INITIAL SUMMARY PROSPECTUS FOR NEW INVESTORS

[Date, 2026]

PACIFIC PROTECTIVE GROWTH [2.0]

Issued by Pacific Life Insurance Company

This summary prospectus summarizes key features of Pacific Protective Growth [2.0], a limited premium registered index-linked deferred annuity contract. Before you invest, you should also review the statutory prospectus for this Contract, which contains more information about the Contract’s features, benefits, and risks. You can find this document and other information about the Contract online at PacificLife.com/Prospectuses. You can also obtain this information at no cost by calling (833) 455-0901or by sending an email request to Prospectuses@PacificLife.com.

If you are a new investor in the Contract, you may cancel your Contract within 10 days (30 calendar days if you are replacing another annuity contract or life insurance policy) of receiving it without paying fees or penalties, although we may apply an Interim Value Calculation to determine the amount you will receive upon cancellation. In some states, this cancellation period may be longer. Upon cancellation, you will generally receive a return of Purchase Payments minus any prior withdrawals, but in some states, you may receive the Interim Value of your Contract, plus any value in the Fixed Account Option. You should review this summary prospectus and consult with your investment professional for additional information about the specific cancellation terms that apply.

Additional information about certain investment products, including index-linked annuity contracts, has been prepared by the Securities and Exchange Commission’s staff and is available at Investor.gov.

To view our latest Privacy Notice, please visit https://paclife.co/privacy-promise or contact (877) 722-7848 for additional information.

TABLE OF CONTENTS

SPECIAL TERMS

Some of the terms we’ve used in this Prospectus may be new to you. We have identified these terms and provided explanations of what they mean below. These terms are capitalized throughout the Prospectus except as otherwise noted.

To make this Summary Prospectus easier to read, we sometimes use different terminology and phrases in this Summary Prospectus (and in the Contract) than in supplemental or marketing materials. Any alternate terminology used for specific terms is indicated in the definitions below. Although we may use different words, the descriptions of how the product works in the Summary Prospectus and Statutory Prospectus, Contracts, and supplemental or marketing materials are wholly consistent. Your financial professional can also provide further explanation about this Summary Prospectus, your Contract or supplemental materials.

Adjusted Index Return —The percentage rate at which we credit interest to the Index-Linked Option Value at the end of each Term or to the Annual Period Value at the end of an Annual Period. For Point to Point ILOs, the Adjusted Index Return is determined by comparing the Index Price on the Term Start Date to the Index Price on the Term End Date of a Term. For SecureCap ILOs, the Adjusted Index Return is determined by comparing the Index Price at the start of an Annual Period to the Index Price at the end of an Annual Period, and applying any applicable adjustment for the Crediting Strategy or Protection Level. The Adjusted Index Return can be positive, negative, or equal to zero. The Adjusted Index Return is multiplied by the Investment Base to get the dollar amount of the Index-Linked Option Credit. For SecureCap ILOs, the Adjusted Index Return is multiplied by the current Annual Period Value at the end of each Annual Period to determine the dollar amount of the Annual Period Credit. The application of a negative Adjusted Index Return will result in a reduction of the Investment Base or Annual Period Value by the dollar amount of the Index-Linked Option Credit or Annual Period Credit. The application of a positive Adjusted Index Return will result in an increase to the Investment Base or Annual Period Value by the dollar amount of the Index-Linked Option Credit or Annual Period Credit.

Annual Period Credit – The dollar-value added to or subtracted from the Annual Period Value, as applicable, on the Contract Anniversary at the end of each 1-year Annual Period of a SecureCap ILO. The Annual Period Credit is determined by multiplying the Adjusted Index Return for the Annual Period by the current Annual Period Value. The Annual Period Credit may be positive, negative, or equal to zero. Any gains or losses reflected in your Annual Period Value due to Annual Period Credits are not locked in or credited to your Investment Base until the Term End Date.

Annual Period – A 1-year period from one Contract Anniversary to the next Contract Anniversary during a 6-year SecureCap ILO Term, provided that in the case of a Subsequent Purchase Payment, the first Annual Period will begin on the ILO Term Start Date and end on the next Contract Anniversary. The end of an Annual Period Value will always correspond to a Contract Anniversary. There are 6 Annual Periods during a Term for an ILO that utilizes the SecureCap Crediting Strategy.

Annual Period Value – The value used to determine the ILO Credit at the end of a SecureCap ILO Term. The Annual Period Value at the start of the Term is the Investment Base. On the first Contract Anniversary following the start of the Term, the Annual Period Value is determined by multiplying the Adjusted Index Return for the first Annual Period Value by the current Annual Period Value to determine the Annual Period Credit. This amount is added to, or subtracted from, the Annual Period Value, and this sum is the

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Annual Period Value for the next Annual Period. On each subsequent Contract Anniversary during the Term, the Adjusted Index Return for that Annual Period is multiplied by the current Annual Period Value to determine the Annual Period Credit for that Annual Period. The Annual Period Credit is then added to, or subtracted from, the current Annual Period Value to determine the new Annual Period Value for the next Annual Period. The Annual Period Value is reduced proportionally for any withdrawals that occur during the Term. The Annual Period Value is not available to you. Any gains or losses reflected in your Annual Period Value are not locked in or credited to your Investment Base until the Term End Date when the ILO Credit is applied to your Investment Base.

Annuitant — The person on whose life annuity payments may be determined. An Annuitant’s life may also be used to determine death benefits, in the case of a Non- Natural Owner, and to determine the Annuity Date. A Contract may name a single (“sole”) Annuitant or two (“Joint”) Annuitants. You may choose a Contingent Annuitant only if you have a sole Annuitant (you cannot have Joint Annuitants and a Contingent Annuitant at the same time). If you name Joint Annuitants or a Contingent Annuitant, “the Annuitant” means the sole surviving Annuitant, unless otherwise stated.

Annuity Date — The date annuity payments are scheduled to begin if the Annuitant (or Joint Annuitants) is (or are) still living and your Contract is in force. The maximum Annuity Date is the Annuitant’s 110th birthday (youngest Annuitant’s 110th birthday if there are Joint Annuitants) and is the latest date we will begin paying you an annuity income.State variations may apply. See APPENDIX E: STATE VARIATIONS in the Prospectus. You may contact us if you would like to change your Annuity Date.

Annuity Option — Any one of the income options available for a series of payments after the Annuity Date.

[AutoLock] — An option of Performance Lock that allows you to set specific targets to automatically process Performance Lock to “lock-in” the Interim Value of all or a portion of an ILO Vintage, before the Term End Date.

Buffer (Buffer Rate) — A type of Protection Level that provides limited or full protection against negative Index performance. The Buffer Rate protects against negative Index Return up to the stated Buffer percentage. Any negative Index Return in excess of the Buffer Rate will result in a negative Adjusted Index Return at the end of a Term or Annual Period. The Buffer Rates are guaranteed not to change for as long as we continue to offer those Index-Linked Options. The 1-year S&P 500^® with Cap and 10% Buffer ILO will always be available under your Contract.

Business Day — Each day the New York Stock Exchange (“NYSE”) is open for regular trading. Each Business Day ends when the NYSE closes each day which is typically 4:00 p.m. Eastern Standard Time. In this Prospectus, references to “day” or “date” means Business Day unless otherwise specified. If any transaction or event called for under a Contract is scheduled to occur on a day that is not a Business Day, such transaction or event will be deemed to occur on the next following Business Day unless otherwise specified. If any transaction is requested for a day that does not exist in a given calendar month, it will occur on the last day of such month. Any systematic pre-authorized transaction scheduled to occur on December 30th or December 31st where that day is not a Business Day will be deemed an order for the last Business Day of the calendar year and will be calculated using the applicable values at the close of that Business Day.

Cap Rate with Participation Rate — A type of Crediting Strategy. The Cap Rate is the maximum amount of positive Index Return that can be credited to the Investment Base at the end of a Term. The Participation Rate is the percentage portion of the positive Index Return that will be used to determine the Index-Linked Option Credit. The Cap Rate limits the potential positive Index-Linked Option Credit that may be applied at the end of a Term. In some cases, we may declare a Cap Rate for an ILO as “uncapped” in which case the amount of positive Index Return that can be credited to your ILO Value at the end of a Term is equal to the Index Return, subject to any applicable Participation Rate.

