Pacific Life Term Competitive Reprice - Effective May 16, 2022
Effective May 16, 2022, Pacific Life Insurance Company is repricing rates for PL Promise Term level premium life insurance—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 with a focus on all ages and preferred no-nicotine risk classes (Preferred Best, Preferred, Select).
Transition Period - The new PL Promise Term rates go into effect beginning May 16, 2022. Please note that the transition period for the April 18, 2022 PL Promise Term Reprice will end with the new May 16, 2022 effective date. Cases that are issued (for delivery) through July 14, 2022 automatically receive the better of the old and new PL Promise Term rates from both the April 18 and May 16 rate reprices. No request is necessary. This date provides a 60-day transition from the new rate launch date. Cases that are issued after July 14, 2022 receive the new PL Promise Term rates.
Please give us a call at 1-800-792-6795 if you have any questions about the reprice.