A West Coast life insurer has come out with a new version of a flexible-premium variable life insurance product.

Pacific Life Insurance Company, Newport Beach, Calif., says the new Pacific Select Exec III policy offers a choice of 44 investment options and 5 asset-allocation options.

Optional riders include a short-term no-lapse guarantee rider, an overloan protection rider, a minimum earnings benefit rider and a guarantee minimum distribution rider, Pacific Life says.