<PAGE>
EXHIBIT 7.(b)
ILLUSTRATION 1
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
SUMMARY PAGE
<TABLE>
<CAPTION>
---CURRENT POLICY CHARGES--- -----------------GUARANTEED POLICY CHARGES---------------
ASSUMING HYPOTHETICAL GROSS ASSUMING HYPOTHETICAL GROSS ASSUMING HYPOTHETICAL GROSS
ANNUAL INVESTMENT RETURN OF ANNUAL INVESTMENT RETURN OF ANNUAL INVESTMENT RETURN OF
-----6.00% (5.02% NET)----- -----0.00% (-0.92% NET)---- -----6.00% (5.02% NET)-----
NET NET NET NET NET NET
GUIDELINE PREMIUMS ACCUM'D SURR'R DEATH ACCUM'D SURR'R DEATH ACCUM'D SURR'R DEATH
SINGLE PLUS 5% VALUE VALUE BENEFIT VALUE VALUE BENEFIT VALUE VALUE BENEFIT
YEAR PREMIUM INTEREST (EOY) (EOY) (EOY) (EOY) (EOY) (EOY) (EOY) (EOY) (EOY)
==== ========== ======== ======== ======== ======== ======= ======= ======= ======= ======= =======
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 40,000.00 $42,000 $41,135 $37,135 $80,042 $38,322 $34,490 $80,042 $40,659 $36,659 $80,042
2 0.00 $44,100 $42,261 $38,261 $80,042 $36,552 $32,897 $80,042 $41,246 $37,246 $80,042
3 0.00 $46,305 $43,419 $39,819 $80,042 $34,715 $31,590 $80,042 $41,794 $38,194 $80,042
4 0.00 $48,620 $44,610 $41,410 $80,042 $32,794 $30,171 $80,042 $42,294 $39,094 $80,042
5 0.00 $51,051 $45,835 $43,035 $80,042 $30,773 $28,619 $80,042 $42,736 $39,936 $80,042
6 0.00 $53,604 $47,095 $44,695 $80,042 $28,633 $26,915 $80,042 $43,112 $40,712 $80,042
7 0.00 $56,284 $48,390 $46,390 $80,042 $26,354 $25,037 $80,042 $43,415 $41,415 $80,042
8 0.00 $59,098 $49,722 $48,122 $80,042 $23,916 $22,960 $80,042 $43,634 $42,034 $80,042
9 0.00 $62,053 $51,092 $49,892 $80,042 $21,293 $20,654 $80,042 $43,758 $42,558 $80,042
10 0.00 $65,156 $52,542 $52,542 $80,042 $18,446 $18,446 $80,042 $43,768 $43,768 $80,042
15 0.00 $83,157 $62,903 $62,903 $80,042 ## ## ## $42,630 $42,630 $80,042
20 0.00 $106,132 $75,306 $75,306 $80,042 $32,566 $32,566 $80,042
25 0.00 $135,454 $90,156 $90,156 $94,663 ## ## ##
30 0.00 $172,877 $107,933 $107,933 $113,330
35 0.00 $220,640 $129,249 $129,249 $130,542
</TABLE>
## ADDITIONAL PREMIUM PAYMENTS REQUIRED TO MAINTAIN REQUESTED BENEFITS.
ALL VALUES EXCEPT PREMIUMS, LOANS, LOAN INTEREST AND WITHDRAWALS ARE VALUES AT
THE END OF THE POLICY YEAR. THE 'NET SURRENDER VALUE' IS EQUAL TO THE
ACCUMULATED VALUE, LESS ANY POLICY DEBT AND LESS ANY SURRENDER CHARGES. THE 'NET
DEATH BENEFIT' IS THE POLICY DEATH BENEFIT LESS ANY POLICY DEBT. THE 'NEW LOANS
AND WITHDRAWALS' SHOWN ABOVE DOES NOT INCLUDE ANY LOANS TAKEN TO PAY LOAN
INTEREST.
THE PREMIUM MODE ASSUMED IN THIS ILLUSTRATION IS SINGLE.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
ANY LOANS OR WITHDRAWALS ILLUSTRATED ARE BASED ON CURRENT POLICY CHARGE
ASSUMPTIONS AND MIGHT NOT BE AVAILABLE UNDER GUARANTEED POLICY CHARGE
ASSUMPTIONS.
THIS ILLUSTRATION SHOWS A POLICY LOAN. THE LOAN IS AUTOMATICALLY REPAID FROM THE
GROSS DEATH BENEFIT AT THE DEATH OF THE INSURED, RESULTING IN THE ESTIMATED
PAYMENT TO THE BENEFICIARY OF THE NET DEATH BENEFIT ILLUSTRATED. UPON LAPSE OR
SURRENDER, THE LOAN IS AUTOMATICALLY REPAID, RESULTING IN THE ESTIMATED PAYMENT
TO THE POLICYOWNER OF THE NET SURRENDER AMOUNT. THE AUTOMATIC REPAYMENT OF THE
LOAN DURING A LAPSE OR SURRENDER WILL CAUSE THE RECOGNITION OF TAXABLE INCOME,
TO THE EXTENT THAT THE NET SURRENDER VALUE PLUS THE AMOUNT OF THE REPAID LOAN
EXCEEDS THE POLICY OWNER'S BASIS IN THE POLICY.
THE POLICY WILL LAPSE IF THE ACCUMULATED VALUE LESS POLICY DEBT IS INSUFFICIENT
TO COVER THE CURRENT MONTHLY DEDUCTION ON ANY MONTHLY PAYMENT DATE, AND A GRACE
PERIOD EXPIRES WITHOUT THE POLICY OWNER MAKING A SUFFICIENT PAYMENT. IF THE
POLICY IS INSUFFICIENTLY FUNDED IN RELATION TO THE INCOME STREAM FROM THE
POLICY, THE POLICY CAN LAPSE PREMATURELY AND RESULT IN A SIGNIFICANT INCOME TAX
LIABILITY TO THE OWNER IN THE YEAR IN WHICH THE LAPSE OCCURS.
A POLICY OWNER SHOULD BE CAREFUL TO STRUCTURE A POLICY SO THAT THE POLICY WILL
NOT LAPSE PREMATURELY UNDER VARIOUS MARKET SCENARIOS AS A RESULT OF WITHDRAWALS
AND/OR LOANS TAKEN FROM THE POLICY. THE POLICY OWNER SHOULD ALSO REQUEST AT
LEAST ANNUALLY A REVISED ILLUSTRATION THAT REFLECTS CURRENT POLICY VALUES TO
ASSURE THAT THE POLICY IS SUFFICIENTLY FUNDED TO SUPPORT A DESIRED INCOME
STREAM, IF ANY.
INITIAL GUIDELINE SINGLE PREMIUM: $40,000.00
INITIAL GUIDELINE LEVEL PREMIUM: $3,393.99
INITIAL SEVEN PAY PREMIUM: $5,954.88
THIS IS AN ILLUSTRATION AND NOT A CONTRACT. ALTHOUGH THE INFORMATION CONTAINED
IN THIS ILLUSTRATION IS BASED ON CERTAIN TAX AND LEGAL ASSUMPTIONS, IT IS NOT
INTENDED TO BE TAX OR LEGAL ADVICE. SUCH ADVICE SHOULD BE OBTAINED FROM
APPLICANT'S OWN COUNSEL OR OTHER ADVISOR.
THIS ILLUSTRATION MUST BE PRECEDED OR ACCOMPANIED BY THE CURRENT PROSPECTUSES
FOR THE SEPARATE ACCOUNT AND THE FUND. READ THE PROSPECTUSES CAREFULLY BEFORE
INVESTING OR SENDING MONEY.
---ASSUMED TAX BRACKET---
START END AMOUNT
1 35 31.00
THE 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.
VALUES ILLUSTRATED UNDER THE GUARANTEED POLICY CHARGE COLUMNS ASSUME MAXIMUM
COST OF INSURANCE RATES. CURRENT COST OF INSURANCE RATES FOR THE BASE COVERAGE
ARE GUARANTEED FOR THE FIRST 5 YEARS.
HYPOTHETICAL FUTURE VALUES ARE BASED ON CURRENT COST OF INSURANCE RATES AND
HYPOTHETICAL GROSS EARNINGS RATE ASSUMPTIONS AS DESCRIBED BELOW.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
THIS ILLUSTRATION ASSUMES THAT ALL PREMIUMS HAVE BEEN ALLOCATED TO THE VARIABLE
ACCOUNTS. THE HYPOTHETICAL RATES OF RETURN AND VALUES SHOWN ARE ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED AS A REPRESENTATION OF PAST OR FUTURE INVESTMENT
RESULTS. THE ILLUSTRATED POLICY VALUES MIGHT NOT BE ACHIEVED IF ACTUAL RATES OF
RETURN OR POLICY CHARGES DIFFER FROM THOSE ASSUMED. ACTUAL RATES OF RETURN MAY
BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS
INCLUDING THE INVESTMENT ALLOCATIONS MADE TO THE VARIABLE ACCOUNTS BY AN OWNER
AND THE EXPERIENCE OF THE ACCOUNTS. NO REPRESENTATION CAN BE MADE BY PACIFIC
LIFE, THE SEPARATE ACCOUNT, OR THE FUND THAT THESE HYPOTHETICAL RATES OF RETURN
CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME.
