Death Benefit Protection With an Attractive Conversion Benefit
Pacific Elite Term
Term Life Insurance with Level Premium Periods 1
Key Features
Tax-free2 death benefit protection with competitive premiums for 10-, 20-, and 30-year periods. Four face amount bands of $250,000 to $499,999, $500,000 to $999,999, $1 million to $2,999,999, and at $3 million+.3
Convertible to any eligible Pacific Life cash value life insurance policy up to 10 years based on issue age with no additional underwriting.4 As an extra benefit, Pacific Life may add a conversion credit to the new policy if converted starting in policy year two. To extend the conversion period, clients may choose to elect the optional Conversion Extension Rider.5,6
These riders provide early access to a portion of the death benefit in case of a qualifying terminal, critical, or chronic illness, enhancing financial flexibility during challenging times.7
With Pacific Accelerated Underwriting+ (PAL+), your clients' applications are intelligently routed for the least invasive underwriting method possible.
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Firm and state variations may apply. Contact your Pacific Life representative for availability.
1Pacific Elite Term (form series P12TRF and P12TRF 10,20,30, varies based on level premium period chosen and state of policy issue) is term life insurance with level premium periods.
2For federal income tax purposes, life insurance death benefits generally pay income tax-free to beneficiaries pursuant to IRC Sec. 101(a)(1). In certain situations, however, life insurance death benefits may be partially or wholly taxable. Situations include, but are not limited to: the transfer of a life insurance policy for valuable consideration unless the transfer qualifies for an exception under IRC Sec. 101(a)(2)(i.e. the transfer-for-value rule); arrangements that lack an insurable interest based on state law; and an employer-owned policy unless the policy qualifies for an exception under IRC Sec. 101(j).
3$250,000 minimum face amount.
4Policy is convertible during the earlier of the first 10 policy years or attained age 70, but not less than 2 years. There are circumstances in which replacing your client’s existing life insurance or annuity can benefit your client. You should make a careful comparison of the costs and benefits, including any applicable surrender charges, of your client’s existing policy and the proposed policy to analyze how a replacement may affect your client’s plan of insurance. You should provide this information to your client and discuss whether replacement is in your client’s best interest.
5Riders will likely incur additional charges and are subject to availability, restrictions, and limitations. Clients should be shown policy illustrations with and without riders to help show the rider's impact on the policy's values.
6Conversion Extension Rider Form series R25EXT, S25EXT, varies based on state of policy issue.
7Terminal Illness Rider Form #R25TTI; Chronic Illness Rider Form series R25TCH, S25TCH; Critial Illness Rider Form series R25TCI, S25TCI; varies based on state of policy issue.
Pacific Life, its affiliates, their distributors and the respective representatives do not provide tax, accounting or legal advice. Any taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor or attorney.
Life insurance is subject to underwriting and approval of the application.