* Pacific Life Insurance Company's Pacific PremierCare (Policy Form #P11PPC or ICC11 P11PPC - policy form number based on state in which policy is issued) is a flexible premium adjustable life insurance policy with long-term care insurance payable through reimbursements. Pacific PremierCare is not a Partnership Qualified product. For more information on Partnership Qualified products, please contact your state department of insurance. This policy has certain exclusions and limitations. Pacific PremierCare is intended to provide federally tax-qualified long-term care insurance as defined in IRC Section 7702B(b). If there are any questions concerning the tax implications of this product, an attorney or qualified tax advisor should be consulted.
(1) Only one premium is necessary to fund Pacific PremierCare. While this product allows additional premiums, they are not required and do not provide additional Long-Term Care Benefits, a greater Return of Premium Benefit, or increased Death Proceeds (unless a subsequent increase in the policy's cash value requires a death benefit increase to satisfy IRC Section 7702 requirements). Once a sufficient premium has been paid, the long-term care coverage will continue as long as the insured lives; or until the policy is surrendered at the owner's request; or until the maximum long-term care benefits have been paid; or until policy lapse. Policy charges (cost of insurance and coverage charges) are deducted from the policy's accumulated value on a monthly basis. Policy lapse will only occur where the policy's cash value less policy debt is not sufficient to cover monthly policy charges. Prior to lapse, the policy provides 61 days to pay premium sufficient to keep the policy in force.
(2) Policy benefits are reduced by any policy loans, withdrawals or Terminal Illness Benefit paid under the policy. Death Proceeds and Return of Premium Benefit will be reduced when long-term care benefits are taken.
(3) At policy application, policyowners may choose no Inflation Benefit Option for a level monthly maximum long-term care benefit, or 5% Compound, 5% Simple, or 3% Simple Interest Inflation Benefit Option that will increase future long-term care benefits on each policy anniversary.
(4) Reimbursements for covered long-term care expenses are subject to an elimination period and are provided by the Accelerated Benefit Rider (ABR) for Long Term Care (Form #R11ABR or ICC11 R11ABR) and the Extended Benefit Rider (EBR) for Long Term Care (Form #R11EBR or ICC11 R11EBR). (Rider form numbers vary based on state in which policy is issued.) The amount and duration of the maximum long-term care benefits will be based on the benefit options elected at time of application. Coverage elected for longer than two years is only provided through a combination of ABR and EBR. Actual amount and duration of long-term care benefits will vary based on the use of policy benefits and features. Covered long-term care expenses will be reimbursed until the total long-term care benefits are exhausted, which may vary from the elected duration. Premiums for long-term care benefits will vary depending upon the benefit options elected. Charges for ABR, EBR, and any Inflation Benefit Option are included in the initial premium payment.
(5) The Couples Discount is not available in Montana. Individuals in Montana may be eligible for a Household Discount based on their existing living arrangements..
(6) Pacific Life Insurance Company provides Care Coordination Services at no additional charge. Policyowners may choose to use Care Coordination Services outside of Pacific Life Insurance Company's, but benefits paid out for such services will reduce the total long-term care benefits and are subject to the maximum monthly benefit.
Pacific Life Insurance Company is licensed to issue insurance products in all states except New York. Product availability and features may vary by state. Insurance products and their guarantees, including optional benefits and any fixed subaccount 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 this product is purchased. Neither these entities nor their representatives make any representation or assurance regarding the claims-paying ability of the life insurance company. Pacific Life's Home Office is located in Newport Beach, CA.
(7) Source: 2011 Sourcebook for Long-Term care Insurance, American Association for Long-Term Care Insurance.
Exclusions, Exceptions, and Limitations: We will not pay benefits for any room and board, care, treatment, services, equipment, or other items for care or services: 1)provided by the Insured's Immediate Family unless he or she is a regular employee of an organization which is providing the treatment, service, or care; and the organization receives the payment for the treatment, service or care; 2)for which no charge is normally made in the absence of insurance; 3)provided outside the United States of America, except as described in the International Benefit; 4)that result from an attempt at suicide (while sane or insane) or an intentionally self-inflicted injury; 5)provided in a governmental facility(unless otherwise required by law); 6)for which benefits are available under Medicare or other governmental program(except Medicaid), any state or federal workers' compensation, employer's liability or occupational disease law, or any motor vehicle no-fault law. No benefits will be paid for services received while the Accelerated Benefit Rider (ABR) for Long Term Care and the Extended Benefit Rider (EBR) for Long Term Care are not in force. Solicitation of business is not allowed prior to product availability and approval in the state in which the solicitation occurs.
Pacific PremierCare is subject to underwriting and approval of the application. No medical exam is required, but a Medical Information Bureau (MIB) and prescription report will be ordered and a Personal History Interview and Cognitive Assessment will be performed via telephone as part of the underwriting process.
FOR BROKER DEALER AND LIFE INSURANCE PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.