THE AMOUNTS SHOWN FOR THE DEATH BENEFITS, ACCUMULATED VALUES AND CASH SURRENDER
VALUES IN THIS ILLUSTRATION REFLECT AN AVERAGE DAILY INVESTMENT ADVISORY FEE
EQUIVALENT TO AN ANNUAL RATE OF 0.85% OF THE AGGREGATE AVERAGE DAILY NET ASSETS
OF THE FUND. THE POLICY VALUES ALSO REFLECT OPERATING EXPENSES (AFTER ANY OFFSET
FOR CUSTODIAN CREDITS AND EXCLUDING ANY FOREIGN TAXES) AT AN ANNUAL RATE OF
0.07% OF THE AGGREGATE AVERAGE DAILY NET ASSETS OF THE UNDERLYING PORTFOLIOS.
THE TOTAL AGGREGATE AVERAGE ANNUAL EXPENSES FOR THE YEAR ENDING DECEMBER 31,
2000 (INCLUDING INVESTMENT ADVISORY FEES AND EXCLUDING ANY FOREIGN TAXES) IS
0.92%.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
YOU HAVE REQUESTED THAT THIS ILLUSTRATION REFLECT YOUR SELECTION OF UNDERLYING
PORTFOLIOS. THE AMOUNTS SHOWN FOR THE DEATH BENEFITS, ACCUMULATED VALUES AND
CASH SURRENDER VALUES IN THIS ILLUSTRATION REFLECT YOUR SELECTION OF UNDERLYING
PORTFOLIOS AND ACTUAL FUND EXPENSES (EXCLUDING ANY FOREIGN TAXES) INCURRED BY
THE PORTFOLIOS FOR THE YEAR ENDING DECEMBER 31, 1999.
UNDERLYING PORTFOLIOS
<TABLE>
<CAPTION>
Investment
Advisory Operating
Portfolio Fee Expenses
--------------------------------------------------
<S> <C> <C>
Aggressive Equity 0.80% 0.04%
Aggressive Growth 1.00% 0.06%
Blue Chip 0.95% 0.06%
Capital Opportunities 0.80% 0.06%
Diversified Research 0.90% 0.10%
Emerging Markets 1.10% 0.19%
Equity 0.65% 0.04%
Equity Income 0.65% 0.04%
Equity Index 0.25% 0.04%
Financial Services 1.10% 0.10%
Focused 30 0.95% 0.10%
Global Growth 1.10% 0.19%
Government Securities 0.60% 0.05%
Growth LT 0.75% 0.04%
Health Sciences 1.10% 0.10%
High Yield Bond 0.60% 0.04%
I-Net Tollkeeper 1.50% 0.10%
International Large-Cap 1.05% 0.13%
International Value 0.85% 0.11%
Large-Cap Value 0.85% 0.05%
Managed Bond 0.60% 0.05%
Mid-Cap Growth 0.90% 0.06%
Mid-Cap Value 0.85% 0.04%
Money Market 0.34% 0.04%
Multi-Strategy 0.65% 0.04%
REIT 1.10% 0.05%
Small-Cap Equity 0.65% 0.04%
Small-Cap Index 0.50% 0.11%
Strategic Value 0.95% 0.10%
Technology 1.10% 0.08%
Telecommunications 1.10% 0.08%
</TABLE>
THE INVESTMENT ADVISORY NET FEES AND OPERATING EXPENSES FOR THE UNDERLYING
VARIABLE INVESTMENT OPTIONS REFLECT FEES AND EXPENSES INCURRED BY THE PORTFOLIOS
FOR THE YEAR ENDING DECEMBER 31, 2000, ADJUSTED TO REFLECT A DECREASE IN
CUSTODIAL FEES. OPERATING EXPENSES FOR AGGRESSIVE GROWTH, BLUE CHIP, CAPITAL
OPPORTUNITIES, FINANCIAL SERVICES, GLOBAL GROWTH, HEALTH SCIENCES, MID-CAP
GROWTH, TECHNOLOGY, AND TELECOMMUNICATIONS ARE ESTIMATED. THE SMALL-CAP EQUITY
PORTFOLIO WAS FORMERLY CALLED THE GROWTH PORTFOLIO. THE INTERNATIONAL VALUE
PORTFOLIO WAS FORMERLY CALLED THE INTERNATIONAL PORTFOLIO. PLEASE NOTE: NET
PREMIUMS AND POLICY ACCUMULATED VALUE MAY BE INVESTED IN UP TO TWENTY (20)
INVESTMENT OPTIONS AT ONE TIME.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
THE HYPOTHETICAL GROSS ANNUAL EARNINGS RATE ASSUMPTION IS AFTER BROKERAGE
EXPENSES AND ANY FOREIGN TAXES. A PORTFOLIO'S FOREIGN INVESTMENTS 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 AS AN
EXPENSE.
THE AMOUNTS SHOWN FOR THE DEATH BENEFITS, ACCUMULATED VALUES AND CASH SURRENDER
VALUES REFLECT THE FACT THAT THE NET INVESTMENT RETURN ON THE VARIABLE ACCOUNTS
IS LOWER THAN THE GROSS RETURN ON THE ASSETS AS A RESULT OF CHARGES LEVIED
AGAINST THE ACCOUNTS.
AFTER DEDUCTION OF THESE AMOUNTS, HYPOTHETICAL ILLUSTRATED GROSS ANNUAL
INVESTMENT RETURNS OF 0.00% AND 6.00% CORRESPOND TO APPROXIMATE NET ANNUAL RATES
OF RETURN OF -0.92% AND 5.02% RESPECTIVELY.
NO CHARGE IS CURRENTLY IMPOSED UPON A TRANSFER OF ACCUMULATED VALUE BETWEEN
ACCOUNTS. HOWEVER, PACIFIC LIFE MAY ASSESS SUCH A CHARGE AT A FUTURE DATE
INTEREST IS CHARGED ON POLICY LOANS AT AN EFFECTIVE ANNUAL RATE OF 3.25% IN
ARREARS. INTEREST IS CREDITED TO THE PORTION OF THE ACCUMULATED VALUE SECURING
THE POLICY LOAN AT AN EFFECTIVE ANNUAL RATE OF 3.00%
POLICY LOANS AND/OR WITHDRAWALS MAY HAVE AN ADVERSE EFFECT ON THE POLICY OWNER'S
BENEFITS.
---DEATH BENEFIT OPTION---
START END OPTION
1 35 LEVEL
---BASE POLICY FACE AMOUNT---
START END AMOUNT
1 35 80,042
FUTURE ACTION REQUIRED BY POLICY OWNER
If you want to change the premium amount that you are billed, you must request
the change in writing.
Policy loans or partial withdrawals are illustrated. A written request must be
submitted by the policy owner at the start of the policy year indicated to
receive the partial withdrawal or loan illustrated.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
DECREASES IN ART RIDER AMOUNTS MUST BE REQUESTED AT THE TIME OF THE DECREASE.
WHEN THE DEATH BENEFIT IS GREATER THAN THE FACE AMOUNT DUE TO ACCUMULATED VALUE
GROWTH, PAYMENT OF ADDITIONAL PREMIUM WILL BE SUBJECT TO APPROVAL.
UNDER CURRENT FEDERAL TAX LAW, THIS POLICY WILL QUALIFY AS LIFE INSURANCE ONLY
IF THE SUM OF PREMIUMS PAID AT ANY TIME DOES NOT EXCEED THE GREATER OF THE
GUIDELINE SINGLE PREMIUM OR THE SUM OF THE GUIDELINE LEVEL PREMIUMS AT SUCH
TIME. THE GUIDELINE PREMIUMS WILL CHANGE WHENEVER THERE IS A CHANGE IN THE FACE
AMOUNT OF INSURANCE OR IN OTHER POLICY BENEFITS
BASED ON OUR UNDERSTANDING OF THE INTERNAL REVENUE CODE AND THE ASSUMPTIONS IN
THIS ILLUSTRATION, THIS POLICY WOULD NOT BECOME A MODIFIED ENDOWMENT CONTRACT
(MEC). THE FEDERAL INCOME TAX CONSEQUENCES OF A MEC CAN BE SIGNIFICANT.
CONSULT YOUR TAX ADVISOR FOR FURTHER DETAILS.
ALL VALUES ASSUME PREMIUMS AND LOAN INTEREST ARE PAID WHEN DUE. IF A PAYMENT IS
RECEIVED WITHOUT BEING DESIGNATED AS A PREMIUM PAYMENT OR LOAN PAYMENT, AND
THERE IS AN OUTSTANDING LOAN, THE PAYMENT WILL BE APPLIED AS A LOAN PAYMENT.
THIS ILLUSTRATION WAS PREPARED FOR PRESENTATION IN THE STATE OF CALIFORNIA.
