Pacific Life Unveils New Survivorship Variable Universal Life Product for Cost-Effective Legacy Planning

Pacific Life today announced it has added a new competitively priced survivorship variable universal life insurance (VUL) product designed to help clients maximize their financial legacy. With $84 trillion projected to be passed down to heirs over the next 25 years,¹ the death benefit protection-focused Pacific Legacy Survivorship VUL² features competitive premium solves for an array of pay patterns, especially short- and single-pay designs, while also providing available riders³ to help clients pivot if their estate planning needs change.

“With its flexible features and competitive premium, our newest product is well positioned to make an impact in the wealth transfer market,” said John Church, product marketing specialist, Consumer Markets, Pacific Life. “Cost-conscious individuals and couples can tailor their coverage to help meet their specific needs and goals and prep for potential changes in estate planning.”

Highlights of Pacific Legacy Survivorship VUL include:

• Cost-effective Coverage: No-lapse guarantee to younger insured’s attained age 90 at no additional cost⁴
• Growth Potential: Streamlined yet diverse selection of market-driven investment options across asset classes, including both actively managed and low-fee passively managed index funds
• Future Flexibility: Optional chronic or terminal illness protection for the surviving insured⁵

“By putting our clients’ needs first and leveraging our collective expertise in understanding the dynamics of the wealth transfer market, we were able to finetune our latest VUL product,” said Stephan Mitchell, assistant vice president of product marketing, Consumer Markets, Pacific Life. “Legacy planning is personal, but we give clients and financial professionals⁶ the tools they need to pass along assets equitably and efficiently.”

¹ Smith, Talmon Joseph, “The Greatest Wealth Transfer in History is Here, With Familiar (Rich) Winners,” The New York Times, May 14, 2023, https://www.nytimes.com/2023/05/14/business/economy/wealth-generations.html.

² Pacific Legacy Survivorship VUL is a flexible premium variable universal life insurance (Form series #P22SVL, S22PLS, varies based on state of policy issue). Variable universal life insurance generally requires additional premium payments after the initial premium. If either no premiums are paid, or subsequent premiums are insufficient to continue coverage, it is possible that coverage will expire.

³ Riders will likely incur additional charges and are subject to availability, restrictions and limitations. When considering a rider, request a policy illustration from your life insurance producer to see the rider’s impact on your policy’s values.

⁴ Age 90 No-Lapse Guarantee Rider (Form series R22NLG, S22NLG, varies based on state of policy issue) is issued with all policies electing Death Benefit Option A or B with insureds issue ages 79 and under. Paying only the Age 90 No-Lapse Premiums will guarantee the death benefit to the younger insured’s attained age 90, but will not guarantee cash value accumulation. If your client discontinues paying the no-lapse guarantee premiums, the no-lapse feature will terminate before the guaranteed duration. If this occurs, additional premiums in an amount equal to the short-fall can be paid to bring the no-lapse feature back in-force. If policy loans or withdrawals are taken, additional premiums may be required to keep the no-lapse feature in force. Additional premiums may be required to continue the policy beyond the guaranteed duration.

⁵ Premier Living Benefit Rider 2 (Form series #R18ADB, S18ADB, varies based on state of policy issue). Terminal Illness Rider-Last Survivor (Form #R13TIS, varies based on state of policy issue).

⁶ In order to sell this life insurance, a financial professional must be a properly licensed and appointed life insurance producer.

About Pacific Life

For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products and annuities, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life was named one of the 2023 World’s Most Ethical Companies® by the Ethisphere Institute. For additional company information, including current financial strength ratings, visit www.PacificLife.com.

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. Variable insurance products are distributed by Pacific Select Distributors, LLC (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company and are available through licensed third-party broker-dealers.

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, but they do not protect the value of the variable investment options. 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.

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.

You should carefully consider a variable life insurance product’s risks, charges, limitations, and expenses, as well as the risks, charges, expenses and investment goals/objectives of the underlying investment options. This and other information about Pacific Life Insurance Company insurance products are provided in the applicable product and underlying fund prospectuses. These prospectuses are available from your life insurance producer or at www.Pacificlife.com. Read them carefully before investing or sending money.

Life insurance is subject to underwriting and approval of the application and will incur monthly policy charges.

Pacific Life Insurance Company is located in Newport Beach, California.

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PR-52775-00 6/23

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