A Life Insurance Policy Illustration Prepared For:

Transcription

1 Date Prepared: April 26, 2017 Pacific Select VUL - Accumulation A Policy A Life Insurance Policy Illustration Prepared For: Male 40 Life Insurance Producer: Pacific Life Advisor Pacific Life 45 Enterprise Aliso Viejo, CA Pacific Life Insurance Company has authorized the above-referenced life insurance producer to act on its behalf solely for purposes of soliciting and accepting Pacific Life Insurance Company insurance applications. Pacific Life is a product provider. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products. Only a life insurance producer who is also a fiduciary is required to advise if the product purchase and any subsequent action taken with regard to the product are in their client's best interest. Policy Form # ICC15 P15PVA or P15PVA based on state of policy issue. For presentation in Colorado Pacific Life Insurance Company, Mailing Address, 45 Enterprise, Aliso Viejo, CA V-2A

2 Proposed Insured: Male 40 Male, Age 40 Preferred nsmoker Pacific Select VUL - Accumulation - GPT - Life Insurance Illustration Life Insurance Producer: Pacific Life Advisor Pacific Life 45 Enterprise Aliso Viejo, CA Summary of this Illustration - Pacific Select VUL - Accumulation Death Benefit Initial Basic Coverage $533,509 Initial Total Face Amount $533,509 Death Benefit Option A - (Level) Premiums Premiums Annual First Year Premium $20,000 Total First Year Premium $20,000 Scheduled Years to Pay 5 years Cumulative Premiums $100,000 Distributions Annualized Initial Distribution $20,000 Illustrated Years of Distributions 10 Cumulative Distributions $200,200 Initial Illustrated Premium Allocation & Transfers & Earnings Rates Variable Options % at 6.00% For Broker/Dealer Use Only - t For Use With The Public TP: 8099 Page: 1 of 1

3 Proposed Insured: Male 40 Male, Age 40 Preferred nsmoker Death Benefit Option = A - Level Initial Total Face Amount = $533,509 Premium Frequency = Annual Life Insurance Producer: Pacific Life Advisor Pacific Life 45 Enterprise Aliso Viejo, CA n-guaranteed Policy Values: Ledger Illustration The purpose of this illustration is to show how the performance of the investment options could affect the policy Accumulated Value and Death Benefit. The information is hypothetical and may not be used to predict investment results. This illustration assumes non-guaranteed policy charges, credits and non-guaranteed earnings rates. Hypothetical Values 6.00% (5.00% Net) Cash Net Net Cash Surrender Death Premium Policy Net Accumulated Surrender Death Value Benefit Yr Age Outlay* Withdrawal** Loan** Outlay Value Value Benefit IRR IRR (1) -(2) -(3) =(4) (5) (6) (7) (8) (9) , ,000 17,325 10, , % % , ,000 35,461 28, , % % , ,000 54,451 48, , % % , ,000 74,357 68, , % 92.90% , ,000 95,245 89, , % 62.21% ,394 91, , % 46.67% ,633 94, , % 37.08% ,979 97, , % 30.65% ,444 99, , % 26.06% , , , % 22.65% Total 100, , , , , % 20.01% , , , % 17.91% , , , % 6.87% , , , % 6.32% , , , % 5.85% , , , % 5.44% , , , % 5.21% , , , % 5.01% , , , % 4.83% , , , % 4.67% Total 100, ,000 * A zero in the Premium Outlay column does not mean the policy is paid up. Charges will continue to be deducted from the Accumulated Value as long as the policy remains in-force. The actual premium amounts and number of years of premium payments that are needed to maintain the illustrated non-guaranteed policy benefits will depend on the policy's non-guaranteed elements and on your actual use of the policy's options. Please Refer To The Summary Pages For A Full Explanation Of Fees And Expenses. This Illustration Is t Valid Unless Presented With The Summary Pages TP: 8099 Page: 1 of 19

4 n-guaranteed Policy Values: Ledger Illustration Hypothetical Values 6.00% (5.00% Net) Cash Net Net Cash Surrender Death Premium Policy Net Accumulated Surrender Death Value Benefit Yr Age Outlay* Withdrawal** Loan** Outlay Value Value Benefit IRR IRR (1) -(2) -(3) =(4) (5) (6) (7) (8) (9) , , , % 4.51% , , , % 4.44% , , , % 4.38% , , , % 4.32% , , , % 4.28% , , , , , % 4.18% , , , , , % 4.13% , , , , , % 4.09% , , , , , % 4.06% , , , , , % 4.03% Total 100, , ,000-20, , , , % 4.03% ,000-20, , , , % 4.01% ,000-20, , , , % 3.99% ,000-20, , , , % 3.96% ,000-20,000 94,394 94, , % 3.93% ,931 98, , % 3.90% , , , % 3.91% , , , % 3.91% , , , % 3.92% , , , % 3.93% Total 100, , , , , , , % 3.94% , , , % 3.94% , , , % 3.95% , , , % 3.96% , , , % 3.96% , , , % 3.97% , , , % 3.97% , , , % 3.98% , , , % 3.98% , , , % 3.99% Total 100, , , ,200 * A zero in the Premium Outlay column does not mean the policy is paid up. Charges will continue to be deducted from the Accumulated Value as long as the policy remains in-force. The actual premium amounts and number of years of premium payments that are needed to maintain the illustrated non-guaranteed policy benefits will depend on the policy's non-guaranteed elements and on your actual use of the policy's options. Please Refer To The Summary Pages For A Full Explanation Of Fees And Expenses. This Illustration Is t Valid Unless Presented With The Summary Pages TP: 8099 Page: 2 of 19

5 n-guaranteed Policy Values: Ledger Illustration Hypothetical Values 6.00% (5.00% Net) Cash Net Net Cash Surrender Death Premium Policy Net Accumulated Surrender Death Value Benefit Yr Age Outlay* Withdrawal** Loan** Outlay Value Value Benefit IRR IRR (1) -(2) -(3) =(4) (5) (6) (7) (8) (9) , , , % 3.99% , , , % 3.98% , , , % 3.97% , , , % 3.96% , , , % 3.95% , , , % 3.96% , , , % 3.97% , , , % 3.97% , , , % 3.98% , , , % 3.99% Total 100, , , , , , , % 4.00% , , , % 4.00% , , , % 4.01% , , , % 4.02% , , , % 4.03% , , , % 4.04% , , , % 4.04% , , , % 4.05% , , , % 4.06% , , , % 4.07% Total 100, , , , , , , % 4.07% , , , % 4.08% , , , % 4.09% , , , % 4.09% , , , % 4.10% , , , % 4.11% , , , % 4.12% , , , % 4.12% , , , % 4.13% , , , % 4.14% Total 100, , , , , , , % 4.14% Total 100, , , ,200 * A zero in the Premium Outlay column does not mean the policy is paid up. Charges will continue to be deducted from the Accumulated Value as long as the policy remains in-force. The actual premium amounts and number of years of premium payments that are needed to maintain the illustrated non-guaranteed policy benefits will depend on the policy's non-guaranteed elements and on your actual use of the policy's options. Please Refer To The Summary Pages For A Full Explanation Of Fees And Expenses. This Illustration Is t Valid Unless Presented With The Summary Pages TP: 8099 Page: 3 of 19