Cap Rate with Dual Direction Buffer (“Dual Direction”) — A type of Crediting Strategy. The Adjusted Index Return will equal any positive Index Return up to the Cap Rate, or the absolute value of any negative Index Return up to the Buffer Rate. The absolute value of a number is simply that number without regard to it being positive or negative. For example, the absolute value of -10 is 10. If the positive Index Return exceeds the Cap Rate, the Adjusted Index Return will equal the Cap Rate. If the negative Index Return exceeds the Buffer Rate, the Adjusted Index Return will equal the negative Index Return in excess of the Buffer Rate. In marketing and supplemental materials, we sometimes may refer to the Cap Rate with Dual Direction Buffer Crediting Strategy as simply the “Dual Direction Crediting Strategy.” In some cases, we may declare a Cap Rate for an ILO as "uncapped" in which case the amount of positive Index Return than can be credited to your ILO Value at the end of a Term is equal to the Index Return.

Cash Surrender Value — The amount available upon full surrender of the Contract. The Cash Surrender Value is the Contract Value (which may be the Interim Value), adjusted for any applicable surrender charges, rider charges, and charges for premium and other taxes.

Code — The Internal Revenue Code of 1986, as amended.

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Contingent Annuitant — A person, if named in your Contract, who will become the sole surviving Annuitant if the existing sole Annuitant should die before the Annuity Date.

Contingent Beneficiary — A person, if any, you select to become the Beneficiary if the Beneficiary predeceases the Owner (or Annuitant in the case of a Non-Natural Owner).

Contract Anniversary — The same date, each subsequent year, as your Contract Issue Date.

Contract Issue Date — The date we issue your Contract. The Contract Issue Date will be no later than two Business Days after we receive your initial Purchase Payment and Contract application In Proper Form. Contract Years and Contract Anniversaries are measured from this date.

Contract Owner, Owner, you, or your — Generally, a person who purchases a Contract and makes the investments. A Contract Owner has all rights in the Contract, including the right to make withdrawals, designate and change Beneficiaries, transfer amounts among the Interest Crediting Options, and designate an Annuity Option. If your Contract names Joint Owners, both Joint Owners are Contract Owners and share all such rights. Except in the case of a Non-Natural Owner, the Owner’s life is used to determine death benefits.

Contract Value — The total amount attributable to your Contract. The Contract Value is the sum of the Index-Linked Option Values and the Fixed Account Option Value.

Contract Year — The 12-month period beginning on the Contract Issue Date and on each Contract Anniversary date thereafter.

Crediting Strategy (“strategy”) — The method of determining the amount of positive interest, if any, credited to your Index-Linked Option Value for each Term. The Crediting Strategy rate declared on the Term Start Date is guaranteed for the duration of the Term in which you are invested (including for each Annual Period during a SecureCap Term). The Crediting Strategies offered under the Contract are listed in Appendix A of this Prospectus. Each Index-Linked Option will apply only one type of Crediting Strategy.

Dual Direction Buffer Rate (“Dual Direction Buffer”) —A type of Protection Level. The Dual Direction Buffer is only offered with the Cap Rate with Dual Direction Buffer Crediting Strategy. The Adjusted Index Return will equal the absolute value of any negative Index Return up to the Dual Direction Buffer Rate. The absolute value of a number is simply that number without regard to it being positive or negative. For example, the absolute value of -10 is 10. The positive interest credited by the Dual Direction Buffer may exceed the Cap Rate. If the negative Index Return exceeds the Dual Direction Buffer Rate, the Adjusted Index Return will equal the negative Index Return in excess of the Dual Direction Buffer Rate.

Fixed Account Option Guaranteed Minimum Surrender Value — The minimum value you will receive as the Fixed Account Option Value upon full surrender of the Contract, death, or annuitization. The Fixed Account Option Guaranteed Minimum Surrender Value is equal to all amounts allocated to the Fixed Account Option multiplied by the Guaranteed Minimum Surrender Value Percentage of 87.5% adjusted for any partial withdrawals or transfers from the Fixed Account Option, then accumulated at the non-forfeiture rate, which ranges from 0.15% to 3.00% depending on the applicable state law.

Fixed Account Option (the “Fixed Account”) — An Interest Crediting Option to which Purchase Payments and transfers may be allocated that credits a fixed rate of interest daily at the declared rate, subject to the 0.50% Minimum Guaranteed Rate for the Fixed Account. The Fixed Account Option will always be available under the Contract.

Fixed Account Option Value — The Purchase Payments or value allocated to the Fixed Account Option plus interest credited daily that compounds over one year at the Guaranteed Rate, less transfers and deductions for any withdrawals.

Guaranteed Rate for the Fixed Account Option (Guaranteed Rate) — The annual rate of interest that we declare from time to time for the Fixed Account Option and which accrues daily. The Guaranteed Rate for the Fixed Account will be declared on each Contract Anniversary and will never be less than the Minimum Guaranteed Rate for the Fixed Account of 0.50%.

In Proper Form (In Good Order) — This is the standard we apply when we determine whether an instruction is satisfactory to us. An instruction (in writing or by other means that we accept (e.g. via telephone or electronic submission)) is considered to be In Proper Form if it is received at our Service Center in a manner that is satisfactory to us, such that is sufficiently complete and clear so that we do not have to exercise any discretion to follow the instruction, including any information and supporting legal documentation necessary to effect the transaction. Any forms that we provide will identify any necessary supporting documentation. We may, in our sole discretion, determine whether any particular transaction request is In Proper Form, and we reserve the right to change or waive any In Proper Form requirements at any time.

Index — The market index or exchange-traded fund (“ETF”) used to determine the Index Return and any Adjusted Index Return that is credited to an Index-Linked Option Vintage at the end of a Term or the Annual Period Value at the end of an Annual Period. Each Index is a price return index, not a total return index, and therefore its performance does not reflect any dividends or distributions paid by the Index’s component companies. Pacific Life reserves the right to add, remove, or replace an Index.

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Index-Linked Option (“ILO”) — An Interest Crediting Option under the Contract that provides for credited interest based on the performance of a particular Index (or Indexes) and the applicable Crediting Strategy and Protection Level. Each ILO varies by Index, Crediting Strategy, Protection Level, and Term length. Separate ILO Vintages of the same Index-Linked Option may be active with distinct Term Start Dates and Term End Dates. Each ILO Vintage is tracked separately with its own associated Index-Linked Option Value. In marketing and supplemental materials, we sometimes may refer to ILOs as “crediting strategies.”

Index-Linked Option (“ILO”) Credit — The dollar amount of interest added to or subtracted from the Index-Linked Option Investment Base at the end of a Term. For Point-to-Point ILOs, the Index-Linked Option Credit is equal to the Investment Base multiplied by the Adjusted Index Return. For SecureCap ILOs, the Index-Linked Option Credit is equal to the Annual Period Value minus the Investment Base on the Term End Date. The Index-Linked Option Credit may be positive, negative, or zero according to the Adjusted Index Return. The Index-Linked Option Credit is determined and applied separately for each ILO Vintage based on the values attributable to that ILO Vintage.

Index-Linked Option (“ILO”) Value — Refers to both the total amount invested in a single Index-Linked Option Vintage, or the entire amount of your Contract Value invested in multiple Index-Linked Option Vintages. On the Term Start Date, the Index- Linked Option Value is equal to the Investment Base. On all days except for the Term Start Date and the Term End Date, the Index-Linked Option Value is equal to the Interim Value. On the Term End Date, the Index-Linked Option Value is equal to the Investment Base adjusted for the Index-Linked Option Credit(s), which may be positive, negative, or equal to zero. The Index-Linked Option Value is determined separately for each ILO Vintage based on the values attributable to that ILO Vintage.

Index-Linked Option (“ILO”) Vintage — Refers to a segment of an ILO based on its specific Term Start Date and/or Term End Date. A single ILO may have multiple ILO Vintages simultaneously each with a different Term Start Date and/or Term End Date. Each ILO Vintage is tracked separately with its own associated Investment Base, Interim Value and ILO Value. Multiple vintages of the same ILO may be created due to a Subsequent Purchase Payment, Performance Lock of a portion of the Interim Value of an ILO, Pre-Anniversary Transfer, or allocation to an ILO with a multi-year Term on different Contract Anniversaries.

Index Price — The prices for the Indexes that are published by the Index providers as of the close of the New York Stock Exchange (NYSE) each day that the NYSE is open. On any day that the NYSE is not open, the Index Price from the last NYSE close will apply. The change in the Index Price over the course of a Term or Annual Period is used to determine the Index Return.

Index Return — Represents the price performance of the Index. The Index Return is the percentage change in the Index Price Point to Point (or for SecureCap ILOs, from the beginning of an Annual Period to the end of the Annual Period), before any applicable adjustment for the Crediting Strategy or Protection Level. The Index Return can be positive, negative, or equal to zero.

Interest Crediting Option(s) — The Index-Linked Options and the Fixed Account Option offered under this Contract to which Purchase Payments and transfers may be allocated and that provides for credited interest.

