US-based Pacific Life Insurance Company has added Mid-Cap Value Portfolio and the American Funds Asset Allocation Portfolio, two new investment options, to its offerings for variable universal life insurance policyowners.

The addition of the Mid-Cap Value Portfolio and the American Funds Asset Allocation Portfolio expands the breadth and depth of the investment options lineup and variable life insurance policyowners can now choose from 59 investment options, said Pacific Life.

American Funds Asset Allocation Portfolio provides access to the global equity and fixed income expertise of American Funds by investing all its assets in the Asset Allocation Fund of the American Funds Insurance Series. The Asset Allocation Fund is a global balanced fund, blending stocks of all sizes for growth, investment grade and high-yield bonds for income and money market instruments for asset preservation.

The Mid-Cap Value Portfolio, managed by BlackRock, focuses solely on the mid-cap value asset class that can help policyowners further diversify their portfolio. This investment option uses bottom-up selection of attractively priced mid-cap companies with an emphasis on broad diversification and proprietary fundamental research, the company said.

Joe Miscolta, assistant vice president of portfolio and product merchandising in Pacific Life’s life insurance division, said: We continually look for quality investment options so our variable universal life insurance policyowners can diversify their accumulated value. These two new investment options provide more diversification opportunities for our clients.