6 n-guaranteed Policy Values: Ledger Illustration The Allocations and Hypothetical Earnings Rates below are for policy year 1. For any illustrated changes to the Allocations and Hypothetical Earnings Rates see the Narrative Summary. Allocation Hypothetical Earnings Rates Variable Options 100% 6.00% (5.00% Net) All values except premiums, Policy Loans, loan interest and Withdrawals are values at the end of the policy year. The "Net Cash Surrender Value" column is equal to the Accumulated Value less any Policy Debt and minus the lesser of the maximum surrender charge or 90% of the Net Accumulated Value, which is not guaranteed. The "Death Benefit" column is the policy Death Benefit less any Policy Debt. ** Assumes that Policy Loans and Withdrawals are requested and distributed in 12 equal monthly payments, in amounts that vary from year to year, beginning on the policy anniversary of the year in which Policy Loans and Withdrawals begin. This policy illustrates the Internal Rate of Return (IRR) on the Cash Surrender Value and Death Benefit. The IRR is a measure of the hypothetical rate of return on the premiums paid minus Withdrawals and/or Policy Loans, versus the policy values (Cash Surrender Value or Death Benefit) in each policy year. * A zero in the Premium Outlay column does not mean the policy is paid up. Charges will continue to be deducted from the Accumulated Value as long as the policy remains in-force. The actual premium amounts and number of years of premium payments that are needed to maintain the illustrated non-guaranteed policy benefits will depend on the policy's non-guaranteed elements and on your actual use of the policy's options. Please Refer To The Summary Pages For A Full Explanation Of Fees And Expenses. This Illustration Is t Valid Unless Presented With The Summary Pages TP: 8099 Page: 4 of 19

7 Summary Page: Current Policy Charges Pacific Select VUL - Accumulation - GPT - Life Insurance Illustration Scenario 1 Scenario 2 Scenario 3 Policy Net Cash Net Cash Net Cash Premium Loans & Accumulated Surrender Death Accumulated Surrender Death Accumulated Surrender Death Yr Outlay* Withdrawals Value Value Benefit Value Value Benefit Value Value Benefit 1 20, ,269 9, ,509 17,325 10, ,509 17,325 10, , , ,321 25, ,509 35,461 28, ,509 35,461 28, , , ,159 41, ,509 54,451 48, ,509 54,451 48, , , ,804 57, ,509 74,357 68, ,509 74,357 68, , , ,276 73, ,509 95,245 89, ,509 95,245 89, , ,916 70, ,509 97,394 91, ,509 97,394 91, , ,559 67, ,509 99,633 94, ,509 99,633 94, , ,219 64, , ,979 97, , ,979 97, , ,901 61, , ,444 99, , ,444 99, , ,605 58, , , , , , , , ,122 53, , , , , , , , ,326 50, , , , , , , , ,502 40, , , , , , , , ,200 ## ## ## 163, , , , , , , ,496 94, , ,496 94, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,080, , ,359 1,080, , ,359 The Allocations and Scenarios below are for policy year 1. For any illustrated changes to the Allocations and Hypothetical Earnings Rates see the Narrative Summary. Allocation Scenario 1 Variable Options 100% 0.00% (-1.00% Net) Scenario 2 Scenario % (5.00% Net) 6.00% (5.00% Net) ## Additional premiums will be required to maintain the requested benefits. Generally, distributions can only be taken on a policy if adequate Cash Surrender Value is available. The "Policy Loans and Withdrawals" column does not include any Policy Loans taken to pay loan interest. The policy values under the Current Policy Charges heading reflect current policy charges, current cost of insurance rates, current coverage charges and the hypothetical gross earnings rate assumption described in the Investment Options section. Current policy charges and cost of insurance rates are subject to change. Policy values will vary from those illustrated if actual rates differ from those assumed. Current cost of insurance rates are not dependent upon future improvements in underlying mortality. * A zero in the Premium Outlay column does not mean the policy is paid up. Charges will continue to be deducted from the Accumulated Value as long as the policy remains in-force. The actual premium amounts and number of years of premium payments that are needed to maintain the illustrated non-guaranteed policy benefits will depend on the policy's non-guaranteed elements and on your actual use of the policy's options. Summary Page Page: 5 of 19

8 Summary Page: Guaranteed Policy Charges Pacific Select VUL - Accumulation - GPT - Life Insurance Illustration Scenario 1 Scenario 2 Scenario 3 Policy Net Cash Net Cash Net Cash Premium Loans & Accumulated Surrender Death Accumulated Surrender Death Accumulated Surrender Death Yr Outlay* Withdrawals Value Value Benefit Value Value Benefit Value Value Benefit 1 20, ,390 8, ,509 16,413 9, ,509 16,413 9, , , ,581 23, ,509 33,603 26, ,509 33,603 26, , , ,565 39, ,509 51,600 45, ,509 51,600 45, , , ,340 54, ,509 70,445 64, ,509 70,445 64, , , ,889 69, ,509 90,164 84, ,509 90,164 84, , ,601 65, ,509 91,067 85, ,509 91,067 85, , ,229 60, ,509 91,903 86, ,509 91,903 86, , ,761 56, ,509 92,660 87, ,509 92,660 87, , ,249 52, ,509 93,386 88, ,509 93,386 88, , ,676 48, ,509 94,065 89, ,509 94,065 89, , ,678 30, , ,984 98, , ,984 98, , ,113 13, , , , , , , , ## ## ## 126, , , , , , ,200 28,671 28, ,334 28,671 28, , ,000 ## ## ## ## ## ## The Allocations and Hypothetical Earnings Rates below are for policy year 1. For any illustrated changes to the Allocations and Hypothetical Earnings Rates see the Narrative Summary. Allocation Scenario 1 Scenario 2 Scenario 3 Variable Options 100% 0.00% (-1.00% Net) 6.00% (5.00% Net) 6.00% (5.00% Net) ## Additional premiums will be required to maintain the requested benefits. Generally, distributions can only be taken on a policy if adequate Cash Surrender Value is available. The "Policy Loans and Withdrawals" column does not include any Policy Loans taken to pay loan interest. The policy values on this page assume maximum cost of insurance rates and no persistency credits. * A zero in the Premium Outlay column does not mean the policy is paid up. Charges will continue to be deducted from the Accumulated Value as long as the policy remains in-force. The actual premium amounts and number of years of premium payments that are needed to maintain the illustrated non-guaranteed policy benefits will depend on the policy's non-guaranteed elements and on your actual use of the policy's options. Summary Page Page: 6 of 19

