ATTORNEY NEWSLETTER
Indexed Universal Life Insurance (IULs)
Pacific Life Insurance Company IULs
Indexed universal life insurance (IULs) are often sold by agents as savings vehicles for the future. These policies can be costly and complicated. A number of carriers offer IULs. Pacific Life Insurance Company (usually referred to just as “Pacific Life”) is one seller of indexed universal life insurance in California and throughout the United States. Pacific Life issues policies through its subsidiaries Pacific Life & Annuity Company and Pacific Life Insurance Company. Trade names include Pacific Life PDX, Pacific Indexed Accumulator, Pacific Discovery Xelerator IUL, Pacific Indexed Estate Preserver, or Pacific Discovery Protector IUL. Pacific Life offers riders to these IULs for additional premiums.
Pacific Life IULs
All of these IUL products are complex and contain complicated structures of returns on your money, fees, and charge and penalties you may incur if you surrender your policy or allow it to lapse. In addition, marketing materials and sales illustrations can be confusing or misleading. Performance levels may not be what was represented. The attorneys at Evans Law Firm, Inc. represent consumers who suffer losses on indexed universal life insurance policies, including policies issued by Pacific Life. If you or a loved one is a United States resident and has purchased a Pacific Discovery Xelerator IUL call us today toll free at 888-50EVANS (888-503-8267) and we can review your sales materials, illustrations, policy and any riders for free.
Understanding How IULs Work
Consumers do not always understand how IULs work, and agents may not fully explain important details either. Actual returns may be less than those advertised. In many instances, IULs like the Pacific Discovery Xelerator IUL require additional premium payments after the initial premium, and if the policyholder does not keep up with premium payments, coverage may lapse. Carriers reserve the right to change fees, increase premiums, and modify any non‐guaranteed elements like fee waivers. If you would like us to review your Pacific Discovery Xelerator IUL policy and illustrations call us toll free at 888-50EVANS (888-503-8267).
