: age 0-65 86 72 123 262 86 126 150 262 23 72 123 262 with EGMDBR: age 66-75 88 78 133 282 88 132 160 282 25 78 133 282 with GIA Rider 88 78 133 282 88 132 160 282 25 78 133 282 with EGMDBR and GIA Rider: age 0-65 89 81 138 292 89 135 165 292 26 81 138 292 with EGMDBR and GIA Rider: age 66-75 91 87 148 312 91 141 175 312 28 87 148 312 -------------------------------------------------------------------------------------- Bond and Income without EGMDBR and GIA Rider 85 68 117 251 85 122 144 251 22 68 117 251 with EGMDBR: age 0-65 86 71 122 261 86 125 149 261 23 71 122 261 with EGMDBR: age 66-75 88 77 132 281 88 131 159 281 25 77 132 281 with GIA Rider 88 77 132 281 88 131 159 281 25 77 132 281 with EGMDBR and GIA Rider: age 0-65 89 81 137 291 89 135 164 291 26 81 137 291 with EGMDBR and GIA Rider: age 66-75 91 87 147 311 91 141 174 311 28 87 147 311 -------------------------------------------------------------------------------------- Equity Index without EGMDBR and GIA Rider 80 53 92 199 80 107 119 199 17 53 92 199 with EGMDBR: age 0-65 81 56 97 210 81 110 124 210 18 56 97 210 with EGMDBR: age 66-75 83 63 107 231 83 117 134 231 20 63 107 231 with GIA Rider 83 63 107 231 83 117 134 231 20 63 107 231 with EGMDBR and GIA Rider: age 0-65 84 66 113 242 84 120 140 242 21 66 113 242 with EGMDBR and GIA Rider: age 66-75 86 72 123 263 86 126 150 263 23 72 123 263 -------------------------------------------------------------------------------------- Small-Cap Index without EGMDBR and GIA Rider 84 64 110 236 84 118 137 236 21 64 110 236 with EGMDBR: age 0-65 85 67 115 247 85 121 142 247 22 67 115 247 with EGMDBR: age 66-75 87 73 125 267 87 127 152 267 24 73 125 267 with GIA Rider 87 73 125 267 87 127 152 267 24 73 125 267 with EGMDBR and GIA Rider: age 0-65 88 76 130 277 88 130 157 277 25 76 130 277 with EGMDBR and GIA Rider: age 66-75 90 82 140 298 90 136 167 298 27 82 140 298 --------------------------------------------------------------------------------------
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-------------------------------------------------------------------------------- [Enlarge/Download Table] Expenses if you did not annuitize or Expenses if you Expenses if you surrender, but left annuitized your surrendered your the money in your Contract ($) Contract ($) Contract ($) -------------------------------------------------------------------------------------- Variable Account 1 yr 3 yr 5 yr 10 yr 1 yr 3 yr 5 yr 10 yr 1 yr 3 yr 5 yr 10 yr -------------------------------------------------------------------------------------- REIT without EGMDBR and GIA Rider 90 82 140 297 90 136 167 297 27 82 140 297 with EGMDBR: age 0-65 91 85 145 307 91 139 172 307 28 85 145 307 with EGMDBR: age 66-75 93 91 155 326 93 145 182 326 30 91 155 326 with GIA Rider 93 91 155 326 93 145 182 326 30 91 155 326 with EGMDBR and GIA Rider: age 0-65 94 94 160 336 94 148 187 336 31 94 160 336 with EGMDBR and GIA Rider: age 66-75 96 100 170 354 96 154 197 354 33 100 170 354 -------------------------------------------------------------------------------------- International without EGMDBR and GIA Rider 88 77 132 281 88 131 159 281 25 77 132 281 with EGMDBR: age 0-65 89 80 137 291 89 134 164 291 26 80 137 291 with EGMDBR: age 66-75 91 86 147 311 91 140 174 311 28 86 147 311 with GIA Rider 91 86 147 311 91 140 174 311 28 86 147 311 with EGMDBR and GIA Rider: age 0-65 92 89 152 320 92 143 179 320 29 89 152 320 with EGMDBR and GIA Rider: age 66-75 94 96 162 340 94 150 189 340 31 96 162 340 -------------------------------------------------------------------------------------- Emerging Markets without EGMDBR and GIA Rider 93 91 155 326 93 145 182 326 30 91 155 326 with EGMDBR: age 0-65 94 94 160 335 94 148 187 335 31 94 160 335 with EGMDBR: age 66-75 96 100 170 354 96 154 197 354 33 100 170 354 with GIA Rider 96 100 170 354 96 154 197 354 33 100 170 354 with EGMDBR and GIA Rider: age 0-65 97 103 175 363 97 157 202 363 34 103 175 363 with EGMDBR and GIA Rider: age 66-75 99 109 184 382 99 163 211 382 36 109 184 382 --------------------------------------------------------------------------------------
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The following is added to the CHARGES, FEES AND DEDUCTIONS section: Guaranteed Income Advantage Charge (Optional Rider) If you purchase the GIA Rider, we deduct annually a Guaranteed Income Advantage Charge ("GIA Charge") for expenses related to the GIA Rider. The GIA Charge is equal to 0.30% multiplied by your Contract Value on the date the Charge is deducted. We will deduct the GIA Charge from your Investment Options on a proportionate basis: . on each Contract Anniversary the GIA Rider remains in effect; . on the Annuity Date, if the GIA Rider is still in effect; . when the GIA Rider is terminated. Any portion of the GIA Charge we deduct from the Fixed Option, the DCA Plus Fixed Option and the Guaranteed Interest Options ("GIOs") will not be greater than the annual interest credited in excess of 3%. If you terminate the GIA Rider, we will charge your Contract for the annual GIA Charge on the effective date of termination. If you make a full withdrawal of the amount available for withdrawal during a Contract Year, we will deduct the entire GIA Charge for the Contract Year in which you make the full withdrawal from the final payment made to