Pacific Life: Are Your Clients Prepared for the Risk of Chronic Illness?

When the unexpected happens…

PL Promise GUL¹ with chronic illness protection can help

Guaranteed death benefit protection²
Affordable alternative to whole life
NEW! Ability for advance payments of up to $3 million of death benefit for chronic illness³

What does the rider do?

PL Promise Chronic Illness Care Rider³ offers benefit payments that may be used for any reason—medical or non-medical.

90-day elimination period
Couples discount for rider charges
Annual or monthly benefit payments
No receipts required

Learn More About the Rider

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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 The Lifetime No-Lapse Guarantee Rider (Policy Form #R17LYFNL or ICC17 R17LYFNL, based on state of policy issue) is included in the policy at no additional charge. The Lifetime Duration No-Lapse guarantee 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 will no longer be in effect. If the no-lapse feature is no longer in effect, additional premiums would be required to resume the no-lapse guarantee.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 policy value.

3 Pacific Life Insurance Company’s 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. Rider will incur additional charges and is subject to availability, restrictions, and limitations. Clients should be shown policy quotes with and without riders to help show the rider’s impact on the policy’s value. Benefit payments reduce the policy’s death benefit and other values under the policy. If the entire death benefit is accelerated, the policy will terminate. Regardless of the monthly election chosen, benefit payments may not exceed 100% of the IRS per diem. 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. However, federal, state, and/or local tax rules relating to the payment of accelerated death benefits are complex, will depend on your specific facts and circumstances, and benefits may or may not be taxable. In addition, these payments may affect eligibility for other benefits provided by federal, state, or local government including public assistance programs such as Medicaid. When benefits are received from multiple policies providing long-term care or chronic illness benefits for a given insured, including policies with different owners, all of those benefits must be aggregated to determine their taxability. Consequently, advice and guidance should be obtained from a personal tax advisor for more information. Pacific Life cannot determine whether the benefits are taxable.