497VPU 1 a23-33509_36497vpu.htm 497VPU

Supplement dated December 27, 2023 to the Initial Summary Prospectus, Updating Summary Prospectus and Statutory Prospectus dated May 1, 2023 for the following variable annuity contracts:

Issued by Pacific Life Insurance Company  

Issued by Pacific Life & Annuity Company

 
Pacific Choice Variable Annuity
Pacific Choice Income
Pacific Choice 2
Pacific Innovations
Pacific Innovations Select
Pacific Journey
Pacific Journey Select
(Offered before October 1, 2013)
Pacific Journey Select
(Offered on and after October 1, 2013)
Pacific Navigator
Pacific Odyssey
(Offered before October 1, 2013)
Pacific Odyssey
(Offered on and after October 1, 2013)
Pacific One
Pacific One Select
Pacific Portfolios
Pacific Portfolios for Chase
Pacific Quest
Pacific Select Variable Annuity
Pacific Value
Pacific Value Edge
Pacific Value for Prudential
Pacific Value Select
(Offered before October 1, 2013)
Pacific Value Select
(Offered on and after October 1, 2013)
Pacific Voyages
  Pacific Choice Variable Annuity
Pacific Choice 2
Pacific Innovations Select
Pacific Journey Select
(Offered before October 1, 2013)
Pacific Journey Select
(Offered on and after October 1, 2013)
Pacific Odyssey
(Offered before October 1, 2013)
Pacific Odyssey
(Offered on and after October 1, 2013)
Pacific One Select
Pacific Navigator
Pacific Portfolios
Pacific Portfolios for Chase
Pacific Quest
Pacific Value
Pacific Value Select
(Offered before October 1, 2013)
Pacific Value Select
(Offered on and after October 1, 2013)
Pacific Voyages
Pacific Value Edge
 

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 "Prospectuses") 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 and 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 PacificLife.com/Prospectuses. Please retain this supplement for future reference.

Effective January 1, 2024, the underlying fund information related to the Current Expenses in the APPENDIX: FUNDS AVAILABLE UNDER THE POLICY section will be deleted and replaced with the following:

Fund; Advisor (Subadvisor)  

Current Expenses

 
Pacific Select Fund Value Advantage Portfolio Class I; Pacific Life Fund
Advisors LLC (J.P. Morgan Investment Management Inc.)
  0.87%1  

1​ To help limit Fund expenses, Fund advisers have contractually agreed to reduce investment advisory fees or otherwise reimburse certain Funds which reflect temporary fee reductions. There can be no assurance that Fund expense waivers or reimbursements will be extended beyond their current terms as outlined in each Fund prospectus, and they may not cover certain expenses such as extraordinary expenses. See each Fund prospectus for complete information regarding these arrangements.

Form No. VASUPP1223
NYSUPP1223