Increase to Face Amount Limit for PL Promise GUL as of September 21, 2020

Pacific Life is increasing the PL Promise GUL1 face amount limit to $3.5 million effective September 21, 2020. PL Promise GUL is a universal life insurance product with no-lapse guarantees designed to provide affordable death benefit protection.

The face amount limit of $2.5 million that was implemented on April 1, 2020 is increasing to $3.5 million as of September 21, 2020. Winflex Web and all of our other quoting vendors will be updated with new face amount limit on September 21, 2020. Any ticket or application submitted on or after the effective date (September 21, 2020) with a face amount greater than $3.5 million will not be considered.

Life insurance remains an important product for consumers to purchase and own. It is our job to make sure you are capable of providing customers the long-lasting life insurance protection they need.

PL Promise GUL is an affordable option for clients seeking death benefit protection that offers:
• Face amounts between $25k – $3.5 million, as of September 21, 2020
• Affordable alternative to whole life
• Enhanced Surrender Value Rider at no cost²
• Added consumer protection with a no-lapse guarantee³, that can be tailored to the client’s desired no-lapse guarantee duration
• Optional PL Promise Chronic Illness Rider at policy issue for a monthly rider charge4,5
• Optional Waiver of Monthly Deduction Rider at policy issue for a monthly rider charge should the client become disabled

1 PL PROMISE GUL No-Lapse Guarantee Universal Life Insurance. Policy Form #P18PRUL and S18PRUL or ICC18 P18PRUL and ICC18 S18PRUL, based on state of policy issue.
2 Enhanced Surrender Value Rider. Form #R17LYESV or ICC17 R17LYESV, based on state of policy issue.
3 The Lifetime No-Lapse Guarantee Rider (form #R17LYFNL or ICC17 R17LYFNL, based on state of policy issue) is included in the policy at no additional charge. The no-lapse guarantee, depending on how your client structures their policy, has a maximum duration of the insured’s lifetime, subject to certain limits. If your client’s net no-lapse guarantee value is zero, the no-lapse feature terminates. If the no-lapse feature terminates, additional premiums would be required to resume the no-lapse guarantee. If policy performance is such that your client’s policy is being maintained solely by the no-lapse guarantee, your client’s policy will not build cash value.
4 PL Promise Chronic Illness Care Rider is an accelerated death benefit rider for chronic illness. Policy Form #R18LYCHR or ICC18 R18LYCHR, based on state of policy issue.
5 Riders may incur additional charges and are subject to availability, restrictions, and limitations. Please refer to the policy and rider contract for additional details. Clients should be shown policy quotes with and without riders to help show the rider’s impact on the policy’s values.
6 Waiver of Monthly Deduction Rider. Form #R18WMD or ICC18 R18WMD, based on state of policy issue.

Sales and Marketing Materials
Pacific Life remains committed to making it easier for Brokerage General Agents (BGAs) and life insurance producers to do business with us.

Four Ways To Pay The SECURE Act Tax

The new SECURE Act just changed the rules governing after-death distributions of tax qualified money, including IRAs and 401(k)’s. The new law accelerates the time in which taxes must be paid on this money.

Have your clients planned for this new 10 year distribution rule?
Have you planned for the loss of stretch IRA business?
We’ve uncovered four ways life insurance can mitigate the tax impact to your clients and minimize taxes to the IRS.
Prev 1 of 1 Next
Prev 1 of 1 Next

Sales Idea – How To Triple Your Life Insurance Commission – A Case Study

Here is a life insurance case study that will help your clients by giving them more options in the future by: doubling their premiums, for half the number of years, which also happens to triple your commissions. How does this work and how is it good for your clients? Take three minutes to learn how this concept recently helped a real client.

Prev 1 of 1 Next
Prev 1 of 1 Next

Sales Idea – What if healthcare was built into your retirement plan?

What if healthcare was built into your retirement plan?
What if you could build healthcare benefits into your retirement plan?

When your clients need healthcare services in retirement for long term care, they will need to accelerate their spending.

What if there was a way to access MORE than what was in their account?

There’s only one way to do that!

Take two minutes to learn more then contact me at Financial Brokerage to discuss how we can help you help your clients do the same.

Be sure to subscribe to our channel so you don’t miss a single episode.

Prev 1 of 1 Next
Prev 1 of 1 Next

Sales Idea – Why Use Cash Value Plans For Key Person Policies?

Why Use Cash Value Plans For Key Person Policies?
Businesses purchase life insurance on key employees to guard against the costs of replacing that person and the business production they represent should they pass away unexpectedly. These businesses typically purchase term life insurance policies to keep expenses low. Unfortunately those low expenses up front might cost them opportunities in the future.

There are several reasons your business owner clients should consider permanent cash value life insurance instead.

Most agents and advisors NEVER mention these situations to their clients. You can be the first to bring these business enhancing ideas to your clients.

Want to see this plan in action? Take a listen to this quick video, then contact me to do the same for your clients.