NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Beneficiaries of annuity policies often face a myriad of complex financial decisions. In order to best assist and support beneficiaries during this challenging time, the Retirement Solutions Division at Pacific Life has launched a newly created specialized service, called Beneficiary Services, that aims to help beneficiaries during their time of grief, educate them on available options, assist in completing claim paperwork and be a point of contact throughout the process.
Created to be a personalized and proactive offering, delivered by a team to annuity beneficiaries, this service provides dedicated support during the claims process. Upon notification of a death, Beneficiary Services will immediately call the beneficiary and provide details regarding the claim process or set up an appointment to review options at a more convenient time. Additionally, Beneficiary Services will route each beneficiary claim until resolution and ensure the beneficiary is updated on status, outstanding requirements, notification of the processing time and payout once good order of the claim is achieved.
“Over the past few years, we have been carefully evaluating all aspects of our customer experience,” said Frank Boynton, vice president of Operations, Retirement Solutions Division at Pacific Life. “The claim process was an area we felt would benefit from a specialized team providing dedicated contact due to both the sensitive nature and complexity of the situation.”
“This is a combination that we believe will benefit from a personalized level of service,” stated Boynton. In the initial testing phase, beneficiaries who worked with Beneficiary Services were impressed at the level of accessibility and support, providing positive reviews and feedback.
About Pacific Life
Celebrating 150 years of service, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the 100 largest U.S. companies as its clients. For additional company information, including current financial strength ratings, visit www.PacificLife.com.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2018 is compiled by Pacific Life using the 2018 FORTUNE 500® list.
Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues.