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

Transition Period

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.

Competitive Strengths

  • 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.

1As applicable, comparisons based on quinquennial ages from 20 through 80 for term periods 10, 15, 20, 25, 30; all 5 face bands from $50K+; all 6 risk classes (Preferred Best No Nicotine, Preferred No Nicotine, Select No Nicotine, Standard No Nicotine, Preferred Nicotine Use and Standard Nicotine Use); and both annual and monthly payment modes. Competitive Positioning of non-affiliated companies as of 9/9/2021 CompuLife: AIG Select-a-Term (16901), American National Insurance Company (ANICO) Signature Term (ART12), Banner Life Insurance Company OPTerm (ICC18-OPTC), Equitable Brightlife Term (156-LT), John Hancock Protection Term (TL22), Lincoln LifeElements Level Term (TRM6063), Lincoln TermAccel Level Term (TRM6069), MassMutual Haven Term (17DTC), Nationwide Guaranteed Level Term (NWLA-490), North American ADDvantage Term (LS174), North American Classic Term (LS188), Protective Classic Choice Term (UL-22), Prudential Term Essential (PLTIC-2016), Symetra SwiftTerm (ICC20_LC1), Symetra Term 4.0 (ICC16_LC1), Transamerica Trendsetter Super (TL22 0417), United of Omaha Term Life Answers (6181L-0696). Pacific Life PL Promise Term (ICC16 P16LYT) rates are effective 9/27/2021.