Interim Value — The value of an ILO Vintage in which you invest on any date during the Term after the Term Start Date and before the Term End Date. The Interim Value is determined separately for each ILO Vintage based on the values attributable to that ILO Vintage.

Interim Value Adjustment (or “Adjustment”) — The proportionate reduction to your ILO Investment Base, Annual Period Value (if applicable), and death benefit that occurs when a withdrawal is made from an ILO Vintage during a Term based on Interim Values. The Investment Base, Annual Period Value (if applicable), and death benefit are reduced by the same proportion (rather than on a dollar-for-dollar basis) that the Interim Value is reduced by the withdrawal. The Interim Value Adjustment is determined and applied separately for each ILO Vintage, based on the Interim Value of that ILO Vintage.

Interim Value Calculation — The calculation of the Interim Value as a result of a withdrawal or surrender from an ILO Vintage, during a Term.

Investment Base — The amount that is allocated to an ILO Vintage, on the Term Start Date, reduced thereafter for withdrawals during the Term (including applicable surrender charges and taxes) or optional rider charges during the term, and to which is applied the ILO Credit on the Term End Date.

Joint Annuitant — If your Contract is a Non-Qualified Contract, you may name two Annuitants, called “Joint Annuitants,” in your application for your Contract. Special restrictions may apply for Qualified Contracts.

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Minimum Guaranteed Rate for the Fixed Account — The minimum Guaranteed Rate for the Fixed Account Option is [0.50%]. Once a Contract is issued, the Minimum Guaranteed Rate for the Fixed Account Option under that Contract will not change. The applicable Minimum Guaranteed Rate for the Fixed Account Option can also be found in your Contract.

Minimum Limit on Index Gain — The minimum percentage, for the life of the Index-Linked Option, We may use in any Crediting Strategy to limit the amount of positive Index Return credited on the Term End Date. (In the contracts, We may refer to these Minimum Limits on Index Gains as “guaranteed minimum” rates).

Non-Natural Owner — A corporation, trust or other entity that is not a (natural) person.

Non-Qualified Contract — A Contract other than a Qualified Contract.

Notice Date — The Business Day on which we receive, In Proper Form, proof of death and instructions regarding payment of death benefit proceeds.

Pacific Life (“we,” “us,” and “our”) — Pacific Life Insurance Company

Performance Mix with Participation Rate and Cap Rate (“Performance Mix”)— A type of Crediting Strategy that determines the Index Return based on the combined weighted average of the performance of the S&P 500^®, iShares^® Russell 2000 ETF, and MSCI EAFE Indexes. The Participation Rate is the percentage portion of the combined positive Index Return that will be used to determine the Index-Linked Option Credit. The Cap Rate is the maximum amount of positive Index Return that can be credited to the Investment Base at the end of a Term and is applied to the Index Return after the Participation Rate. The Participation Rate and Cap Rate limit the potential positive Index-Linked Option Credit that may be applied at the end of a Term. In some cases, we may declare a Cap Rate for an ILO as “uncapped” in which case the amount of positive Index Return than can be credited to your ILO Value at the end of a Term is equal to the combined Index Return, subject to the Participation Rate.

Performance Lock — A feature offered under the Contract for all ILO Vintages that allows you to “lock-in” the Interim Value of all or a portion of an ILO Vintage before the Term End Date. The Performance Lock feature can be processed manually by providing instructions, or automatically based on predetermined targets through the [AutoLock] feature. If the Performance Lock feature is exercised during a Term and you do not elect Pre-Anniversary Transfer, your Index-Linked Option Value for the part of the ILO Vintage for which the Performance Lock feature was exercised will equal the Interim Value on the date Performance Lock is exercised and will be credited with the Performance Lock Rate beginning on the day following the day the Performance Lock was exercised until the next Contract Anniversary. Exercising Performance Lock will terminate your ability to receive an Index-Linked Option Credit or the protection of the Buffer which mitigates any loss. Pacific Life reserves the right to discontinue, suspend, or otherwise limit the availability of the Performance Lock feature, [AutoLock], and/or the Pre-Anniversary Transfer option at any time.

Performance Lock Value—The ILO Value after a Performance Lock is exercised. The Performance Lock Value is the locked-in Interim Value plus accrued interest at the Performance Lock Rate, if applicable, adjusted for withdrawals, transfers and rider charges. The Performance Lock Value is the amount that is available for Pre-Anniversary Transfer.

Performance Lock Rate—The annual fixed rate of interest that the locked-in Interim Value under the Performance Lock feature will earn after Performance Lock is exercised (and where the Pre-Anniversary Transfer is not processed on the same Business Day). The Performance Lock Rate begins to accrue on the day following the day Performance Lock is exercised and continues until the next Contract Anniversary The minimum guaranteed Performance Lock Rate is 0.05%.

Performance Lock Target Percentage—The specified percentage increase of an ILO Vintage’s Interim Value over its Investment Base that must be met or exceeded for an [AutoLock] to automatically trigger a Performance Lock for that ILO Vintage. The percentage increase is calculated as (Interim Value/ Investment Base) – 1. The Performance Lock Target Percentage must be greater than 0% and less than the Cap Rate applicable to that ILO Vintage and applies only to the specific ILO Vintage for which it is elected.

Point to Point — The Index Return for any Index-Linked Option (except for the SecureCap Crediting Strategy ILOs) is determined by comparing the Index Price on the Index Term Start Date to the Index Price on the Index Term End Date. 

Pre-Anniversary Transfer — A feature of Performance Lock that allows you to reallocate the full Performance Lock Value into a new ILO Vintage, prior to a Contract Anniversary.

Protection Level — The Protection Level provides limited protection to your ILO Value against negative Index Returns. There are two types of Protection Levels: Buffer Rates and Dual Direction Buffer Rates. Each ILO will apply only one type of Protection Level.

Purchase Payment — An amount paid to us by or on behalf of a Contract Owner as consideration for the benefits provided under the Contract and invested into the Interest Crediting Options offered under the Contract.

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Qualified Contract — A Contract that qualifies under the Code as an individual retirement annuity or account (IRA), or form thereof, or a Contract purchased by a Qualified Plan, qualifying for special tax treatment under the Code Sections 401, 403, 408A and 457.

SecureCap – A type of Crediting Strategy. The SecureCap Rate is the maximum amount of positive Index Return that can be credited to the Annual Period Value at the end of each Annual Period. The SecureCap Rate declared on a Term Start Date will remain unchanged for the entire Term and apply at the end of each Annual Period during that Term. The SecureCap Ratelimits the potential positive Annual Period Credit that may be applied to the Annual Period Value at the end of an Annual Period. Any gains or losses reflected in your Annual Period Value are not locked in or credited to your Investment Base until the Term End Date when the ILO Credit is applied to your Investment Base. In some cases, we may declare a Cap Rate for an ILO as "uncapped" in which case the amount of positive Index Return than can be credited to your Annual Period Value at the end of an Annual Period is equal to the Index Return.

Service Center — Pacific Life Insurance Company

P.O. Box 2378

Omaha, Nebraska 68103-2378

(800) 722-4448

For more complete contact information, see ADDITIONAL INFORMATION — INQUIRIES AND SUBMITTING FORMS AND REQUESTS in this Prospectus.

Subsequent Purchase Payment(s) — Additional Purchase Payments submitted after the initial Purchase Payment. Subsequent Purchase Payments are permitted only for 60 calendar days after your Contract Issue Date and are only permitted as a result of transfers or exchanges from other financial products requested at the time your Contract application is submitted. No other Purchase Payments are permitted under the Contract.

Subsequent Term (“Renewal Term”) — A Term that starts on a Contract Anniversary or as the result of a Pre-Anniversary Transfer.

Term — For Point to Point ILOs, the period of time over which the change in Index performance is measured to determine the Index Return and the Index-Linked Option Credit(s). For SecureCap ILOs, the Index performance is measured over the course of each Annual Period. The Term begins on the Term Start Date and ends on the Term End Date.

Term End Date. The Contract Anniversary on the last day of the Term. On this date, the Index-Linked Option Credit, which may be positive, negative, or zero, is calculated and applied to your Investment Base.

Term Start Date — The Term Start Date is the date that a new Term begins. On this date, Contract Value (or your Purchase Payment) is allocated to the ILO Vintage and the starting Index Price is determined. The Term Start Date for your initial Purchase Payment is the Contract Issue Date. The Term Start Date for any Subsequent Purchase Payment is the Business Day the Subsequent Purchase Payment is received prior to market close (typically 4:00 pm Eastern Time). The Term Start Date for any ILO Value reallocated into a new ILO Vintage as a result of Pre-Anniversary Transfer is the Business Day the reallocation is processed prior to market close. All other future Term Start Dates will be on a Contract Anniversary, on which date you will transfer or reinvest Contract Value into a new Term. State Variations may apply. See APPENDIX D: STATE VARIATIONS.

