Pacific Life Insurance Company is rolling out a variable universal life policy that includes a 1-year indexed fixed account option.
The Pacific Select Exec V VUL policy offers three types of investment options–variable, fixed and indexed–for potential cash value growth, according to Pacific Life, Newport Beach, Calif.
The option credits interest based in part on the performance of the S&P 500, excluding dividends, the company says. Growth is capped at 11% (3% guaranteed), and the option includes a 1% floor to help protect the policy’s cash value against downturns, the company says.
Product and rider guarantees are backed by the financial strength and claims paying ability of the issuing company and do not protect the value of the variable investment options.
In New York, the policy is issued by Pacific Life & Annuity Company.