The primary purpose of life insurance is to provide death benefit protection in the event of the insured’s death.
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.
¹For federal income tax purposes, life insurance death benefits generally pay income tax-free to beneficiaries pursuant to IRC Sec. 101(a)(1). In certain situations, however, life insurance death benefits may be partially or wholly taxable. Situations include, but are not limited to: the transfer of a life insurance policy for valuable consideration unless the transfer qualifies for an exception under IRC Sec. 101(a)(2)(i.e. the transfer-for-value rule); arrangements that lack an insurable interest based on state law; and an employer-owned policy unless the policy qualifies for an exception under IRC Sec. 101(j).
²The issuance of the policy may depend upon answers to the health questions contained in the application.
³Riders will likely incur additional charges and are subject to availability, restrictions, and limitations. When considering a rider, request a policy quote to see the impact on the policy’s values. Accelerated Death Benefit Rider (Form #R16LYTIR), Children’s Level Term Insurance Rider (Form #R18LYCT), and Waiver of Premium Rider (Form #R16LYPW).
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 life insurance company with regard to such guarantees as these guarantees are not backed by the broker/dealer, insurance agency, 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 life insurance company. | 
