Articles from Pacific Life

As a record number of Americans reach retirement age, addressing the growing demand for retirement income solutions remains a top strategic priority for Pacific Life. The Defined Contribution Lifetime Income (DCLI) business is a key pillar of that commitment, addressing the critical need for lifetime income through employer-sponsored savings plans, and a core component of the company’s institutional offerings, alongside pension risk transfer, stable value, capital markets and institutional fixed annuities.

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 Life has been named a 2025 national honoree of The Civic 50 by Points of Light, the world’s largest organization dedicated to increasing volunteering, recognizing it as one of the 50 most community-minded companies in the United States. The Civic 50 sets the standard for corporate citizenship with honorees selected based on investment of resources, integration across business functions, institutionalization through policies and systems and impact measurement.

Pacific Life’s Workforce Benefits business announced today its integration with bswift®, a cloud-based benefits technology service. With Pacific Life’s digital advantage, the integration will empower a friction-free, digitally native experience for employee benefits.

Pacific Life has been named one of the 2025 World’s Most Ethical Companies® by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. Pacific Life was evaluated on its culture of ethics; environmental, social, and governance (ESG) initiatives; ethics and compliance program; and initiatives that support a strong value chain.

Pacific Life announced today the promotion of Karen Neeley to senior vice president of the Institutional Retirement Solutions Group and Patricia Thompson to senior vice president and chief compliance and ethics officer.

Pacific Life announced today that it has entered the registered index-linked annuity (RILA) market with Pacific Protective Growth, which offers opportunities to track market indexes while providing levels of protection during market downturns. This RILA debuts the First Trust Growth Strength Net Fee Index and includes a seldom-found crediting strategy that potentially can accelerate retirement savings.

Pacific Life’s Workforce Benefits business today announced the addition of two new disability insurance products to its portfolio. These coverages allow employers to provide their employees with added paycheck protection if they’re unable to work.

A resounding majority (87 percent) of U.S. workers would welcome access to a guaranteed lifetime income stream as an employment benefit, according to the 2024 Voice of the American Workplace study conducted on behalf of Franklin Templeton by The Harris Poll. Today, Pacific Life and Franklin Templeton are announcing a strategic partnership to make this desire a reality, marking a significant milestone in their multi-year collaboration.

Pacific Life’s Workforce Benefits business announces the addition of three new supplemental health insurance products to its portfolio. These coverages allow employers to provide their employees with added financial security for life’s unexpected events.

Pacific Life’s Institutional business team was honored with three Hermes Creative Awards, two Stevie® Awards from The American Business Awards®, and four Telly Awards for work that includes a financial literacy white paper, an ESG motion graphic video, and The Wave Strength podcast series.

Pacific Life has been named a national 2024 Civic 50 honoree by Points of Light, acknowledging it as one of the 50 most community-minded companies in the United States. The Civic 50 sets the standard for corporate citizenship and showcases how leading companies are moving social impact and community to the core of their businesses.

To continue serving consumers’ varying retirement-income needs, Pacific Life recently enhanced the features of three of its optional benefits, available with certain advisory and traditional variable annuities for an additional cost. Designed for growth and protection, these strategies offer clients the flexibility to protect their money or withdraw income in retirement.

Pacific Life’s Workforce Benefits business today announced its integration with Selerix, a comprehensive benefits administration platform. Leveraging application programming interface (API) technology, the collaboration enables seamless data exchange, resulting in real-time benefit administration change updates and increased accuracy by minimizing manual data entry.

Pacific Life today announced Laura Cushing has been hired as the new chief human resources officer (CHRO) of Pacific Life, effective April 23, 2024. She will report to President and CEO Darryl Button and will sit on the company’s management committee.

Pacific Life today announced its integration with Employee Navigator, one of the nation’s leading benefits administration platforms, automating employee benefits management with the advantages of application programming interface (API) technology. Through this collaboration, Pacific Life’s Workforce Benefits products are available to groups of all sizes.

Pacific Life announced today Sean McCartney as vice president and head of distribution of its Workforce Benefits business. In his role, he will oversee the development and implementation of the division’s sales and account management strategy.

