SE5NY-1H

Pacific Select Exec V-NYFlexible Premium Variable Universal Life Insurance

Client Guide

Investment and Insurance Products: Not a Deposit Not Insured by any Federal Government AgencyNot FDIC Insured No Bank Guarantee May Lose Value

Death Benefit Protection and Growth Potential with Variable Universal Life Insurance from Pacific Life & Annuity Company

Death benefit protection and features to customize a policy to fit

your insurance needs.

Long-term accumulated value growth potential with investment

options and services to tailor to your strategy.

Optional riders to help customize your policy’s protection

and flexibility.

Pacific Select Exec V-NY1 may help you protect your beneficiaries in the event of your death while you

pursue your retirement and other financial objectives.

1 Policy Form #P08SE5.

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Choices to Get You Going, Flexibility to Keep You MovingBuild Your CoverageWork with your life insurance producer to build life insurance coverage that reflects your current needs. Begin with as little as $50,000 in death benefit coverage. If desired, you may include term life insurance coverage on members of your immediate family by electing the optional Annual Renewable Term Rider–Additional Insured and/or Children’s Term Rider at policy issue.2

To help determine the structure of your policy’s death benefit, you will choose among the following Death Benefit Options at policy issue:

A (Level)—Death benefit equals the policy’s face amount.

B (Increasing)—Death benefit equals the policy’s face amount plus the accumulated value.

C (Return of Premium)—Death benefit equals the policy’s face amount plus the sum of premiums paid, less any withdrawals.3

Adjust as NeededIf your life insurance needs change, you may switch Death Benefit Options and/or increase or decrease your policy’s death benefit, subject to policy limits. Increasing your death benefit may be subject to underwriting approval and will increase your policy charges. Decreasing your death benefit may not lower policy charges.

If you are under age 40, talk to your life insurance producer about the Guaranteed Insurability Rider.2 If elected at policy issue, this rider guarantees you the ability to increase your death benefit without requiring additional underwriting approval at certain ages and life events, like marriage or the birth of a child.

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Pay Flexible PremiumsWith flexible premiums, you decide how much and how often to pay. As long as your policy has sufficient accumulated cash value to pay policy charges, your policy will stay in force. To help you stay on track, Pacific Life & Annuity Company can send premium reminders to pay annually, semiannually, quarterly, or monthly. Monthly premium payments occur through electronic funds transfer from your bank account for automated convenience.

2 Riders will likely incur additional charges and are subject to availability, restrictions, and limitations. When considering a rider, request a policy illustration from your life insurance producer to see the rider’s impact on your policy’s values. Annual Renewable Term Rider–Additional Insured (Form #R08RTA-NY1), Children’s Term Rider (Form #R98-CT-NY1), and Guaranteed Insurability Rider (Form #R93-GI-NY1).

3 The maximum issue age for Death Benefit Option C is 80. The maximum Death Benefit calculated will not exceed the amount shown in the Policy Specifications as the “Option C Death Benefit Limit” except as described in the Death Benefit Qualification Test, Tax Qualification as Life Insurance, and Modified Endowment Contract Tax Status sections of the Policy.

Variable Universal Life Insurance generally requires additional premium payments after the initial premium. If either no premiums are paid, or subsequent premiums are insufficient to continue coverage, it is possible that coverage will expire.

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Allocation Choices for a Long-Term Strategy Our far, wide, and diversified range of investment options and allocation services gets you started and helps keep you on course

Choose among a variety of investment options to help drive your policy’s tax-deferred cash value growth potential. With up to 25 transfers between certain investment options each year, you can shift allocations among options to suit your evolving risk and time horizons for a lifetime of goals. For transfer limitations and restrictions, see prospectus.

Over 90 Variable Investment OptionsMarket-fueled growth potential in professionally managed variable investment options, with choices in the following categories:

Alternatives Domestic Equity Domestic Fixed Income Emerging Market Equity Emerging Market Fixed Income Global International Money Market Sector Strategic Asset Allocation Tactical Asset Allocation Target-Date Portfolios

Plus, 2 Fixed OptionsBacked by the financial strength and claims-paying ability of Pacific Life & Annuity Company:

Fixed Account credits a current declared interest rate. Fixed LT Account credits a higher current rate than the

Fixed Account, in exchange for stricter transfer rules. Guaranteed minimum annual crediting rate of 2.5%

in both fixed options.

