Pacific Life Insurance Review [2024]

Pacific Life insurance rates average $26/month. Pacific Life offers a variety of coverage including term, universal, and indexed universal life insurance. Pacific Life has great financial strength, making it a reliable choice. This Pacific Life insurance review will cover company ratings and rates by age.

UPDATED: Feb 17, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Feb 17, 2024Fact Checked

Rachael Brennan

Licensed Insurance Agent

Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

Licensed Insurance Agent

Tim Bain

Founder & Life Insurance Agent

Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance.  His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada. 

Founder & Life Insurance Agent

UPDATED: Feb 17, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

UPDATED: Feb 17, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Feb 17, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Feb 17, 2024Fact Checked
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Pacific Life Insurance Company

Average monthly rate for healthy individuals:

$26

A.M. Best rating:

A+ (Superior)

Complaint level:

Low

Pros

  • Competitive rates for term life policies
  • Cost-competitive cash value policies for smokers
  • Cash value accumulates in the early years of a policy
  • Several options for riders

Cons

  • Limited options when converting term to permanent policy
  • No online quotes
  • No guaranteed issue policies
  • No mobile app

Final Verdict: Review of Pacific Life Insurance Company

Pacific Life offers various types of life insurance, such as term, whole, indexed universal, and variable universal, making it an excellent choice for policyholders seeking cash value life insurance. On average, you’ll pay around $26 monthly for a Pacific Life insurance policy.

Alongside Pacific Life’s affordable term life insurance, the company has good financial strength and excellent customer reviews. Compare your Pacific Life insurance quote against other cheap life insurance companies to find the right policy for you with affordable rates.

What You Should Know About Pacific Life Insurance Company

Pacific Life sells term, whole, variable universal, and indexed universal life insurance policies, many of which earn cost-competitive cash value. However, policyholders have few options to convert their Pacific term life insurance policy to a permanent one, and individuals with medical conditions won’t be able to get a guaranteed issue policy.

Keep reading this Pacific Life insurance review to learn more about its average insurance premiums, financial strength, and customer reviews.

Pacific Life Insurance: The Good and Bad

When considering any life insurance company, Pacific Life included, it’s essential to consider the pros and cons.

Some of the benefits of buying life insurance with Pacific Life include the following:

  • Competitive term life insurance rates
  • Cost-competitive cash value policies for smokers
  • Cash value accumulates in the early years of a policy
  • Several rider options

You should also examine the potential drawbacks of Pacific Life, such as:

  • Few options for converting term life policy to permanent
  • Can’t get an online quote
  • Doesn’t offer guaranteed issue policies
  • No mobile app

Since every individual’s life insurance needs differ, Pacific Life insurance may not be the right fit for you.

Pacific Life Insurance Customer Service and Financial Ratings

Pacific Life has excellent customer reviews and satisfaction. According to the National Association of Insurance Commissioners (NAIC), the company’s complaint index score is 0.04. The average score is 1.00, meaning Pacific Life receives fewer average complaints than other companies similar in size.

Pacific Life also carries high marks for its financial strength. A.M. Best, a credit rating agency, gives Pacific Life an A+, or superior, rating for its financial strength, so you can rest assured that Pacific Life can pay out its policyholders’ claims.

Pacific Life Insurance Company Insurance Coverage Options

Pacific Life’s coverage options include term, whole, indexed universal, and variable life insurance. Check out the list below to see Pacific Life’s coverage options:

  • Term life: Pacific Life’s Promise Term offers term life insurance coverage with 10, 15, 20, 25, and 30-year term options, fixed premiums, and a $50,000 minimum coverage amount. Alternatively, Pacific Life’s Elite Term offers the same coverage but with different term lengths and a $750,000 coverage minimum. You can also convert both policies to universal life insurance.
  • Whole life: Individuals between 30 and 75 can get Pacific Life’s whole life insurance coverage alongside fixed premiums and guaranteed cash value, with coverage amounts ranging from $36,000 to $600,000. You can also get long-term care and terminal illness insurance riders with a Pacific Life whole life insurance policy, making it excellent life insurance for seniors.
  • Indexed universal life: Pacific Life indexed universal life insurance allows policyholders to earn cash value on their life insurance with flexible premiums and death benefits that last their entire life. Cash value accrues based on the performance of a market index, such as the S&P 500.
  • Variable universal life: With Pacific Life’s variable universal life insurance coverage, policyholders earn lifetime death benefits that let them borrow from their cash value. Variable universal policies are more customizable, allowing the policyholder to make investment choices.

As you can see, Pacific Life offers various life insurance products and riders, making it an excellent choice to customize your insurance.

