Pacific Life recently announced that it has enhanced its Pacific Index Dimensions® fixed indexed annuity. The product now includes five new crediting options linked to the BofA Iris U.S. Sectors Index, two of which can be used with the Index Lock-In Feature that gives clients the ability to lock in market gains. The BofA Iris U.S. Sectors Index is designed to smooth out the market's ups and downs by using artificial intelligence (AI) to analyze data from companies listed on the domestic stock exchanges to guide its U.S. equity sector allocation.

Using rules-based, natural language processing (NLP) to scrutinize data from quarterly earnings-call transcripts of up to 3,000 companies every quarter, the index targets 5% annualized volatility and rebalances among equity sectors, U.S. Treasurys, and cash. In addition to the 2-Year Participation Rate and 2-Year Enhanced Participation Rate crediting options, Pacific Index Dimensions also includes three other options that will use the BofA Iris U.S. Sectors Index: 1-Year Point- to-Point with Cap, 1-Year Participation Rate, and 1-Year Enhanced Participation Rate. Pacific Index Dimensions is available through financial professionals affiliated with independent marketing organizations and through the Producer Alliance program.