As of October 15, 2018, PL Promise Term life insurance just got more competitive. Check out our new premiums. You can rely on Pacific Life to remain committed to the term market place and ensure our product remains competitive with innovative solutions.

  • We’ve focused our improvements in the following areas:
    • The 10- and 15-year durations, all bands, ages 45-70, all classes except SNU. These improvements are focused to ensure we’re competitive in areas where our PL Smooth Sailing fluidless underwriting program (see page 2 for details) is available.
    • We’ve also made some improvements in the 30-year duration, $1MM+ band, ages 30-55, all rate classes except
  • 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 October 15, 2018. A 60-day transition period from October 15, 2018 through December 14, 2018 is provided. (See chart on page 2.)

During the transition period, 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.

The primary purpose of life insurance is death benefit protection against premature death of the insured.

Transition Rules

Dates Details
October 15, 2018 through December 14, 2018 From October 15, 2018 through December 14, 2018, the lower of the prior and new PL Promise Term rates will be issued for:

  •  Applications dated on or after October 15, 2018
  • Pending policies due to be issued on or after October 15, 2018
  • Premiums received that are higher than the lowest premium available will be refunded during this window
December 15, 2018
  • Starting December 15, 2018, all new and pending applications will receive the new PL Promise Term rates.
  • No exception requests will be granted after December 15, 2018.
Inforce Business
  •  For inforce business, reissues will not be made.

Don’t forget about PL Smooth Sailing Underwriting—a predictable alternative to today’s unpredictable fluidless offerings!

A straightforward application/underwriting process with no credit scores or ‘Black Box’ scoring. We guarantee the client will not have the hassle of an additional insurance exam/lab if the client meets the clearly stated qualification requirements. If your client qualifies, be sure to click “yes” to PL Smooth Sailing when submitting the ticket on PL Express App!

Qualification requirements:

  • Client’s age nearest birthday 50-69
  • Amount of life insurance coverage applied for and inforce with Pacific Life must be less than or equal to $500K
  • Comprehensive physical and blood work available from the applicant’s personal physician in the last 18 months

State Approvals

As of October 15, 2018, the reprice for PL Promise Term are approved in all states (except NY).


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