Understanding Pacific Life Insurance Company

Pacific Life has been offering insurance products since 1868. Starting in Sacramento as Pacific Mutual Life Insurance Company of…
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Pacific Life has been offering insurance products since 1868. Starting in Sacramento as Pacific Mutual Life Insurance Company of California, the company now offers a variety of life insurance coverage in almost every state in the United States. Pacific Life has grown into a large insurer servicing over 900,000 policyholders today. Additionally, the company has over $1 trillion in written policies. The organization is still a mutual insurance company, meaning that policyholders are owners of the company and receive annual profit-sharing dividends.

Pacific Life Insurance Company offers a range of term life, whole life, and universal life insurance policies with several policy riders available. Their broad range of life insurance products is well suited to meet the needs of most potential policyholders. With more than 150 years of experience and service in the insurance industry, Pacific Life is known for excellent customer service. While they have limited availability in New York, most Americans can access an insurance policy through Pacific Life. Let’s take a closer look at the Pacific Life company and the insurance products that they offer.

Available Plans


As discussed, Pacific Life has a range of product availability for policyholders. Term life insurance is one of the more popular policies offered by many companies. Pacific Life offers a Promise Term and an Elite Term policy. Both insurance policies are available in terms ranging from 10 to 30 years. Promise Term policies come in five-year increments, and Elite Term plan comes in 10-year increments. Both policies offer a tax-free death benefit to cover debts and provide financial assistance should something happen to the policyholder. A Promise Term policy begins at $50,000, and Elite Term coverage begins at $750,000. Available riders offer optional benefits for the policyholders, including the assurance of a premium waiver if you become disabled, an accelerated death benefit, and a terminal illness rider, among others. You can also convert your term life policy to a permanent policy for no additional fee or medical exam.

Pacific Life offers one whole life insurance policy that provides lifetime coverage if you continue to make premium payments. The whole life policy comes with several age restrictions coverage amounts that can be discussed when you are shopping for insurance quotes. Pacific Life’s whole life policies also build cash value over time and could provide policyholders with options to borrow against the policy during their lifetime. Pacific Life also offers several universal life plans as permanent policies with flexible premiums, coverage amounts, and long-term cash benefits.

Premium Rates


Life insurance companies offer coverage based on various factors such as your health, age, and lifestyle choices. No matter what type of life insurance policy you are considering, your situation and coverage requirements will influence your premium rate. Pacific Life policies average around $30 per month. However, you could end up paying significantly more or less depending on your circumstances. A healthy 25-year-old male pays around $10 a month for a Pacific Life Promise Term policy, for example. With several Pacific Life Insurance products available in most locations, you will be able to compare policies and rates.

Customer Service


Pacific Life is highly rated in the area of customer service. While they don’t offer as many online communication channels such as live chat, they offer extensive phone support. Data from the Insurance Commissioners Association assigns a customer complaint score to each major insurer. The median score among large providers is around 1.0. However, Pacific Life rates near the bottom with a score of 0.11. Compared to other companies of the same size, Pacific Life has better customer satisfaction than many others.

Pacific Life offers a wide selection of life insurance plans with the availability of numerous customizations. Given their plans, pricing, and customer satisfaction ratings, the company is a highly rated national insurance provider.