Product Changes


SUBJECT: Introducing Reprice on PL Promise Term1 Life Insurance
Introducing Reprice on PL Promise Term Life Insurance1
As of April 16, 2018, PL Promise Term life insurance just got more competitive. Check out our new premiums, plus other great news. You can rely on Pacific Life to deliver consistent, competitive pricing and automated, simple solutions.
•Premium decreases focused on achieving top 3 premium ranking in the following areas:
– 25-year term duration – Select risk class – Applicants age 50-69, any risk class, leveraging our new PL Smooth Sailing fluidless underwriting program (see page 2 for details)
•Continued competitive strengths in the following areas:
– Competitive Substandard pricing (+20% per table vs. the traditional +25%)
– Competitive Monthly Premium mode (monthly premiums)
Transition Period The new PL Promise Term rates go into effect beginning April 16, 2018. A 60-day transition period from April 16, 2018 through June 14, 2018 is provided. (See chart on page 2.)
A request to use the lower rates is not required and any premium received with an application using the higher rate will automatically be refunded.


As you may already know the UL Protector is being re-priced. The new rates will be effective June 11, 2018 in most states.

. June 11, 2018 (Ready to Sell Date): New Rates for the repriced product are in effect. All applications signed and dated on or after June 11, 2018 will receive New Rates (unless Old Rates are requested and permitted). For Alaska and Massachusetts, the current face amount limit of $5 million is removed for New Rates.

. July 1, 2018 (Transition Period End Date): Last day that an application can be signed with a request for Old Rates

. If Old Rates are desired for an application dated during the 21-day Transition Period, a written request, along with the appropriate presentation version, must be submitted on or after the state introduction date

. The face amount limit of $5 million is still in effect for Old Rates for Alaska and Massachusetts

. Applications dated July 2nd and later will receive the New Rates only

. States that approve the revised product after June 11, 2018 will have their “Ready to Sell Date” adjusted