Pacific Life Bulletin - A Communication from the Life Division
Pacific Life Insurance Company
Date:
April 2, 2021
To:
Broker General Agencies, Life Insurance Producers, Management, Office Administrators, and Technical Staff
Subject:
Announcing IRC Sec 7702 System Readiness and Policyowner Notice
Category:
Administration
Announcing IRC Sec. 7702 System Readiness
and Policyowner Notice
The following communication announces our administrative and quoting systems have been updated to reflect the new limits for life insurance policies under IRC Section 7702, per the Consolidated Appropriations Act, 2021 (H.R. 133).
You may also view the related bulletin by navigating to the News and Communications section of http://producerbay.pacificlife.com/ or contacting your Pacific Life representative.
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For Financial Professional use only. Not for use with the public.
Pacific Life, its affiliates, their distributors and respective representatives do not provide tax, accounting or legal advice. Any taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor or attorney.
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. 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.
Pacific Life Insurance Company’s individual life insurance products are marketed exclusively through independent third-party life insurance producers, which may include bank affiliated entities. Some selling entities may limit availability of some optional riders and investment options based on their client’s age and other factors. Your broker-dealer or firm can help you determine which optional riders and investment options are available and appropriate for your clients.
Pacific Life Insurance Company’s Home Office is located in Newport Beach, CA.
BT-51025-00 4/21
This email was sent by Pacific Life - Broad Market from 700 Newport Center Drive, Newport Beach, CA 92660 United States.