9 Proposed Insured: Male 40 Male, Age 40 Preferred nsmoker Death Benefit Option = A - Level Initial Total Face Amount = $533,509 Premium Frequency = Annual The Life Insurance Illustration: Narrative Summary Pacific Select VUL - Accumulation - GPT - Life Insurance Illustration Life Insurance Producer: Pacific Life Advisor Pacific Life 45 Enterprise Aliso Viejo, CA Thank you for considering Pacific Life Insurance Company. We look forward to helping you meet your goals throughout your lifetime. The Narrative Summary introduces you to the policy options you have chosen to illustrate. Your life insurance producer can provide you with more information about policy options that have not been illustrated, as well as additional illustrations with different assumptions for Pacific Select VUL - Accumulation (Form Series ICC15 P15PVA and ICC15 P15PVA SP or P15PVA and P15PVA SP based on state of policy issue). Requesting illustrations with different assumptions may help you better understand how the policy charges and non-guaranteed elements, like interest crediting rates, will affect the policy. Please choose your illustrated rate carefully. Once your policy is in force, you should consider a periodic review of your policy with your life insurance producer. Important Information This is an illustration only. An illustration is not intended to predict actual performance. Interest rates, dividends, or values that are set forth in the illustration are not guaranteed, except for those items clearly labeled as guaranteed. Underwriting Class About This Illustration How The Policy Works The assumed risk classification has a material impact on any illustration. Your actual risk classification will ultimately depend on our evaluation of your insurability and may vary from what is shown on this illustration. If so, you will receive a revised illustration with your life insurance policy. This is a hypothetical illustration and not a contract, nor is it an offer to insure by Pacific Life Insurance Company. This illustration must be preceded or accompanied by the current prospectus for Pacific Select VUL - Accumulation and the current prospectuses for the underlying funds. Refer to the Pacific Select VUL - Accumulation prospectus for detailed information about policy fees, charges and limitations. The illustration reflects how the performance of the investment options could affect the policy's Accumulated Value and Death Benefit. The hypothetical interest rates, gross earnings rates, and values shown are illustrative only and should not be deemed as a representation of past or future investment results. If the hypothetical earnings rate shown in this summary decreases and/or non-guaranteed mortality and expense charges increase, additional premium may be required for additional years, at a higher amount, and/or may have to be resumed. You may request illustrations with different assumptions to better understand how the policy charges affect the policy Accumulated Value and Death Benefit. Once the policy is in force, you should consider a periodic review of your coverage with your life insurance producer. This illustration assumes you, the applicant, will also be the owner. Pacific Select VUL - Accumulation is a variable universal life insurance product. As a variable universal life policy it has an adjustable Death Benefit, flexible premiums and Variable Investment Options. Form number based on state of policy issue. Summary Page The Death Benefit is paid to the beneficiaries at the insured's death. Additional benefits may be provided through policy riders. The policy has no maturity date. The monthly administrative costs, cost of insurance, and coverage charge continue through Age 120. Flexible premiums allow you to choose the amount and frequency of your premium payments, within limits. When you pay a premium, we subtract a premium load and then the net premium is allocated into the investment options of your choice and added to the Accumulated Value. Fees and charges are deducted and interest credits are added to your policy's Accumulated Value each month. Variable Universal Life Insurance generally requires additional premium payments after the initial premium. If either no premiums are paid, or subsequent premiums are insufficient to continue coverage, it is possible that the coverage will expire. In the event of surrender, your policy's Accumulated Value may be reduced by a surrender charge. You may take distributions of the Cash Surrender Value in the form of Policy Loans or Withdrawals subject to certain limitations defined in the policy. Page: 7 of 19

10 Assumptions About n-guaranteed Elements Some policy elements (known as non-guaranteed or current elements) may be changed by Pacific Life Insurance Company at any time and for any reason, but cannot be less favorable to you than the policy's guarantees. Some non-guaranteed elements are illustrated consistent with Pacific Life Insurance Company's current scale, and are labeled as "current." n-guaranteed elements are not guaranteed. Values shown in this illustration are based on non-guaranteed policy charges and non-guaranteed earnings rates. Over time, the policy's actual non-guaranteed elements, and perhaps your actual use of the policy's options, are likely to vary from the assumptions used in this illustration. Values shown are hypothetical and are for illustration use only. They may not be used to predict investment results. representation can be made by Pacific Life Insurance Company, the variable investment option, or the underlying funds that these hypothetical interest rates, gross earnings rates, can be achieved for any one year or sustained over any period of time. Death Benefit The amount that will be paid upon the insured's death will be based on the then current Total Face Amount, and the death benefit option you have elected, less the amount of any outstanding Policy Debt which is the sum of all outstanding policy loans plus accrued loan interest. Coverage Type The Total Face Amount is provided through the policy's Basic Coverage and may also be provided through Annual Renewable Term Rider (ARTR, Form Series ICC15 R15ART and ICC15 R15ART SP or R15ART and R15ART SP) and/or Scheduled Annual Renewable Term Rider (S-ARTR, Form Series ICC15 R15SRT and ICC15 R15SRT SP or R15SRT and R15SRT SP based on state of policy issue). Obtaining Death Benefits through a combination of Basic Coverage, ARTR, and/or S-ARTR Coverage may be more economical than obtaining the same Death Benefits through Basic Coverage alone, because ARTR and/or S-ARTR Coverage have different current and guaranteed charges than Basic Coverage. The charges are based on various factors including, but not limited to, Age, gender, risk classification, death benefit option and coverage amount. Illustrations with the same Total Face Amount and premiums but with different proportions of Basic, ARTR, and/or S-ARTR Coverage will have different policy values. When deciding whether or not to add ARTR and/or S-ARTR Coverage to your policy there are several factors to consider. These factors include, but are not limited to, the following: ARTR and/or S-ARTR Impacts on Accumulated Value n-guaranteed -The non-guaranteed cost of ARTR and/or S-ARTR Coverage is generally less than the non-guaranteed cost of Basic Coverage. Generally, under nonguaranteed assumptions, a higher proportion of ARTR and/or S-ARTR Coverage will result in higher Accumulated Values. Guaranteed - The guaranteed maximum cost of ARTR and/or S-ARTR Coverage is generally greater than the guaranteed maximum cost of Basic Coverage. Generally, under guaranteed assumptions, a higher proportion of ARTR and/or S-ARTR Coverage will result in lower Accumulated Values. Other Impacts Using Basic Coverage alone may result in higher life insurance producer compensation than when Basic Coverage is combined with ARTR and/or S-ARTR coverage. Your life insurance producer can provide you with additional illustrations showing the effects of different proportions of Basic, ARTR, and/or S-ARTR Coverage to help you make your decision. The following coverage amounts are illustrated: Illustrated Coverage Total Face Amount Coverage Type Face Amount Basic Coverage Start Year End Year $533, $199, $187, Face Amount Basic Coverage $533,509 Total Face Amount $533,509 Summary Page Page: 8 of 19

