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IMPORTANT

Pacific Life PL Promise GUL & PL Promise Conversion UL Reprice

March 27, 2023

For broker use only. Not for public distribution. Reproduction of this material is prohibited.

Pacific Life announced today the re-price of their GUL products. While there are price increases, there are also some positive enhancements and features.

Enhancements:

Larger target premiums
Higher return of premium feature for policies over $250K of face amount
Larger maximum face amount to $20M to age 71

Important Deadline:
There is a 60-day transition period. Cases marked as ISSUED by Pacific Life through 5/25/23 automatically receive the better of the old and new rates. No request is necessary. Cases issued after the 5/25/23 cutoff date will receive the new rates. We recomend getting applications submitted in good order as soon as possible.

State Availability:
South Carolina will not be available until 4/17/2023.
These enhancements are not available in Washington DC.

Action Needed:
Please contact your sales leader right away if you plan on taking an application soon to discuss options. While products change, the need for insurance is still there. We are here to help you navigate these changes.

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Disclaimer: Innovative Solutions Insurance Services does not give legal or tax advice. This information is general in nature, may be subject to change, and does not constitute legal, tax or accounting advice from any company, its employees, financial professionals or other representatives. Applicable laws and regulations are complex and subject to change. For advice concerning your individual circumstances, consult a professional attorney, tax advisor or accountant. Underwriting offers are subjective and still subject to carrier requirements and full underwriting interpretation.

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