June 25, 2025 Reinsurance

Pacific Life Introduces New Variable Universal Life Insurance Product Now Available Through State Farm

Business Wire

Authorized State Farm agents can now offer customers a life insurance product with market-driven growth potential

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--
Pacific Life is pleased to introduce a new, straightforward variable universal life (VUL) insurance product, designed for customers ages 30-55 who are comfortable pursuing cash value over the long term and have a tolerance for market-based risk.

Pacific Protector Plus VUL¹ offers tax-free² death benefit protection and cash value accumulation potential through a streamlined but diverse selection of variable investment options and interest crediting strategies.

“We’re so proud that Pacific Protector Plus VUL was chosen to be a part of the State Farm portfolio. This collaboration is a great fit for both of our companies because our values and customer focus are so closely aligned,” said Dawn Behnke, Executive Vice President, Consumer Markets, Pacific Life.

State Farm is committed to meeting customers’ needs with products and services to help customers manage the risks of everyday life and realize their dream. The design of Pacific Protector Plus VUL offers the opportunity for authorized State Farm agents to help customers make their own decisions about how to protect the ones they love while also pursuing their financial goals.

“Pairing two companies that collectively share 260 years of experience caring for customers is a winning combination,” said Sarah Mineau, Senior Vice President, Financial Services, State Farm. “Together, we have a unique opportunity to impact more people, offering them the protection they need, and empowering them to invest in their financial well-being.”

Pacific Protector Plus VUL takes VUL back to the basics, with these important features:

Competitive performance for death benefit-focused designs
Opportunity for cash value growth potential through a streamlined set of mutual-fund style variable investment options that help reduce complexities, yet provide a holistic mix of options to address a variety of goals and risk tolerances
Choice of indexed³ and fixed options to help hedge against market volatility
Choice of two optional living benefit riders⁴ in case of chronic or terminal illness⁵
Short-term, no-lapse guarantee to provide lapse protection from [five to 15 years]—at no additional cost^4,6

Pacific Protector Plus VUL provides authorized State Farm agents with opportunities to help meet customer needs for legacy, income protection, and business planning, within one product. It also may be attractive for State Farm customers who have maxed out contribution limits or are no longer eligible for other financial vehicles, such as 401(k)s or Roth IRAs.

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 nearly 160 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.

About State Farm

For over 100 years, the mission of State Farm has been to help people manage the risks of everyday life, recover from the unexpected, and realize their dreams. State Farm and its affiliates are the largest providers of auto and home insurance in the United States. Its more than 19,400 agents and 67,000 employees serve over 91 million policies and accounts – including auto, fire, life, health, commercial policies and financial services accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is also available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 39 on the 2024 Fortune 500 list of largest companies. For more information, please visit www.statefarm.com.

¹Pacific Protector Plus VUL, issued by Pacific Life Insurance Company, Form series P23VIUL, S23V3P, varies based on state of policy issue.

²For federal income tax purposes, life insurance death benefits generally pay income tax-free to beneficiaries pursuant to IRC Sec. 101(a)(1). In certain situations, however, life insurance death benefits may be partially or wholly taxable. Situations include, but are not limited to: the transfer of a life insurance policy for valuable consideration unless the transfer qualifies for an exception under IRC Sec. 101(a)(2)(i.e. the transfer-for-value rule); arrangements that lack an insurable interest based on state law; and an employer-owned policy unless the policy qualifies for an exception under IRC Sec. 101(j).

³The indexed account options do not directly participate in any stock or equity investments.

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

⁵Premier Chronic Illness Rider (CHR) (Form series R22CHR, S21CHR, varies based on state of policy issue). [CHR is not approved or available in CA.] Premier Living Benefit Rider 2 (Form series R18ADB, S18ADB, varies based on state of policy issue).

⁶Short-Term No-Lapse Guarantee Rider (Form #R21SNL, varies based on state of policy issue). Eligibility and duration based on insured’s issue age. Paying only the Short-Term No-Lapse Premiums will guarantee the death benefit from [five to 15 years], but will not guarantee cash value accumulation. If you discontinue paying the Short-Term No-Lapse Premiums, the no-lapse feature will terminate before the guaranteed duration. If this occurs, additional premiums in an amount equal to the short-fall can be paid to bring the no-lapse feature back in-force. If policy loans or withdrawals are taken, additional premiums may be required to keep the no-lapse feature in force. Additional premiums may be required to continue the policy beyond the guaranteed duration.

May or may not show.

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. 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.

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 Company insurance products are provided in the applicable product and underlying fund prospectuses. These prospectuses are available from your life insurance producer or at www.Pacificlife.com. Read them carefully before investing or sending money.

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.

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.

The State Farm sales practice philosophy is about placing customer needs first, operating fairly and doing the right thing. State Farm strives to encourage customer conversations, customer service, and meeting customer needs in our related promotions, rewards, and incentives.

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

The home office for Pacific Life Insurance Company is located in Omaha, Nebraska.

State Farm is not an affiliated company of Pacific Life Insurance Company and Pacific Select Distributors, LLC.

Securities available through State Farm VP Management Corp. State Farm VP Management Corp. is a separate entity from those affiliated and/or unaffiliated entities which provide advisory services, banking, and insurance products. AP2025/04/0577

Securities, insurance and annuity products are not FDIC insured, are not bank guaranteed and are subject to investment risk, including possible loss of principal.

Neither State Farm nor its agents provide tax or legal advice.

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