Pacific Life Insurance Company has added the PL Promise guaranteed universal life insurance policy.
The policy is a no-lapse policy.
(Related: Pacific Life Turns 150)
Pacific Life is based in Newport Beach, California, but a team based in Lynchburg, Virginia, is in charge of the product launch.
Pacific Life acquired the life team in Virginia from Genworth Financial Inc. in late 2017.
Pacific Life says it is aiming the new product at people in households with an annual income of $50,000 to $250,000.