11 Death Benefit Option You may select one of the following death benefit options under your policy: A- Level: a benefit equal to the Total Face Amount, B- Increasing: a benefit equal to the sum of the Total Face Amount and the Accumulated Value, C- Return of Premium: a benefit equal to the sum of the Total Face Amount and the total amount of premiums paid (less any Withdrawals) Death Benefit Option Start Year End Year A - Level 1 81 Premium The Death Benefit column reflects 1) any future changes described in the previous tables; 2) the death benefit option and 3) any additional amounts necessary for the illustrated policy to qualify as life insurance under federal income tax laws. Your policy's flexible premiums allow you to choose the amount and frequency of your premium payments, within limits. generally requires additional premium payments after the initial premium. If either no premiums are paid, or subsequent premiums are insufficient to continue coverage, it is possible that the coverage will expire. Illustrated premium payments are made at the beginning of the frequency shown. Premium Frequency Annualized Premium Start Year End Year $20, Annual $20, $0.00 Annual $ Investment Options The annual premium required to guarantee the initial Total Face Amount for the duration of the contract exceeds the maximum allowable Guideline Level Premium of $8, Certain investment options may not be available through your life insurance producer. You can choose to allocate your net premium and/or Accumulated Value to a combination of Variable Investment Options, or the fixed account options and/or the indexed fixed account (Indexed Option). You determine your allocation percentages among the investment options, as long as the total allocation is 100%. Certain riders require allocation to an eligible investment option or options. Subject to limitations outlined in the prospectus, you can transfer among the investment options during the life of your policy without triggering income taxes. charge is currently imposed upon a transfer of Accumulated Value between investment options. However, Pacific Life Insurance Company may assess such a charge at any future date. This illustration is based on the following investment options which you have selected: Fixed Account Options Investment Option Allocation Variable Investment Option(s) 100% You can choose from two fixed account options: the Fixed Account and the Fixed LT Account. These fixed options provide a guaranteed minimum annual rate of interest. Summary Page The Fixed Account and the Fixed LT Account are part of Pacific Life Insurance Company's general account to which all or a portion of net premiums may be allocated for accumulation at a nonguaranteed interest rate declared by Pacific Life Insurance Company. The interest rate will never be less than the guaranteed rate of 2.00%. The Fixed Accumulated Value is the net premium allocated to the Fixed or Fixed LT Account less any allocation of the monthly deductions plus any credited interest. Fixed Account Fixed LT Account Current Declared Interest Rate 3.30% 4.10% Guaranteed Minimum Interest Rate 2.00% 2.00% You have selected to allocate 0% of your net premiums into the Fixed Account Options. If you change your allocations, we recommend that you request an illustration reflecting the new Page: 9 of 19

12 allocations. Indexed Fixed Account For more information on the fixed account options and policy charges, please consult the product prospectus. The Indexed Fixed Account is the portion of the policy's Accumulated Value that earns Indexed Credits based on the percentage change in value of the index, subject to any applicable Segment Guaranteed Interest Rate, Participation Rate, and the Growth Cap as disclosed in the contract provision. The Indexed Fixed Account(s) consist of Indexed Account Segments that are created each time a transfer is made to the Indexed Account. For more information, please consult the product prospectus. You have selected to allocate 0% of your net premiums into the Indexed Fixed Account(s). If you change your allocations, we recommend that you request an illustration reflecting the new allocations. The monthly charge for the Indexed Account is 0.025% (0.30% annually) of the Accumulated Value in the Indexed Account. Variable Investment Options Variable Investment Options is a separate account of Pacific Life Insurance Company or a subaccount of such a separate account, which is used only to support the variable Death Benefits and policy values of variable life insurance policies, and the assets of which are segregated from the Pacific Life Insurance Company's general account and our other separate accounts. For more information on the variable account option and policy changes, please consult the product prospectus. You have selected to allocate 100% of your net premiums (after deduction of a premium load) into the Variable Investment Options and take into account the corresponding expenses. If you change your allocations, we recommend that you request an illustration reflecting the new allocations. The gross annual rate assumption excludes brokerage expenses and any foreign taxes. A portfolio's foreign investment may be subject to foreign taxes. Foreign taxes from interest and dividend income are treated as a deduction from relevant income for accounting purposes rather than an expense. The net earnings rate reflects deductions for the management fees and operating expenses based on the investment options you have chosen. The expenses for the underlying portfolios reflect management fees and net operating expenses incurred by the portfolios as reported in the annual statements for the periods ending December 31, 2015 and estimated expenses of certain new portfolios. These expenses are subject to change and may vary. The net operating expenses include any management reimbursement, any offset for custodian credits and any fee recaptures, and exclude any foreign taxes. The average aggregate annualized expenses of the underlying portfolios shown below is at an annual rate of 0.61% of average daily net assets for management fees and 0.39% for operating expenses, which amounts to a total of 1.00%. The arithmetic average aggregate annualized expenses for the underlying portfolios reflect an average management fee at an annual rate of 0.53% of the average daily net assets of the portfolios. They also reflect average aggregate net operating expenses at an annual rate of 0.39% of the average daily net assets of the portfolios. The total arithmetic average aggregate net annualized expense is 0.92%. Different Variable Investment Option elections will result in different management fees and other expenses. Management fees currently range from 0.00% to 1.25%; operating expenses currently range from 0.05% to 1.15%; combined management fees and other portfolio expenses currently range from 0.28% to 2.15%, after waivers and/or expense reimbursements. Please see the corresponding fund prospectus for detailed information on each portfolio's management fees and other expenses. Your selected premium allocation percentages and the corresponding management fees and expenses are shown in the table that follows. Summary Page Page: 10 of 19

13 Hypothetical Illustrated Variable Investment Earnings Rates Pacific Select VUL - Accumulation - GPT - Life Insurance Illustration Premium Management Operating Portfolio Allocation Fee Expenses Unaffiliated Funds BlackRock Basic Value V.I. III 50.00% 0.60% 0.41% BlackRock Global Allocation V.I. III 50.00% 0.62% 0.37% American Century Investment Services, Inc., BlackRock Investments, LLC, Fidelity Distributors Corporation, Franklin Templeton Distributors, Inc., Invesco Distributors, Inc., Janus Distributors LLC, Lazard Asset Management Securities LLC, Legg Mason Investor Services, LLC, Lord Abbett Distributor LLC, M Financial Group, M Holdings Securities, Inc., MBSC Securities Corporation, MFS Fund Distributors, Inc., Neuberger Berman Management LLC, OppenheimerFunds Distributor, Inc., PIMCO Investments LLC, Royce Fund Services, Inc., State Street Global Markets, LLC, T. Rowe Price Investment Services, Inc., and Van Eck Securities Corporation and the products each distributes, are not affiliated with Pacific Life Insurance Company and Pacific Select Distributors, LLC. All American Funds trademarks referenced in this publication are registered trademarks owned by American Funds Distributor, Inc. or an affiliated company. BlackRock and ishares are registered trademark of BlackRock, Inc. or its subsidiaries in the United States and elsewhere. All other trademarks are those of their respective owners. Fidelity and Contrafund are registered trademarks of FMR LLC. Janus is a registered trademark of Janus International Holding LLC. Main Street is a registered trademark of OppenheimerFunds, Inc. MFS is a registered trademark of Massachusetts Financial Services Company. Although some funds may have names or investment goals/objectives that resemble retail mutual funds managed by the fund manager, these funds may not have the same underlying holdings or performance as the retail mutual funds. Variable Investment Option(s) Hypothetical Earnings Rate Gross Rate Net Rate Start Year End Year 6.00% 5.00% 1 81 After deduction of the management fees and other operating expenses, hypothetical gross annual earnings rate of 0% and 6% correspond to approximate net annual earnings rates of -1.00% and 5.00% respectively. Accumulated Value Accumulated Value is the net premiums (premium minus premium load) less cost of insurance and other charges, accumulated at interest. The Accumulated Value is subject to several monthly charges: cost of insurance charges, administrative charge, coverage charges, deductions for optional insurance benefits, and any rider charges if present. We may profit from any policy charge, including those listed above, and may use those profits for any lawful purpose, such as the payment of distribution and administrative expenses. All charges and Policy Loans and Withdrawals will be deducted from the Accumulated Value. If the total Net Accumulated Value is not sufficient to cover the monthly charges, you will need to pay additional premium at that time to keep the policy in force. Persistency We may credit your Accumulated Value with an annual persistency credit beginning on the 6th policy Credits anniversary. Your policy's persistency credit is not guaranteed. Summary Page Page: 11 of 19

