Pacific Life introduces Two New Universal Products

As part of providing clients with flexible death benefit protection, Pacific Life Insurance Company is launching two new universal products called Pacific Discovery Xelerator and Pacific Indexed Accumulator.

The first plan, simplified as PDX IUL 2, targets high-income clients who want long-term cash value potential in seeking death protection and retirement income potential. It also highlights tax-free loans and withdrawals. The PIA 6, on the other hand, focuses on higher cash surrender values and can be beneficial for corporate-sponsored life insurance plans.

According to Pacific Life Vice President John O’Donnell, the launch of these two products reflect the commitment of IUL to serving clients. He added, “Two years ago, we launched Pacific Discovery Xelerator IUL, the number one selling IUL for the last two years in a row. Now, we’re giving clients even more choices for a greater range of policy potential.”

The two new products have 15 riders for clients to customize their plan and policy for their individual needs. In addition, Pacific life also has illustrated a system and tools to help clarify the choices of each client. There are Policy Charges and Policy Credits reports that show interest credits and charges linked with the riders.

Although the two products are said to be universal, New York is an exception. This is due to federal income tax purposes and other policies. In addition, there is a difference between the expected annual premiums which can be more than the target premium in New York.