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PACIFIC SELECT EXEC
Flexible Premium Variable Insurance Policy
Issued by Pacific Life Insurance Company
Supplement dated May 11, 2000 to
Prospectus dated May 1, 2000
This supplement changes the prospectus to reflect
the following:
Taking out a loan is The second and third bullet paragraphs are replaced
revised with:
. 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. 15-22328-00