M'S VERSATILE PRODUCT IS DISTRIBUTED BY
Pacific Select Distributors, Inc.,
MEMBER NASD & SIPC, A SUBSIDIARY OF PACIFIC LIFE INSURANCE COMPANY
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
ILLUSTRATION 2
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
SUMMARY PAGE
<TABLE>
<CAPTION>
---CURRENT POLICY CHARGES--- -----------------GUARANTEED POLICY CHARGES------------------
ASSUMING HYPOTHETICAL GROSS ASSUMING HYPOTHETICAL GROSS ASSUMING HYPOTHETICAL GROSS
ANNUAL INVESTMENT RETURN OF ANNUAL INVESTMENT RETURN OF ANNUAL INVESTMENT RETURN OF
-----12.00% (10.97% NET)---- ----0.00% (-0.92% NET)---- ----12.00% (10.97% NET)----
NET NET NET NET NET NET
GUIDELINE PREMIUMS ACCUM'D SURR'R DEATH ACCUM'D SURR'R DEATH ACCUM'D SURR'R DEATH
SINGLE PLUS 5% VALUE VALUE BENEFIT VALUE VALUE BENEFIT VALUE VALUE BENEFIT
YEAR PREMIUM INTEREST (EOY) (EOY) (EOY) (EOY) (EOY) (EOY) (EOY) (EOY) (EOY)
==== ========== ======== ======= ======== ======== ======= ======= ======= ======== ======== ========
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 40,000.00 $42,000 $43,464 $39,464 $80,042 $38,322 $34,490 $80,042 $42,997 $38,997 $80,042
2 0.00 $44,100 $47,184 $43,184 $80,042 $36,552 $32,897 $80,042 $46,221 $42,221 $80,042
3 0.00 $46,305 $51,226 $47,626 $80,042 $34,715 $31,590 $80,042 $49,747 $46,147 $80,042
4 0.00 $48,620 $55,661 $52,461 $80,042 $32,794 $30,171 $80,042 $53,617 $50,417 $80,042
5 0.00 $51,051 $60,481 $57,681 $80,042 $30,773 $28,619 $80,042 $57,925 $55,125 $80,042
6 0.00 $53,604 $65,718 $63,318 $80,042 $28,633 $26,915 $80,042 $62,695 $60,295 $80,042
7 0.00 $56,284 $71,409 $69,409 $84,977 $26,354 $25,037 $80,042 $68,006 $66,006 $80,927
8 0.00 $59,098 $77,592 $75,992 $91,559 $23,916 $22,960 $80,042 $73,842 $72,242 $87,133
9 0.00 $62,053 $84,311 $83,111 $98,644 $21,293 $20,654 $80,042 $80,165 $78,965 $93,793
10 0.00 $65,156 $91,612 $91,612 $106,269 $18,446 $18,446 $80,042 $87,015 $87,015 $100,937
15 0.00 $83,157 $144,437 $144,437 $154,547 ## ## ## $135,578 $135,578 $145,068
20 0.00 $106,132 $227,721 $227,721 $239,107 $212,711 $212,711 $223,347
25 0.00 $135,454 $359,030 $359,030 $376,981 $329,999 $329,999 $346,498
30 0.00 $172,877 $566,053 $566,053 $594,355 $503,146 $503,146 $528,304
35 0.00 $220,640 $892,677 $892,677 $901,603 $774,274 $774,274 $782,016
</TABLE>
## ADDITIONAL PREMIUM PAYMENTS REQUIRED TO MAINTAIN REQUESTED BENEFITS.
ALL VALUES EXCEPT PREMIUMS, LOANS, LOAN INTEREST AND WITHDRAWALS ARE VALUES AT
THE END OF THE POLICY YEAR. THE 'NET SURRENDER VALUE' IS EQUAL TO THE
ACCUMULATED VALUE, LESS ANY POLICY DEBT AND LESS ANY SURRENDER CHARGES. THE 'NET
DEATH BENEFIT' IS THE POLICY DEATH BENEFIT LESS ANY POLICY DEBT. THE 'NEW LOANS
AND WITHDRAWALS' SHOWN ABOVE DOES NOT INCLUDE ANY LOANS TAKEN TO PAY LOAN
INTEREST.
THE PREMIUM MODE ASSUMED IN THIS ILLUSTRATION IS SINGLE.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
ANY LOANS OR WITHDRAWALS ILLUSTRATED ARE BASED ON CURRENT POLICY CHARGE
ASSUMPTIONS AND MIGHT NOT BE AVAILABLE UNDER GUARANTEED POLICY CHARGE
ASSUMPTIONS.
THIS ILLUSTRATION SHOWS A POLICY LOAN. THE LOAN IS AUTOMATICALLY REPAID FROM THE
GROSS DEATH BENEFIT AT THE DEATH OF THE INSURED, RESULTING IN THE ESTIMATED
PAYMENT TO THE BENEFICIARY OF THE NET DEATH BENEFIT ILLUSTRATED. UPON LAPSE OR
SURRENDER, THE LOAN IS AUTOMATICALLY REPAID, RESULTING IN THE ESTIMATED PAYMENT
TO THE POLICYOWNER OF THE NET SURRENDER AMOUNT. THE AUTOMATIC REPAYMENT OF THE
LOAN DURING A LAPSE OR SURRENDER WILL CAUSE THE RECOGNITION OF TAXABLE INCOME,
TO THE EXTENT THAT THE NET SURRENDER VALUE PLUS THE AMOUNT OF THE REPAID LOAN
EXCEEDS THE POLICY OWNER'S BASIS IN THE POLICY.
THE POLICY WILL LAPSE IF THE ACCUMULATED VALUE LESS POLICY DEBT IS INSUFFICIENT
TO COVER THE CURRENT MONTHLY DEDUCTION ON ANY MONTHLY PAYMENT DATE, AND A GRACE
PERIOD EXPIRES WITHOUT THE POLICY OWNER MAKING A SUFFICIENT PAYMENT. IF THE
POLICY IS INSUFFICIENTLY FUNDED IN RELATION TO THE INCOME STREAM FROM THE
POLICY, THE POLICY CAN LAPSE PREMATURELY AND RESULT IN A SIGNIFICANT INCOME TAX
LIABILITY TO THE OWNER IN THE YEAR IN WHICH THE LAPSE OCCURS.
A POLICY OWNER SHOULD BE CAREFUL TO STRUCTURE A POLICY SO THAT THE POLICY WILL
NOT LAPSE PREMATURELY UNDER VARIOUS MARKET SCENARIOS AS A RESULT OF WITHDRAWALS
AND/OR LOANS TAKEN FROM THE POLICY. THE POLICY OWNER SHOULD ALSO REQUEST AT
LEAST ANNUALLY A REVISED ILLUSTRATION THAT REFLECTS CURRENT POLICY VALUES TO
ASSURE THAT THE POLICY IS SUFFICIENTLY FUNDED TO SUPPORT A DESIRED INCOME
STREAM, IF ANY.
INITIAL GUIDELINE SINGLE PREMIUM: $40,000.00
INITIAL GUIDELINE LEVEL PREMIUM: $3,393.99
INITIAL SEVEN PAY PREMIUM: $5,954.88
THIS IS AN ILLUSTRATION AND NOT A CONTRACT. ALTHOUGH THE INFORMATION CONTAINED
IN THIS ILLUSTRATION IS BASED ON CERTAIN TAX AND LEGAL ASSUMPTIONS, IT IS NOT
INTENDED TO BE TAX OR LEGAL ADVICE. SUCH ADVICE SHOULD BE OBTAINED FROM
APPLICANT'S OWN COUNSEL OR OTHER ADVISOR.
THIS ILLUSTRATION MUST BE PRECEDED OR ACCOMPANIED BY THE CURRENT PROSPECTUSES
FOR THE SEPARATE ACCOUNT AND THE FUND. READ THE PROSPECTUSES CAREFULLY BEFORE
INVESTING OR SENDING MONEY.
---ASSUMED TAX BRACKET---
START END AMOUNT
1 35 31.00
THE 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.
VALUES ILLUSTRATED UNDER THE GUARANTEED POLICY CHARGE COLUMNS ASSUME MAXIMUM
COST OF INSURANCE RATES. CURRENT COST OF INSURANCE RATES FOR THE BASE COVERAGE
ARE GUARANTEED FOR THE FIRST 5 YEARS.
