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Pacific Life Insurance Review

Last modified: Sep 29, 2022

Overall Raiting: 8
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Financial Strength: A+
BBB Rating: A+
Coverages: 8/10
Flexibility: Flexible Payment Options
Discounts: N/A
Support: Phone, Email
User Ratings: 8/10
Availability: Available in all 50 states
Pricing: Affordable

Are you choosing an insurer for a life insurance policy? If so, you might want to consider the Pacific Life Insurance Company. 

Although you can find numerous Pacific Life insurance reviews online, this review is a good read as we provide detailed information about the company and its coverage options. Read on to find out more. 

About the Company

Pacific Life is a trusted and well-reputed company providing mutual funds, life insurance, financial products, and retirement solutions to individuals for more than 150 years. They offer a variety of coverage options at affordable prices. The Pacific Life Insurance Company has a stellar market reputation based on its excellent financial stability, good reviews, and speedy claim processing service. 

Headquartered in Newport Beach, California, Pacific Life has more than 3,776 agents committed to helping clients seek the best coverage options and resolve claims. In 1906 Pacific Life Insurance Company consolidated with Conservative Life.

Pacific Life is a Fortune 500 company with over $7 billion in operating revenues. It is the fourth largest life insurance provider in the United States in terms of sales. 

How We Reviewed?

Our Pacific Life Insurance Company reviews are based on multiple factors to curate a comprehensive article for our readers. We reviewed every detail, from website usage to customer service, coverage options, discounts, and customer satisfaction. 

We examined the company’s website for information regarding coverage options and claims. The website is responsive, easy to navigate, and includes all the relevant resources needed for existing and prospective clients.

We also checked the company for its financial strength and customer reviews. 

Where Is It Available?

Pacific Life Insurance Company serves all states. So, no matter which U.S. state you live in, you can benefit from their coverage options.

Pacific Life Insurance Coverage Options

Pacific Life offers a variety of permanent and term policies. Below is a list of their coverage options: 

The company offers adjustable and fixed premiums on their term life insurance policies. These premiums are offered over 10, 15, 20, 25, and 30 years. If you want to skip the conventional underwriting process or the annual renewable term policy, you will not have to take the medical examination. 

Moreover, you can customize your policy with add-ons like terminal illness rider and premium rider options. 

Here it is essential to understand that if you have annual renewable term life, then you can renew the policy annually. However, the price will increase yearly.

As the name suggests, this is a permanent policy that offers you lifelong coverage. The premiums under whole life insurance are steady. Additionally,  the cash value is built at a fixed rate. The insurer sets it.

Under this coverage, Pacific Life offers 6 insurance policy types. The plans provide cash-value accumulation and death benefit protection. Some of the Pacific Life plans under this insurance provide flexible payment options and fixed minimum interest rates. 

If you want to change the coverage, you can easily do so. The company offers customers that have a universal life insurance plan the ability to take out a policy loan. But this is done against the policy’s accumulated cash value. 

There are 3 different types of plans under variable universal life insurance. Individuals with variable universal life insurance plans can enjoy the following benefits:

In this policy, the cash value is tied to the index performance. In other words, it has the highest potential returns and risks alike. Pacific Life Insurance Company offers five types of indexed universal life plans. 

You also have the flexibility to customize the policy and adjust the life insurance coverage and premium according to your needs. 

Here are the riders offered by Pacific Life that you can use to customize your policy:

Pacific Life Insurance Pricing 

The pricing is variable depending on the policy and the chosen terms. The illustration below is a rough estimate for a healthy and non-smoking man at different age brackets applying for a $500,000 life insurance with a 20-year term. 

From the table below, you can quickly gauge that Pacific Life pricing is lower than the industry average, making their pricing very competitive:

20s $24.66 $28.02
30s $26.76 $32.06
40s $57.19 $60.97
50s $138.50 $152.00
60s $461.04 $504.29


Pacific Life Insurance Discounts

Unlike other companies, Pacific Life doesn’t offer multi-policy and bundled policy discounts. However, when you request a Pacific Life insurance quote, they will evaluate your lifestyle choices. Thus, if you’re living a healthy lifestyle, you are likely to get the best rates. If you want to get the best rates, adopt a healthy life such as exercise regularly, maintain a healthy weight, and quit smoking.

