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PACIFIC PORTFOLIOS
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 Portfolios Is The following is added to the chart under Fees and Expenses Paid by the
Amended Pacific 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 $45,000
. the Investment Options have an annual return of 5%
. the Annual Fee is deducted even when the Contract Value goes over $50,000 and
a waiver would normally apply.
without EGMDBR and GIA Rider reflects the expenses you would pay if you did not
buy the optional Enhanced Guaranteed Minimum Death Benefit Rider ("EGMDBR") and
the Guaranteed Income Advantage ("GIA") Rider.
with EGMDBR reflects the expenses you would pay if you bought the optional
Enhanced Guaranteed Minimum Death Benefit Rider, but not the GIA Rider. These
expenses depend on the age of the youngest Annuitant on the Contract Date.
with GIA Rider reflects the expenses you would pay if you bought the optional
Guaranteed Income Advantage Rider, but not the Enhanced Guaranteed Minimum
Death Benefit Rider.
with EGMDBR and GIA Rider reflects the expenses you would pay if you bought the
optional Enhanced Guaranteed Minimum Death Benefit Rider and the Guaranteed
Income Advantage Rider.
These examples do not show past or future expenses. Your actual expenses in any
year may be more or less than those shown here.
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Expenses if you did
not annuitize or
Expenses if you Expenses if you surrender, but left
annuitized surrendered the money in your
your Contract ($) your Contract ($) Contract ($)
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Variable
Account 1 yr 3 yr 5 yr 10 yr 1 yr 3 yr 5 yr 10 yr 1 yr 3 yr 5 yr 10 yr
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Diversified
Research
without EGMDBR
and GIA Rider 88 76 130 276 88 130 157 276 25 76 130 276
with EGMDBR:
age 0-65 89 79 135 286 89 133 162 286 26 79 135 286
with EGMDBR:
age 66-75 91 85 145 306 91 139 172 306 28 85 145 306
with GIA Rider 91 85 145 306 91 139 172 306 28 85 145 306
with EGMDBR
and GIA Rider:
age 60-65 92 88 150 316 92 142 177 316 29 88 150 316
with EGMDBR
and GIA Rider:
age 66-75 94 94 160 335 94 148 187 335 31 94 160 335
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Small-Cap Equity
without EGMDBR
and GIA Rider 85 68 117 251 85 122 144 251 22 68 117 251
with EGMDBR:
age 0-65 86 71 122 261 86 125 149 261 23 71 122 261
with EGMDBR:
age 66-75 88 77 132 281 88 131 159 281 25 77 132 281
with GIA Rider 88 77 132 281 88 131 159 281 25 77 132 281
with EGMDBR
and GIA Rider:
age 60-65 89 81 137 291 89 135 164 291 26 81 137 291
with EGMDBR
and GIA Rider:
age 66-75 91 87 147 311 91 141 174 311 28 87 147 311
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Expenses if you did
not annuitize or
Expenses if you Expenses if you surrender, but left
annuitized surrendered the money in your
your Contract ($) your Contract ($) Contract ($)
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Variable
Account 1 yr 3 yr 5 yr 10 yr 1 yr 3 yr 5 yr 10 yr 1 yr 3 yr 5 yr 10 yr
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International Large-Cap
without EGMDBR
and GIA Rider 90 83 142 301 90 137 169 301 27 83 142 301
with EGMDBR:
age 0-65 91 86 147 310 91 140 174 310 28 86 147 310
with EGMDBR:
age 66-75 93 92 157 330 93 146 184 330 30 92 157 330
with GIA Rider 93 92 157 330 93 146 184 330 30 92 157 330
with EGMDBR
and GIA Rider:
age 60-65 94 95 162 339 94 149 189 339 31 95 162 339
with EGMDBR
and GIA Rider:
age 66-75 96 101 172 358 96 155 199 358 33 101 172 358
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Equity Index
without EGMDBR
and GIA Rider 81 56 96 209 81 110 123 209 18 56 96 209
with EGMDBR:
age 0-65 82 59 102 219 82 113 129 219 19 59 102 219
with EGMDBR:
age 66-75 84 65 112 241 84 119 139 241 21 65 112 241
with GIA Rider 84 65 112 241 84 119 139 241 21 65 112 241
with EGMDBR
and GIA Rider:
age 60-65 85 68 117 251 85 122 144 251 22 68 117 251
with EGMDBR
and GIA Rider:
age 66-75 87 75 127 272 87 129 154 272 24 75 127 272
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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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Charges, Fees and Deductions: The third sentence of How the Charge is Determined is replaced with:
Withdrawal Charge Is Amended
A Purchase Payment is "age one" from the day it is effective until the
beginning of the day preceding your next Contract Anniversary; beginning on the
day preceding that Contract Anniversary, your Payment will have an "age of
two", and increases in age on the day preceding each Contract Anniversary.
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Transfers: DCA Plus Is Amended The first sentence of the third paragraph is replaced with:
Guaranteed Term and monthly transfer period for DCA Plus Fixed Option is
currently 6 months.
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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. PP121799