you. The following is added to the PURCHASING YOUR CONTRACT section: Purchasing the Guaranteed Income Advantage Rider (Optional) You may purchase the GIA Rider on the Contract Date or on any Contract Anniversary. You may purchase the GIA Rider only if the age of each Annuitant is 80 years or younger on the date the GIA Rider is purchased. The GIA Rider will remain in effect until the earlier of: . a full withdrawal of the amount available for withdrawal under the Contract; . a death benefit becomes payable under the Contract; . any termination of the Contract in accordance with the terms of the Contract; . the Annuity Date; or . termination of the GIA Rider. You may terminate the GIA Rider on the fifth Contract Anniversary or on any later Contract Anniversary. The following is added to the RETIREMENT BENEFITS AND OTHER PAYOUTS section under Choosing Your Annuity Option: Guaranteed Income Advantage Annuity Option If you purchase the GIA Rider, you may choose any of the Annuity Options described in the Prospectus, or you may choose the Guaranteed Income Advantage Annuity Option if 10 years have passed since the GIA Rider was purchased and the GIA Rider is still in effect. You must choose fixed annuity payments under this Guaranteed Income Advantage Annuity Option.
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The guaranteed income purchased per $1,000 of the net amount applied to the annuity payments will be based on an annual interest rate of 2.5% and the 1983a Annuity Mortality Table with the age set back 10 years. The net amount applied to the annuity payments under the Guaranteed Income Advantage Annuity Option will be based on the higher of the Guaranteed Income Base or the Enhanced Income Base, which are described below. 1. Guaranteed Income Base--If you purchase the GIA Rider on the Contract Date, the Guaranteed Income Base is equal to the Purchase Payments less an adjustment for each withdrawal, increased at a 5% effective annual rate of interest. We calculate the adjustment for each withdrawal by multiplying the Guaranteed Income Base prior to a withdrawal by the ratio of the amount of the withdrawal, including applicable withdrawal charges and MVAs, to the Contract Value immediately prior to withdrawal. If you purchase the GIA Rider on a Contract Anniversary after the Contract Date, the Guaranteed Income Base is equal to the Contract Value on the date the GIA Rider is purchased, plus all Purchase Payments made after the GIA Rider is purchased, less an adjustment for each withdrawal occurring after the GIA was elected, increased at a 5% effective annual rate of interest. We calculate the adjustment for each withdrawal by multiplying the Guaranteed Income Base prior to the withdrawal by the ratio of the amount of the withdrawal, including applicable withdrawal charges and MVAs to the Contract Value immediately prior to the withdrawal. The effective annual rate of interest will take into account the timing of when each Purchase Payment and withdrawal occurred. We accomplish this by applying a daily factor of 1.000133681 to each day's Guaranteed Income Base balance. The 5% effective annual rate of interest will stop accruing as of the earlier of: . the Contract Anniversary following the date the youngest Annuitant reaches his or her 80th birthday; . a full withdrawal of the amount available for withdrawal under the Contract; . a death benefit becomes payable under the Contract; . any termination of the Contract in accordance with the provisions of the Contract; . the Annuity Date; or . termination of the GIA Rider. On the Annuity Date, the net amount we apply to the annuity payments will be the Guaranteed Income Base reduced by any remaining withdrawal charges associated with additional Purchase Payments added to the Contract, any MVAs, any applicable state premium tax, and any outstanding Contract Debt. 2. Enhanced Income Base--The Enhanced Income Base is equal to your Net Contract Value on the Annuity Date plus an additional 15% of the amount equal to: . the Net Contract Value on the Annuity Date; . less the sum of all Purchase Payments applied to the Contract in the 12 months prior to the Annuity Date. On the Annuity Date, the net amount we apply to the annuity payments will be the Enhanced Income Base reduced by any withdrawal charges, MVAs, and any applicable state premium tax. The structure of the annuity payments that may be elected under the Guaranteed Income Advantage Annuity Option are: . 15 years or more Period Certain; . Life;
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. Joint and Survivor Life; . Life with 10 Years or More Period Certain. If you purchase the Guaranteed Income Advantage ("GIA") Annuity Option, the waiver of withdrawal charges upon annuitization will not apply. We will reduce the net amount applied to the annuity payments under the Guaranteed Income Advantage Annuity Option by any remaining withdrawal charges. The rider contains annuity tables for each GIA Annuity Option available. PPGIA0999

Dates Referenced Herein

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Filed on:9/14/99None on these Dates
5/1/991
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Filing Submission 0001017062-99-001607   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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