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Pac Life suspends Section 79 plan sales

Article added by Roccy DeFrancesco on May 12, 2015

I just confirmed that Pacific Life Insurance suspended all sales of their Section 79 plan. 

Why are sales being suspended? I don’t have a definitive or “on the record” reason, but I’ve been told that the reason is IRS related. No matter the reason, Section 79 Plans are not worth implementing. I’ve been warning about Section 79 plans for several years. See my past ProducerWEB articles: