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PACIFIC SELECT EXEC
Flexible Premium Variable Insurance Policy
Issued by Pacific Life Insurance Company
Supplement dated June 14, 2000 to
Prospectus dated May 1, 2000
This supplement changes the prospectus to reflect the
following:
Making withdrawals The last paragraph is replaced with:
is revised
We may limit the amount of a withdrawal so that the
withdrawal will not cause your face amount to be less than
$50,000.
Taking out a loan The second and third bullet paragraphs are replaced with:
is revised
. Interest owing on the amount you've borrowed accrues at
an annual rate of 4.75% during the first 10 policy years
and 4.25% thereafter. Interest that has accrued during
the policy year is due on your policy anniversary. If
you do not pay the interest when it's due, we'll add it
to the amount of your loan and begin accruing interest
on it from the day it was due. We'll also transfer an
amount equal to the interest that was due, from your
policy's accumulated value to the loan account. We'll
transfer this amount from your investment options in
proportion to the accumulated value you have in each
option, unless you tell us otherwise.
. The amount in the loan account earns interest daily at
an annual rate of 4.0%. On your policy anniversary, we
transfer the interest that's been credited to the loan
account proportionately to your investment options
according to your most recent allocation instructions.
How much you can borrow is revised to read:
The minimum amount you can borrow is $500, unless there are
other restrictions in your state. You can borrow up to the
larger of the following amounts:
. 90% of the accumulated value in the investment options,
less any surrender charges that would apply if you
surrendered your policy on the day you took out the loan
. the result of a x (b / c) - d, where:
a = the accumulated value of your policy less any
surrender charges that would have applied if you
surrendered your policy on the day you took out
the loan, and less 12 times the most recent
monthly charge
b = 1.04
c = 1.0475 during the first 10 policy years, and
1.0425 during policy year 11 and thereafter
d = any outstanding loan amount.
FORM NO. 15-22328-01