HYPOTHETICAL FUTURE VALUES ARE BASED ON CURRENT COST OF INSURANCE RATES AND
HYPOTHETICAL GROSS EARNINGS RATE ASSUMPTIONS AS DESCRIBED BELOW.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
THIS ILLUSTRATION ASSUMES THAT ALL PREMIUMS HAVE BEEN ALLOCATED TO THE VARIABLE
ACCOUNTS. THE HYPOTHETICAL RATES OF RETURN AND VALUES SHOWN ARE ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED AS A REPRESENTATION OF PAST OR FUTURE INVESTMENT
RESULTS. THE ILLUSTRATED POLICY VALUES MIGHT NOT BE ACHIEVED IF ACTUAL RATES OF
RETURN OR POLICY CHARGES DIFFER FROM THOSE ASSUMED. ACTUAL RATES OF RETURN MAY
BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS
INCLUDING THE INVESTMENT ALLOCATIONS MADE TO THE VARIABLE ACCOUNTS BY AN OWNER
AND THE EXPERIENCE OF THE ACCOUNTS. NO REPRESENTATION CAN BE MADE BY PACIFIC
LIFE, THE SEPARATE ACCOUNT, OR THE FUND THAT THESE HYPOTHETICAL RATES OF RETURN
CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
UNDERLYING PORTFOLIOS
<TABLE>
<CAPTION>
Investment
Advisory Operating
Portfolio Fee Expenses
--------------------------------------------------
<S> <C> <C>
Aggressive Equity 0.80% 0.04%
Aggressive Growth 1.00% 0.06%
Blue Chip 0.95% 0.06%
Capital Opportunities 0.80% 0.06%
Diversified Research 0.90% 0.10%
Emerging Markets 1.10% 0.19%
Equity 0.65% 0.04%
Equity Income 0.65% 0.04%
Equity Index 0.25% 0.04%
Financial Services 1.10% 0.10%
Focused 30 0.95% 0.10%
Global Growth 1.10% 0.19%
Government Securities 0.60% 0.05%
Growth LT 0.75% 0.04%
Health Sciences 1.10% 0.10%
High Yield Bond 0.60% 0.04%
I-Net Tollkeeper 1.50% 0.10%
International Large-Cap 1.05% 0.13%
International Value 0.85% 0.11%
Large-Cap Value 0.85% 0.05%
Managed Bond 0.60% 0.05%
Mid-Cap Growth 0.90% 0.06%
Mid-Cap Value 0.85% 0.04%
Money Market 0.34% 0.04%
Multi-Strategy 0.65% 0.04%
REIT 1.10% 0.05%
Small-Cap Equity 0.65% 0.04%
Small-Cap Index 0.50% 0.11%
Strategic Value 0.95% 0.10%
Technology 1.10% 0.08%
Telecommunications 1.10% 0.08%
</TABLE>
THE INVESTMENT ADVISORY NET FEES AND OPERATING EXPENSES FOR THE UNDERLYING
VARIABLE INVESTMENT OPTIONS REFLECT FEES AND EXPENSES INCURRED BY THE PORTFOLIOS
FOR THE YEAR ENDING DECEMBER 31, 2000, ADJUSTED TO REFLECT A DECREASE IN
CUSTODIAL FEES. OPERATING EXPENSES FOR AGGRESSIVE GROWTH, BLUE CHIP, CAPITAL
OPPORTUNITIES, FINANCIAL SERVICES, GLOBAL GROWTH, HEALTH SCIENCES, MID-CAP
GROWTH, TECHNOLOGY, AND TELECOMMUNICATIONS ARE ESTIMATED. THE SMALL-CAP EQUITY
PORTFOLIO WAS FORMERLY CALLED THE GROWTH PORTFOLIO. THE INTERNATIONAL VALUE
PORTFOLIO WAS FORMERLY CALLED THE INTERNATIONAL PORTFOLIO. PLEASE NOTE: NET
PREMIUMS AND POLICY ACCUMULATED VALUE MAY BE INVESTED IN UP TO TWENTY (20)
INVESTMENT OPTIONS AT ONE TIME.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
THE HYPOTHETICAL GROSS ANNUAL EARNINGS RATE ASSUMPTION IS AFTER BROKERAGE
EXPENSES AND ANY FOREIGN TAXES. A PORTFOLIO'S FOREIGN INVESTMENTS 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 AS AN
EXPENSE.
THE AMOUNTS SHOWN FOR THE DEATH BENEFITS, ACCUMULATED VALUES AND CASH SURRENDER
VALUES REFLECT THE FACT THAT THE NET INVESTMENT RETURN ON THE VARIABLE ACCOUNTS
IS LOWER THAN THE GROSS RETURN ON THE ASSETS AS A RESULT OF CHARGES LEVIED
AGAINST THE ACCOUNTS.
AFTER DEDUCTION OF THESE AMOUNTS, HYPOTHETICAL ILLUSTRATED GROSS ANNUAL
INVESTMENT RETURNS OF 0.00% AND 12.00% CORRESPOND TO APPROXIMATE NET ANNUAL
RATES OF RETURN OF -0.92% AND 10.97% RESPECTIVELY.
NO CHARGE IS CURRENTLY IMPOSED UPON A TRANSFER OF ACCUMULATED VALUE BETWEEN
ACCOUNTS. HOWEVER, PACIFIC LIFE MAY ASSESS SUCH A CHARGE AT A FUTURE DATE
INTEREST IS CHARGED ON POLICY LOANS AT AN EFFECTIVE ANNUAL RATE OF 3.25% IN
ARREARS. INTEREST IS CREDITED TO THE PORTION OF THE ACCUMULATED VALUE SECURING
THE POLICY LOAN AT AN EFFECTIVE ANNUAL RATE OF 3.00%
POLICY LOANS AND/OR WITHDRAWALS MAY HAVE AN ADVERSE EFFECT ON THE POLICY OWNER'S
BENEFITS.
---DEATH BENEFIT OPTION---
START END OPTION
1 35 LEVEL
---BASE POLICY FACE AMOUNT---
START END AMOUNT
1 35 80,042
FUTURE ACTION REQUIRED BY POLICY OWNER
If you want to change the premium amount that you are billed, you must request
the change in writing.
Policy loans or partial withdrawals are illustrated. A written request must be
submitted by the policy owner at the start of the policy year indicated to
receive the partial withdrawal or loan illustrated.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
DECREASES IN ART RIDER AMOUNTS MUST BE REQUESTED AT THE TIME OF THE DECREASE.
WHEN THE DEATH BENEFIT IS GREATER THAN THE FACE AMOUNT DUE TO ACCUMULATED VALUE
GROWTH, PAYMENT OF ADDITIONAL PREMIUM WILL BE SUBJECT TO APPROVAL.
UNDER CURRENT FEDERAL TAX LAW, THIS POLICY WILL QUALIFY AS LIFE INSURANCE ONLY
IF THE SUM OF PREMIUMS PAID AT ANY TIME DOES NOT EXCEED THE GREATER OF THE
GUIDELINE SINGLE PREMIUM OR THE SUM OF THE GUIDELINE LEVEL PREMIUMS AT SUCH
TIME. THE GUIDELINE PREMIUMS WILL CHANGE WHENEVER THERE IS A CHANGE IN THE FACE
AMOUNT OF INSURANCE OR IN OTHER POLICY BENEFITS
BASED ON OUR UNDERSTANDING OF THE INTERNAL REVENUE CODE AND THE ASSUMPTIONS IN
THIS ILLUSTRATION, THIS POLICY WOULD NOT BECOME A MODIFIED ENDOWMENT CONTRACT
(MEC). THE FEDERAL INCOME TAX CONSEQUENCES OF A MEC CAN BE SIGNIFICANT.
CONSULT YOUR TAX ADVISOR FOR FURTHER DETAILS.
ALL VALUES ASSUME PREMIUMS AND LOAN INTEREST ARE PAID WHEN DUE. IF A PAYMENT IS
RECEIVED WITHOUT BEING DESIGNATED AS A PREMIUM PAYMENT OR LOAN PAYMENT, AND
THERE IS AN OUTSTANDING LOAN, THE PAYMENT WILL BE APPLIED AS A LOAN PAYMENT.
THIS ILLUSTRATION WAS PREPARED FOR PRESENTATION IN THE STATE OF CALIFORNIA.
PACIFIC SELECT ESTATE MAXIMIZER IS DISTRIBUTED BY
Pacific Select Distributors, Inc.,
MEMBER NASD & SIPC, A SUBSIDIARY OF PACIFIC LIFE INSURANCE COMPANY
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
ILLUSTRATION 3
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
SUMMARY PAGE
<TABLE>
<CAPTION>
---CURRENT POLICY CHARGES--- -----------------GUARANTEED POLICY CHARGES---------------
ASSUMING HYPOTHETICAL GROSS ASSUMING HYPOTHETICAL GROSS ASSUMING HYPOTHETICAL GROSS
ANNUAL INVESTMENT RETURN OF ANNUAL INVESTMENT RETURN OF ANNUAL INVESTMENT RETURN OF
-----6.00% (5.23% NET)----- -----0.00% (-0.73% NET)---- -----6.00% (5.23% NET)-----
NET NET NET NET NET NET
GUIDELINE PREMIUMS ACCUM'D SURR'R DEATH ACCUM'D SURR'R DEATH ACCUM'D SURR'R DEATH
SINGLE PLUS 5% VALUE VALUE BENEFIT VALUE VALUE BENEFIT VALUE VALUE BENEFIT
YEAR PREMIUM INTEREST (EOY) (EOY) (EOY) (EOY) (EOY) (EOY) (EOY) (EOY) (EOY)
==== ========== ======== ======== ======== ======== ======= ======= ======= ======= ======= =======
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 40,000.00 $42,000 $42,000 $41,215 $37,215 $80,042 $38,397 $34,558 $80,042 $40,739
