September 29, 2025 Reinsurance

Pacific Life Launches Feature-Rich Universal Life Product

Business Wire

Added Customization Options Help Clients Venture Forward with Confidence

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--
Pacific Life announced today that it has added a new flexible premium universal life (UL) insurance product to its lineup. Pacific Venture UL 2¹ provides a robust set of choices and replaces the Versa-Flex Venture UL² product. This versatile UL product is designed for business owners and affluent clients looking for competitively priced insurance protection and the ability to use the policy to meet a variety of financial needs—whether that's income replacement, business protection, or legacy planning.

A Straightforward Yet Multifaceted Design

With the addition of no-lapse guarantees to age 90 included at no additional cost and enhanced living benefit riders to help cover the cost of chronic illness or long-term care, Pacific Venture UL 2 now gives clients even greater flexibility. Protection can be structured to address their main financial concerns in a way that may be less complex than a typical indexed or variable universal life policy.

“Pacific Venture UL 2 can be thought of as the Swiss Army™ knife of ULs—it’s versatile and can support a wide range of customer needs,” says Sim Zady, vice president of life product development, Consumer Markets, Pacific Life. “It empowers clients to tailor their coverage to meet specific personal or business financial needs. The product offers strong performance potential across age groups and risk classes, combining robust death benefit protection with attractive cash value growth potential through a competitive interest-crediting rate. It may also allow for tax-free³ distributions.”

Pacific Venture UL 2 offers a variety of client-friendly features:

Cash value growth potential
Three customizable coverage types to help meet a variety of needs
Guaranteed protection via a choice of no-lapse guarantee riders to prevent policy lapse⁴
Three ways to plan for chronic illness or long-term care expenses

“Clients don’t always have a straightforward objective when it comes to life insurance,” says Kevin Kennedy, senior vice president and chief sales and marketing officer, Consumer Markets, Pacific Life. “If they have more than one goal, such as retirement income and legacy planning, and want to make sure they can access any cash value for chronic illness or long-term care costs, Pacific Venture UL 2 offers that opportunity in one product.”

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 PacificLife.com.

¹Pacific Life Insurance Company Pacific Venture UL 2 (Form series P25UL, S25VEN2, varies based on state of policy issue).

² Pacific Life Insurance Company Versa-Flex Venture UL(Form series P18UL, S18VEN, varies based on state of policy issue).

³For federal income tax purposes, tax-free income assumes, among other things: (1) withdrawals do not exceed tax basis (generally, premiums paid less prior withdrawals); (2) policy remains in force until death (any outstanding policy debt at time of lapse or surrender that exceeds the tax basis will be subject to tax); (3) withdrawals taken during the first 15 policy years do not cause or occur at the time of, or during the two years prior to, any reduction in benefits; and (4) the policy does not become a modified endowment contract. See IRC Secs. 72, 7702(f)(7)(B), 7702A. Any policy withdrawals, loans and loan interest will reduce policy values and may reduce benefits.

⁴Age 90 No-Lapse Guarantee Rider (Form series R22NLG, S22NLG, varies based on state of policy issue) is issued with all policies electing Death Benefit Option A or B with insureds issue ages 79 and under. Paying only the Age 90 No-Lapse Premiums will guarantee the death benefit to the insured’s attained age 90 but will not guarantee cash value accumulation. If your client discontinues paying the no-lapse guarantee premiums, the no-lapse feature will terminate before the guaranteed duration. If this occurs, additional premiums in an amount equal to the shortfall 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. Flexible Duration No-Lapse Guarantee Rider (Form series R25FNL, S25FNL, varies based on state of policy issue), depending on how your client structures their policy, 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 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 client’s policy is being maintained solely by the no-lapse guarantee, your client’s policy will not build cash value.

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.

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.

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. Look to the strength of the insurance company with regard to such guarantees because these guarantees are not backed by the independent broker/dealers, insurance agencies, 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 issuing company.

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.

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.

Not all products or optional benefits are available in all states or firms, and features may vary by state and firm.

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.

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.

Investment and Insurance Products: Not a Deposit • Not Insured by any Federal Government Agency • Not FDIC Insured • No Bank Guarantee • May Lose Value

25-199 ULC4391-00