Pacific Life has been named one of the 2024 World’s Most Ethical Companies® by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. Pacific Life was evaluated on its culture of ethics; environmental, social, and governance (ESG) practices; ethics and compliance program; diversity, equity, & inclusion; and initiatives that support a strong value chain.

Pacific Life today announced its collaboration with the SS&C Black Diamond® Wealth Platform, a prominent portfolio-management and data-integration provider, to offer Registered Investment Advisors (RIAs) a streamlined experience for managing the investment options in their clients' Pacific Life advisory variable annuities.

Pacific Life announced today an update to its Sustainable Financing Framework, offering additional institutional sustainable investment options, and further expanding opportunities for environmental and social engagement.

Pacific Life’s Institutional business team was honored at the 44th annual Telly Awards with four awards for work that includes The Wave Strength podcast, a motion graphic video, and a LinkedIn Live webinar.

Pacific Life today announced it has added a new competitively priced survivorship variable universal life insurance (VUL) product designed to help clients maximize their financial legacy. With $84 trillion projected to be passed down to heirs over the next 25 years,1 the death benefit protection-focused Pacific Legacy Survivorship VUL2 features competitive premium solves for an array of pay patterns, especially short- and single-pay designs, while also providing available riders3 to help clients pivot if their estate planning needs change.

Pacific Life announced today its sales leaders for the organization’s new Workforce Benefits business and its recruiting efforts to hire regional sales representatives.

Pacific Life has been named a national 2023 Civic 50 honoree by Points of Light, acknowledging it as one of the 50 most community-minded companies in the United States. The Civic 50 sets the standard for corporate civic engagement and creates a roadmap for companies seeking to best use their time, talent, and resources to improve the quality of life in the communities where they do business.

Pacific Life today announced it has added a new protection-focused variable universal life insurance (VUL) product aimed at the $68 trillion1 wealth transfer market. Pacific Protector VUL2 is designed for cost-efficient guaranteed death benefit protection3,4 to help clients financially protect their loved ones and legacy, while also providing the potential to build cash value.

Pacific Life announced today its senior leadership team for the organization’s new Workforce Benefits Division.

Pacific Life, a leading global life insurance and retirement solutions company, today announced a new five-year partnership with the PGA TOUR as part of its Official Marketing Program.

Pacific Life today announced the promotion of Joe Krum to senior vice president, where he will lead the company’s global institutional investment group.

The Pacific Life Foundation today announced a five-year $2.5 million commitment to invest in national and local ocean health focused nonprofit organizations. The Nature Conservancy, Ocean Conservancy, Oceana, and World Wildlife Fund will each receive $500,000 over a five-year period. An additional $100,000 will be invested annually in local and regional ocean health focused charitable efforts. The Pacific Life Foundation has provided more than $17.1 million in grants that have directly supported ocean health and the conservation of marine mammal life.

Pacific Life today announced Mary Beth Eckert has been hired as executive vice president and chief information and digital officer of Pacific Life, effective December 13. She will report to President and CEO Darryl Button and will sit on the company’s management committee.

Pacific Life has added two new uncapped volatility control indexed accounts to select indexed universal life insurance (IUL) products. These indexed accounts are available on certain new and inforce policies and are tied to the BlackRock Endura® Index,1 which uses volatility controls to determine a daily mix of equities and short-term U.S. Treasuries to help navigate volatile markets.

Pacific Life today announced a strategic partnership with Human API, a leading electronic health records provider. By incorporating access to electronic health records and attending physician statements through Human API’s platform, applicants can benefit from a more seamless underwriting experience.

Pacific Life has named Michael Oler as head of Defined Contribution Lifetime Income (DCLI) for Pacific Life’s Institutional business. He will report to Senior Vice President and Head of Institutional Customer Solutions Group Paul Hance.

Pacific Life has launched Pacific Choice® 2, a new variable annuity, along with a new optional living benefit—Investment Guard. Pacific Choice 2 is an enhanced version of Pacific Life’s flagship variable annuity—Pacific Choice®—which has been available to consumers for nearly a decade. Pacific Choice 2 was designed to be more flexible and has choices reflecting customer needs in this economic environment at a cost that may be lower than Pacific Choice.