Tiered Participation Rate with Cap Rate — A type of Crediting Strategy. The Tiered Participation Rates are a percentage of positive Index Return that will be used to determine the Index- Linked Option Credit. Tiered Participation Rates include a Tier One Participation Rate and a Tier Two Participation Rate. Positive Index Return less than or equal to the Tier Level is multiplied by the Tier One Participation Rate. Positive Index Return in excess of the Tier Level is multiplied by the Tier Two Participation Rate. The Adjusted Index Return is equal to the sum of these two values subject to the Cap Rate. The Cap Rate is the maximum amount of positive Index Return that can be credited to the Investment Base at the end of a Term. The Tiered Participation Rates and Cap Rate may limit the potential positive Index-Linked Option Credit that may be applied at the end of a Term. In some cases, we may declare a Cap Rate for an ILO as "uncapped" in which case the amount of positive Index Return than can be credited to your ILO Value at the end of a Term is equal to the Index Return, subject to the Tiered Participation Rates.

Total Adjusted Purchase Payments — The Total Adjusted Purchase Payments is equal to the sum of all Purchase Payments made into the Contract, reduced by a Pro Rata Reduction for each prior withdrawal. The Pro Rata Reduction is the reduction percentage that is calculated at the time of a withdrawal by dividing the amount of the withdrawal by the Contract Value immediately prior to the withdrawal.

You and Your — The Owner(s) of this Contract.

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OVERVIEW OF THE CONTRACT

The Contract is a limited premium registered index-linked deferred annuity contract issued by us that is designed to help you accumulate funds for retirement or other long-term financial planning purposes on a tax-deferred basis. The Contract also includes a death benefit to help financially protect your Beneficiaries. This Contract may be appropriate for you if you have a long-term investment horizon and are looking to supplement your retirement income or you want to meet other long-term financial objectives. The Contract is not designed to be a short-term investment and may be inappropriate for you if you intend to take frequent withdrawals prior to annuitization (or prior to the Income Commencement Date if you have elected the GLWB Rider), withdrawals during the 6-year surrender charge period, or withdrawals from the ILO Vintages before the end of their Terms.

It is possible to lose up to 100% of your principal and previously credited Contract earnings. You should discuss with your financial professional whether an index-linked annuity contract, the optional living and death benefits, and which Interest Crediting Options are appropriate for you, taking into consideration your age, income, net worth, tax status, insurance needs, financial objectives, investment goals, liquidity needs, investment time horizon, risk tolerance and other relevant information. Together, you can decide if the Pacific Protective Growth [2.0] contract is right for you.

We offer a variety of annuity contracts. Not every contract we issue is available through every selling broker-dealer. Upon request, your financial professional can provide information regarding our other annuity contracts that his or her broker-dealer makes available. You can also contact us to find out more about the availability of any of our annuity contracts.

Please note that the Contract permits ongoing withdrawals and deductions from the ILO Vintages prior to their Term End Dates, such as rider charges, systematic withdrawals, and/or required minimum distributions. These withdrawals and deductions may have an adverse effect on the values and benefits under your Contract. If you intend to make such ongoing withdrawals or elect such deductions, you should consult with a financial professional about whether this Contract is appropriate for you.

PHASES OF THE CONTRACT

This Contract has two phases: the accumulation (savings) phase and the annuitization (income) phase.

Accumulation Phase

The accumulation phase begins on your Contract Issue Date and continues until your Annuity Date. During this phase, you invest in the Contract’s Interest Crediting Options, which include the ILOs and the Fixed Account Option, each of which has its own risks. Any earnings accumulate on a tax-deferred basis. Additional information about each of the Interest Crediting Options available under the Contract is provided in an appendix to this Prospectus. See APPENDIX A — INTEREST CREDITING OPTIONS AVAILABLE UNDER THE CONTRACT.

Index-Linked Options. The ILOs are a type of Interest Crediting Option available under the Contract to which Purchase Payments and transfers may be allocated. We will credit interest (which may be positive, negative, or zero) at the end of each Term to amounts allocated to an ILO Vintage (the “ILO Value”) based, in part, on the performance of a particular Index (or Indexes). Each ILO varies by Index, Crediting Strategy, Protection Level, and Term length. Crediting Strategies and Protection Levels only apply at the end of each Term (or at the end of each Annual Period). You could lose a significant amount of money if the Index of an ILO in which you are invested declines in value.

· Protection Levels. We limit the negative Index Return used in calculating the interest credited to an ILO Vintage at the end of each Term (or to the Annual Period Value at the end of each Annual Period) through the applicable Protection Level of each ILO. There are two types of Protection Levels that we use to limit negative Index Returns: Buffer Rates and Dual Direction Buffer Rates. Each ILO will have only one type of Protection Level. The Protection Level type and rate for each ILO is guaranteed not to change for as long as we offer the ILO.  

The 1-year S&P 500^® with Cap Rate with Participation Rate and 10% Buffer ILO (in addition to the Fixed Account) will always be available under your Contract. In the future, this means that we may not offer ILOs with any other Protection Level other than a 10% Buffer and any other Crediting Strategy other than a Cap Rate with Participation Rate. We do not guarantee a minimum Dual Direction Buffer Rate, and we do not guarantee that we will always offer ILOs with a Dual Direction Buffer. If we stop offering all but one ILO (the 1-year S&P 500^® with Cap Rate with Participation Rate and 10% Buffer ILO), you will be limited to investing in only one ILO and the Fixed Account Option. The terms and features of that ILO may not meet your investment objectives or be suitable for your financial goals, and this Contract may not be appropriate for you if you intend to invest solely in ILOs with a Dual Direction Buffer. 

In the future, any ILOs we offer (in addition to the 1-year S&P 500^® with Cap Rate with Participation Rate and 10% Buffer ILO) will always have some level of downside protection, but we do not guarantee a minimum level. If, in the future, you are not satisfied with the available ILOs, you may choose to surrender your Contract, but you may be subject to surrender charges, taxes, and tax penalties, and a negative Adjustment.

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1. Buffer Rate. The Buffer protects against negative Index Return up to the stated Buffer percentage. Any negative Index Return in excess of the Buffer Rate will result in negative interest being credited to your ILO Value at the end of a Term or to your Annual Period Value at the end of an Annual Period. For example, if the Buffer Rate of the ILO is 10%, and the Index Return is -15%, we will credit your ILO Value with -5% (the amount of the negative Index Return that exceeds the Buffer Rate) at the end of the Term, meaning your ILO Value will decrease by 5%. Using the same example but with a Buffer Rate of 100%, we will credit your ILO Value with 0% because the negative Index Return does not exceed the Buffer Rate.  

For the Annual Period Crediting Strategy, if the Buffer Rate is 10% and the Index Return is -15% at the end of an Annual Period, we will credit your Annual Period Value with -5% (the amount of the negative Index Return that exceeds the Buffer Rate) at the end of the Annual Period. 

2. Dual Direction Buffer Rate. The Dual Direction Buffer protects against negative Index Return up to the stated Dual Direction Buffer percentage. The Dual Direction Buffer is only offered with the Cap Rate with Dual Direction Buffer Crediting Strategy. Any negative Index Return up to and including the Dual Direction Buffer Rate will result in positive interest equal to the absolute value of the Index Return being credited to your ILO Value at the end of the Term. The absolute value of a number is simply the value of a number without regard to it being positive or negative. For example, the absolute value of -10 is 10. Positive interest credited by the Dual Direction Buffer may exceed the Cap Rate. Any negative Index Return in excess of the Dual Direction Buffer Rate will result in negative interest being credited to your ILO Value at the end of a Term in the amount that the negative Index Return exceeds the Dual Direction Buffer Rate. 

For example, if the Dual Direction Buffer Rate of the ILO is 15%, and the Index Return is -15%, we will credit your ILO Value with 15% (the absolute value of the negative Index Return up to the Dual Direction Buffer Rate) at the end of the Term, meaning your ILO Value will increase by 15%. However, if the Dual Direction Buffer Rate of the ILO is 15%, and the Index Return is -20%, we will credit your ILO Value with -5% (the amount of the negative Index Return that exceeds the Dual Direction Buffer Rate) at the end of the Term, meaning your ILO Value will decrease by 5%. 

· We limit the positive Index Return used in calculating the interest credited to an ILO Vintage at the end of each Term or to the Annual Period Value at the end of each Annual Period through the applicable Crediting Strategy of each ILO. The Contract offers ILOs, as applicable, with the following Crediting Strategies: Cap Rate with Participation Rate, SecureCap, Performance Mix, Cap Rate with Dual Direction Buffer, or Tiered Participation Rate with Cap Rate. Each ILO will have only one type of Crediting Strategy. 

