ByDena Landon Contributing Writer

Dena Landon is a professional writer in the home, real estate, and business market. Her bylines have appeared in The Washington Post, Salon, Good Housekeeping, and more.

Pacific Life Insurance Review

Pacific Life, first founded in San Francisco, has been selling life insurance policies for over 150 years. Pacific Life's products are sold through a network of financial professionals licensed to sell insurance. There is currently no option to apply for a policy or get a quote online, which makes it somewhat difficult to comparison shop. However, if you're looking to use your life insurance as an investment vehicle, is worth considering; alongside standard term and whole life insurance, Pacific Life offers cash growth-focused indexed and variable universal life insurance options.

Pros Cons
Good-to-average customer satisfaction and financial strength scores
Wide range of life insurance policies
No cost savings from bundling policies
Limited online customer service and user interface

The Life Insurance Factors We Analyzed

Customer experience

Customer service matters in all areas of your policy’s life, from purchase to claim. According to a 2019 J.D. Power survey, Pacific Life’s customers give the company three out of five stars for overall satisfaction, putting it ninth in the nation and just above the industry average. Its lowest score comes from the "application and orientation" category, potentially because the company offers no online quotes.

Pacific Life also has limited online customer service tools. While you can apply for a policy, update your beneficiaries, and change your address online, you can’t change any automatic payment information or cancel your policy without calling the company. Direct email contact information is not provided on its website — the majority of its customer service is handled by phone through your agent or broker.

Financial strength

Pacific Life is a financially stable life insurance company. It received an A1 rating from Moody’s, an AA- rating from S&P Global, and an A+ rating from AM Best. These strong ratings, intended for investors, also indicate to consumers that they can rely on the company to be there when it comes time to file a claim.

Coverage and rider information

Pacific Life sells five types of insurance policies with varying term lengths. Along with standard term, whole, and universal life policies, Pacific Life offers indexed and variable universal life insurance policies. Both of these policies include death benefits but also promise returns on your premiums. Because of this, many people consider these policies to be a safe investment.

Pacific Life’s indexed universal life insurance pays out returns tied to a stock market index. The returns for its variable universal life policy, on the other hand, are market-driven and offer more options. You can choose a policy with a minimum return and pick from a range of investments. This amount of control over your insurance policy is very unusual in the industry.

Pacific Life also offers a decent selection of add-ons, or "riders." You can add on a living needs benefit rider, an accidental death benefit rider, and a child rider. With the living needs benefit rider, if you become disabled, you can draw on your life insurance’s benefit. The money can be used for medical or non-medical expenses and won’t deduct unpaid premiums from your death benefit. This type of rider isn’t sold by all insurance companies.

The accidental death benefit rider pays out more to beneficiaries who might struggle to cope with an unexpected death. With Pacific Life, you can select double or triple the benefit amount. A child rider can take the place of purchasing a separate life insurance policy for your child, designed to cover medical bills and funeral costs in a worst-case scenario.

Life insurance coverage features

Insurance types offered Term, whole, universal, indexed universal, variable universal
Term lengths offered 10, 15, 20, 25, 30 years*
Standout coverage features Guaranteed returns for indexed universal and variable life insurance
Accidental death benefit rider
Child Rider
Living Needs Benefit Rider

*Options vary by state.

Pacific Life Insurance Overview: Financial Strength, Availability, and History

Over its 150 years plus in business, Pacific Life has built a strong, stable company. It focuses entirely on selling life insurance products, unlike most other insurers that diversify with auto and homeowners insurance.

Pacific Life has high ratings with all three major rating companies (AM Best, S&P Global, and Moody's), meaning it also has the financial clout to pay out on any claims: important for an insurer that may be with you for the rest of your life.

  • In business since: 1868
  • S&P Global financial strength rating: AA-
  • Moody’s financial strength rating: A1
  • AM Best financial strength rating: A+
  • States served: 50

The Competition

Rank Score
Customer Experience Score
Financial Strength Score
Pacific Life
Northwest Mutual
State Farm
New York Life
Mutual of Omaha
Principal Life

All information accurate as of January 27, 2020.

The Bottom Line

Pacific Life is a solid life insurance provider, offering basic coverage and a few unique ways to invest your cash value. While it has fairly middle-of-the-road customer satisfaction ratings, its financial strength scores ensure that it will be able to cover you in the long term. To get a quote and compare Pacific Life to other life insurance providers, schedule a call with a Pacific Life agent.

Pacific Life Insurance FAQ

Is Pacific Life a good life insurance company?

Yes; Pacific Life is a financially stable company that is highly rated by financial institutions. It offers basic coverage, plus policies designed to build your cash value. However, it does score about average in customer service, with customers particularly dissatisfied with the application and orientation process.

What types of life insurance does Pacific Life offer?

Pacific Life sells term, whole, universal, indexed universal, and variable universal life insurance.

What is the average life insurance cost per month with Pacific Life?

Because the average cost of life insurance is significantly impacted by your geographic location, health history, age, and assets, the best way to determine your expected cost of Pacific Life is to contact an agent near you for a quote.

Does Pacific Life pay out dividends to its policyholders?

Pacific Life is a mutual company, meaning it’s possible that certain policyholders are eligible to earn yearly dividends. However, dividends are not guaranteed.

Does Pacific Life require a medical exam?

Certain policies from Pacific Life may require a medical exam, but policies with small death benefits usually waive this requirement.

Can you cancel Pacific Life's life insurance?

You can cancel your Pacific Life policy only by calling your agent. Canceling won’t incur any fees, but you will not be refunded anything you have already paid.

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