97 Pacific Life Insurance Co. has unveiled its latest flagship indexed universal life (IUL) insurance offering, targeting affluent clients seeking competitively priced life insurance protection with significant flexibility in their retirement and estate plans. The Pacific Horizon IUL 2, introduced earlier this month, boasts a tax-free death benefit and tax-free distributions designed to enhance retirement income. Dawn Behnke, Executive Vice President of Consumer Markets Business at Pacific Life, described Pacific Horizon IUL 2 as an evolutionary product, incorporating successful features from the company’s previous IUL offerings. Behnke emphasized the product’s versatility, catering to clients’ legacy, income, and business planning needs within a single product. The new IUL provides three coverage design options, allowing clients to prioritize higher early year cash surrender values, greater long-term accumulation potential, or a balance between the two. Furthermore, the product offers three rider designs, including the new Plus design featuring a level rider charge rate. These rider options aim to potentially enhance policy performance in exchange for a monthly rider charge. Additionally, five indexed accounts with various credit strategies, including one-year, multi-year, and volatility control indexed accounts, as well as a fixed account, provide clients with flexibility and choice in investment options. You Might Be Interested In Hess Shareholders Approve Chevron Merger, But Legal Hurdles Loom Large Enhancing Cost Controls for South Africa’s Banks Ameriprise Financial Recognized Among “America’s Greatest Workplaces for Women Wall Street Extends Gains as Hopes for Rate Cuts Persist Amgen to Showcase Cutting-Edge Research from Extensive Oncology Portfolio at ASCO 2024 New York Community Bancorp: Cheapest US Bank Stock, S&P Global Finds