2 0.00 $44,100 $44,100 $42,425 $38,425 $80,042 $36,699 $33,029 $80,042 $41,411
3 0.00 $46,305 $46,305 $43,672 $40,072 $80,042 $34,929 $31,786 $80,042 $42,051
4 0.00 $48,620 $48,620 $44,956 $41,756 $80,042 $33,074 $30,428 $80,042 $42,649
5 0.00 $51,051 $51,051 $46,280 $43,480 $80,042 $31,114 $28,936 $80,042 $43,197
6 0.00 $53,604 $53,604 $47,644 $45,244 $80,042 $29,032 $27,290 $80,042 $43,688
7 0.00 $56,284 $56,284 $49,050 $47,050 $80,042 $26,809 $25,469 $80,042 $44,115
8 0.00 $59,098 $59,098 $50,498 $48,898 $80,042 $24,424 $23,447 $80,042 $44,469
9 0.00 $62,053 $62,053 $52,031 $50,831 $80,042 $21,849 $21,194 $80,042 $44,741
10 0.00 $65,156 $65,156 $53,611 $53,611 $80,042 $19,050 $19,050 $80,042 $44,913
15 0.00 $83,157 $83,157 $64,804 $64,804 $80,042 ## ## ## $44,989
20 0.00 $106,132 $106,132 $78,335 $78,335 $82,252 $37,493
25 0.00 $135,454 $135,454 $94,690 $94,690 $99,425 $5,996
30 0.00 $172,877 $172,877 $114,461 $114,461 $120,184 ##
35 0.00 $220,640 $220,640 $138,394 $138,394 $139,778
</TABLE>
## ADDITIONAL PREMIUM PAYMENTS REQUIRED TO MAINTAIN REQUESTED BENEFITS.
ALL VALUES EXCEPT PREMIUMS, LOANS, LOAN INTEREST AND WITHDRAWALS ARE VALUES AT
THE END OF THE POLICY YEAR. THE 'NET SURRENDER VALUE' IS EQUAL TO THE
ACCUMULATED VALUE, LESS ANY POLICY DEBT AND LESS ANY SURRENDER CHARGES. THE 'NET
DEATH BENEFIT' IS THE POLICY DEATH BENEFIT LESS ANY POLICY DEBT. THE 'NEW LOANS
AND WITHDRAWALS' SHOWN ABOVE DOES NOT INCLUDE ANY LOANS TAKEN TO PAY LOAN
INTEREST.
THE PREMIUM MODE ASSUMED IN THIS ILLUSTRATION IS SINGLE.
SUMMARY PAGES
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
ANY LOANS OR WITHDRAWALS ILLUSTRATED ARE BASED ON CURRENT POLICY CHARGE
ASSUMPTIONS AND MIGHT NOT BE AVAILABLE UNDER GUARANTEED POLICY CHARGE
ASSUMPTIONS.
THIS ILLUSTRATION SHOWS A POLICY LOAN. THE LOAN IS AUTOMATICALLY REPAID FROM THE
GROSS DEATH BENEFIT AT THE DEATH OF THE INSURED, RESULTING IN THE ESTIMATED
PAYMENT TO THE BENEFICIARY OF THE NET DEATH BENEFIT ILLUSTRATED. UPON LAPSE OR
SURRENDER, THE LOAN IS AUTOMATICALLY REPAID, RESULTING IN THE ESTIMATED PAYMENT
TO THE POLICYOWNER OF THE NET SURRENDER AMOUNT. THE AUTOMATIC REPAYMENT OF THE
LOAN DURING A LAPSE OR SURRENDER WILL CAUSE THE RECOGNITION OF TAXABLE INCOME,
TO THE EXTENT THAT THE NET SURRENDER VALUE PLUS THE AMOUNT OF THE REPAID LOAN
EXCEEDS THE POLICY OWNER'S BASIS IN THE POLICY.
THE POLICY WILL LAPSE IF THE ACCUMULATED VALUE LESS POLICY DEBT IS INSUFFICIENT
TO COVER THE CURRENT MONTHLY DEDUCTION ON ANY MONTHLY PAYMENT DATE, AND A GRACE
PERIOD EXPIRES WITHOUT THE POLICY OWNER MAKING A SUFFICIENT PAYMENT. IF THE
POLICY IS INSUFFICIENTLY FUNDED IN RELATION TO THE INCOME STREAM FROM THE
POLICY, THE POLICY CAN LAPSE PREMATURELY AND RESULT IN A SIGNIFICANT INCOME TAX
LIABILITY TO THE OWNER IN THE YEAR IN WHICH THE LAPSE OCCURS.
A POLICY OWNER SHOULD BE CAREFUL TO STRUCTURE A POLICY SO THAT THE POLICY WILL
NOT LAPSE PREMATURELY UNDER VARIOUS MARKET SCENARIOS AS A RESULT OF WITHDRAWALS
AND/OR LOANS TAKEN FROM THE POLICY. THE POLICY OWNER SHOULD ALSO REQUEST AT
LEAST ANNUALLY A REVISED ILLUSTRATION THAT REFLECTS CURRENT POLICY VALUES TO
ASSURE THAT THE POLICY IS SUFFICIENTLY FUNDED TO SUPPORT A DESIRED INCOME
STREAM, IF ANY.
INITIAL GUIDELINE SINGLE PREMIUM: $40,000.00
INITIAL GUIDELINE LEVEL PREMIUM: $3,393.99
INITIAL SEVEN PAY PREMIUM: $5,954.88
THIS IS AN ILLUSTRATION AND NOT A CONTRACT. ALTHOUGH THE INFORMATION CONTAINED
IN THIS ILLUSTRATION IS BASED ON CERTAIN TAX AND LEGAL ASSUMPTIONS, IT IS NOT
INTENDED TO BE TAX OR LEGAL ADVICE. SUCH ADVICE SHOULD BE OBTAINED FROM
APPLICANT'S OWN COUNSEL OR OTHER ADVISOR.
THIS ILLUSTRATION MUST BE PRECEDED OR ACCOMPANIED BY THE CURRENT PROSPECTUSES
FOR THE SEPARATE ACCOUNT AND THE FUND. READ THE PROSPECTUSES CAREFULLY BEFORE
INVESTING OR SENDING MONEY.
---ASSUMED TAX BRACKET---
START END AMOUNT
1 35 31.00
THE 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.
VALUES ILLUSTRATED UNDER THE GUARANTEED POLICY CHARGE COLUMNS ASSUME MAXIMUM
COST OF INSURANCE RATES. CURRENT COST OF INSURANCE RATES FOR THE BASE COVERAGE
ARE GUARANTEED FOR THE FIRST 5 YEARS.
HYPOTHETICAL FUTURE VALUES ARE BASED ON CURRENT COST OF INSURANCE RATES AND
HYPOTHETICAL GROSS EARNINGS RATE ASSUMPTIONS AS DESCRIBED BELOW.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
THIS ILLUSTRATION ASSUMES THAT ALL PREMIUMS HAVE BEEN ALLOCATED TO THE VARIABLE
ACCOUNTS. THE HYPOTHETICAL RATES OF RETURN AND VALUES SHOWN ARE ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED AS A REPRESENTATION OF PAST OR FUTURE INVESTMENT
RESULTS. THE ILLUSTRATED POLICY VALUES MIGHT NOT BE ACHIEVED IF ACTUAL RATES OF
RETURN OR POLICY CHARGES DIFFER FROM THOSE ASSUMED. ACTUAL RATES OF RETURN MAY
BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS
INCLUDING THE INVESTMENT ALLOCATIONS MADE TO THE VARIABLE ACCOUNTS BY AN OWNER
AND THE EXPERIENCE OF THE ACCOUNTS. NO REPRESENTATION CAN BE MADE BY PACIFIC
LIFE, THE SEPARATE ACCOUNT, OR THE FUND THAT THESE HYPOTHETICAL RATES OF RETURN
CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME.
