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PACIFIC ONE
Individual Flexible Premium Deferred Variable Annuity Contract
Issued by Pacific Life Insurance Company
Supplement dated December 17, 1999 to
Prospectus dated May 1, 1999
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This supplement changes the Prospectus to reflect the following effective
January 1, 2000:
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Two New Variable Investment The two new Variable Investment Options are added to the list on page 1 of the
Options Are Available Prospectus.
. Diversified Research
. International Large-Cap
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The Growth Variable Account Is As of October 1, 1999, the Growth Variable Account is available as an
Added as a Variable Investment additional Variable Investment Option. The Growth Variable Account invests in
Option the Growth Portfolio of the Fund. References to the 17 Variable Investment
Options or Subaccounts throughout the Prospectus are changed to refer to 20
Variable Investment Options or Subaccounts.
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The Names of Two Variable The Growth Variable Investment Option is now called the Small-Cap Equity
Investment Options Are Changed Variable Investment Option.
The International Variable Investment Option is now called the International
Value Variable Investment Option.
These new names reflect the change in name of the underlying Portfolios of
Pacific Select Fund. Throughout the Prospectus or supplement thereof, any
reference to the Growth or International Portfolio, Subaccount or Variable
Investment Option is changed to refer to the Small-Cap Equity or International
Value Portfolio, Subaccount or Variable Investment Option, respectively.
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An Overview of Pacific One The following is added to the chart under Fees and Expenses Paid by the Pacific
Is Amended Select Fund:
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Portfolio Advisory Fee Other Expenses Total Expenses+
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Diversified Research* 0.90% 0.05% 0.95%
International Large-Cap* 1.05% 0.15% 1.20%
Small-Cap Equity 0.65% 0.05% 0.70%
* Expenses are estimated. There were no actual advisory fees or other expenses
for these Portfolios in 1998 because the Portfolios started on January 3,
2000. See page 7 of the Prospectus for information about expense caps through
December 31, 2000 for these Portfolios.
+ Effective January 1, 2000, the Fund will implement a brokerage enhancement
12b-1 plan, under which brokerage transactions may be placed with broker-
dealers in return for credits that may be used to help promote distribution
of Fund shares. There are no fees or charges to any Portfolio under this
plan, although the Fund's Distributor may defray expenses which it would
otherwise incur for distribution. If you assume the credits are a direct Fund
expense, the expense would have no effect on Other Expenses shown above.
The expenses for Equity Index in the chart under Fees and Expenses Paid by the
Pacific Select Fund are replaced with the following:
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Portfolio Advisory Fee Other Expenses Total Expenses+
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Equity Index 0.25% 0.05% 0.30%
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The following is added to Examples:
The following table shows the expenses you would pay on each $1,000 you
invested if, at the end of each period, you: annuitized your Contract,
surrendered your Contract and withdrew the Contract Value, or did not annuitize
or surrender, but left the money in your Contract.
These examples assume the following:
. the Contract Value starts at $80,000
. the Investment Options have an annual return of 5%
. the Annual Fee is deducted even when the Contract Value goes over $100,000
and a waiver would normally apply.
without rider reflects the expenses you would pay if you did not buy the
optional Enhanced Guaranteed Minimum Death Benefit Rider.
with rider reflects expenses you would pay if you bought the optional Enhanced
Guaranteed Minimum Death Benefit Rider. These expenses depend on the age of the
youngest Annuitant on the Contract Date.
These examples do not show past or future expenses. Your actual expenses in any
year may be more or less than those shown here.
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Expenses ($)
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Variable Account 1 yr 3 yr 5 yr 10 yr
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Diversified Research
without rider 24 75 128 273
with rider: age 0-65 25 78 133 283
with rider: age 66-75 27 84 143 302
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Small-Cap Equity
without rider 22 67 115 247
with rider: age 0-65 23 70 120 257
with rider: age 66-75 25 76 130 278
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International Large-Cap
without rider 27 75 140 297
with rider: age 0-65 28 78 145 307
with rider: age 66-75 30 84 155 326
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Equity Index
without rider 18 55 95 205
with rider: age 0-65 19 58 100 216
with rider: age 66-75 21 64 110 237
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The Following Portfolios Have New Alliance Capital Management L.P. is the Portfolio Manager of the Emerging
Portfolio Managers Markets Portfolio.
