Examples of Pacific Life in a sentence
Pacific Life also may reject or limit any premium payment that would result in an immediate increase in the net amount at risk under the Policy, although such a premium may be accepted with satisfactory evidence of insurability.
Pacific Life reserves the right to limit the amount allocated to the Fixed Accounts to $1,000,000 for net premium payments and $100,000 for loan repayments and transfers during the most recent 12 months for all of a Policy owner’s policies.
Upon the death of the insured, Pacific Life will pay to a named beneficiary death benefit proceeds, either in a lump sum or under a payment plan offered under the Policy.
Upon receipt of a completed application for a Policy, Pacific Life will follow certain insurance underwriting (i.e., evaluation of risk) procedures designed to determine whether the proposed insured is insurable.
The Pacific Select Exec Separate Account (the “Separate Account”) is a separate investment account of Pacific Life used to support the variable death benefits and policy values of Pacific Life’s life insurance policies.