Sales Ideas Blog

  • Increase to Face Amount Limit for PL Promise GUL as of September 21, 2020 (9/18/2020)

    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.

  • Sales Idea – Historical Guarantees – The GUL Alternative (8/31/2020)
    The 2020 pandemic and recession have caused financial hardship for many people and businesses throughout the world. However, these conditions have also produced new markets for life insurance sales. If you specialize in auto and homeowners insurance or group benefits, you already have the inside track to these buyers. Take a couple minutes to learn about the fastest growing life insurance sales markets in 2020.
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  • Sales Idea – Prospecting in a Pandemic (8/18/2020)
    The 2020 pandemic and recession have caused financial hardship for many people and businesses throughout the world. However, these conditions have also produced new markets for life insurance sales. If you specialize in auto and homeowners insurance or group benefits, you already have the inside track to these buyers. Take a couple minutes to learn about the fastest growing life insurance sales markets in 2020.
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  • Sales Idea – COVID-19 Underwriting Opportunities (8/10/2020)
    The COVID-19 global pandemic has changed life insurance underwriting. This is not necessarily a bad thing. The lack of available or willing paramedical examinations has actually made the underwriting process much easier for the majority of applicants. Conversely, the tightening of underwriting guidelines for another segment of the population has created new challenges. It has also created a tremendous sense of urgency for those clients. Both underwriting changes should make life insurance sales faster and easier for everyone involved.

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