How to File a Pacific Life Insurance Claim

You can file a Pacific Life insurance claim on the company’s website or by calling Pacific Life customer service at 1-800-347-7787. Pacific Life’s customer service office hours are Monday through Friday, 5 a.m. to 5 p.m. PT.

Pacific Life Insurance Online Offerings and Mobile App

Pacific Life’s online website allows policyholders to pay premiums, file claims, and view policy details, such as indexed account rates. Unfortunately, Pacific Life doesn’t have a mobile app.

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Pacific Life Insurance Company Insurance Rates Breakdown

Pacific Life average insurance premiums are around $26 monthly, which is close to the overall average of the best life insurance companies. However, your Pacific Life insurance quotes will vary by age, gender, lifestyle, and coverage amount.

Check out the table below to see how much you might pay for a Pacific Life term life insurance policy:

Pacific Life Term Life Insurance Monthly Rates by Age & Gender
Age & Gender20-Year Term
25-Year-Old Male$24
25-Year-Old Female$19
30-Year-Old Male$26
30-Year-Old Female$22
45-Year-Old Male$55
45-Year-Old Female$43

Buying a Pacific Life insurance policy while young is a great way to get cheap life insurance premiums. For instance, while a 25-year-old male pays around $24 monthly for a Pacific Life term policy, the same policy costs $55 for a 45-year-old male.

Read more: Equitable Life Insurance Review

Pacific Life Insurance Company Discounts Available

Pacific Life doesn’t offer any life insurance discounts.

How Pacific Life Insurance Company Ranks Among Providers

Before getting coverage with Pacific Life, it’s critical to compare average insurance premiums and coverage options vs. the company’s competitors to ensure you’re getting an affordable policy tailored to your needs. Factors such as available riders, customer reviews, and financial strength are important to consider when deciding on a company.

Take a look at the table below to compare Pacific Life average insurance premiums alongside the best term life insurance companies:

Pacific Life Term Life Insurance vs. Competitor Monthly Rates
Insurance CompanyPolicy Name30-Year-Old Female30-Year-Old Male
Pacific LifePL Promise Term$16$19
Banner/Legal & GeneralOPTerm$16$19
ProtectiveClassic Choice$16$19
Haven LifeHaven Term$15$18
SymetraSymetra SwiftTerm$16$19
Lincoln FinancialTermAccel Level Term$16$24
American GeneralSelect-a-Term$16$19
TransamericaTrendsetter Super$16$19
PrincipalTerm$16$19

Read more: Symetra Life Insurance Review

As you can see, Pacific Life offers competitive rates compared to the best life insurance companies. However, premiums vary based on several factors, so you should get a Pacific Life insurance quote to know your exact rate.

 

Frequently Asked Questions

How can I get a Pacific Life insurance quote?

You must call Pacific Life at 1-800-347-7787 to get a quote. You can’t get a Pacific Life insurance quote online. However, you can also get a free quote from the best life insurance companies in your area by entering your ZIP code.

Is Pacific Life insurance expensive?

The average monthly cost of Pacific Life insurance premiums is $26, making it a cheap option for life insurance coverage.

How does Pacific Life’s financial and customer service ratings compare to other life insurance companies?

Pacific Life has an A+ rating for financial strength from A.M. Best, indicating the company can pay out its claims to policyholders. In addition, Pacific Life’s NAIC complaint index score is 0.04, which is a lower-than-average volume of complaints relative to similar-sized companies.

How do I file a Pacific Life insurance claim?

You can file a Pacific Life insurance claim on the company’s website or by calling customer service at 1-800-347-7787.

Is AIG or Pacific Life better for life insurance coverage?

Both AIG and Pacific Life have excellent customer service and financial strength. While Pacific Life’s rates average $26 monthly, you can get a term AIG life insurance policy starting at $11 per month. However, rates vary for several reasons, so get a Pacific Life insurance quote to know exactly what you’ll pay.

How do I contact Pacific Life about life insurance policies?

You can contact Pacific Life insurance customer service at 1-800-347-7787.

Can I convert my Pacific term life insurance policy to a whole life policy?

You can only convert your Pacific term life policy to an indexed universal or variable universal life insurance policy.

With the Pacific Life Promise Term, you can convert your term policy to a universal one at any time during the term until you turn 70. On the other hand, the Pacific Life Elite Term allows you to convert your policy if you’ve had the policy for at least a year.

How can I pay my Pacific Life insurance premium?

You can pay your Pacific Life insurance premium on the company’s website.

Your life insurance quotes are always free.

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Rachael Brennan

Licensed Insurance Agent

Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

Licensed Insurance Agent

Tim Bain

Founder & Life Insurance Agent

Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance.  His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada. 

Founder & Life Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

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