Pacific Life Bulletin - A Communication from the Life Division
Pacific Life Insurance Company
Date:
March 31, 2023
To:
Broker General Agencies, Life Insurance Producers, Management, Office Administrators, and Technical Staff
Subject:
PL Promise Term Repriced to Be More Competitive, Effective 4/3/2023
Category:
Product
We’re Repricing PL Promise Term
Now Top 3 in 91% of no-nicotine cells!
Effective April 3, 2023, Pacific Life Insurance Company is adjusting rates to be more competitive for PL Promise Term1 level premium term life insurance.
This reprice places PL Promise Term in the Top 3 for 91% of no-nicotine risk classes cells across all ages and face amounts.2
A 60-day transition period is provided.
Our commitment to providing affordable life insurance coverage for everyday consumers remains strong. View full bulletin for additional details and competitive strengths.
1 PL Promise Term level premium term life insurance (Policy Form #P16LYT or ICC16 P16LYT and S16LYT10, S16LYT15, S16LYT20, S16LYT25, or S16LYT30, based on level premium period chosen and state of policy issue).
2 As applicable, comparisons based on quinquennial ages from 20 through 80 for term periods 10, 15, 20, 25, 30; all 5 face bands from $50K+; all 6 risk classes (Preferred Best No Nicotine, Preferred No Nicotine, Select No Nicotine, Standard No Nicotine, Preferred Nicotine Use and Standard Nicotine Use); and both annual and monthly payment modes. Competitive Positioning of non-affiliated companies as of 3/16/2023 CompuLife: AIG Select-a-Term (ICC21-19311), American National Insurance Company (ANICO) Signature Term (ART18), Banner Life Insurance Company OPTerm (ICC18-OPTC), Equitable Brightlife Term (ICC14-156-LT), Fidelity Rapid Decision Life Term (F4200), John Hancock Protection Term (19TERM), Lincoln LifeElements Level Term (TRM 6063), Lincoln TermAccel Level Term (TRM 6069), MassMutual Haven Term (ICC21 HAVEN TERM), MassMutual Haven Simple (ICC20 HAVEN SIMPLE), Nationwide Guaranteed Level Term (ICC13-NWLA-490), North American ADDvantage Term (LS174), Principal Term 20 (ICC17 SN 104), Protective Classic Choice Term (TL-21), Prudential Term Essential (ICC19 PLTIC-2019), SBLI Term Life Insurance (B-56), Symetra SwiftTerm (ICC20_LC1), Symetra Term 4.0 (ICC16_LC1), Transamerica Trendsetter Super (TL22 0417), United of Omaha Term Life Answers (ICC16L145P). Pacific Life PL Promise Term rates are effective 4/3/2023.
For Financial Professional use only. Not for use with the public.
Pacific Life is a product provider. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products.
Pacific Life Insurance Company is licensed to issue insurance products in all states except New York. Product/material availability and features may vary by state.
Life insurance is subject to underwriting and approval of the application.
Pacific Life Insurance Company’s Home Office is located in Newport Beach, CA.
23-VER-61
BT-52658-00 03/23
This email was sent by Pacific Life - Broad Market from 700 Newport Center Drive, Newport Beach, CA 92660 United States.
