Pacific Life

[LifeWorth]

I'm hoping those of you who write for this company can fill me in a bit. How competitive is PacLife price wise? What is the ease of doing business like?

I currently write mostly for American National, and it's underwriting department is a dream. Non medical up to and including $250,000. Does PacLife have non medical as well, in a face amount bracket that is actually helpful? Non med for just 50,000 would be kind of a bummer, for example.

Is PacLife's WL product par or non-par?

And so on. Any info is appreciated.

 

[DHK]

Pacific Life Insurance Products & Prospectuses | Pacific Life

Pacific Life does not have a whole life product of any kind.

VUL, UL, IUL, Term... and a whole suite of variable annuities and mutual funds.

Years ago I sold their variable annuities, but I never sold their life insurance. I think their main market is executive benefits... but I can't recall where I read or heard that.


If you like non-medical options, you might want to check out Assurity.
- Non med term up to $350,000... and it's convertible to their WL.
- Non med participating whole life up to $149,999.

 

[BNTRS]

Based on the questions you are asking, I'm not so sure PacLife is a good match for you and the type of clients you are targeting.

 

[DWPCL]

Pac does have a whole life product. Its interest sensitive and can only be used in qualified plans.

 

[LifeWorth]

Pacific Life Insurance Products & Prospectuses | Pacific Life

Pacific Life does not have a whole life product of any kind.

VUL, UL, IUL, Term... and a whole suite of variable annuities and mutual funds.

Years ago I sold their variable annuities, but I never sold their life insurance. I think their main market is executive benefits... but I can't recall where I read or heard that.


If you like non-medical options, you might want to check out Assurity.
- Non med term up to $350,000... and it's convertible to their WL.
- Non med participating whole life up to $149,999.

Is there a reason an agent would prefer medical over non medical?

Also, the term products are confusing me. There is PAC Term, and PAC Prime Term... Not quite sure what the difference is.

 

[DHK]

Is there a reason an agent would prefer medical over non medical?

Every agent would prefer non-medical for an unlimited amount of coverage. Paramed exams are not for the agent, but for the company... and are annoying... but it's part of the job.

Depending on the face amounts and the company's underwriting processes, at least with a medical, the client can qualify for even better rates/performance.

So ask yourself what's better for the client... not just for yourself.

Also, the term products are confusing me. There is PAC Term, and PAC Prime Term... Not quite sure what the difference is.

Generally, if a given life insurance company offers two types of term, the difference will be in the standard options &/or available riders.

 

[ltcadviser]

Is there a reason an agent would prefer medical over non medical?
.

Duh, yes..... If you want your clients to pay a much lower premium if they are in decent health.

 

[scagnt83]

You have received good advice so far.

Pac's main market is white collar/high earners. Especially the executive benefits market. They have a good IUL product.

I dont know much about their Term. Usually when there are 2 different types of Term policies under a single company, one version is convertible, the other is not.

Fully Underwritten policies are almost always a better deal for the client from a premium standpoint. And they are usually a much better product too.