Whatever asset allocation strategy you and your life insurance producer choose, it is important to remember to review and monitor your investment options on a regular basis to make sure your policy values are on track to meet your life insurance needs and financial goals.

Every variable investment option has some degree of risk depending on what it invests in and what strategies it uses. While all variable investment options are subject to market risk, some investment options may be subject to greater volatility than others. The variable investment options are not FDIC insured or guaranteed. Before investing you should carefully read the applicable fund prospectuses for the risks associated with each investment option.

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4 Dollar Cost Averaging and Automatic Portfolio Rebalancing may not be used simultaneously. Dollar Cost Averaging does not assure a profit nor protect against losses in any market and requires ongoing investing in securities, regardless of price fluctuation. Carefully consider your financial ability to use this service during declining markets.

Automated Allocation ServicesIn addition to 25 transfers between certain investment options each year, you may choose from the following Automated Transfer Services at no additional charge. See prospectus for details and applicable restrictions and limitations.

1. Fixed Option Interest Sweep Program—Sweep interest earned in either the Fixed Account or Fixed LT Account ($50 minimum) to variable investments options for an approach that risks only the fixed interest earned to market volatility.

2. First-Year Transfer Program—Use the first policy year to ease from the Fixed Account to any choice of variable investment options and/or the Fixed LT Account.

3. Dollar Cost Averaging Service4—Shift allocations from one variable investment option to any choice of other variable investment option(s) on a scheduled basis.

4. Automatic Portfolio Rebalancing Service4—Help maintain a disciplined approach by periodically rebalancing the cash value to match that for future premium allocations.

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Access Your Policy’s Cash Value for Supplemental Income Potential

Your policy’s cash value growth potential is tax-deferred. Based on your premium payments and investment option performance, you may have built sufficient cash value over time to supplement your income tax-free5 via policy loans and withdrawals from the policy’s available cash value. Provided there is sufficient cash value to cover policy charges, your policy will remain inforce.

Withdrawals are available after the first policy year.

Policy loans are available at a guaranteed net cost of just 0.25%. Current net cost is even lower: 0% beginning in policy year six.6

5 For federal income tax purposes, tax-free income assumes, among other things: (1) withdrawals do not exceed tax basis (generally, premiums paid less prior withdrawals); (2) policy remains in force until death; (3) withdrawals taken during the first 15 policy years do not occur at the time of, or during the two years prior to, any reduction in benefits; and (4) the policy does not become a modified endowment contract. See IRC Sections 72, 7702(f)(7)(B), 7702A. Any policy withdrawals, loans, and loan interest will reduce policy values and may reduce benefit.

6 Guaranteed loan interest charged: 2.75% in all years. Loan interest credited: 2.50% guaranteed in all years, 2.75% current in years six and beyond.

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7 The potential tax consequences of the Overloan Protection II Rider (Form #R08OLP-NY1) have not specifically been ruled on by the IRS or courts. Clients should consult their tax advisors. Riders will likely incur additional charges and are subject to availability, restrictions, and limitations. When considering a rider, request a policy illustration from your life insurance producer to see the rider’s impact on your policy’s values.

Optional Tools to Help Manage Your Policy

My Life Insurance AccountOnline policy management tool

Help manage your policy, including requests for policy loans, withdrawals, and transfers with our comprehensive and user-friendly policyowner website.

Conveniently view your policy information and more at: life.myaccount.pacificlife

Automated Income Option (AIO)Transfer policy distributions to your bank on a steady basis

This convenient service deposits planned policy loans and withdrawals directly to your bank account, based on a fixed payment or fixed period of time. Please note that there may be an administrative charge for this service and there are eligibility requirements. See prospectus for details.

Overloan Protection II RiderHelps prevent policy lapse if loan debt exceeds accumulated value

While policy loans may be a helpful source of supplemental income, they may place your policy at risk. For example, should loan debt over time exceed your policy’s accumulated value, your policy will lapse. Unfortunately, this could trigger a taxable event to you.

