Pacific Life today announced the addition of PL Promise GUL, a new, no lapse guarantee universal life insurance (GUL) product to its PL Promise line.


Image: Pacific Life introduces new no-lapse guarantee universal life insurance product for the underinsured broad market. Photo: Courtesy of fantasista/

Designed to help address the life insurance needs of the underinsured broad market, the new life insurance policy provides lifetime death benefit protection with predictable premiums, longer guaranteed coverage periods, and living benefit options to help meet evolving financial needs.

The policy features:

Accessible $25K minimum face amount

Consumer protection so premiums paid one month early or late will have no adverse impact to intended guarantee – avoids unnecessary catch-up premiums.

Predictable and convenient fluidless underwriting for up to $1 million in coverage for clients age 50–69

Enhanced cash surrender value rider at no additional cost.

“In the PL Promise product line, we have developed simpler products with lower minimum coverage amounts and competitive pricing to make them more accessible to the broad market,” said Brynn Thabet, assistant vice president of product management in the Lynchburg life insurance division of Pacific Life. “The PL Promise expansion offers peace of mind for those looking to protect their families for longer than term life insurance might cover. Plus, our consistent and predictable fluidless underwriting has clear qualification criteria, and no unexpected knock-outs.”

Coverage for the Broad Market

For the broad market (U.S. households with annual income of $50,000 to $250,000), Pacific Life offers competitively priced PL Promise life insurance products and the convenience of no additional medical exams or bodily fluids for clients ages 50–69 through a simplified underwriting program, PL Smooth Sailing.

Source: Company Press Release