Pacific Life Insurance Review 2020

Laveta Brigham

Founded in 1868 in Sacramento, California, Pacific Life Insurance company has been writing life insurance policies for more than 150 years. In fact, the company’s very first customer was the former Governor of California, Leland Stanford. Since then, Pacific Life has become one of the top companies in the life […]

Founded in 1868 in Sacramento, California, Pacific Life Insurance company has been writing life insurance policies for more than 150 years. In fact, the company’s very first customer was the former Governor of California, Leland Stanford. Since then, Pacific Life has become one of the top companies in the life insurance industry. Though the company doesn’t stray far from the life insurance niche, it offers plenty of policy options and highly-rated customer service.

Pacific Life insurance

Pacific Life is one of the industry’s leading life insurance companies, with a solid reputation and excellent policy options. The company has options no matter what type of life insurance policy you’re looking for.

Types of life insurance policies offered

Pacific Life offers an impressive number of life insurance policies so that most people will be able to find a policy that suits their needs.

Indexed Universal Life Insurance

This life insurance product offered by Pacific Life includes two components: death benefit protection and index-based growth. No matter what, your beneficiaries will receive a tax-free death benefit on the occasion of your death. Pacific Life also provides a guaranteed floor, meaning you won’t lose money when the market goes down.

Variable Universal Life Insurance

Like the indexed policy, the variable universal life insurance plan also offers both a death benefit and an investment component. But what’s unique about this policy option is that you can allocate your cash value among a wider variety of investment options. You also get a guaranteed minimum rate.

Universal Life Insurance

Pacific Life’s standard universal life insurance policy provides both death benefit protection, as well as cash value growth at a guaranteed minimum rate. The company offers value-added benefits to help you customize your policy.

Whole Life Insurance

In addition to death benefit protection, Pacific Life’s whole life insurance policy comes with consistent returns and the predictability of a fixed premium.

Term Life Insurance

Unlike Pacific Life’s other life insurance offerings, term life insurance comes only with death benefit protection. You purchase a plan for a specified period of time and you get fixed premiums during that period.

Pacific Life ratings, reviews, customer satisfaction and complaints

Pacific Life receives good ratings across the board. In 2020, J.D. Power ranked the company 7th in the industry for overall customer satisfaction, well above the national average.

The company also ranks well in terms of customer complaints. Though it received a rating of A- from the Better Business Bureau, the National Association of Insurance Commissioners reports that Pacific Life receives fewer complaints than the industry average for its individual and group life insurance products. In fact, the company’s complaint index is below average across the board.

Finally, Pacific Life ranks extremely well for financial strength. AM Best gave the company an A+ (excellent), the second-highest rating available.

Reasons why Pacific Life is a great option

Pacific Life has a lot to offer its customers. It ranks well above average in terms of customer satisfaction. In fact, it’s customer satisfaction ranking with J.D. Power has only increased in recent years.

In addition to its top-notch customer service, the company also offers plenty of policy options. The company offers multiple universal life insurance policies, whole life insurance, term life insurance and annuities.

The downside of Pacific Life is that you can’t complete as many tasks using its digital tools. If you want to apply for or update your policy, you’ll have to work with an insurance agent. Another thing to consider is that Pacific Life doesn’t offer other types of insurance, such as auto and home coverage. So if you’re looking to bundle your coverages, this company may not be for you.

Additional policies offered by Pacific Life

In addition to its life insurance policies, Pacific Life also offers a variety of other products to fit your needs.


An annuity is an insurance product where you make either one payment or a series of payments to your insurance company. In exchange, your insurance company makes payments to you in the future, either as a lump-sum or as a series of payments. Pacific Life’s annuities can help to provide a reliable monthly income later in life.

Mutual Funds

Pacific Life is home to Pacific Funds, which is a collection of actively-managed mutual funds to help you diversify your portfolio and generate income. The company offers three fund options: a fixed-income fund, a U.S. equity fund and a multi-asset fund.

Additional Solutions

The company offers other products such as real estate investments, pension risk-transfer and structured settlements.

Frequently asked questions

What is the best life insurance company?

There are plenty of life insurance companies on the market, and there’s no one company that’s right for everyone. The best life insurance companies will offer attractive policy options and top-notch customer satisfaction at an affordable rate.

How much does life insurance cost?

The cost of life insurance varies significantly depending on the type of policy you choose. A simple term life insurance policy will cost far less than a more comprehensive universal or whole life policy. Your personal characteristics will also impact your insurance rates. Young and healthy individuals will pay lower premiums, while those with unhealthy habits or preexisting conditions may pay higher premiums.

How do I choose the right life insurance policy for me?

The different life insurance policies on the market are very different from one another. In the case of term life, you’re just purchasing basic death benefit protection, whereas a whole life or universal life policy will come with other cash value benefits. Each individual should consider what policy best suits their needs.

How do you buy life insurance?

If you’re in the market for life insurance, you can start by completing an application with the company of your choice. You’ll either complete this online or be directed to an insurance agent. You may have to go through an interview with the company or agree to a medical exam before your policy is active.

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