The Crediting Strategy rate declared on the Term Start Date is guaranteed for the duration of the Term in which you are invested (including for each Annual Period during a SecureCap Term). We will declare new rates for Subsequent Terms, which may differ from current rates, subject to the Minimum Limits on Index Gain for each Crediting Strategy type. 

o Cap Rate with Participation Rate Strategy. The Cap Rate with Participation Rate Crediting Strategy includes both a declared Cap Rate with Participation Rate. The Participation Rate is the percentage of the positive Index Return that will be applied to the Index Return to determine the Index-Linked Option Credit, subject to the Cap Rate, which is the maximum amount of positive Index Return that can be credited to your ILO Value at the end of a Term. You will not benefit from any positive Index Return in excess of the Cap Rate. For example, if the Cap Rate of the ILO is 15%, the Participation Rate is 100%, and the Index Return is 20%, we will credit your ILO Value with 15% (the lesser of (i) the positive Index Return multiplied by the Participation Rate or (ii) the Cap Rate) at the end of the Term, meaning that your ILO Value will increase by 15%.  For any Cap Rate strategy ILO, the guaranteed minimum Cap Rate for the life of this Contract is 2% for a 1-year ILO, 4% for a 2-year ILO, 6% for a 3-year ILO, and 12% for a 6-year ILO. The guaranteed minimum Participation Rate for the life of this Contract is 100%.

o  Cap Rate with Dual Direction Buffer Strategy. The Cap Rate is the maximum amount of positive Index Return that can be credited to your ILO Value at the end of a Term. You will not benefit from any positive Index Return in excess of the Cap Rate. For example, if the Cap Rate of the ILO is 15% and the Index Return is 20%, we will credit your ILO Value with 15% (the positive Index Return up to the Cap Rate) at the end of the Term, meaning that your ILO Value will increase by 15%. For any Cap Rate strategy ILO, the guaranteed minimum Cap Rate for the life of this Contract is 2% for a 1-year ILO, 4% for a 2-year ILO, 6% for a 3-year ILO, and 12% for a 6-year ILO.

o SecureCap Strategy.  The SecureCap Rate is applied annually at the end of each Annual Period. Similar to a Cap Rate, the SecureCap Rate is the maximum amount of positive Index Return that can be credited to the Annual Period Value at the end of each Annual Period. However, any gains (or losses) reflected in your Annual Period Value are not locked in or credited to your Investment Base until the Term End Date when the ILO Credit is applied to your Investment Base. The SecureCap Rate declared on the Term Start Date will apply at the end of each Annual Period during that Term. You will not benefit from any positive Index Return at the end of an Annual Period in excess of the SecureCap Rate. For example, if the SecureCap Rate of the ILO is 15%, and the Index Return is 20%, we will credit your Annual Period Value with 15% (the positive Index Return up to the Cap Rate) at the end of the Annual Period, meaning that your Annual Period Value will increase by 15%. For any SecureCap strategy ILO, the guaranteed minimum SecureCap Rate for the life of this Contract is 2%. 

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o Performance Mix with Participation Rate and Cap Rate Crediting Strategy (Performance Mix). The Performance Mix strategy measures the performance of a combination of three Indexes: The S&P 500^®, the iShares^® Russell 2000 ETF, and the MSCI EAFE. The Index Return of the Performance Mix is determined based on the combined weighted average of those stated Indexes: 50% is based on the Index with the highest return, 30% is based on the Index with the next best return, and 20% is based on the Index with the lowest return. The Participation Rate is the percentage  of the positive Index Return that will be applied to the Index Return to determine the Index-Linked Option Credit subject to the Cap Rate, which is the maximum amount of positive Index Return that can be credited to your ILO Value at the end of a Term.  

For the Performance Mix Crediting Strategy, the Minimum Limits on Index Gain for the life of this Contract are 50% for the Index with the highest return, 30% for the Index with the next best return, and 20% for the Index with the lowest return. 

The Participation Rate is multiplied by the combined Index Return, subject to the Cap Rate, to yield the interest credited to your ILO Value. Both the Cap Rate and the Participation Rate limit the potential positive Index-Linked Option Credit that may be applied at the end of a Term. For example, if the Participation Rate of the ILO is 100% and the Cap Rate is 80%, and the combined Index Return of the three Indexes is 20%, we will credit your ILO Value with 20% (1.00 x 20, or 100% of the Index Return) at the end of the Term, meaning that your ILO Value will increase by 20%. If the combined Index Return of the three Indexes is 85%, we will credit your ILO with 80% at the end of the Term.   

For another example, assume that the Buffer Rate is 10%, the Participation Rate is 100%, and the Cap Rate is 80%. If, at the end of the Term, the highest performing Index Return is -5%, the second-highest Index Return is -15%, and the third-highest performing Index Return is -40%, we will credit your ILO Value with -5% at the end of the Term. ((-5% Index Return x 50%) + (-15% Index Return x 30%) + (-40% Index Return x 20%)) = -15% which is reduced by the 10% Buffer. This means that your ILO Value will be reduced by -5%.  

For any Performance Mix strategy ILO, the guaranteed minimum Participation Rate for the life of this Contract is 100% and the guaranteed minimum Cap Rate for the life of this Contract is 12%.  

· Tiered Participation Rate with Cap Rate Crediting Strategy. The Tiered Participation Rate is a percentage  of positive Index Return that will be used in calculating the interest credited to your ILO Value at the end of a Term. The Tiered Participation Rate Crediting Strategy has four components: the Tier One Participation Rate, the Tier Two Participation Rate, the Tier Level and the Cap Rate. Positive Index Return less than or equal to the Tier Level is multiplied by the Tier One Participation Rate. The amount of positive Index Return in excess of the Tier Level is multiplied by the Tier Two Participation Rate. The positive interest credited to your ILO Value is equal to the sum of these two values, subject to the Cap Rate. The Cap Rate is the maximum amount of positive Index Return that can be credited to the Investment Base at the end of a Term. The Participation Rates and the Cap Rate limit the potential positive Index-Linked Option Credit that may be applied at the end of a Term.  

For example, assume that the Index Return is 48%, and the Tiered Participation Rate for the ILO includes the following values: Tier 1 Participation Rate — 100%; Tier 2 Participation Rate — 125%; Tier Level — 25% and the Cap Rate is 50%. The percentage portion of positive Index Return is 53.75%. which is the sum of 25% (the Tier One Participation Rate 100% multiplied by the Index Return up to the Tier Level 25%), plus 28.75% (the Tier Two Participation Rate 125% multiplied by the amount of Index Return in excess of the Tier Level 23%). Since the Index Return is greater than or equal to the Cap Rate, we will credit your ILO Value with 50%. 

For any Tiered Participation Rate with Cap Rate strategy ILO, the guaranteed minimum Participation Rate for the life of this Contract is 100% and the guaranteed minimum Cap Rate for the life of this Contract is 12%. 

Fixed Account Option. The Fixed Account is a type of Interest Crediting Option available under the Contract to which Purchase Payments and transfers may be allocated. The Fixed Account credits a fixed rate of interest daily at the Guaranteed Rate to the amount invested in the Fixed Account (the “Fixed Account Option Value”). The Guaranteed Rate for the Fixed Account will be declared on each Contract Anniversary, and will never be less than the Minimum Guaranteed Rate for the Fixed Account, which is 0.50%. Surrenders, death benefit payments, and annuitization from the Fixed Account Option are subject to the Fixed Account Option Guaranteed Minimum Surrender Value. The Fixed Account Option will always be available for the life of your Contract. 

Annuitization Phase

The annuitization (income) phase occurs when you annuitize your Contract. If you annuitize your Contract, you will turn your Contract Value into a stream of income payments over a fixed period or for life. Annuity payments will be in a fixed-dollar amount. If you annuitize, you will be unable to make withdrawals and death benefits will terminate. You are not required to annuitize until the maximum Annuity Date, which is the Annuitant’s (youngest Annuitant if there are Joint Annuitants) 110th birthday. Some states’ laws may require a different Annuity Date. See APPENDIX D: STATE VARIATIONS. Before annuitizing or selecting a payment option, you should consult with a financial professional and/or contact us at our Service Center to obtain information on what the annuity payment would be prior to

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annuitizing.

CONTRACT FEATURES

Accessing Your Money. Before you annuitize, you can withdraw money from your Contract at any time. Withdrawing only a portion of your Contract Value is referred to as a “withdrawal.” Withdrawing your entire Contract Value is referred to as a “surrender” and will terminate your Contract. Withdrawals or surrenders taken during the surrender charge period, which is the first 6 Contract Years, may be subject to a surrender charge. Withdrawals and surrenders may also be subject to taxes, and tax penalties. Withdrawals and surrenders from the ILO Vintages before the end of a Term will result in an Interim Value Calculation and Adjustment being applied to your ILO Value.

