Pacific Life Insurance Company (“PLIC”) designs its products and services (collectively, “offerings”) to meet the insurance needs and financial objectives of its current and prospective customers, while balancing profitability and risk, and consistently monitors such to ensure that the offerings continue to provide the value expected. Collectively, PLIC’s offerings are designed and managed to enhance the company’s financial strength for the benefit of its mutual policy owners.

PLIC consistently tracks the financial profile of its offerings, including non-guaranteed elements, to ensure that they remain supportable under current and anticipated economic conditions. Pacific Life’s objectives in setting product-specific non-guaranteed elements include: (1) providing member value through long-term performance; (2) ensuring sufficient return on capital to maintain financial strength to support policy guarantees; and (3) balance equitable treatment of in force policyowners with the need for competitive new business to ensure continued profitability.

Life insurance and annuity products (“Products”), including long term care riders, are subject to oversight by governance structures that include senior executive representation across various departments, including Product Design, Finance, Office of the General Counsel, Risk Management, and others as needed. Products are put through a rigorous process to ensure that each is compliant with the applicable state and federal laws, including those enforced by the state departments of insurance, SEC, FINRA and Department of Labor.

Product materials for both independent producers and consumers are carefully reviewed to ensure they are fair and balanced, and support product education. Such material may include information about the features, benefits, costs, terms, conditions, exclusions, and the suitability of Products based on the client’s insurance needs and financial objectives. Such materials are reviewed to ensure compliance with company policy and procedures, as well as the applicable requirements of various regulators, including the state departments of insurance, SEC, and FINRA, and Department of Labor, as appropriate.

PLIC’s customers communicate with the company about the Products through various means, including through their independent financial professionals, directly through the Pacific Life website (both public and our customer portals), the ethics hotline and through our employees. Customer service representatives are available to answer questions and assist customers. Our compliance employees respond to inquiries and complaints, whether written or oral, fairly, and always consistent with our legal obligations. Complaints are an important source of information about the quality of our offerings. Our goals are to resolve complaints fairly and promptly, and, where Pacific Life is at fault, to identify and address any root cause.

Last updated May 30, 2023