$58.3M Pacific Life misleading illustrations class action settlement

Pacific Life agreed to a $58.3 million class action lawsuit settlement to resolve claims it used misleading illustrations to sell indexed universal life insurance policies.

The Pacific Life settlement benefits individuals who purchased a Pacific Discovery Xelerator (PDX) indexed universal life insurance policy in California between 2016 and 2019.

Plaintiffs in the class action lawsuit accused Pacific Life of using misleading illustrations to sell PDX policies. These illustrations allegedly showed inflated profitability, causing policyholders to pay “hidden costs that essentially eliminate the value in the PDX Policies,” the class action lawsuit contends.

Pacific Life is a life insurance company that offers a variety of products, including indexed universal life insurance policies.

Pacific Life has not admitted any wrongdoing but agreed to a $58.3 million class action settlement to resolve the allegations.

Under the terms of the Pacific Life settlement, class members with in-force policies can receive a credit to their policy’s accumulated value. These credits will vary depending on the amount each class member paid in premiums compared to the total amount paid by all class members. The settlement administrator will use this ratio to determine each class member’s share of the net settlement fund.

Class members with terminated policies can receive term life insurance coverage for three years. They can receive up to $25 million in term life insurance relief. In addition, class members can receive insurance coverage on the same person who was insured under the eligible PDX policy.

The deadline for exclusion and objection is April 10, 2026.

The final approval hearing for the Pacific Life indexed universal life insurance settlement is scheduled for May 7, 2026.

Class members who wish to receive term insurance relief must submit a claim form by April 10, 2026.

Who’s Eligible

Policyowners, including legal entities, who purchased a Pacific Discovery Xelerator policy issued in California.

Potential Award

Varies.

Proof of Purchase

N/A

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

04/10/2026

Case Name

Mamboleo v. Pacific Life Insurance Company, Case No. 30-2021-01208045-CU-BT-CXC, in the Superior Court of the State of California in and for Orange County

Final Hearing

05/07/2026

Settlement Website

IllustrationSettlement.com

Claims Administrator

Illustration Settlement
c/o Kroll Settlement Administration LLC
P.O. Box 225391
New York, NY 10150-5391
833-754-9443

Class Counsel

Andrew S. Friedman
BONNETT FAIRBOURN FRIEDMAN & BALINT P.C.

Howard Bushman
THE MOSKOWITZ LAW FIRM PLLC

Steven G. Sklaver
SUSMAN GODFREY LLP

Defense Counsel

Irma Solares
CARLTON FIELDS P.A.