Preauthorized Withdrawals. If your Contract Value is at least $5,000, for no additional cost, you may elect to automatically withdraw money from your Contract on a regular basis at any time before your Annuity Date. You may choose monthly, quarterly, semi-annual or annual withdrawals. Preauthorized withdrawals may be subject to surrender charges, an Interim Value Calculation and Adjustment, taxes, and tax penalties.

Free Withdrawal Amount. Each Contract Year, you may withdraw a portion of your Contract Value without incurring a surrender charge. The annual free withdrawal amount will still trigger an Interim Value Calculation and Adjustment if taken from the ILO Vintages before the end of a Term, and be subject to taxes and tax penalties.

Nursing Home and Terminal Illness Waivers. These waivers are included in the Contract for no additional charge. Under these waivers, surrender charges will be waived for all withdrawals and surrenders of the Contract if the Annuitant or Owner is diagnosed with a terminal illness, as defined by the Waiver, or is confined to an accredited nursing home, and certain other conditions are met. Withdrawals and surrenders under these waivers may still trigger an Interim Value Calculation and Adjustment, taxes, and tax penalties.

Death Benefits. The Contract provides a death benefit payout, at no additional cost, to help protect your Beneficiaries during the accumulation phase. Depending on your age at the Contract Issue Date, the standard Death Benefit Amount is either (a) the greater of the Contract Value or the Total Adjustment Purchase Payments, reduced by any taxes, or (b) the Contract Value, reduced by any taxes. For an additional cost, Contract Owners between the ages of 81 and 85 on the Contract Issue Date may purchase the optional death benefit rider, the Return of Purchase Payments Death Benefit Rider (the “ROP Death Benefit Rider,” or the “Rider”), which can increase the amount of money payable to your Beneficiaries.

Tax Treatment. Your Purchase Payments accumulate value on a tax-deferred basis. Your earnings generally are not taxed until money is withdrawn from the Contract, such as when you make a withdrawal from or surrender your Contract, or receive an annuity payment from the Contract, or a death benefit is paid.

Performance Lock. For no additional cost, the Contract includes a “Performance Lock” feature for all ILOs which enables you to “lock-in” the Interim Value of all or a portion of an ILO Vintage before the end of a Term. The Performance Lock feature can be processed manually or automatically by providing instructions in advance to exercise based on predetermined targets you set through the [AutoLock] feature. If the Performance Lock feature is exercised and you do not elect Pre-Anniversary Transfer, the value of your investment in an ILO Vintage will equal the Interim Value on the date the Performance Lock is exercised and will be credited with the Performance Lock Rate until you elect Pre-Anniversary Transfer or the next Contract Anniversary. We reserve the right to discontinue, suspend, or otherwise limit the availability of the Performance Lock feature, [AutoLock], and/or the Pre-Anniversary Transfer option at any time.

Pre-Anniversary Transfer. Pre-Anniversary Transfer is an option that allows you to reallocate the full Performance Lock Value following a Performance Lock into, a new ILO Vintage prior to a Contract Anniversary.

CONTRACT ADJUSTMENTS

Interim Value Calculation and Adjustment

On any Business Day during the Term after the Term Start Date and before Term End Date, your ILO Value is equal to the Interim Value. Each ILO Vintage will have a separate Interim Value. The Interim Value is the amount in the ILO Vintages that is available for surrenders (including Free Look surrenders), withdrawals (including Required Minimum Distributions (“RMDs”), free withdrawal amounts, pre-authorized withdrawals, and rider charges), annuitization, and death benefit payments that occur between the beginning of the Term (the “Term Start Date”) and the end of the Term (the “Term End Date”). The Interim Value is also the amount available for exercise of the Performance Lock feature. All of

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these transactions, if taken during the Term, will be based on Interim Value(s) and will trigger an Interim Value Calculation to your ILO Value and a proportional reduction to your principal investment in the ILO Vintage (the “Investment Base”), Annual Period Value, and death benefit (the “Interim Value Adjustment”).

The Interim Value Calculation and Adjustment could result in significant losses if amounts are removed from the ILO Vintages before the end of a Term. You will not receive an Index-Linked Option Credit or the protection of the Buffer or Dual Direction Buffer to mitigate any loss. See FEES, CHARGES, AND ADJUSTMENTS and ACCESS TO YOUR MONEY in the Statutory Prospectus for more information about the Interim Value Calculation and Adjustment. If you intend to take ongoing withdrawals, elect features with ongoing deductions, or exercise Performance Lock for all or a portion of an ILO Vintage, you should consult with a financial professional to discuss any adverse impact of such ongoing withdrawals and deductions and whether this Contract is appropriate for you.

KEY INFORMATION

Important information you should consider about the Pacific Protective Growth [2.0] Contract

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BENEFITS AVAILABLE UNDER THE CONTRACT

The following tables summarize information about the benefits available under the Contract.

Certain Contract features and benefits described in this Prospectus may vary or may not be available depending on the broker-dealer through which your Contract is sold. See APPENDIX E: FINANCIAL INTERMEDIARY VARIATIONS in the Statutory Prospectus for more information.

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BUYING THE CONTRACT

PURCHASING THE CONTRACT

To purchase a Contract, you must work with your financial professional to complete an application and submit it along with your initial Purchase Payment to Pacific Life Insurance Company at P.O. Box 2290, Omaha, Nebraska 68103-2290. Your initial Purchase Payment and any subsequent Purchase Payments, in aggregate, must be greater than or equal to $25,000. In those instances when we receive electronic transmission of the information on the application from your financial professional’s distribution firm and our administrative procedures with your distribution firm so provide, we consider the application to be received on the Business Day we receive the transmission. If your application and Purchase Payment are complete when received, or once they have become complete, we will issue your Contract within 2 Business Days. The date that we issue your Contract is your Contract Issue Date. If some information is missing from your application, we may delay issuing your Contract while we obtain the missing information. However, we will not hold your initial Purchase Payment for more than 5 Business Days without your permission. In any case, we will not hold your initial Purchase Payment after 20 Business Days.

You may also purchase a Contract by exchanging your existing annuity. All contract exchange and transfer requests must be submitted with the Contract application, and no subsequent exchange or transfer requests may be initiated. Some financial professionals may have a financial incentive to offer you this Contract in place of the one you already own. You should only exchange your existing contract for this Contract if you determine, after comparing the features, fees, and risks of both contracts, and any fees or penalties to terminate the existing contract, that it is preferable for you to purchase this Contract rather than continue your existing contract. Call your financial professional or call us at (800) 722-4448 if you are interested in this option. Financial professionals may call us at (833) 953-1863.

We reserve the right to reject any application or Purchase Payment for any reason, subject to any applicable nondiscrimination laws and to our own standards and guidelines. On your application, you must provide us with a valid U.S. tax identification number for federal, state, and local tax reporting purposes.

The maximum age of a Contract Owner/Annuitant, including Joint Owners, Joint Annuitants, and Contingent Annuitants, for which a Contract will be issued is 85. The Contract Owner’s age is calculated as of his or her last birthday. If any Contract Owner (or any Annuitant in the case of a Non-Natural Owner) named in the application for a Contract dies and we are notified of

the death before we issue the Contract, then we will return the amount we received. If we issue the Contract and are subsequently notified after Contract issuance that the death occurred prior to issue, then the application for the Contract and/or any Contract

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issued will be deemed cancelled and a refund will be issued. The refund amount will be the Contract Value based on the Fixed Account Option Value and the ILO Value (which may include Interim Value(s)) next determined after we receive proof of death,

In Proper Form, of the Contract Owner (or Annuitant in the case of a Non-Natural Owner), plus a refund of any amount used to pay premium taxes and/or any other taxes. Any refunded assets may be subject to probate.

We offer a variety of annuity contracts. Not every contract we issue is available through every selling broker-dealer. Upon request, your financial professional can provide information regarding our other annuity contracts that his or her broker-dealer makes available. You can also contact us to find out more about the availability of any of our annuity contracts.

Making Your Initial Purchase Payment

We reserve the right to reject additional Purchase Payments. Your initial Purchase Payment and any subsequent Purchase Payments, in aggregate, must be at least $25,000 for both Non-Qualified and Qualified Contracts. Your Contract requires that you must obtain our consent before making an initial or additional Purchase Payment that will bring your aggregate Purchase Payments over $2,000,000. The aggregate amount is based on all contracts where you are either the owner and/or annuitant.