14 AV Ratio Upon the later of the insured's age 100 or on coverage year 26, the current COI charges for Basic and ARTR coverage layers may be reduced when the ratio between the Accumulated Value and Death Benefit is equal to or exceeds the Threshold Percentage. The AV Ratio is calculated at the beginning of each policy month before any monthly deductions. The current maximum Threshold Percentage is 75%, however we reserve the right to reduce the Threshold Percentage. AV Ratio = Accumulated Value Death Benefit If these qualifications are met, the AV Ratio COI charge will be applied. This charge may be less than, but will not be greater than the current COI charge. If the AV Ratio is less than the Threshold Percentage, then the current COI charge will be used. Cash Surrender Value Illustrated Riders The Cash Surrender Value is the Accumulated Value minus the surrender charge. The Net Cash Surrender Value is the amount that is available upon surrender and the amount available for Policy Loans and Withdrawals. The maximum surrender charge is determined by the insured's Age and risk classification, the death benefit option selected, the initial Basic Coverage face amount, and any Basic Coverage face amount increases. The surrender charge will not exceed the lesser of the Maximum Surrender Charge or 90% of the Net Accumulated Value. The surrender charge reaches zero 180 policy months after the later of the issue date or the last increase in Basic Coverage face amount. For more detailed information about the surrender charge, please see the current prospectus. The benefits and costs of the riders listed below are reflected in this illustration. A brief description of the requested riders follows. Unless otherwise noted, costs are deducted monthly from the Accumulated Value. Premier Living Provides an accelerated payment of the Death Benefit if you have a chronic illness. Each time you Benefits Rider receive a benefit payment, the Net Death Benefit and the Net Cash Surrender Value will be reduced based on the amount of the benefit payment. If a policy loan is outstanding at the time of a benefit payment, a portion of the benefit payment will go towards repaying the loan, in effect reducing the amount you owe and receive. Accelerating the entire death benefit will terminate the policy. The benefit payment is subject to a maximum, which will vary each time you receive a benefit payment. You can choose to receive an amount less than the maximum benefit payment. For each benefit requested we must receive written certification that you have a chronic illness. Chronic illness means that the insured is certified annually in writing by a Licensed Health Care Practitioner as unable to perform at least two Activities of Daily Living without substantial assistance from another individual due to a loss of functional capacity and the condition is expected to be permanent; or requiring substantial supervision to protect the individual from threats to health and safety due to severe cognitive impairment and the condition is expected to be permanent. Summary Page The chronic illness rider may be attached to only one policy per insured. If you have one or more existing Pacific Life Insurance Company policies with a chronic illness rider, you may choose to either: 1. terminate the chronic illness rider on your existing policies, and obtain a new chronic illness rider with a newly-issued policy, if you qualify; or 2. maintain the chronic illness rider on your existing policies, and accept any applied for life insurance, if issued, without the chronic illness rider. You should not terminate any existing Pacific Life Insurance Company chronic illness rider until the new application with a chronic illness rider has been approved by Pacific Life Insurance Company. If an insured's chronic illness has generated benefits under any existing Pacific Life Insurance Company policy, that insured does not qualify for a new chronic illness rider. Please understand that chronic illness benefits may be higher or lower based upon the policy to which it is attached. Request sample illustrations from your life insurance producer to help determine the policy configuration is appropriate for you. Benefits paid by accelerating the policy's death benefit may or may not qualify for favorable tax treatment under Section 101(g) of the Internal Revenue Code of Tax treatment of an accelerated death benefit may depend on factors such as the amount of benefits in relation to certain IRS limitations (referred to as "per diem" limitations), the amount of qualified expenses incurred or if similar benefits are being received under other contracts. Receipt of accelerated death benefits may Page: 12 of 19

15 Summary Page Pacific Select VUL - Accumulation - GPT - Life Insurance Illustration affect eligibility for public assistance programs such as Medicaid. When benefits are received from multiple policies providing long-term care or chronic illness benefits for a given insured, including policies with different owners, all of those benefits must be aggregated to determine their taxability. Tax laws relating to accelerated death benefits are complex. Pacific Life Insurance Company cannot determine whether the benefits are taxable. Clients are advised to consult with qualified and independent legal and tax advisors for more information. The table below shows the non-guaranteed net maximum annual benefit payment on the following eligible insured(s), if they qualify. Benefit payments are subject to a maximum, which will vary each time you receive a benefit. Benefits are not guaranteed and actual benefit payments may be less than illustrated. Male 40 Age Net Maximum Annual Payment 75 $24, $30,314 The 2017 IRS per diem limitation is $ and may change annually. There is no up-front cost or monthly rider charge. The cost of exercising the rider is that the death benefit is reduced by an amount greater than the rider benefit payment itself to reflect the early payment of the death benefit. Rider benefit payments will reduce the death benefit, cash surrender value, and any policy debt. Additionally, rider benefit payments may adversely affect the benefits under other riders. (Form Series ICC12 R12CIC or R12CIC, based on state of policy issue) Terminal Illness Rider Gives you access to a portion of the policy's Basic, ARTR, or S-ARTR Coverage face amount(s) if the insured has been diagnosed by a licensed physician as terminally ill, resulting in a life expectancy of 12 months or less. We will pay the terminal illness benefit proceeds only once per policy. Benefits paid by accelerating the policy's death benefit may or may not qualify for favorable tax treatment under Section 101(g) of the Internal Revenue Code of Tax treatment of an accelerated death benefit due to terminal illness depends on the life expectancy of the insured at the time benefits are accelerated. Receipt of accelerated death benefits may affect eligibility for public assistance programs such as Medicaid. Tax laws relating to accelerated death benefits are complex. Pacific Life Insurance Company cannot determine whether the benefits are taxable. Clients are advised to consult with qualified and independent legal and tax advisors for more information. There is no up-front cost or monthly rider charge. The cost of exercising the rider is that the death benefit is reduced by an amount greater than the rider benefit payment itself to reflect the early payment of the death benefit. Rider benefit payments will reduce the death benefit, cash surrender value, and any policy debt. Additionally, rider benefit payments may adversely affect the benefits under other riders. The rider will be added to your policy, unless you specifically decline it in the application. (Form Series ICC12 R12TIC or R12TIC, based on state of policy issue) Short-Term While the Short-Term -Lapse Guarantee Rider (NLG) is in effect, your death benefit is -Lapse guaranteed, regardless of future changes to interest rates or policy charges. In order for the rider to Guarantee be in effect, a minimum premium must be paid. Rider (NLG) Illustrated -Lapse Guarantee Duration: 20 policy years Maximum -Lapse Guarantee Duration: 20 policy years Initial NLG Premiums Annual Semi-Annual Quarterly Monthly $2, $1, $ $ Your NLG premium requirements will be higher if you take distributions or increase the benefits. Any benefit changes illustrated after the first policy year may result in a corresponding change in the NLG premium and are not reflected in the previous table. If the policy is being maintained solely by the NLG premium you will be foregoing the advantage of building Accumulated Value. Page: 13 of 19