YOU HAVE REQUESTED THAT THIS ILLUSTRATION REFLECT YOUR SELECTION OF UNDERLYING
PORTFOLIOS. THE AMOUNTS SHOWN FOR THE DEATH BENEFITS, ACCUMULATED VALUES AND
CASH SURRENDER VALUES IN THIS ILLUSTRATION REFLECT YOUR SELECTION OF UNDERLYING
PORTFOLIOS AND ACTUAL FUND EXPENSES (EXCLUDING ANY FOREIGN TAXES) INCURRED BY
THE PORTFOLIOS FOR THE YEAR ENDING DECEMBER 31, 2000.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
UNDERLYING PORTFOLIOS
<TABLE>
<CAPTION>
Investment
Advisory Operating
Portfolio Fee Expenses
---------------------------------------------------
<S> <C> <C>
Aggressive Equity 0.80% 0.04%
Aggressive Growth 1.00% 0.06%
Blue Chip 0.95% 0.06%
Capital Opportunities 0.80% 0.06%
Diversified Research 0.90% 0.10%
Emerging Markets 1.10% 0.19%
Equity 0.65% 0.04%
Equity Income 0.65% 0.04%
Equity Index 0.25% 0.04%
Financial Services 1.10% 0.10%
Focused 30 0.95% 0.10%
Global Growth 1.10% 0.19%
Government Securities 0.60% 0.05%
Growth LT 0.75% 0.04%
Health Sciences 1.10% 0.10%
High Yield Bond 0.60% 0.04%
I-Net Tollkeeper 1.50% 0.10%
International Large-Cap 1.05% 0.13%
International Value 0.85% 0.11%
Large-Cap Value 0.85% 0.05%
Managed Bond 0.60% 0.05%
Mid-Cap Growth 0.90% 0.06%
Mid-Cap Value 0.85% 0.04%
Money Market 0.34% 0.04%
Multi-Strategy 0.65% 0.04%
REIT 1.10% 0.05%
Small-Cap Equity 0.65% 0.04%
Small-Cap Index 0.50% 0.11%
Strategic Value 0.95% 0.10%
Technology 1.10% 0.08%
Telecommunications 1.10% 0.08%
</TABLE>
YOU HAVE SELECTED ALLOCATIONS IN THE UNDERLYING PORTFOLIOS THAT REFLECT THE
WEIGHTED AVERAGE ANNUAL EXPENSES OF ALL THE AVAILABLE UNDERLYING PORTFOLIOS AS
OF DECEMBER 31, 2000. THE AVERAGE ANNUAL EXPENSES WEIGHTED ACCORDING TO YOUR
SELECTION IS EQUIVALENT TO AN ANNUAL RATE OF 0.68% FOR INVESTMENT ADVISORY FEES
AND 0.05% FOR OPERATING EXPENSES (AFTER ANY OFFSET FOR CUSTODIAN CREDITS AND
EXCLUDING ANY FOREIGN TAXES) WHICH AMOUNTS TO A TOTAL OF 0.73%. THE INVESTMENT
ADVISORY NET FEES AND OPERATING EXPENSES FOR THE UNDERLYING VARIABLE INVESTMENT
OPTIONS REFLECT FEES AND EXPENSES INCURRED BY THE PORTFOLIOS FOR THE YEAR ENDING
DECEMBER 31, 2000, ADJUSTED TO REFLECT A DECREASE IN CUSTODIAL FEES. OPERATING
EXPENSES FOR AGGRESSIVE GROWTH, BLUE CHIP, CAPITAL OPPORTUNITIES, FINANCIAL
SERVICES, GLOBAL GROWTH, HEALTH SCIENCES, MID-CAP GROWTH, TECHNOLOGY, AND
TELECOMMUNICATIONS ARE ESTIMATED. THE SMALL-CAP EQUITY PORTFOLIO WAS FORMERLY
CALLED THE GROWTH PORTFOLIO. THE INTERNATIONAL VALUE PORTFOLIO WAS FORMERLY
CALLED THE INTERNATIONAL PORTFOLIO. PLEASE NOTE: NET PREMIUMS AND POLICY
ACCUMULATED VALUE MAY BE INVESTED IN UP TO TWENTY (20) INVESTMENT OPTIONS AT ONE
TIME.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
THE AVERAGE ANNUAL EXPENSES FOR ALL AVAILABLE UNDERLYING PORTFOLIOS FOR THE
YEAR ENDING DECEMBER 31, 2000 REFLECT AN AVERAGE DAILY INVESTMENT ADVISORY
FEE EQUIVALENT TO AN ANNUAL RATE OF 0.85% OF THE AGGREGATE AVERAGE DAILY NET
ASSETS OF THE FUND. THEY ALSO REFLECT OPERATING EXPENSES (AFTER ANY OFFSET
FOR CUSTODIAN CREDITS AND EXCLUDING ANY FOREIGN TAXES) AT AN ANNUAL RATE OF
0.07% OF THE AGGREGATE AVERAGE DAILY NET ASSETS OF THE UNDERLYING PORTFOLIOS.
THE TOTAL AGGREGATE AVERAGE ANNUAL EXPENSES FOR THE YEAR ENDING DECEMBER 31,
2000 (INCLUDING INVESTMENT ADVISORY FEES AND EXCLUDING ANY FOREIGN TAXES) IS
0.92%.
THE HYPOTHETICAL GROSS ANNUAL EARNINGS RATE ASSUMPTION IS AFTER BROKERAGE
EXPENSES AND ANY FOREIGN TAXES. A PORTFOLIO'S FOREIGN INVESTMENTS 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 AS AN
EXPENSE.
THE AMOUNTS SHOWN FOR THE DEATH BENEFITS, ACCUMULATED VALUES AND CASH SURRENDER
VALUES REFLECT THE FACT THAT THE NET INVESTMENT RETURN ON THE VARIABLE ACCOUNTS
IS LOWER THAN THE GROSS RETURN ON THE ASSETS AS A RESULT OF CHARGES LEVIED
AGAINST THE ACCOUNTS.
AFTER DEDUCTION OF THESE AMOUNTS, HYPOTHETICAL ILLUSTRATED GROSS ANNUAL
INVESTMENT RETURNS OF 0.00% AND 6.00% CORRESPOND TO APPROXIMATE NET ANNUAL RATES
OF RETURN OF -0.73% AND 5.23% RESPECTIVELY.
NO CHARGE IS CURRENTLY IMPOSED UPON A TRANSFER OF ACCUMULATED VALUE BETWEEN
ACCOUNTS. HOWEVER, PACIFIC LIFE MAY ASSESS SUCH A CHARGE AT A FUTURE DATE
INTEREST IS CHARGED ON POLICY LOANS AT AN EFFECTIVE ANNUAL RATE OF 3.25% IN
ARREARS. INTEREST IS CREDITED TO THE PORTION OF THE ACCUMULATED VALUE SECURING
THE POLICY LOAN AT AN EFFECTIVE ANNUAL RATE OF 3.00%
POLICY LOANS AND/OR WITHDRAWALS MAY HAVE AN ADVERSE EFFECT ON THE POLICY OWNER'S
BENEFITS.
---DEATH BENEFIT OPTION---
START END OPTION
1 35 LEVEL
---BASE POLICY FACE AMOUNT---
START END AMOUNT
1 35 80,042
FUTURE ACTION REQUIRED BY POLICY OWNER
If you want to change the premium amount that you are billed, you must request
the change in writing.
Policy loans or partial withdrawals are illustrated. A written request must be
submitted by the policy owner at the start of the policy year indicated to
receive the partial withdrawal or loan illustrated.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
DECREASES IN ART RIDER AMOUNTS MUST BE REQUESTED AT THE TIME OF THE DECREASE.
WHEN THE DEATH BENEFIT IS GREATER THAN THE FACE AMOUNT DUE TO ACCUMULATED VALUE
GROWTH, PAYMENT OF ADDITIONAL PREMIUM WILL BE SUBJECT TO APPROVAL.
UNDER CURRENT FEDERAL TAX LAW, THIS POLICY WILL QUALIFY AS LIFE INSURANCE ONLY
IF THE SUM OF PREMIUMS PAID AT ANY TIME DOES NOT EXCEED THE GREATER OF THE
GUIDELINE SINGLE PREMIUM OR THE SUM OF THE GUIDELINE LEVEL PREMIUMS AT SUCH
TIME. THE GUIDELINE PREMIUMS WILL CHANGE WHENEVER THERE IS A CHANGE IN THE FACE
AMOUNT OF INSURANCE OR IN OTHER POLICY BENEFITS
BASED ON OUR UNDERSTANDING OF THE INTERNAL REVENUE CODE AND THE ASSUMPTIONS IN
THIS ILLUSTRATION, THIS POLICY WOULD NOT BECOME A MODIFIED ENDOWMENT CONTRACT
(MEC). THE FEDERAL INCOME TAX CONSEQUENCES OF A MEC CAN BE SIGNIFICANT.
CONSULT YOUR TAX ADVISOR FOR FURTHER DETAILS.
ALL VALUES ASSUME PREMIUMS AND LOAN INTEREST ARE PAID WHEN DUE. IF A PAYMENT IS
RECEIVED WITHOUT BEING DESIGNATED AS A PREMIUM PAYMENT OR LOAN PAYMENT, AND
THERE IS AN OUTSTANDING LOAN, THE PAYMENT WILL BE APPLIED AS A LOAN PAYMENT.
THIS ILLUSTRATION WAS PREPARED FOR PRESENTATION IN THE STATE OF CALIFORNIA.
PACIFIC SELECT ESTATE MAXIMIZER IS DISTRIBUTED BY
Pacific Select Distributors, Inc.,
MEMBER NASD & SIPC, A SUBSIDIARY OF PACIFIC LIFE INSURANCE COMPANY
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
ILLUSTRATION 4
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Pacific Life
Producer
SUMMARY PAGE
<TABLE>
<CAPTION>
---CURRENT POLICY CHARGES--- -----------------GUARANTEED POLICY CHARGES---------------
ASSUMING HYPOTHETICAL GROSS ASSUMING HYPOTHETICAL GROSS ASSUMING HYPOTHETICAL GROSS
ANNUAL INVESTMENT RETURN OF ANNUAL INVESTMENT RETURN OF ANNUAL INVESTMENT RETURN OF
----12.00% (11.18% NET)---- -----0.00% (-0.73% NET)---- ----12.00% (11.18% NET)----
NET NET NET NET NET NET
GUIDELINE PREMIUMS ACCUM'D SURR'R DEATH ACCUM'D SURR'R DEATH ACCUM'D SURR'R DEATH
SINGLE PLUS 5% VALUE VALUE BENEFIT VALUE VALUE BENEFIT VALUE VALUE BENEFIT
YEAR PREMIUM INTEREST (EOY) (EOY) (EOY) (EOY) (EOY) (EOY) (EOY) (EOY) (EOY)
==== ========== ======== ======= ======= ======= ======= ====== ======= ======= ====== =======
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 40,000.00 $42,000 $43,548 $39,548 $80,042 $38,397 $34,558 $80,042 $43,081 $39,081 $80,042
2 0.00 $44,100 $47,366 $43,366 $80,042 $36,699 $33,029 $80,042 $46,406 $42,406 $80,042
3 0.00 $46,305 $51,523 $47,923 $80,042 $34,929 $31,786 $80,042 $50,051 $46,451 $80,042
4 0.00 $48,620 $56,093 $52,893 $80,042 $33,074 $30,428 $80,042 $54,061 $50,861 $80,042
5 0.00 $51,051 $61,068 $58,268 $80,042 $31,114 $28,936 $80,042 $58,537 $55,737 $80,042
6 0.00 $53,604 $66,484 $64,084 $80,042 $29,032 $27,290 $80,042 $63,507 $61,107 $80,042
7 0.00 $56,284 $72,380 $70,380 $86,132 $26,809 $25,469 $80,042 $69,047 $67,047 $82,166
8 0.00 $59,098 $78,799 $77,199 $92,983 $24,424 $23,447 $80,042 $75,117 $73,517 $88,638
9 0.00 $62,053 $85,788 $84,588 $100,372 $21,849 $21,194 $80,042 $81,707 $80,507 $95,597
10 0.00 $65,156 $93,396 $93,396 $108,339 $19,050 $19,050 $80,042 $88,860 $88,860 $103,078
