Life insurance is a long-term promise. Backed by the financial strength of Pacific Life, PL Promise products provide death benefit protection and more.
¹ PL Promise Term level premium term life insurance (Form series P16LYT and S16LYT10, S16LYT15, S16LYT20, S16LYT25, or S16LYT30, varies based on level premium period chosen and state of policy issue).
² PL Promise Conversion UL universal life insurance (Form series P17LYCUL, varies based on state of policy issue) with no-lapse guarantee available upon conversion from PL Promise Term life insurance. There are circumstances in which converting the client’s existing life insurance can benefit the client. As a life insurance producer, it is your responsibility to provide the client with detailed information as to how a conversion may affect the client’s plan of insurance. Clients should be advised to make a careful comparison of the costs and benefits of the existing policy and the proposed policy to determine whether conversion is the right decision for the client.
³ Referred to as the Accelerated Death Benefit Rider for Terminal Illness (Form series R16LYTIR, varies based on state of policy issue) in the contract. The cost of exercising the rider is that the death benefit is reduced by an amount greater than the rider benefit payment itself to reflect the early payment of the death benefit. Rider benefit payments will reduce the death benefit, cash surrender value, and any policy debt. Additionally, rider benefit payments may adversely affect the benefits under other riders. Benefits paid by accelerating the policy’s death benefit may or may not qualify for favorable tax treatment under Section 101(g) of the Internal Revenue Code of 1986. Tax treatment of an accelerated death benefit due to terminal illness depends on the life expectancy of the insured at the time benefits are accelerated. Receipt of accelerated death benefits may affect eligibility for public assistance programs such as Medicaid. Tax laws relating to accelerated death benefits are complex. Pacific Life cannot determine whether the benefits are taxable. Clients are advised to consult with qualified and independent legal and tax advisors for more information.
⁴ PL Promise GUL no-lapse guarantee universal life insurance (Form series P18PRUL, S18PRUL, varies based on state of policy issue).
⁵ The Lifetime No-Lapse Guarantee Rider (Form series R17LYFNL, varies based on state of policy issue) is included in the policy at no additional charge. The no-lapse guarantee, depending on how your client structures their policy, has a maximum duration of the insured’s lifetime, subject to certain limits. If your client’s net no-lapse guarantee value is zero, the no-lapse feature terminates. If the no-lapse feature terminates, additional premiums would be required to resume the no-lapse guarantee. If policy performance is such that your client’s policy is being maintained solely by the no-lapse guarantee, your client’s policy will not build cash value.
⁶ Referred to as the Enhanced Surrender Value Rider in the contract (Form R17LYESV). Minimum premium requirements apply for the rider to provide a benefit. Loans and withdrawals may reduce refund amounts.
For financial professional use only. Not for use with the public.
This email may be considered advertising under applicable law.
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.
Life insurance is subject to underwriting and approval of the application and will incur monthly policy charges.
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.
Insurance products and their guarantees, including optional benefits and any crediting rates, are backed by the financial strength and claims-paying ability of the issuing insurance company. Look to the strength of the life insurance company with regard to such guarantees as these guarantees are not backed by the broker/dealer, insurance agency, or their affiliates from which products are purchased. Neither these entities nor their representatives make any representation or assurance regarding the claims-paying ability of the life insurance company.
Riders will likely incur additional charges and are subject to availability, restrictions and limitations. Clients should be shown policy illustrations with and without riders to help show the rider's impact on the policy's values.
This material reflects the Pacific Life Insurance Company policy features and benefits. All policy features and benefits may not be available through some broker/dealers.
The home office for Pacific Life Insurance Company is located in Omaha, Nebraska.
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This email was sent by Pacific Life - Broad Market from 700 Newport Center Drive, Newport Beach, CA 92660 United States.