16 Other Riders Pacific Select VUL - Accumulation - GPT - Life Insurance Illustration Paying only the NLG premium will guarantee the death benefit for the Guaranteed Period, but will not guarantee cash value accumulation. If you discontinue paying the NLG premiums, the no-lapse feature will terminate before the guaranteed duration. Additional premiums will be required to continue the policy beyond the guaranteed duration. If, during the guarantee period, you have not paid the minimum NLG premium, it may be reinstated by paying the catch-up amount. The catch-up amount will be quoted upon request. If the Net Accumulated Value becomes less than or equal to zero and if the NLG is in effect, the uncollected monthly deductions are accumulated with interest at an annual rate of 4%. To keep your policy active at the end of the NLG period, you will need to make a net premium payment at least equal to the uncollected Monthly Deductions plus accrued interest and you will need to continue to make future premiums that will be significantly higher than the NLG premium you were paying. This rider is provided at no additional cost. (Form Series ICC12 R12SNL or R12SNL based on state of policy issue.) Conversion Anytime during the 8th policy year, while your policy is in force, you may convert this policy to any Rider survivor life cash value life insurance policy that is available for conversions. The Total Face Amount of the new policy will equal the current Basic Coverage of your current policy. All applicable surrender charges on the surrendered policy will be waived, and no evidence of insurability will be required for the conversion. This conversion right is subject to state availability. This rider is provided at no additional cost. (Form Series ICC13 R13CON or R13CON based on state of policy issue.) The following riders have not been illustrated. See the individual rider descriptions for more information. Overloan If exercised and as long as the rider remains in-force, the policy will not lapse even if the Policy Debt Protection 3 exceeds the Accumulated Value. The rider can be exercised only if all of the conditions of the rider Rider are met. You may not be able to exercise this rider as illustrated if your actual use of the policy's options, actual interest rate, or policy charges, differs from those assumed. Upon exercising this rider, a one-time rider exercise charge will be assessed. This amount will vary depending on the actual Accumulated Value at the time of exercising this rider. Certain transactions and policy changes after exercising the rider will terminate the rider. If this rider terminates other than by the death of the insured, any amount by which the Policy Debt exceeds the Accumulated Value is due and payable. This rider is provided at no additional cost until the rider is exercised. The potential tax consequences of the Overloan Protection 3 Rider have not specifically been ruled on by the IRS or the courts. Consult your tax adviser. (Form Series ICC15 R15OLP and ICC15 R15OLP SP or R15OLP and R15OLP SP, based on state of policy issue.) Distributions Distributions can be taken as Policy Loans and Withdrawals. The Maximum Surrender Charge will affect the maximum distribution available. The illustrated distributions may not be available if the policy does not perform as illustrated. Distributions are assumed to occur at the beginning of the month. Distributions will reduce policy values and may reduce benefits. Summary Page Earnings or Interest credited to the Accumulated Value of a life insurance policy is generally taxdeferred but may be taxable at the time of Withdrawal, surrender or lapse. See the Tax Information section that follows for information about when distributions or other policy events could result in taxable income. Currently, the charge for each Withdrawal is zero. However, we reserve the right to charge up to $25.00 for each Withdrawal. Policy Loans A Policy Loan, if not repaid earlier, is eventually repaid from policy proceeds at death, surrender, or lapse. The Death Benefit and Net Cash Surrender Value columns reflect values net of Policy Loans. Interest is due at the end of each policy year when a policy loan is outstanding. In this illustration the policy loan interest charged is borrowed and added to the loan balance. Loan Charge Rate: 2.25% Interest is credited to the portion of Accumulated Value securing the Policy Loan. We reserve the right to decrease the non-guaranteed loan interest crediting rate. However, we will not reduce the rate to less than the guaranteed rate. Page: 14 of 19

17 n-guaranteed Loan Interest Crediting Rate: 2.00% in years 1-5 and 2.25% in years 6+ Guaranteed Loan Interest Crediting Rate: 2.00% This illustration also assumes that policy loan interest payments are allocated to the Fixed Account and earn Fixed Account Interest Credits at the declared rate. Future Action Required If a life insurance Policy Loan is still outstanding at the time of death, the Policy Loan is automatically repaid from the policy's Death Benefit. This use of the Death Benefit to repay a Policy Loan does not cause the Policy Loan repayment to be taxable. Policy Loans are not taxable provided that the policy is not a MEC and the policy remains in force until the proposed insured dies. Certain policy changes will not happen automatically and will require a written request. This illustration reflects possible future changes. Please contact your life insurance producer prior to each change to see if a written request is required. Policy Year Calendar Year Age Policy Changes Amount Reduce Basic Coverage 334, ***Start Distributions 20,000 Calendar years specified above assume the policy is issued in year Tax Information ***This illustration reflects Policy Loan(s) and Withdrawal(s). Each requires a written request. The specific amount and timing of the Policy Loan(s) or Withdrawal(s) can be affected by your actual use of the policy's options, actual rates of return, policy charges, premium amount or frequency and may not be available as illustrated. This material is not intended to be used, nor can it be used by any taxpayer, for the purpose of avoiding U.S. federal, state or local tax penalties. This material is written to support the promotion or marketing of the transaction(s) or matter(s) addressed by this material. 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. Although the information contained in this illustration is based on our understanding of the Internal Revenue Code (IRC) and on certain tax and legal assumptions, it is not intended to be tax or legal advice. Such advice should be obtained from your own counsel or other tax advisor. Tax laws or interpretations of tax laws can change. This may cause the performance and underlying tax assumptions of this policy, including any riders, to be different than illustrated. For example, tax law changes may result in distributions that are more or less than illustrated. In some cases, these changes could result in a decrease in policy values or lapse. You should request an inforce illustration from your life insurance producer periodically so that you can continue to monitor your policy's performance in light of any tax law changes. Your actual taxes will be different from those illustrated. Tax Rate The following tax rates you provided have been used to estimate your taxes, if any, due to a distribution: Rate Start Year End Year 31.00% 1 81 Death For federal income tax purposes, life insurance Death Benefits generally pay income tax-free to Proceeds 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). Summary Page Page: 15 of 19