Pacific Life is a platinum corporate sponsor of the Association for Wholesaling Diversity (AWD) and continues to invest in efforts that increase diversity, equity, and inclusion in the financial industry. Sponsoring AWD is especially important for Pacific Life as it employs a large wholesaling team, and AWD is dedicated to the ongoing success, support, and development of Black financial services wholesaling professionals and partners with firms that recognize the need to improve diversity, equity, and inclusion within their organizations.

Pacific Life has expanded its offering of life insurance coverage to eligible individuals living with human immunodeficiency virus (HIV).

Pacific Life has been named a national 2022 Civic 50 honoree by Points of Light, acknowledging it as one of the 50 most community-minded companies in the United States. The Civic 50 sets the standard for corporate civic engagement and creates a roadmap for companies seeking to best use their time, talent and resources to improve the quality of life in the communities where they do business.

Pacific Life today announced its intent to enter the workforce benefits marketplace.

Pacific Life today announced a new collaboration with Wespath Benefits and Investments and WTW (formerly Willis Towers Watson) to provide the qualifying longevity annuity contract (QLAC) option in Wespath’s enhanced LifeStage Retirement Income program.

Pacific Life’s Retirement Solutions Division (RSD)’s New Business Status Tracker tool was honored with a gold Stevie® Award at the 16th annual Stevie Awards for Sales & Customer Service in the new IVR or Web Service Solution category.

Formed in early 2020 to bring Pacific Life’s collection of products to the institutional space, including defined contribution lifetime income, stable value wrap, pension risk-transfer, and funding agreements, the institutional business recently celebrated its second anniversary. Posting more than $10.4 billion in sales and deposits in 2021, and 144 percent employee growth since 2020, the business enters its third year with significant momentum.

Effective May 2, 2022, Pacific Life’s Pacific PremierCare suite of products will no longer be available for new sales. This includes Pacific PremierCare® Choice one-year, five-year, 10-year, and lifetime premium whole life insurance products with long-term care (LTC) benefits1 and Pacific PremierCare Advantage Universal Life Insurance with Long-Term Care Benefits2 in California.

Sustainalytics, which provides high-quality, analytical environmental, social and governance (ESG) research, ratings and data to institutional investors and companies, has released its first annual review of Pacific Life’s Sustainable Bond Framework and $800 million ESG bond issuance from April 2021.

Pacific Life announced today the following senior leadership appointments, effective immediately.

Pacific Life today announced Vibhu Sharma as its next chief financial officer (CFO), effective April 11. Mr. Sharma succeeds Darryl Button as CFO, following Mr. Button’s appointment as Pacific Life’s president and chief executive officer (CEO). Mr. Sharma will report to Mr. Button and serve on Pacific Life’s management committee with responsibility for the development and implementation of Pacific Life’s corporate and financial strategies, as well as oversight of the actuarial, corporate finance, internal audit, enterprise risk management, and corporate development functions.

Pacific Life has been named one of the 2022 World’s Most Ethical Companies® by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. Pacific Life was evaluated on five categories, including its ethics and compliance program; culture of ethics; environmental and societal impact; corporate governance; and leadership and reputation.

Pacific Life today announced a new collaboration with BNY Mellon’s Pershing to make its fee-only annuities available to registered investment advisors (RIAs) and their fee-only advisors while providing a streamlined portfolio-management experience. Products included are Pacific Advisory Variable Annuity, Pacific Odyssey®, Pacific Index Advisory®, and Pacific Harbor—all designed to help RIAs meet a variety of clients’ needs.

Pacific Life has announced the launch of its Advisory Solutions Desk, a concierge experience for Registered Investment Advisors (RIAs).

Pacific Life announced today that Maria Teresa Tejada, senior advisor in the Financial Services practice at Bain & Company, has been appointed to the board of Pacific Mutual Holding Company, the ultimate parent company of Pacific Life Insurance Company. Ms. Tejada will serve on the Audit and Investment and Finance Committees in addition to the board.

Pacific Life’s Life Insurance Division has been named a 2021 Best Customer Service Company in Newsweek’s annual “Best of Customer Service” awards. Based on an independent survey, the award recognizes communication quality, professional competence, range of services, customer focus, and accessibility of customer service.

Days after officially introducing the company’s Sustainable Bond Framework, Pacific Life announced today it has completed an inaugural $800 million Sustainability Bond offering through the Capital Markets Group of its Institutional Division.