To help prevent this, the Overloan Protection II Rider7 protects your policy from lapse when loans exceed accumulated value. Certain conditions must be met to exercise the rider, and there is a one-time rider charge, which is based on accumulated value at exercise and other factors. Other restrictions apply. See prospectus for details.

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Policy Features for the Long-Term

Potential Reward for Longevity As an added bonus, your policy’s cash value is eligible to receive a persistency credit beginning in policy year six. The credit is added to your cash value and is based on your average monthly unloaned policy cash value. The credit may increase over time, as shown.

Policy Year Annual Credit(based on average unloaned cash value)

6–15 0.20%

16–20 0.35%

21+ 0.50%

This persistency credit is not guaranteed and may be discontinued at any time.

Your Policy’s ChargesThe cost of the life insurance and benefits provided through your policy is deducted monthly in the form of policy charges, which include an Administrative Charge, Asset Charge, Coverage Charge, Cost of Insurance Charge, and any applicable rider charges. Additionally, a premium load is deducted from each premium payment. To understand how the policy charges will affect your policy’s cash value, request a personalized illustration that includes the “Analysis of Charges” report.

Policy charges will reduce the effective rate of return on your accumulated value in the variable investment options. Policy charges may also exceed the interest credited to your accumulated value in the fixed accounts.

Help Keep Your Policy Inforce if You Become DisabledYou may elect one of the following riders at policy issue to help keep your policy inforce if the primary insured becomes disabled prior to age 60: Disability Rider (Form #R84-DB-NY1), or Waiver of Charges Rider (Form #R08WC-NY1)

Riders will likely incur additional charges and are subject to availability, restrictions, and limitations. When considering a rider, request a policy illustration from your life insurance producer to see the rider’s impact on your policy’s values. See prospectus for details.

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Pacific Life—The Power to Help You SucceedOffering insurance since 1868, Pacific Life provides 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. 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 2015 is compiled by Pacific Life using the 2015 FORTUNE 500® list.

Policy Form #P08SE5 SE5NY-1H 85-28792-08 5/16

This material is not intended to be used, nor can it be used by any taxpayer, for the purpose of avoiding U.S. federal, state or local tax penalties. This material is written to support the promotion or marketing of the transaction(s) or matter(s)

addressed by this material. Pacific Life, its affiliates, their distributors, and respective representatives do not provide tax, accounting, or legal advice. Any taxpayer should seek advice based on the taxpayer’s particular circumstances from an

independent tax advisor or attorney.

Pacific Life & Annuity CompanyNewport Beach, CA 92660

(888) 595-6996www.PacificLife.com

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. 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. Insurance products and their guarantees, including optional benefits and any crediting rates, are backed by the financial strength and claims-paying ability of the issuing insurance company, but they do not protect the value of

the variable investment options. Look to the strength of the life insurance company with regard to such guarantees as these guarantees are not backed by the broker-dealer, insurance agency, or their affiliates from which products are purchased. Neither these entities nor their representatives make any representation or assurance regarding the claims-paying ability of the life insurance company. Variable

insurance products and shares of Pacific Select Fund are distributed by Pacific Select Distributors, LLC (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company, and an affiliate of Pacific Life & Annuity Company, and are available through licensed

third-party broker-dealers.

Non-guaranteed/current elements are not guaranteed by definition. As such, Pacific Life & Annuity Company reserves the right to change or modify any of these elements. This right to change these elements is not limited to a specific time or reason.

Pacific Life & Annuity Company’s individual life insurance products are marketed exclusively through independent third-party life insurance producers, which may include bank affiliated entities. Some selling entities may limit availability of some optional riders and investment options based on their client’s age and other factors. Your life insurance producer can help you determine which optional

riders and investment options are available and appropriate for you.

This material must be preceded or accompanied by the variable life insurance product prospectus. Contact your life insurance producer or visit www.Pacificlife.com for more information, including product and underlying fund prospectuses that contain more

complete information about Pacific Life & Annuity Company and a variable life insurance policy’s risks, charges, limitations, and expenses, as well as the risks, charges, expenses and investment goals/objectives of the underlying investment options. Read them

carefully before investing or sending money.

This material may be used in New York only.