18 Guideline Premium A life insurance policy will qualify as life insurance under IRC Section 7702 if it meets one of two Test alternative tests. This illustration uses the Guideline Premium Test which requires that the sum of premiums paid reduced by non-taxable Withdrawals at any time does not exceed the Guideline Premium Test Limit. The Guideline Premium Test Limit is the greater of the guideline single premium or the sum of the guideline level premiums at such time, and the Death Benefit payable under the policy at any time is at least equal to an applicable percentage of the Accumulated Value (the "cash value corridor test"). Guideline Premiums are calculated at issue, but are also recalculated upon certain changes in the terms or benefits of the policy. In some cases, a recalculation of the Guideline Premiums may cause the Guideline Premium Test Limit to reduce either immediately or over time. This may require us to force out a portion of your Accumulated Value in one or more withdrawals. Such withdrawals may become taxable to you. See the Tax Information section that follows for information about when distributions or other policy events could result in taxable income. Your policy would be allowed to pay premiums in excess of the Guideline Premium Test Limit under certain conditions in order to prevent your policy from lapsing. Modified Endowment A Modified Endowment Contract (MEC) is a life insurance policy and like other life insurance policies Contract (MEC) provides favorable tax treatment of death benefits and the tax deferred growth of cash value. However, a MEC is subject to less favorable taxation on distributions of cash value, including withdrawals, policy loans and certain other "deemed" distributions. Rules defining a MEC and its tax treatment can be found in IRC Section 7702A and 72, respectively. Depending upon whether or not future distributions are taken from a policy, the MEC status may or may not impact the taxation of the policy. As such, we recommend you consult your tax advisor prior to taking any action on your policy that may cause it to become a MEC. As provided in IRC Section 7702A, a life insurance policy becomes a MEC if it fails the Seven-Pay Test. The Seven-Pay Test compares the premiums paid into the policy during the testing period against the Seven-Pay Premium Limit, which grows from year to year over that period. The Seven- Pay Test starts at policy issue and continues for seven years. Also, upon any Seven-Pay Material Change a new Seven-Pay Test with a new limit will start and continue for seven more years. A policy may never have a Seven-Pay Material Change, or it may have more than one, depending upon any policy changes made over the life of the policy. A Seven-Pay Material Change will generally occur if there are both: 1) an increase in policy benefits; and 2) a premium payment not necessary to fund the policy benefits assumed in the most recent Seven-Pay Premium Limit determination. This can occur whether or not the policy is currently in a Seven-Pay Test Period. A Seven-Pay Material Change may also occur as a result of certain other policy changes. Generally, once a policy is a MEC, it is always a MEC. However, if premiums in excess of the Seven-Pay Premium Limit are paid, the MEC status can be avoided if the excess premium payments, plus interest (which is taxable), are returned to you prior to 60 days after the end of the 'measuring year' in which the premium payment was made. A policy may be subject to retroactive 're-testing' if policy benefits are reduced. Premiums previously applied to the policy during the Seven-Pay Test Period will be retested against a new Seven-Pay Premium Limit reflecting the lower policy benefits and can cause the policy to become a MEC. Before you request a withdrawal or otherwise reduce your policy benefits, you should confirm with us whether your policy would become a MEC. Prior to any Seven-Pay Material Change you should consider whether future reductions or withdrawals may take place. If so, we recommend that you request an in-force illustration and consult your tax advisor. MEC Status Based on our understanding of the Internal Revenue Code a policy issued and maintained consistent with the assumptions in this illustration would not be a MEC at issue or become one thereafter. Whether and when your policy might actually become a MEC depends on the timing and amounts of premium payments and Withdrawals, the policy's non-guaranteed elements, your actual use of the policy's options, and any policy changes made pursuant to your request. The federal income tax consequences of a MEC can be significant. Consult your tax advisor for further details. Summary Page Page: 16 of 19

19 Tax-Free Income For federal income tax purposes, tax-free income assumes, among other things: 1) withdrawals do not exceed tax basis (generally, premiums paid less prior withdrawals); 2) policy remains in force until death; 3) withdrawals taken during the first 15 policy years do not occur at the time of, or during the two years prior to, any reduction in benefits; and 4) the policy does not become a modified endowment contract. See IRC Secs. 72, 7702(f)(7)(B), 7702A. Any policy withdrawals, loans and loan interest will reduce policy values and may reduce benefits. Taxable Income Lapses or Surrenders With an Outstanding Policy Loan: If a life insurance Policy Loan is still outstanding when a policy is surrendered or lapses, the Policy Loan is automatically repaid from policy values. This will result in taxable income to the extent the Net Cash Surrender Value plus the amount of the repaid loan exceeds the cost basis of the policy. This potential tax is not reflected in any tax calculation(s) included in this illustration. Initial Premium Limits Summary Assuming the life insurance policy is not a MEC: 1. Withdrawals (and other distributions) are taxed under the "cost recovery rule" and are generally taxable only to the extent the Withdrawal exceeds the cost basis of the policy. Policy cost basis generally equals the gross premiums paid less prior untaxed Withdrawals. 2. However, Withdrawals in the first 15 policy years may be taxable in part or in full under IRC 7702(f)(7)(B) if they occur in connection with a reduction in benefits. 3. Further, when such a reduction in benefits has occurred during the first 15 policy years, it is possible that earlier Withdrawals (within the two years prior to the reduction in benefits) may be similarly taxable. This illustration does not reflect this "two years prior" taxation. 4. After 15 policy years, Withdrawals up to policy cost basis are not taxable. If the life insurance policy is a MEC: 1. Distributions from a MEC, including Withdrawals, Policy Loans, and certain assignments, are taxed to the extent of a gain in the policy and may be subject to additional penalties. Generally, gain in the policy is the excess, if any, of the Accumulated Value, not reduced by Policy Debt, over the policy cost basis. 2. Further, distributions taken from a policy during the two years prior to the policy becoming a MEC will be subject to MEC rules in the year the policy became a MEC and may become taxable at that time. This illustration does not reflect this "two years prior" taxation. Seven Pay Premium: $21, Guideline Single Premium: $100, Guideline Level Premium: $8, When the Death Benefit is greater than the Face Amount due to Accumulated Value growth, payment of additional premium will be subject to approval. Other Information 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 crediting rates, are backed by the financial strength and claimspaying ability of the issuing insurance company, but they do not protect the value of the variable investment options. 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. Variable insurance products and shares of Pacific Select Fund are distributed by Pacific Select Distributors, LLC (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company, and are available through licensed third-party broker-dealers. Summary Page Pacific Life Insurance Company's individual life insurance products are marketed exclusively through independent third-party life insurance producers, which may include bank affiliated entities. Some of these selling entities may limit availability of some optional riders and investment options based on their client's age and other factors. Your life insurance producer can help you determine which optional riders and investment options are available and appropriate for you. This material must be preceded or accompanied by the variable life insurance product prospectus. Contact your life insurance producer or visit for more information, including product and underlying fund prospectuses that contain more complete information about Pacific Life Insurance Company and a variable life insurance policy's risks, charges, limitations, and expenses, as well as the risks, charges, expenses, and investment goals/objectives of the underlying investment options. Read them carefully before investing. Page: 17 of 19

