Pacific Life Introduces New No-Lapse Assure Common Life Insurance coverage Product

Pacific Life at present introduced the addition of PL Promise GUL1, a brand new, no lapse assure common life insurance coverage (GUL) product to its PL Promise line. Designed to assist handle the life insurance coverage wants of the underinsured broad market, the brand new life insurance coverage coverage gives lifetime dying profit safety with predictable premiums, longer assured protection intervals, and dwelling profit options2 to assist meet evolving monetary wants.

The coverage options:

Accessible $25Ok minimal face quantity
Shopper safety so premiums paid one month early or late may have no hostile affect to supposed assure – avoids pointless catch-up premiums.three,four
Predictable and handy fluidless underwriting for as much as $1 million in protection for purchasers age 50–69
Enhanced money give up worth rider at no extra value.5

“Within the PL Promise product line, we now have developed less complicated merchandise with decrease minimal protection quantities and aggressive pricing to make them extra accessible to the broad market,” stated Brynn Thabet, assistant vice chairman of product administration within the Lynchburg life insurance coverage division of Pacific Life. “The PL Promise enlargement provides peace of thoughts for these trying to shield their households for longer than time period life insurance coverage may cowl. Plus, our constant and predictable fluidless underwriting has clear qualification standards, and no surprising knock-outs.”

Protection for the Broad Market

For the broad market (U.S. households with annual revenue of $50,000 to $250,000), Pacific Life provides competitively priced PL Promise life insurance coverage merchandise and the comfort of no extra medical exams or bodily fluids for purchasers ages 50–69 by a simplified underwriting program, PL Easy Crusing. To study extra about PL Promise, life insurance coverage producers can contact the Lynchburg workplace gross sales desk at (844) 238-4872 or [email protected].

About Pacific Life

For greater than 150 years, Pacific Life has helped hundreds of thousands of people and households with their monetary wants by a variety of life insurance coverage merchandise, annuities, and mutual funds, and provides a wide range of funding services to people, companies, and pension plans. Whether or not your purpose is to guard family members or develop your belongings for retirement, Pacific Life provides progressive services that present worth and monetary safety for present and future generations. Pacific Life counts greater than half of the 100 largest U.S. corporations as its purchasers. For extra firm info, together with present monetary power rankings, go to www.PacificLife.com.

Pacific Life refers to Pacific Life Insurance coverage Firm and its associates, together with Pacific Life & Annuity Firm. Consumer depend as of June 2018 is compiled by Pacific Life utilizing the 2018 FORTUNE 500® listing.

Pacific Life is a product supplier. It isn't a fiduciary and subsequently doesn't give recommendation or make suggestions concerning insurance coverage or funding merchandise.

Pacific Life refers to Pacific Life Insurance coverage Firm and its associates, together with Pacific Life & Annuity Firm. Insurance coverage merchandise are issued by Pacific Life Insurance coverage Firm in all states besides New York and in New York by Pacific Life & Annuity Firm. Product availability and options could fluctuate by state. Every insurance coverage firm is solely liable for the monetary obligations accruing below the merchandise it points.

PL PROMISE GUL No-Lapse Assure Common Life Insurance coverage. Coverage Type #P18PRUL and S18PRUL or ICC18 P18PRUL and ICC18 S18PRUL, based mostly on state of coverage challenge.
Riders will seemingly incur extra fees and are topic to availability, restrictions and limitations. When contemplating a rider, request a coverage illustration out of your life insurance coverage producer to see the rider’s affect in your coverage’s values.
The Lifetime No-Lapse Assure Rider (kind #R17LYFNL or ICC17 R17LYFNL, based mostly on state of coverage challenge) is included within the coverage at no extra cost. The no-lapse assure, relying on the way you construction your coverage, has a most length of the insured's lifetime, topic to sure limits. In case your web no-lapse assure worth is zero, the no-lapse characteristic terminates. If the no-lapse characteristic terminates, extra premiums can be required to renew the no-lapse assure. If coverage efficiency is such that your coverage is being maintained solely by the no-lapse assure, your coverage won't construct money worth.
Common life insurance coverage usually requires extra premium funds after the preliminary premium. If both no premiums are paid, or subsequent premiums are inadequate to proceed protection, it's doable that protection will expire.
Enhanced Give up Worth Rider (kind #R17LYESV or ICC17 R17LYESV, based mostly on state of coverage challenge) is included at no extra cost in insurance policies with dying advantages of $50,000 or extra with an elected no-lapse assure to at the very least age 100. For ages 70 and above, no-lapse assure length should be at the very least 30 years.

Life insurance coverage is topic to underwriting and approval of the applying and can incur month-to-month coverage fees.

Pacific Life's dwelling workplace is positioned in Newport Seaside, CA.

This materials might not be utilized in New York.

View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20190123005090/en/

Pacific Life
Steve Chesterman
(949) 219-3243
[email protected]

Supply: Pacific Life