Pacific Life - New Rates for PL Promise Term


On July 9, 2021, Pacific Life Insurance Company is adjusting rates for PL Promise Term, a product specifically designed to serve the death benefit protection needs of the broad market consumer (household incomes of $50K to $250K).

Rates have been updated to be more competitive. A 60-day transition period is provided.

You can rely on Pacific Life to deliver consistent, competitive pricing and automated, simple solutions.

Targeted “Sweet Spots”*

  • Top 3 for 100% of annual mode Preferred Best No Nicotine and Preferred No Nicotine combinations
  • Top 3 for 96.0% of preferred no-nicotine rate class combinations (Preferred Best No Nicotine, Preferred No Nicotine, Select No Nicotine)
  • Top 3 for 94.9% of 25-year term combinations
  • Top 2 for 100% of face amounts less than $100k

Competitive Strengths

  • Substandard pricing (+20% per table versus the traditional +25%)
  • Monthly Premium mode (monthly premiums)
  • Accelerated and fluidless underwriting options
  • eCapabilities and digital solutions resulting in shorter cycle times and higher placement rates

Transition Period

The new PL Promise Term rates go into effect beginning July 9, 2021 for all states except NY. Cases that are issued (for delivery) through September 6, 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 our new rate launch date. Cases that are issued after this date receive the new PL Promise Term rates.


*Competitive Positioning of non-affiliated companies as of 6/16/2021 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), Fidelity RAPIDecision Life (F4225), 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), Principal Term (SN/SN 89), Protective Classic Choice Term (UL-22), Prudential Term Essential (PLTIC-2016), The Savings Bank Life Insurance Company of Massachusetts (SBLI) Level Term (P-LT), United of Omaha Term Life Answers (6181L-0696). Pacific Life PL Promise Term (ICC16 P16LYT) rates are effective 7/9/2021. Comparisons based on quinquennial ages from 20 through 80 as applicable for term periods 10, 15, 20, 25, 30; all face bands from $50k+; all 6 risk classes; and annual and monthly payment modes.