When Your Purchase Payment is Effective

Your initial Purchase Payment is effective on your Contract Issue Date, which will be no later than 2 Business Days after we receive your initial Purchase Payment and Contract application In Proper Form. Any Subsequent Purchase Payment is effective on the Business Day we receive it In Proper Form. See ADDITIONAL INFORMATION — INQUIRIES AND SUBMITING FORMS AND REQUESTS in the Statutory Prospectus. On the Contract Issue Date, we will allocate your initial Purchase Payment, minus any applicable taxes, to the Interest Crediting Options you selected according to the initial allocation instructions submitted with your application In Proper Form. Allocation instructions must be in whole percentages only. If we do not receive instructions allocating your initial Purchase Payment, your application is not In Proper Form and we will not issue your Contract.

METHODS OF PAYMENT

All Purchase Payments may be sent by personal or bank check or by wire transfer. Purchase Payments must be made in a form acceptable to us before we can process it. Acceptable forms of Purchase Payments are:

• personal checks or cashier’s checks drawn on a U.S. bank,

• money orders and traveler’s checks in single denominations of more than $10,000 if they originate in a U.S. bank,

• third party payments when there is a clear connection of the third party to the underlying transaction, and

• wire transfers that originate in U.S. banks.

We will not accept Purchase Payments in the following forms:

• cash,

• credit cards or checks drawn against a credit card account,

• money orders or traveler’s checks in single denominations of $10,000 or less,

• starter checks,

• home equity checks,

• eChecks,

• cashier’s checks, money orders, traveler’s checks or personal checks drawn on non-U.S. banks, even if the payment may be

• effected through a U.S. bank,

• third party payments if there is not a clear connection of the third party to the underlying transaction, and

• wire transfers that originate from foreign bank accounts.

All unacceptable forms of Purchase Payments will be returned to the payor along with a letter of explanation. We reserve the right to reject or accept any form of payment. Any unacceptable Purchase Payment inadvertently invested may be returned and the amount returned may be more or less than the amount submitted. If a Purchase Payment is made by check other than a cashier’s check, we may hold the check and the payment of any withdrawal proceeds and any refund during the “Right to Cancel”

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period may be delayed until we receive confirmation in our Service Center that your check has cleared. In general, a delay of the payment of withdrawal proceeds or any refund during the check hold period will not exceed 10 Business Days after we receive your withdrawal or “Right to Cancel” request In Proper Form. We will calculate the value of your proceeds as of the end of

the Business Day we received your withdrawal or “Right to Cancel” request In Proper Form. See BUYING THE CONTRACT — RIGHT TO CANCEL (“FREE LOOK”) in the Statutory Prospectus.

SUBSEQUENT PURCHASE PAYMENTS

Subsequent Purchase Payments are permitted only for 60 calendar days after your Contract Issue Date and are only permitted as a result of transfers or exchanges from other financial products requested at the time your Contract application is submitted. No other Purchase Payments are permitted. Your Contract requires that you must obtain our consent before making an initial or additional Purchase Payment that will bring your aggregate Purchase Payments over $1,000,000. The aggregate amount is based on all contracts where you are either the owner and/or annuitant. Each Subsequent Purchase Payment must be at least $1,000. Subsequent Purchase Payments will be allocated according to the same allocation instructions as the initial Purchase Payment, and will receive the same interest rates and ILO crediting rates that were applied to the initial Purchase Payment on the Contract Issue Date.

Initial Term. For the initial Term, each Subsequent Purchase Payment will receive the Index Price as of the date the payment is received. Each Subsequent Purchase Payment allocated into the same ILO will constitute a different ILO Vintage in the initial ILO Term, each with its own ILO Term Start Date, and the investment performance of each ILO Vintage will be tracked separately. Each ILO Vintage in the same ILO Term has its own associated Interim Value, Annual Period Value (if applicable), and Investment Base during the initial Term.

The ending Index Price for all ILO Vintages will be the Index Price determined on the Contract Anniversary that falls on the initial Term End Date or end date of an Annual Period. Each ILO Vintage will also receive a separate ILO Credit applied to each respective Investment Base at the end of the initial Term. Each SecureCap ILO Vintage will receive a separate Annual Period Credit applied to each respective Annual Period Value at the end of each Annual Period. The ILO Credit is applied before the deduction of charges for any optional riders. This means that any positive ILO Credit will be reduced by those charges, and any negative ILO Credit will be increased by those charges.

Example: Subsequent Purchase Payments (Assuming No Withdrawals) Initial payment (received 12/1/2026) = $100,000

Index Linked Option = 100% allocated to the S&P 500^® Cap Rate with 10% Buffer Starting Index Price (as of 12/1/2026) = 4,400

ILO Vintage 1 Investment Base = $100,000

Subsequent Payment (received 12/20/2026) = $25,000

Index Linked Option = 100% allocated to the S&P 500^® Cap Rate with 10% Buffer Starting Index Price (as of 12/20/2026) = 4,315

ILO Vintage 2 Investment Base = $25,000

For Subsequent Terms, all Contract Value allocated to same ILO will be combined into one ILO Vintage and will receive the same starting Index Price determined on the Contract Anniversary that falls on the Term Start Date.

See INVESTING IN THE CONTRACT — INDEX-LINKED OPTION CREDIT FORMULA in the Statutory Prospectus for more information on how the Index Price is used to determine the Index Return and the ILO Credit.

MAKING WITHDRAWALS: ACCESSING THE MONEY IN YOUR CONTRACT

WITHDRAWALS AND SURRENDERS

Optional Withdrawals and Surrenders

You may, on or prior to your Annuity Date, withdraw a portion of the amount available under your Contract while the Owner (or Annuitant in the case of a Non-Natural Owner) is living and your Contract is in force. You may also make a full withdrawal of your entire Contract Value at any time, which is referred to as a “surrender,” and which will terminate your Contract.

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Withdrawals are not permitted after the Annuity Date. Withdrawals are generally not permitted until 30 calendar days after your Contract Issue Date; however, we are currently not enforcing this limitation.

You may request to withdraw a specific dollar amount or a specific percentage of your Contract Value. You may choose to make your withdrawal from specified Interest Crediting Options, or your entire Contract Value. If you do not specify the Interest Crediting Options, your withdrawal will typically be taken from all of your Interest Crediting Options proportionately on the date of the withdrawal. If Subsequent Purchase Payments are allocated to the ILOs in the first Contract Year, withdrawals will be taken on a First-In, First-Out (“FIFO”) basis during the initial ILO Term for purposes of interest calculations. For all Subsequent Terms, withdrawals will be taken from all of the Interest Crediting Options proportionately.

Each withdrawal must be at least $500. Pre-authorized withdrawals must be at least $500, except for pre-authorized withdrawals distributed by Electronic Funds Transfer (EFT), which must be at least $100. Upon taking a withdrawal, we will send you the amount of the net withdrawal, which is equal to the amount of the gross withdrawal requested, adjusted for any applicable surrender charge, taxes, and/or tax penalties. Upon making a surrender, we will send you your entire Cash Surrender Value. See FEES, CHARGES, AND ADJUSTMENTS in the Statutory Prospectus.

Amounts transferred or withdrawn from the Fixed Account Option may be delayed under extraordinary circumstances. See ADDITIONAL INFORMATION — TIMING OF PAYMENTS AND TRANSACTIONS in the Statutory Prospectus.

Distributions made due to divorce instructions or under Code Section 72(t)/72(q) (substantially equal periodic payments) are treated as withdrawals for Contract purposes and may result in a surrender charge assessment.

Amount Available for Withdrawal

The amount available for surrender or withdrawal is your Cash Surrender Value, which is your Contract Value at the end of the Business Day on which your withdrawal or surrender request is effective, adjusted for any applicable rider charges, surrender charges, taxes, and/or tax penalties. The amount we send to you will be adjusted for any required or requested federal and state income tax withholding. Any amounts surrendered (including Free Look surrenders) or withdrawn (including RMDs, deductions for rider charges, withdrawals free of a surrender charge, and pre-authorized withdrawals) from an ILO Vintage during a Term will trigger an Interim Value Calculation and Adjustment. You may contact us at our Service Center to obtain your Interim Value(s) for any ILO Vintage in which you are invested prior to initiating a transaction, although your Interim Value(s) may change by the time a transaction is executed.

You assume investment risk on Purchase Payments in the ILOs. As a result, the amount available to you for withdrawal from any ILO Vintage may be more or less than the total Purchase Payments you have allocated to that ILO, or your Investment Base in the ILO Vintage. See PRINCIPAL RISKS OF INVESTING IN THE CONTRACT in the Statutory Prospectus.