Mercury Asset Management US is the Portfolio Manager of the Equity Index and
Small-Cap Index Portfolios.
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Your Investment Options Is Amended The chart on page 10 of the Prospectus is replaced with the chart on page 4 of
this supplement.
The second sentence under The Investment Adviser is replaced with the
following:
We and the Fund have retained other portfolio managers, supervised by us, for
eighteen of the Portfolios.
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THE FUND'S PROSPECTUS ACCOMPANIES THIS PROSPECTUS AND SHOULD BE READ
CAREFULLY BEFORE INVESTING.
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Primary Investments
Portfolio Objective (under normal circumstances) Portfolio Manager
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Aggressive Equity Capital appreciation. Equity securities of small Alliance Capital
emerging-growth companies Management L.P.
and medium-sized
companies.
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Emerging Markets Long-term growth of capital. Equity securities of Alliance Capital
companies that are located Management L.P.
in countries generally
regarded as "emerging
market" countries.
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Diversified Re- Long-term growth of capital. Equity securities of U.S. Capital Guardian
search companies and securities Trust Company
whose principal markets
are in the U.S.
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Small-Cap Equity Growth of capital. Equity securities of Capital Guardian
(formerly called smaller and medium-sized Trust Company
Growth) companies.
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International Long-term growth of capital. Equity securities of non- Capital Guardian
Large-Cap U.S. companies and Trust Company
securities whose principal
markets are outside of the
U.S.
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Bond and Income Total return and income A wide range of fixed Goldman Sachs
consistent with prudent income securities with Asset Management
investment management. varying terms to maturity,
with an emphasis on long-
term bonds.
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Equity Capital appreciation. Equity securities of large Goldman Sachs
Current income is of U.S. growth-oriented Asset Management
secondary importance. companies.
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Multi-Strategy High total return. A mix of equity and fixed J.P. Morgan
income securities. Investment Management
Inc.
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Equity Income Long-term growth of capital Equity securities of large J.P. Morgan
and income. and medium-sized dividend- Investment Management
paying U.S. companies. Inc.
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Growth LT Long-term growth of capital Equity securities of a Janus Capital
consistent with the large number of companies Corporation
preservation of capital. of any size.
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Mid-Cap Value Capital appreciation. Equity securities of Lazard Asset
medium-sized U.S. Management
companies believed to be
undervalued.
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Equity Index Investment results that Equity securities of Mercury Asset
correspond to the total companies that are Management US
return of common stocks included in the Standard &
publicly traded in the U.S. Poor's 500 Composite Stock
Price Index.
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Small-Cap Index Investment results that Equity securities of Mercury Asset
correspond to the total companies that are Management US
return of an index of small included in the Russell
capitalization companies. 2000 Small Stock Index.
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REIT Current income and long-term Equity securities of real Morgan Stanley Asset
capital appreciation. estate investment trusts. Management
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International Long-term capital Equity securities of Morgan Stanley Asset
Value appreciation primarily companies of any size Management
(formerly called through investment in equity located in developed
International) securities of corporations countries outside of the
domiciled in countries other U.S.
than the United States.
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Government Maximize total return Fixed income securities Pacific Investment
Securities consistent with prudent that are issued or Management Company
investment management. guaranteed by the U.S.
government, its agencies
or government-sponsored
enterprises.
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Managed Bond Maximize total return Medium and high-quality Pacific Investment
consistent with prudent fixed income securities Management Company
investment management. with varying terms to
maturity.
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Money Market Current income consistent Highest quality money Pacific Life
with preservation of market instruments
capital. believed to have limited
credit risk.
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High Yield Bond High level of current Fixed income securities Pacific Life
income. with lower and medium-
quality credit ratings and
intermediate to long terms
to maturity.
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Large-Cap Value Long-term growth of capital. Equity securities of large Salomon Brothers
Current income is of U.S. companies. Asset Management Inc
secondary importance.
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Form No. PS121799
