Online Tool Exclusively from Pacific Life Addresses Needs of Overworked Advisors
Newport Beach, Calif. (January 31, 2008) – The complexity of life insurance sales and the on-going service of policies continues to grow. To help insurance professionals address this problem, Pacific Life Insurance Company and Pacific Life & Annuity Company offer Planned Performance Tracking, an exclusive web-based policy management system that provides “at-your fingertips” information and powerful tools to more effectively monitor in-force policies while saving time, reducing paperwork and increasing client service.
“Life insurance is a long-term sale and active monitoring is essential to achieving the best possible result from the policy,” explained Alyce Peterson, vice president of marketing services for the Life Insurance Division. “By automating many of the tasks that need to happen over the life of the policy, Planned Performance Tracking can streamline client service.”
Peterson also pointed out that many insurance professionals are “drowning in paperwork.” This reality was recently confirmed by the 2007 Financial Advisor Scoreboard1 report which found that 70 percent of advisors spend 20 percent of their work week doing paperwork. Peterson says that translates to one full day of missed sales opportunities or a day away from working directly with clients each week.
Insurance professionals can use Planned Performance Tracking to help get that day back. The latest release features a policy tracking report that compares the original policy projections to how the policy is actually performing at that moment. Using this tool, insurance professionals can compare an “as issued” illustration or baseline illustration against an in-force illustration with minimal input to easily create client presentations.
In addition, Planned Performance Tracking can be used to:
- Schedule automatic in-force illustrations.
- Schedule reminders for illustrated policy changes such as switching the death benefit option in future years.
- Get a policy “snapshot” including variable allocations/performance and equity indexed segments.
1 Survey compiled by Vestment Advisors, Inc.
Planned Performance Tracking is currently available through Pacific Life’s and Pacific Life & Annuity’s producer Web site, Lifeline.PacificLife.com. Producers interested in learning more about this exciting new Web-based system can contact their Pacific Life or Pacific Life & Annuity representative.
Pacific Life Insurance Company
Founded in 1868, Pacific Life provides life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans.2 Pacific Life counts more than half of the 50 largest U.S. companies as clients3 and is a member of the Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities.
2 Product features and availability vary by state.
3 Data compiled by Pacific Life using the FORTUNE 500® list as of April 2007.
Pacific Life & Annuity Company
Pacific Life & Annuity Company offers a wide range of products, including life insurance, annuities, structured settlement annuities, and other investment products and services for individuals and businesses.4 Pacific Life & Annuity is a member of the Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities. For additional information about Pacific Life & Annuity, including its current financial strength ratings from A.M. Best, Fitch Ratings, Standard & Poor’s, and Moody’s, visit the company Web site at www.PacificLifeandAnnuity.com.
4 Product features and availability vary by state.
Pacific Life Insurance Company is licensed to issue individual life insurance and annuity products in all states except New York. Product availability and features vary by state. Individual life insurance and annuity products are available in New York through Pacific Life & Annuity Company. Each company is solely responsible for the financial obligations accruing under the policies it issues, and its product and rider guarantees are backed by that company’s financial strength and claims-paying ability.
Variable insurance products issued by Pacific Life Insurance Company and Pacific Life & Annuity Company are distributed by Pacific Select Distributors, Inc. (member FINRA & SIPC), a subsidiary of Pacific Life and an affiliate of Pacific Life & Annuity, and are available through licensed third party broker-dealers.
For more detailed information about Pacific Life’s variable life insurance products and the underlying funds, including charges, expenses and limitations, contact your registered representative or call Pacific Life at (800) 800-7681 for current product and underlying funds prospectuses. Read the prospectuses carefully before investing or sending money.
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