Effective Date of Withdrawal Requests

Withdrawals and surrenders will be effective as of the end of the Business Day on which we receive the request In Proper Form. If you surrender your Contract, it will be terminated as of the effective date of the withdrawal. Withdrawal and surrender requests we receive before the close of the New York Stock Exchange, which usually closes at 4:00 p.m. Eastern Time, will be effective at the end of the same Business Day that we receive them In Proper Form unless the transaction or event is scheduled to occur on another Business Day. Withdrawal and surrender requests received after the close of the New York Stock Exchange will be effective on the following Business Day. We will normally send the proceeds within 7 calendar days after your request is effective. See ADDITIONAL INFORMATION — TIMING OF PAYMENTS AND TRANSACTIONS in the Statutory Prospectus. If a Purchase Payment is made by check and you submit a withdrawal request immediately afterwards, we may hold the check and the payment of any withdrawal or surrender proceeds may be delayed until we receive confirmation in our Service Center that your check has cleared. In general, a delay of the payment of withdrawal or surrender proceeds during the check hold period will not exceed ten Business Days after we receive your withdrawal or surrender request In Proper Form. If we delay the payment of withdrawal or surrender proceeds during the check hold period, we will calculate the value of your withdrawal or surrender proceeds as of the end of the Business Day we received your withdrawal or surrender request In Proper Form.

Withdrawals Free of a Surrender Charge

Subject to the provisions described above, each Contract Year during the surrender charge period you may withdraw a portion of your Contract Value without incurring a surrender charge. This amount is referred to as the “free withdrawal amount.” While the Contract is in the surrender charge period, the free withdrawal amount in each Contract Year is equal to 10% of the aggregate Purchase Payments. Any eligible portion of the annual free withdrawal amount not withdrawn during a Contract Year may not be carried over to the next Contract Year. The annual free withdrawal amount may trigger an Interim Value Calculation and Adjustment, premium

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taxes and/or other taxes, including federal income tax on its taxable portion, and may be subject to a tax penalty of 10% if the investor has not reached age 59 1/2 .

Pre-Authorized Withdrawals

If your Contract Value is at least $5,000, you may select pre-authorized withdrawals any time before your Annuity Date. You may choose monthly, quarterly, semi-annual or annual withdrawals. Each withdrawal must be for at least $500, except for withdrawals distributed by Electronic Funds Transfer (EFT), which must be at least $100. Each pre-authorized withdrawal may also be subject to surrender charges, premium taxes and/or other taxes, federal income tax on its taxable portion,

and may be subject to a tax penalty of 10% if you have not reached age 591∕2. Pre-authorized withdrawals will trigger an Interim Value Calculation and Adjustment if withdrawn from the ILO Vintages before the end of a Term. Pre-authorized withdrawals cannot be used to continue the Contract beyond the Annuity Date. See FEDERAL TAX ISSUES and THE GENERAL ACCOUNT in the Statutory Prospectus. If you intend to take ongoing systematic withdrawals, you should consult with a financial professional to discuss any adverse impact of such ongoing withdrawals and whether this Contract is appropriate for you.

Tax Consequences of Withdrawals

All withdrawals, including pre-authorized withdrawals, will generally have federal income tax consequences, which could include federal income tax on the taxable portion, and a tax penalty of 10% if you have not reached age 591∕2. You should consult with a qualified tax advisor before making any withdrawal or selecting the pre- authorized withdrawal option. See FEDERAL TAX ISSUES — 10% Tax Penalty Applicable to Certain Withdrawals and Annuity Payments in the Statutory Prospectus.

EFFECT OF WITHDRAWALS AND SURRENDERS

All withdrawals will reduce your Contract Value and death benefit. The reduction may be significant, and may be more than the amount of the withdrawal. All withdrawals may also affect the availability of the ROP Death Benefit Rider, perhaps significantly, and/or could terminate the benefit if the Contract Value is reduced to zero.

Withdrawals and Surrenders from the Fixed Account

Withdrawals from the Fixed Account Option will reduce the Fixed Account Option Value by the amount requested on a dollar- for-dollar basis. Withdrawals and surrenders from the Fixed Account may be subject to surrender charges, taxes, and tax penalties. Any applicable surrender charge, taxes, and tax penalties will be deducted from the amount you receive from a withdrawal or surrender. Certain transactions are not subject to surrender charges. See FEES, CHARGES, AND ADJUSTMENTS in the Statutory Prospectus for more information.

Surrenders from the Fixed Account Option are subject to the Fixed Account Option Guaranteed Minimum Surrender Value, as required by state law. The Fixed Account Option Guaranteed Minimum Surrender Value is equal to all amounts allocated to the Fixed Account Option multiplied by 87.5%, adjusted for any withdrawals or transfers from the Fixed Account Option, then accumulated at the non-forfeiture rate, which ranges from 0.15% to 3.00% depending on the applicable state law. See APPENDIX E: STATE VARIATIONS in the Statutory Prospectus for more information. If necessary to meet this minimum, charges will be waived.

Withdrawals and Surrenders from the ILOs

Withdrawals (including RMDs, free withdrawal amounts, pre-authorized withdrawals, and rider charges) from an ILO Vintage on the Contract Anniversary corresponding with the Term End Date will reduce the Investment Base by the dollar amount requested after the ILO Credit is applied. If you surrender the Contract Value in the ILO Vintages on the Term End Date, you will receive the entire ILO Value. Any applicable surrender charge, taxes, and tax penalties will be deducted from the amount you receive from the withdrawal or surrender.

If you take a surrender (including Free Look surrenders) or withdrawal (including RMDs, free withdrawal amounts, pre- authorized withdrawals, and rider charges) from an ILO Vintage during a Term, the withdrawal will trigger an Interim Value Calculation to your ILO Value. The Interim Value calculated could be less than your investment in the ILO Vintage even if the Index is performing positively, and may be less than the amount you would receive had you held the investment until the end of the Term after the application of the Protection Level. This means that there could be significantly less money available under your Contract for a surrender or withdrawal during the Term. Withdrawals or surrenders that are based on ILO Interim Value(s) could result in the loss of your principal investment and previously credited Contract earnings, and in extreme circumstances such losses could be as high as 100%. The maximum loss would only occur in extreme circumstances upon a withdrawal or surrender of your ILO Value during the Term. A withdrawal will reduce your Interim Value by the amount requested and will reduce your Investment Base in the ILO Vintage, Annual Period Value (when applicable), and the death

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benefit by the same proportion that the Interim Value is reduced by the withdrawal (an Interim Value Adjustment). Any applicable surrender charge, taxes, and tax penalties will be deducted from the amount you receive from a withdrawal or surrender. The resulting reduction in your Investment Base, Annual Period Value, and death benefit may be more than the amount of the withdrawal and may be significant, and will reduce your Investment Base and Annual Period Value for the remainder of the Term. Amounts withdrawn or surrendered will not receive an ILO Credit.

A reduction in your Interim Value will cause your ILO Value for the remainder of the Term to be lower than if you did not take the withdrawal. Withdrawals based on Interim Value may significantly reduce the value of any gains credited at the end of the Term because the dollar amount of the ILO Credit is calculated based on the Investment Base, which will be reduced proportionately by the withdrawal. Withdrawals will also reduce the Annual Period Value proportionally and may significantly reduce the value of any ILO Credit on the Term End Date. Neither the Protection Level nor the Crediting Strategy will be applied to the Interim Value. The Interim Value Calculation and Adjustment could result in a loss, and this loss may be greater than the loss that would be incurred on the Term End Date after the application of the Protection Level. The Interim Value Calculation and Adjustment could also result in lower gain than would be credited on the Term End Date after the application of the Crediting Strategy. All withdrawals (including guaranteed withdrawal amounts) taken from the ILOs before the end of a Term under the GLWB Rider will be based on Interim Value(s), which could result in significant losses. All withdrawals based on Interim Values will also affect the availability of the ROP Death Benefit Rider, perhaps significantly, and/or could terminate the benefit if the Contract is reduced to zero.

Please note that the Contract permits ongoing withdrawals and deductions from the ILO Vintages prior to the Term End Dates, such as guaranteed withdrawal amounts under the GLWB Rider, rider charges, systematic withdrawals, and/or required minimum distributions. These withdrawals and deductions may have an adverse effect on the values and benefits under your Contract. If you intend to take ongoing withdrawals or elect optional features with ongoing deductions, you should consult with a financial professional to discuss any potential adverse impact of such ongoing withdrawals and deductions and whether this Contract is appropriate for you.

You may contact us at our Service Center to obtain your Interim Value(s) for any ILO Vintage in which you are invested prior to initiating a transaction, although your Interim Value(s) may change by the time the transaction is executed. To avoid an Interim Value Calculation and Adjustment to your ILO Value, you should schedule withdrawals and other transactions to fall on Term End Dates.