Pacific Life: New Rates for PL Promise Term - Sept. 27th
On September 27, 2021, Pacific Life Insurance Company is adjusting rates for PL Promise Term. Rates have been updated to be more competitive. A 60-day transition period is provided.
Targeted “Sweet Spots”1
- Top 3 for 98% of preferred no nicotine risk classes (Preferred Best, Preferred, Select) across all terms, faces, ages, and genders
- Top 3 for 98% of all Preferred No Nicotine risk class combinations for 25- and 30-year terms
- Top 3 for 100% of Preferred No Nicotine rate class combinations for face amounts less than $100K
- Top 3 for majority of combinations, including 88% of all no nicotine rate class combinations across all terms, face amounts, ages, and genders and 100% for $500K face or higher and ages 45 and older
The new PL Promise Term rates go into effect beginning September 27, 2021 for all states except NY. Cases that are issued (for delivery) through November 25, 2021 automatically receive the better of the old and new PL Promise Term rates. No request is necessary.
This date provides a 60-day transition from the new rate launch date. Cases that are issued after this date receive the new PL Promise Term rates.
- Up to $2M in coverage with no medical exams with PL Swift Sailing accelerated underwriting
- Substandard risk class pricing (+20% per table vs. the traditional +25%)
- Monthly Premium mode (monthly premiums)
- eCapabilities and digital solutions resulting in shorter cycle times and higher placement rates
- New AboutMe Online Health History tool provides another option for gathering health history information
Please give BUA a call at 1-800-792-6795 if you have any questions.