20 Neither the policy nor the Indexed Fixed Account directly participates in the stock market or equity investments. Historical performance of the S&P 500 index should not be considered a representation of past or future performance. Future performance of the Indexed Fixed Account under this life insurance policy may be greater or less than the earnings shown for the S&P 500 index. The S&P 500 index is composed of 500 common stocks representing major U.S. industry sectors. Segment Indexed Interest Credits are added to each Segment at Segment Maturity using a calculation that is based, in part, on the performance of the S&P 500 index, excluding dividends. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("SPDJI") and has been licensed for use by Pacific Life Insurance Company. Standard & Poor's, S&P and S&P 500 are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"). Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Pacific Life Insurance Company. Pacific Life Insurance Company's Pacific Select VUL - Accumulation is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index. The sale or liquidation of any stock, bond, individual retirement account (IRA), certificate of deposit (CD), mutual fund, annuity, or other asset to fund the purchase of this product may have tax consequences, early withdrawal penalties, or other costs or penalties as a result of the sale or liquidation. You may wish to consult independent legal or financial advice before selling or liquidating any assets, prior to the purchase of the life insurance product being solicited. Pacific Life Insurance Company does not provide qualified plan administrative services or impartial investment advice, and does not act in a fiduciary capacity for any plan. There are circumstances in which replacing your existing life insurance or annuity can benefit you. As a general rule, however, replacement is not in your best interest. Your life insurance producer can provide you with detailed information as to how a replacement may affect your plan of insurance. You should make a careful comparison of the costs and benefits, including any applicable surrender charges, of your existing policy and the proposed policy to determine whether replacement is in your best interest. t a deposit t FDIC insured t insured by any government agency t bank guaranteed May lose value Summary Page Page: 18 of 19

21 Column Definitions Column Name Description Accumulated Value The sum of premiums paid less all loads and expense charges, Monthly Deductions, and Withdrawals plus credited or accrued interest since the Policy Effective Date. Age The insured's age on the birthday nearest the beginning of the policy year shown. BOY Beginning of the illustrated policy year. Cash Surrender The Cash Surrender Value equals the Accumulated Value minus the lesser of the Maximum Value Surrender Charge or 90% of the Net Accumulated Value. Cash Surrender The "internal rate of return" on premiums paid to Cash Surrender Value. The annual percentage Value IRR return that would be realized on premiums paid assuming that the policy was surrendered in a given year. Any income taxes that may be due if the policy was actually surrendered are not reflected. Current Policy Reflect current policy charges assuming hypothetical rate(s) and current persistency credits. Charges columns Death Benefit The amount payable upon your death. The Death Benefit is always reduced by any Policy Debt and increased by any applicable rider benefits. Death Benefit IRR The Death Benefit internal rate of return (IRR) is the rate of return the premiums less any distributions of policy value would have had to earn, if not placed in life insurance, to have equaled the Death Benefit in a particular year. EOY End of the illustrated policy year. Guaranteed Policy Reflect maximum policy charges and do not include persistency credits. See the Summary Page for Charges columns the initial hypothetical rate information. Maximum The Maximum Surrender Charge for each Base coverage layer is determined by the insured's Surrender Charge gender, risk classification, death benefit option, coverage amount and age at the time the coverage layer is issued. Net Accumulated Accumulated Value less Policy Debt. Value Net Cash Cash Surrender Value less Policy Debt. Surrender Value Net Outlay The premium paid minus any Policy Loans or Withdrawals plus any illustrated estimated tax and loan interest paid in cash. Net Earning Rate The assumed Net Earning Rate is equal to the assumed gross rate minus the assumed annual fund expense rates. Policy Loan The loan amount taken in cash from a policy. A negative amount indicates a loan repayment. Does not include loans taken to pay loan interest. Premium Outlay The sum of the premium payments you plan to make each year. Surrender Charge The Surrender Charge is the lesser of the Maximum Surrender Charge or 90% of the Net Accumulated Value. Withdrawal A Withdrawal of a portion of the Net Accumulated Value minus the maximum surrender charge. Summary Page Page: 19 of 19

22 PACIFIC LIFE INSURANCE COMPANY Life Insurance Division P.O. Box 2030 Omaha, NE (800) Fax (866) ILLDS ILLUSTRATION DISCLOSURE For Variable Universal Life Insurance Proposed Insured s Name: First MI Last Date of Birth: (mm/dd/yyyy) 1 VARIABLE LIFE ILLUSTRATION DISCLOSURE I, the applicant, understand that I have applied for and/or purchased a variable universal life insurance policy from Pacific Life (PL). I understand the following about variable universal life insurance and variable universal life insurance illustrations: Policy illustrations demonstrate the workings of a policy over time. Policy illustrations are presentations of non-guaranteed policy values over a period of years, based on assumptions of future investment results and assumptions as to what policy charges and credits will then be in effect. The hypothetical investment rates used in illustrations are illustrative only and should not be deemed to represent past or future investment results. In addition to investment results, future policy values depend on policy charges and credits. These charges and credits are determined by and may be adjusted by PL subject to contractual guarantees. Future policy values are also dependent on the amount and timing of premium payments, withdrawals and loans. Policy cash values may be more or less than premiums paid. The actual performance of the policy is likely to vary from the illustration as actual investment results and future policy charges and credits are either more or less favorable than illustrated. Such changes are likely to change the amount or number of required premiums to meet the original goals. The illustration may be based on policy options that require future action. Consult with your representatives to determine which (if any) illustrated policy options require future action. PL does not offer legal advice regarding state and federal tax laws pertaining to life insurance. 2 SIGNATURES If you are signing on behalf of an entity, you represent that you are authorized to execute this document and make the statements that may be shown. You further represent that all requirements of those entities, including the use of any seal (in the case of a Corporation) and any authorized signatures (in the case of a Corporation and/or Trust), have been met. SIGNED AND DATED ON: Date (mm/dd/yyyy) X Applicant s* Signature Applicant s Name: First MI Last (print) Title, if applicable *If a Corporation, Trust or Business Entity, the full name of the Corporation, Trust or Business Entity must be shown below. Corporation, Trust, or Business Entity s Name PRODUCER: PROVIDE A PHOTOCOPY OF THIS SIGNED FORM TO ALL SIGNING PARTIES. ÌPL%ILLDS%PLÈÎ NVID-00 10/2014