15 0.00 $83,157 $148,677 $148,677 $159,084 ## ## ## $139,794 $139,794 $149,579
20 0.00 $106,132 $236,678 $236,678 $248,512 $221,451 $221,451 $232,523
25 0.00 $135,454 $376,766 $376,766 $395,604 $346,887 $346,887 $364,231
30 0.00 $172,877 $599,772 $599,772 $629,761 $534,020 $534,020 $560,721
35 0.00 $220,640 $955,017 $955,017 $964,567 $829,746 $829,746 $838,044
</TABLE>
## ADDITIONAL PREMIUM PAYMENTS REQUIRED TO MAINTAIN REQUESTED BENEFITS.
ALL VALUES EXCEPT PREMIUMS, LOANS, LOAN INTEREST AND WITHDRAWALS ARE VALUES AT
THE END OF THE POLICY YEAR. THE 'NET SURRENDER VALUE' IS EQUAL TO THE
ACCUMULATED VALUE, LESS ANY POLICY DEBT AND LESS ANY SURRENDER CHARGES. THE 'NET
DEATH BENEFIT' IS THE POLICY DEATH BENEFIT LESS ANY POLICY DEBT. THE 'NEW LOANS
AND WITHDRAWALS' SHOWN ABOVE DOES NOT INCLUDE ANY LOANS TAKEN TO PAY LOAN
INTEREST.
THE PREMIUM MODE ASSUMED IN THIS ILLUSTRATION IS SINGLE.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
ANY LOANS OR WITHDRAWALS ILLUSTRATED ARE BASED ON CURRENT POLICY CHARGE
ASSUMPTIONS AND MIGHT NOT BE AVAILABLE UNDER GUARANTEED POLICY CHARGE
ASSUMPTIONS.
THIS ILLUSTRATION SHOWS A POLICY LOAN. THE LOAN IS AUTOMATICALLY REPAID FROM THE
GROSS DEATH BENEFIT AT THE DEATH OF THE INSURED, RESULTING IN THE ESTIMATED
PAYMENT TO THE BENEFICIARY OF THE NET DEATH BENEFIT ILLUSTRATED. UPON LAPSE OR
SURRENDER, THE LOAN IS AUTOMATICALLY REPAID, RESULTING IN THE ESTIMATED PAYMENT
TO THE POLICYOWNER OF THE NET SURRENDER AMOUNT. THE AUTOMATIC REPAYMENT OF THE
LOAN DURING A LAPSE OR SURRENDER WILL CAUSE THE RECOGNITION OF TAXABLE INCOME,
TO THE EXTENT THAT THE NET SURRENDER VALUE PLUS THE AMOUNT OF THE REPAID LOAN
EXCEEDS THE POLICY OWNER'S BASIS IN THE POLICY.
THE POLICY WILL LAPSE IF THE ACCUMULATED VALUE LESS POLICY DEBT IS INSUFFICIENT
TO COVER THE CURRENT MONTHLY DEDUCTION ON ANY MONTHLY PAYMENT DATE, AND A GRACE
PERIOD EXPIRES WITHOUT THE POLICY OWNER MAKING A SUFFICIENT PAYMENT. IF THE
POLICY IS INSUFFICIENTLY FUNDED IN RELATION TO THE INCOME STREAM FROM THE
POLICY, THE POLICY CAN LAPSE PREMATURELY AND RESULT IN A SIGNIFICANT INCOME TAX
LIABILITY TO THE OWNER IN THE YEAR IN WHICH THE LAPSE OCCURS.
A POLICY OWNER SHOULD BE CAREFUL TO STRUCTURE A POLICY SO THAT THE POLICY WILL
NOT LAPSE PREMATURELY UNDER VARIOUS MARKET SCENARIOS AS A RESULT OF WITHDRAWALS
AND/OR LOANS TAKEN FROM THE POLICY. THE POLICY OWNER SHOULD ALSO REQUEST AT
LEAST ANNUALLY A REVISED ILLUSTRATION THAT REFLECTS CURRENT POLICY VALUES TO
ASSURE THAT THE POLICY IS SUFFICIENTLY FUNDED TO SUPPORT A DESIRED INCOME
STREAM, IF ANY.
INITIAL GUIDELINE SINGLE PREMIUM: $40,000.00
INITIAL GUIDELINE LEVEL PREMIUM: $3,393.99
INITIAL SEVEN PAY PREMIUM: $8,954.88
THIS IS AN ILLUSTRATION AND NOT A CONTRACT. ALTHOUGH THE INFORMATION CONTAINED
IN THIS ILLUSTRATION IS BASED ON CERTAIN TAX AND LEGAL ASSUMPTIONS, IT IS NOT
INTENDED TO BE TAX OR LEGAL ADVICE. SUCH ADVICE SHOULD BE OBTAINED FROM
APPLICANT'S OWN COUNSEL OR OTHER ADVISOR.
THIS ILLUSTRATION MUST BE PRECEDED OR ACCOMPANIED BY THE CURRENT PROSPECTUSES
FOR THE SEPARATE ACCOUNT AND THE FUND. READ THE PROSPECTUSES CAREFULLY BEFORE
INVESTING OR SENDING MONEY.
---ASSUMED TAX BRACKET---
START END AMOUNT
1 35 31.00
THE 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.
VALUES ILLUSTRATED UNDER THE GUARANTEED POLICY CHARGE COLUMNS ASSUME MAXIMUM
COST OF INSURANCE RATES. CURRENT COST OF INSURANCE RATES FOR THE BASE COVERAGE
ARE GUARANTEED FOR THE FIRST 5 YEARS.
HYPOTHETICAL FUTURE VALUES ARE BASED ON CURRENT COST OF INSURANCE RATES AND
HYPOTHETICAL GROSS EARNINGS RATE ASSUMPTIONS AS DESCRIBED BELOW.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
THIS ILLUSTRATION ASSUMES THAT ALL PREMIUMS HAVE BEEN ALLOCATED TO THE VARIABLE
ACCOUNTS. THE HYPOTHETICAL RATES OF RETURN AND VALUES SHOWN ARE ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED AS A REPRESENTATION OF PAST OR FUTURE INVESTMENT
RESULTS. THE ILLUSTRATED POLICY VALUES MIGHT NOT BE ACHIEVED IF ACTUAL RATES OF
RETURN OR POLICY CHARGES DIFFER FROM THOSE ASSUMED. ACTUAL RATES OF RETURN MAY
BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS
INCLUDING THE INVESTMENT ALLOCATIONS MADE TO THE VARIABLE ACCOUNTS BY AN OWNER
AND THE EXPERIENCE OF THE ACCOUNTS. NO REPRESENTATION CAN BE MADE BY PACIFIC
LIFE, THE SEPARATE ACCOUNT, OR THE FUND THAT THESE HYPOTHETICAL RATES OF RETURN
CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME.
