July 23, 2024 Reinsurance

Pacific Life Adds Three New Supplemental Health Insurance Products to Employee Benefits Lineup

Business Wire

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--
Pacific Life’s Workforce Benefits business announces the addition of three new supplemental health insurance products to its portfolio. These coverages allow employers to provide their employees with added financial security for life’s unexpected events.

“In our pursuit of excellence, we've crafted three new supplemental health insurance products, each designed to bridge the gaps in traditional coverage and deliver financial peace of mind,” said Erich Sternberg, senior vice president and head of Pacific Life Workforce Benefits. “Our digital-first approach ensures swift and accurate claims processing, exemplifying our commitment to customer-centric innovation. With these offerings, we're not just providing insurance; we're offering a safety net that empowers employees to thrive and reduce financial worry. It's this kind of forward-thinking that propels us at Pacific Life, as we continue to set the bar for industry excellence and customer satisfaction."

Pacific Life’s new products include:

Pacific Life Accident Insurance offers extra support to employees experiencing accidental injuries, including enhanced benefits like the organized sports booster.
Pacific Life Critical Illness Insurance provides a lump sum payment upon diagnosis for critical illnesses such as cancer, heart attacks, and strokes, with recurrence benefits if re-diagnosed.
Pacific Life Hospital Indemnity Insurance helps ease financial expenses associated with hospital stays, treatments, and more, including outpatient and inpatient behavioral health facilities.

"I am thrilled about the direction we've taken with these supplemental plans. The enhancements we've added specifically address the needs of our customers,” said Rob Mulligan, vice president workforce products and underwriting, Pacific Life. "Take, for instance, our Organized Sports Booster—it's a game-changer, increasing total benefits in the event of an organized sports-related injury. Considering the millions of children participating in sports and the significant injury rates, our Accident and Hospital Indemnity coverages are designed to provide substantial financial support directly to our members, ensuring more peace of mind and financial stability."

In addition to supplemental health insurance, Pacific Life offers dental, vision, and group term life - accidental death and dismemberment (AD&D) with disability insurance coming soon. To learn more about how Pacific Life is revolutionizing employee benefits with a friction-free, digitally native experience, visit www.pacificlife.com/workforcebenefits.

About Pacific Life

Pacific Life provides a variety of products and services designed to help individuals and businesses in the retail, institutional, workforce benefits, and reinsurance markets achieve financial security. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative life insurance and annuity solutions, as well as mutual funds, that provide value and financial security for current and future generations. Supporting our policyholders for more than 150 years, Pacific Life is a Fortune 500 company headquartered in Newport Beach, California. For additional company information, including current financial strength ratings, visit www.PacificLife.com.