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Pacific Life Insurance review 2022

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Pacific Life Insurance has 150+ years of experience in providing a broad range of life insurance products to its policyholders. Headquartered in California, it sells policies throughout the U.S., although not all products are available in New York. Pacific Life scores well with agencies that measure financial stability, and Pacific Life Insurance reviews are excellent, meaning that this is a company that seems to take its clients seriously.

Perks Drawbacks
Top scores with AM Best and J.D. Power No online quote tool
Excellent assortment of policy options Medical exam required for all policies
Extensive rider list Limited customer service options
Policyholders can work with independent financial professionals Mobile app not available

Founded in 1868, Pacific Life sells a robust assortment of term and permanent life insurance policies throughout the U.S. It might be a good option for those who wish to customize their policy with riders, or add-ons, as well as those who want a broad choice of life insurance options. It sells policies for term life, whole life, universal life, indexed universal and variable universal life insurance.

Pacific Life has a financial strength rating of A+ with AM Best, indicating that the company has a history of being financially sound with well-managed resources. It scores above average on J.D. Power’s 2021 US Individual Life Insurance Study, earning 801 out of 1,000 points, which puts it in fourth place. That suggests that most policyholders have positive interactions with the company and a good claims experience.

Pacific Life insurance coverage types

There are two main types of life insurance for individuals — term and permanent — and Pacific Life offers both types. Some of its policies give you a choice of additional riders that can be added on to the policy, such as an accelerated death benefit that allows you to tap into your payout if you are terminally ill, or a child protection rider for children up to 18 years old. If you choose a term policy with the company, which has an end date, you can usually convert your policy to a permanent policy before the end of the term. Note that Pacific Life doesn’t offer guaranteed issue life insurance, which does not require medical exams.

  • Term: Pacific Life has two term options: Promise Term and Elite Term. Promise Term can be purchased for 10, 15, 20, 25 or 30 year terms. Elite Term is available for 10, 20 or 30 year terms, and has a 75-year-old age limit and potential coverage limit of up to $3 million. Term insurance is usually cheaper than permanent, and includes a death benefit that pays out to your beneficiaries if you should die before the end of the term. It’s a common choice for families with children.
  • Permanent: Also called cash value life insurance, permanent policies last throughout your life (in most cases), as long as premiums are paid. They feature a death benefit as well as a savings function that you can borrow against, called the cash value. The types of permanent policy that Pacific Life offers include universal life, variable universal life, indexed universal life, and whole life. There is also life insurance with long-term care benefits.

Pacific Life services

In addition to its extensive life insurance offerings, Pacific Life offers a range of annuities, including variable, fixed, fixed indexed, immediate and deferred income annuities. Annuities can provide a reliable income stream in retirement, and are often popular with those planning for their golden years.

Pacific Life also sells mutual funds, and it offers services at the institutional level as well, such as pension management and commercial real estate and structure settlements.

Other Pacific Life perks worth considering

  • Insights blog features educational articles on retirement planning, estate planning and more.
  • Provides general estate planning services for clients.
  • Variable life policies allow you to choose from a range of investment funds offered by firms such as J.P. Morgan and others.
  • Highest-level policies feature coverage limits of up to more than $3 million.
  • Some life insurance policies may feature dividend payments.

Pacific Life insurance customer and claims satisfaction

Pacific Life has high scores with agencies that monitor financial health. AM Best rated the company A+ (superior) and S&P Global gives it an AA- (very strong). These scores indicate that the company is well-managed and has a history of maintaining the financial resources to pay out on all claims, no matter how large. While there is no guarantee for future claims, a strong financial rating from these agencies could give customers peace of mind that a company is on the right track.

Pacific Life also scores well above average on J.D. Power’s rankings, which are based on customer satisfaction. The National Association of Insurance Commissioners (NAIC), meanwhile, gives Pacific Life a ranking of 0.05 on its complaint index, which indicates it receives fewer complaints than the industry average of 1.0.

Pacific Life social responsibility

Pacific Life works hard to be a good corporate neighbor on its home turf in California and beyond. In 2020, for example, it contributed $7.25 million to a variety of charitable endeavors, and awarded grants to 467 grantees.

The company’s employees clock in thousands of volunteer hours annually with the support of management. Charitable initiatives are focused on the areas of arts and culture; civic, community and economic development; education; environment, ocean health and marine mammals; and health and human services.

Not sure if Pacific Life is right for you? Consider these alternatives

To find the right insurance policy for your needs, it may help to shop around. There are many highly-rated companies selling policies in the U.S., and one of them might be right for you. So if you’ve taken a look at Pacific Life and it doesn’t feel like a good fit, you might want to look at some other highly rated companies:

  • State Farm: State Farm is J.D. Power’s top choice for customer satisfaction, and it won best term life insurance provider in the 2022 Bankrate Awards; it has four types of policies and an excellent online experience.
  • MassMutual: Massachusetts Mutual has been selling life insurance since 1851, and won the 2022 Bankrate Award for best whole life insurer based on impressive financial strength ratings and highly customizable policy options.
  • Nationwide: Nationwide is in second place with J.D. Power and won the Bankrate Award for best universal life insurer, for its great digital tools, high coverage limits and customizable policies.
Written by
Mary Van Keuren
Insurance Contributor
Mary Van Keuren has written for insurance domains such as Bankrate,, and The Simple Dollar for the past five years, specializing in home and auto insurance. She has also written extensively for consumer websites including and Slumber Yard. Prior to that, she worked as a writer in academia for several decades.
Edited by
Insurance Editor