Customer Satisfaction and Financial Strength Review

If you read different Pacific Life insurance reviews, you will see that the company has a strong financial standing and an above-average customer satisfaction rate. Even if we assess the Pacific Life Insurance Company complaints for the last 3 years, you can see that the number of complaints is very small, especially for the company's size and reach.

In addition to this, did you know that in the JD Power 2019 U.S., Pacific Life ranked 9 out of the 24 companies evaluated? The company ranked above average in the report for all categories of customer satisfaction except for application processing. 

According to customers, they have exemplary policy offerings, affordable pricing, good communication processes, fast billing, and payment, but the application process still needs improvement. 

If we assess the company from a financial perspective, it is top-notch. In 2018, Pacific Life Insurance had a total of $158 billion in assets. The company has received excellent financial strength ratings from almost all the major insurance rating organizations. That serves as a good indication that the company can pay off the insurance money promptly.

The table below shows the Pacific Life insurance rating received from AM Best, Moody’s, Fitch, and S&P. It also includes the reviews that Pacific Life insurance received from BBB.

Platform Rating
AM Best A+
Moody’s  A1 Good
Fitch  A+ Strong 
JD Power 3/5

Customer Support 

The Pacific Life insurance customer service is available via phone and online. If you have any queries or concerns regarding their policies or coverage options, call on Pacific Life insurance toll-free phone number (800) 800-7646. Their representatives are available from 8 a.m. to 5 p.m. from Monday to Friday, Pacific Time.

Their team of knowledgeable and friendly representatives can guide you through the process and select the best coverage options as per your needs.

Ease of Buying and Claims Handling 

The process of buying a life insurance policy with Pacific Life is relatively fast and smooth. Their representatives are readily available and are experts at giving useful advice on life insurance. 

If you know what policy options you want, you can simply apply for a quote to get started.     

Call Pacific Life at (800) 347-7787 to file your claim. The beneficiaries must provide the following documents to claim the death benefits:

Comparison With Competitors 

When compared to other prominent companies on the market, Pacific Life is equally competitive. Many prospective customers ask, “Is Pacific Life vs. AAA life insurance less expensive?”. We’d say yes. Although both companies serve all 50 states, Pacific Life is more affordable, while AAA is high-priced. 

Anyone can buy a policy with Pacific Life, but to be legit for AAA you have to be an AAA member first.


  • A variety of life insurance coverage options
  • No medical exam
  • Access to the death benefit in the event of a chronic illness
  • Available in all 50 states
  • Application process below average
  • Limited ways to contact representatives
  • Higher rates for former tobacco users
  • Policyholders can’t update information online

After carefully analyzing many Pacific Life insurance reviews, we are able to say that the company has a strong contender among life insurance companies. From excellent financial strength to various coverage options, riders, and affordable pricing, Pacific Life is an excellent company for exploring and buying insurance policies.     

The company ranks in the top 10 for overall customer satisfaction.  You can expect outstanding customer support. 


Is Pacific Life a public company?

No. It is a private and independent company. There are no publicly traded stocks for Pacific Life available. 

What is Pacific Life annuity?

An annuity is a savings vehicle. It guarantees the rate of return. They can have variable and fixed rates while earnings on the annuity are tax-deferred. Pacific Life offers a variety of annuities. With their annuities plans, you can grow, manage, and protect your retirement savings, transforming them into a reliable and steady lifetime income according to your personal goals and preferences.

Are Pacific Life annuities good?

Pacific Life annuities help protect your future after retirement with a steady flow of income. So, you can keep your finances in check and enjoy a financially stable future without any worries.   

For more information about annuities or Pacific Life insurance plans, contact their representative or visit their website.

How do I apply for Pacific Life insurance?

Pacific Life insurance reviews show that if you want to apply for a Pacific Life policy, you have to get in touch with an independent financial professional. To contact them simply log on to the Pacific Life website and use the location tool available online to find a professional near you.

Policy Advice is a website devoted to helping everyday people make, save, and grow money. While our team is comprised of personal finance pros with various areas of expertise, nothing can replace professional financial, tax, or legal advice.

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