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Pacific Life Launches New Variable Universal Life Product for Wealth Transfer Market

Competitive premiums and strong guarantee to age 100 offer attractive and flexible protection for clients seeking to preserve and protect their financial legacies

NEWPORT BEACH, Calif. – April 18, 2023 – Pacific Life today announced it has added a new protection-focused variable universal life insurance (VUL) product aimed at the $68 trillion1 wealth transfer market. Pacific Protector VUL2 is designed for cost-efficient guaranteed death benefit protection3,4 to help clients financially protect their loved ones and legacy, while also providing the potential to build cash value.

“Now more than ever, we’re dedicated to offering a competitive, well-rounded lineup of VUL products tailored to meet clients’ financial needs. A focus on lower premium for the maximum guaranteed death benefit provides a strong option for financial professionals5 and their clients looking to solve wealth transfer planning scenarios,” said Greg Reber, senior vice president of Pacific Life’s insurance sales and distribution. “Pacific Protector VUL reflects Pacific Life’s ongoing commitment to building a diversified life insurance product portfolio that positions the company to deliver in all market environments for both protection and accumulation.”

Pacific Protector VUL is the first Pacific Life Insurance Company product available with the new Premier Chronic Illness Rider (CHR), an accelerated death benefit rider for chronic conditions.4,6 Available at issue for an additional monthly charge pending state availability, the Premier Chronic Illness Rider does not require financial professionals to have a health license and is intended to allow the policyowner access to funds in the event of a chronic illness.

“In addition to offering clients peace of mind with guaranteed death benefit and living benefit options, Pacific Protector VUL empowers clients and financial professionals to develop advanced life insurance strategies ranging from complex wealth transfer and estate planning to business insurance needs,” said Bill Bell, vice president of the Advanced Designs Unit at Pacific Life.

As part of the investment choices available with Pacific Protector VUL, clients can access a concise but diverse selection of market-driven variable investment options across asset classes for tax-deferred cash accumulation potential. The fund lineup includes an array of low fund fee options with a selection of passively managed index and environmental, social and governance (ESG) funds.


For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products and annuities, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the 100 largest U.S. companies as its clients and has been named one of the 2023 World’s Most Ethical Companies® by the Ethisphere Institute. For additional company information, including current financial strength ratings, visit

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2022 is compiled by Pacific Life using the 2022 FORTUNE 500® list.


1 Source: “Strategies to navigate the $68 trillion ‘wealth transfer,’ according to top-ranked advisors.” Jessica Dickler, CNBC, Oct. 2022.

2 Form series #P19PHV, S22PRO, varies based on state of policy issue.

3 The optional Flexible Duration No-Lapse Guarantee Rider (Form series #R21FNL, S21FNL varies based on state of policy issue) is available at policy issue for additional cost. For the rider’s guarantee to remain in place, the policyowner must not request an unscheduled increase in face amount and must remain 100% allocated among the Fixed Option or any of the other Allowable Investment Options specified in the prospectus. The no-lapse guarantee, depending on how you structure your policy, has a maximum duration of up to the insured’s lifetime, subject to certain limits. If your 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 policy is being maintained solely by the no-lapse guarantee, your policy will not build cash value. Riders will likely incur additional charges and are subject to availability, restrictions, and limitations. When considering a rider, request a policy illustration from your life insurance producer to see the rider’s impact on your policy’s values.

4 Riders will likely incur additional charges and are subject to availability, restrictions, and limitations. When considering a rider, request a policy illustration or quote from your life insurance producer to see the rider’s impact on your policy’s values.

5 In order to sell life insurance products, a financial professional must be a properly licensed and appointed life insurance producer.

6 Form series #R22CHR, S21CHR, varies based on state of policy issue. The rider allows the policy owner to accelerate a portion of the death benefit as rider benefit payments, when the insured has been certified as chronically ill (unable to perform without substantial assistance at least 2 activities of daily living for an expected period of 90 days or requiring substantial supervision due to severe cognitive impairment) by a licensed healthcare professional. Lifetime and monthly maximum rider benefits apply. Request a policy illustration from your financial professional for more information.

Rider benefit payments will reduce policy values, including death benefit, cash surrender value, and policy debt, and may adversely affect the benefits under other riders. Benefits paid by accelerating the policy's death benefit are intended to qualify as death benefits under section 101(g) of the Internal Revenue Code and may be excludable from your income and may not be subject to federal taxation. Tax treatment may depend on factors such as the amount of benefits, the amount of qualified expenses incurred, or if similar benefits are being received under other contracts. These amounts may also be in relation to certain IRS limitation (referred to as "per diem" limits). Tax laws relating to accelerated death benefits are complex. Receipt of accelerated death benefits may affect eligibility for public assistance such as Medicaid. When benefits are received from multiple policies providing chronic illness benefits for a given insured, including policies with different owners, all of those benefits must be aggregated to determine their taxability. Pacific Life cannot determine whether the benefits are taxable. If there are any questions concerning the tax implications of these riders, qualified and independent legal and tax advisors should be consulted.

There is an upfront cost for the CHR rider (see the policy illustration for details). Benefit payments for the CHR rider reduce the death benefit dollar-for-dollar, if the entire death benefit is accelerated the policy will terminate.

Pacific Life, its affiliates, their distributors and respective representatives do not provide tax, accounting or legal advice. Any taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor or attorney.

Pacific Life is a product provider. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products.

Pacific Life Insurance Company is licensed to issue insurance products in all states except New York. Product/material availability and features may vary by state.

Insurance products and their guarantees, including optional benefits and any crediting rates, are backed by the financial strength and claims-paying ability of the issuing insurance company, but they do not protect the value of the variable investment options. Look to the strength of the life insurance company with regard to such guarantees as these guarantees are not backed by the broker-dealer, insurance agency, or their affiliates from which products are purchased. Neither these entities nor their representatives make any representation or assurance regarding the claims-paying ability of the life insurance company. Variable insurance products are distributed by Pacific Select Distributors, LLC (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company and are available through licensed third-party broker-dealers.

Life insurance is subject to underwriting and approval of the application and will incur monthly policy charges.

Pacific Life Insurance Company reserves the right to change or modify any non-guaranteed or current elements.

The right to modify these elements is not limited to a specific time or reason.

This material reflects the Pacific Life Insurance Company policy features and benefits. All policy features and benefits may not be available through some Broker Dealers.

“World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC.

You should carefully consider a variable life insurance product’s risks, charges, limitations, and expenses, as well as the risks, charges, expenses and investment goals/objectives of the underlying investment options. This and other information about Pacific Life insurance products are provided in the applicable product and underlying fund prospectuses. These prospectuses are available from your life insurance producer or at Read them carefully before investing or sending money.

Investment and Insurance Products: Not a Deposit

Not Insured by any Federal Government Agency

Not FDIC Insured

No Bank Guarantee

May Lose Value



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