YOU HAVE REQUESTED THAT THIS ILLUSTRATION REFLECT YOUR SELECTION OF UNDERLYING
PORTFOLIOS. THE AMOUNTS SHOWN FOR THE DEATH BENEFITS, ACCUMULATED VALUES AND
CASH SURRENDER VALUES IN THIS ILLUSTRATION REFLECT YOUR SELECTION OF UNDERLYING
PORTFOLIOS AND ACTUAL FUND EXPENSES (EXCLUDING ANY FOREIGN TAXES) INCURRED BY
THE PORTFOLIOS FOR THE YEAR ENDING DECEMBER 31, 2000.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
UNDERLYING PORTFOLIOS
<TABLE>
<CAPTION>
Investment
Advisory Operating
Portfolio Fee Expenses
---------------------------------------------------
<S> <C> <C>
Aggressive Equity 0.80% 0.04%
Aggressive Growth 1.00% 0.06%
Blue Chip 0.95% 0.06%
Capital Opportunities 0.80% 0.06%
Diversified Research 0.90% 0.10%
Emerging Markets 1.10% 0.19%
Equity 0.65% 0.04%
Equity Income 0.65% 0.04%
Equity Index 0.25% 0.04%
Financial Services 1.10% 0.10%
Focused 30 0.95% 0.10%
Global Growth 1.10% 0.19%
Government Securities 0.60% 0.05%
Growth LT 0.75% 0.04%
Health Sciences 1.10% 0.10%
High Yield Bond 0.60% 0.04%
I-Net Tollkeeper 1.50% 0.10%
International Large-Cap 1.05% 0.13%
International Value 0.85% 0.11%
Large-Cap Value 0.85% 0.05%
Managed Bond 0.60% 0.05%
Mid-Cap Growth 0.90% 0.06%
Mid-Cap Value 0.85% 0.04%
Money Market 0.34% 0.04%
Multi-Strategy 0.65% 0.04%
REIT 1.10% 0.05%
Small-Cap Equity 0.65% 0.04%
Small-Cap Index 0.50% 0.11%
Strategic Value 0.95% 0.10%
Technology 1.10% 0.08%
Telecommunications 1.10% 0.08%
</TABLE>
YOU HAVE SELECTED ALLOCATIONS IN THE UNDERLYING PORTFOLIOS THAT REFLECT THE
WEIGHTED AVERAGE ANNUAL EXPENSES OF ALL THE AVAILABLE UNDERLYING PORTFOLIOS AS
OF DECEMBER 31, 2000. AVERAGE ANNUAL EXPENSES WEIGHTED ACCORDING TO YOUR
SELECTION IS EQUIVALENT TO AN ANNUAL RATE OF 0.68% FOR INVESTMENT ADVISORY FEES
AND 0.05% FOR OPERATING EXPENSES (AFTER ANY OFFSET FOR CUSTODIAN CREDITS AND
EXCLUDING ANY FOREIGN TAXES) WHICH AMOUNTS TO A TOTAL OF 0.73%. THE INVESTMENT
ADVISORY NET FEES AND OPERATING EXPENSES FOR THE UNDERLYING VARIABLE INVESTMENT
OPTIONS REFLECT FEES AND EXPENSES INCURRED BY THE PORTFOLIOS FOR THE YEAR ENDING
DECEMBER 31, 2000, ADJUSTED TO REFLECT A DECREASE IN CUSTODIAL FEES. OPERATING
EXPENSES FOR AGGRESSIVE GROWTH, BLUE CHIP, CAPITAL OPPORTUNITIES, FINANCIAL
SERVICES, GLOBAL GROWTH, HEALTH SCIENCES, MID-CAP GROWTH, TECHNOLOGY, AND
TELECOMMUNICATIONS ARE ESTIMATED. THE SMALL-CAP EQUITY PORTFOLIO WAS FORMERLY
CALLED THE GROWTH PORTFOLIO. THE INTERNATIONAL VALUE PORTFOLIO WAS FORMERLY
CALLED THE INTERNATIONAL PORTFOLIO. PLEASE NOTE: NET PREMIUMS AND POLICY
ACCUMULATED VALUE MAY BE INVESTED IN UP TO TWENTY (20) INVESTMENT OPTIONS AT ONE
TIME.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
THE AVERAGE ANNUAL EXPENSES FOR ALL AVAILABLE UNDERLYING PORTFOLIOS FOR THE
YEAR ENDING DECEMBER 31, 2000 REFLECT AN AVERAGE DAILY INVESTMENT ADVISORY
FEE EQUIVALENT TO AN ANNUAL RATE OF 0.85% OF THE AGGREGATE AVERAGE DAILY NET
ASSETS OF THE FUND. THEY ALSO REFLECT OPERATING EXPENSES (AFTER ANY OFFSET
FOR CUSTODIAN CREDITS AND EXCLUDING ANY FOREIGN TAXES) AT AN ANNUAL RATE OF
0.07% OF THE AGGREGATE AVERAGE DAILY NET ASSETS OF THE UNDERLYING PORTFOLIOS.
THE TOTAL AGGREGATE AVERAGE ANNUAL EXPENSES FOR THE YEAR ENDING DECEMBER 31,
2000 (INCLUDING INVESTMENT ADVISORY FEES AND EXCLUDING ANY FOREIGN TAXES) IS
0.92%.
THE HYPOTHETICAL GROSS ANNUAL EARNINGS RATE ASSUMPTION IS AFTER BROKERAGE
EXPENSES AND ANY FOREIGN TAXES. A PORTFOLIO'S FOREIGN INVESTMENTS 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 AS AN
EXPENSE.
THE AMOUNTS SHOWN FOR THE DEATH BENEFITS, ACCUMULATED VALUES AND CASH SURRENDER
VALUES REFLECT THE FACT THAT THE NET INVESTMENT RETURN ON THE VARIABLE ACCOUNTS
IS LOWER THAN THE GROSS RETURN ON THE ASSETS AS A RESULT OF CHARGES LEVIED
AGAINST THE ACCOUNTS.
AFTER DEDUCTION OF THESE AMOUNTS, HYPOTHETICAL ILLUSTRATED GROSS ANNUAL
INVESTMENT RETURNS OF 0.00% AND 12.00% CORRESPOND TO APPROXIMATE NET ANNUAL
RATES OF RETURN OF -0.73% AND 11.18% RESPECTIVELY.
NO CHARGE IS CURRENTLY IMPOSED UPON A TRANSFER OF ACCUMULATED VALUE BETWEEN
ACCOUNTS. HOWEVER, PACIFIC LIFE MAY ASSESS SUCH A CHARGE AT A FUTURE DATE
INTEREST IS CHARGED ON POLICY LOANS AT AN EFFECTIVE ANNUAL RATE OF 3.25% IN
ARREARS. INTEREST IS CREDITED TO THE PORTION OF THE ACCUMULATED VALUE SECURING
THE POLICY LOAN AT AN EFFECTIVE ANNUAL RATE OF 3.00%
POLICY LOANS AND/OR WITHDRAWALS MAY HAVE AN ADVERSE EFFECT ON THE POLICY OWNER'S
BENEFITS.
---DEATH BENEFIT OPTION---
START END OPTION
1 35 LEVEL
---BASE POLICY FACE AMOUNT---
START END AMOUNT
1 35 80,042
FUTURE ACTION REQUIRED BY POLICY OWNER
If you want to change the premium amount that you are billed, you must request
the change in writing.
Policy loans or partial withdrawals are illustrated. A written request must be
submitted by the policy owner at the start of the policy year indicated to
receive the partial withdrawal or loan illustrated.
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
<PAGE>
PACIFIC SELECT ESTATE MAXIMIZER - GPT (FORM 97-50)
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE
CLIENT PREMIUMS ALLOCATED TO VARIABLE ACCOUNT
SELECT NON-SMOKER MALE AGE 60 PRESENTED BY Producer
DECREASES IN ART RIDER AMOUNTS MUST BE REQUESTED AT THE TIME OF THE DECREASE.
WHEN THE DEATH BENEFIT IS GREATER THAN THE FACE AMOUNT DUE TO ACCUMULATED VALUE
GROWTH, PAYMENT OF ADDITIONAL PREMIUM WILL BE SUBJECT TO APPROVAL.
UNDER CURRENT FEDERAL TAX LAW, THIS POLICY WILL QUALIFY AS LIFE INSURANCE ONLY
IF THE SUM OF PREMIUMS PAID AT ANY TIME DOES NOT EXCEED THE GREATER OF THE
GUIDELINE SINGLE PREMIUM OR THE SUM OF THE GUIDELINE LEVEL PREMIUMS AT SUCH
TIME. THE GUIDELINE PREMIUMS WILL CHANGE WHENEVER THERE IS A CHANGE IN THE FACE
AMOUNT OF INSURANCE OR IN OTHER POLICY BENEFITS
BASED ON OUR UNDERSTANDING OF THE INTERNAL REVENUE CODE AND THE ASSUMPTIONS IN
THIS ILLUSTRATION, THIS POLICY WOULD NOT BECOME A MODIFIED ENDOWMENT CONTRACT
(MEC). THE FEDERAL INCOME TAX CONSEQUENCES OF A MEC CAN BE SIGNIFICANT.
CONSULT YOUR TAX ADVISOR FOR FURTHER DETAILS.
ALL VALUES ASSUME PREMIUMS AND LOAN INTEREST ARE PAID WHEN DUE. IF A PAYMENT IS
RECEIVED WITHOUT BEING DESIGNATED AS A PREMIUM PAYMENT OR LOAN PAYMENT, AND
THERE IS AN OUTSTANDING LOAN, THE PAYMENT WILL BE APPLIED AS A LOAN PAYMENT.
THIS ILLUSTRATION WAS PREPARED FOR PRESENTATION IN THE STATE OF CALIFORNIA.
PACIFIC SELECT ESTATE MAXIMIZER IS DISTRIBUTED BY
Pacific Select Distributors, Inc.,
MEMBER NASD & SIPC, A SUBSIDIARY OF PACIFIC LIFE INSURANCE COMPANY
THIS ILLUSTRATION SHOWS HOW THE PERFORMANCE OF THE UNDERLYING VARIABLE
INVESTMENT OPTIONS COULD AFFECT THE POLICY VALUES AND DEATH BENEFIT. THE
INFORMATION IS HYPOTHETICAL AND MAY NOT BE USED TO PREDICT INVESTMENT RESULTS.
PLEASE REFER TO THE SUMMARY PAGE FOR A FULL EXPLANATION OF FEES AND EXPENSES.
PACIFIC LIFE INSURANCE COMPANY
SUMMARY PAGES
VERSION TIME GPT - NONGI DATE PAGE OF
