2020 Year-End Procedures for PL Promise Products

2020 Year-End Procedures for PL Promise Products

It’s time to prepare for 2020 year-end closing. As always, our goal is to make this a successful year-end for everyone. Important dates and information about year-end closing are highlighted below.

Cutoff Dates for PL Promise Term & PL Promise GUL Life Insurance Business

The following provides cutoff dates for receipt of requests and in good order requirements for 2020 yearend processing. Please note that these dates are based on estimated underwriting review, and service times are not guaranteed.

December 23, 2020 – Last day to receive requirements for 2020 production credit (paid as 2020 income): initial premium and all in good order last requirements must be received to fund the policy regardless of funding source.

December 24, 2020 – Pacific Life Holiday
December 25, 2020 – Pacific Life Holiday December 25, 2020 Last commission cycle for 2020 income will be December 25, 2020 – Direct Deposit payments will be disbursed on Monday, December 28, 2020. Receipt of payment is dependent on your financial institution processing times.

December 31, 2020 – Pacific Life Holiday
January 1, 2021 – Pacific Life Holiday

Read the full Bulletin HERE

 

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