Pacific Life Insurance Company Review (2025) – Rates, Policies & Underwriting

Pacific Life Insurance Company is a well-established provider known for its strong financial stability, flexible life insurance options, and competitive underwriting.

But is it the right fit for you? In this review, we’ll break down everything you need to know, including pricing, policy options, financial strength, underwriting advantages, and digital convenience.

Founded in 1868, Pacific Life is headquartered in Newport Beach, California, and operates as part of Pacific Mutual Holding Company. With $191 billion in assets and $1.3 trillion of life insurance in force, it remains one of the most financially stable life insurance providers.

Pacific Life offers a variety of life insurance policies, including term life, universal life, and indexed universal life (IUL). It’s also recognized for its favorable underwriting for high-risk individuals, making it a strong choice if you have health conditions or unique circumstances.

Financial security is one of the most important factors when choosing an insurance company. Pacific Life has consistently received strong financial strength ratings:

• AM Best: “A+” (Superior)
• Fitch: “AA-” (Very Strong)
• Moody’s: “Aa3” (Excellent)
• S&P Global: “AA-” Very Strong)

These ratings indicate that Pacific Life has the financial backing to meet its obligations, ensuring your policy remains secure in the long term.

Pacific Life is committed to giving back through the Pacific Life Foundation, which has donated over $150 million in the past 36 years. It actively supports health initiatives, ocean conservation, and community services.

Pacific Life was named one of the 2022 World’s Most Ethical Companies by the Ethisphere Institute.

Pacific Life offers affordable life insurance, catering to different needs:

The PL Promise is a competitive term life insurance policy.

• Available in 10, 15, 20, 25, and 30-year terms.
• Coverage starts at $50,000
• Competitively priced with strong underwriting for healthy and high-risk applicants.
• Convertible to a Universal Life policy at any time during the level premium period (up to age 70) without underwriting.

PL Promise GUL is a no-lapse guaranteed universal life insurance policy with death benefit guarantees from age 90 to 121.

• No-lapse guaranteed universal life insurance
• Death benefits are guaranteed up to age 90 and extendable to age 121
• Coverage starts at $25,000, making it a great alternative to final expense insurance.
• Return of Premium (ROP) Feature in years 15, 20, and 25.

Pacific Life offers several index universal life policies, including:

• Horizon IUL 2 – Focuses on death benefit protection with competitive guarantees
• Horizon ECV IUL – Designed for early cash value accumulation (great for business owners)
• Horizon Survivorship IUL – Covers two individuals under one policy

Other top competitors for indexed universal life include Lincoln Financial Group and Corebridge Financial.

This hybrid policy provides whole-life insurance coverage along with long-term care benefits.

Pacific Life policies come with several options to enhance coverage:

• Accelerated Death Benefit Rider – Access a portion of the death benefit if diagnosed with a terminal illness (included at no extra cost).
• Waiver of Premium Rider – Waives policy premiums if you become totally disabled.
• Children’s Level Term Insurance Rider – Up to $10,000 in coverage per child (ages 15 days to 18 years).

Pacific Life stands out for its flexible underwriting, particularly for individuals with pre-existing health conditions.

• Accelerated Underwriting
  • Available for ages 18-60
  • Coverage limits: Up to $3 million (term) or $2 million (GUL)
  • May allow applicants to skip paramedical exams for faster approvals.
• Modified Underwriting
  • If you’ve had a physical exam and lab work within the past 12 months, Pacific Life may use those results instead of requiring a new paramed exam.
• Traditional Underwriting
  • If you don’t qualify for accelerated or modified underwriting, you’ll go through the traditional process, which includes medical exams and record reviews.

• BMI up to 33 (age <65), BMI up to 35 (age 65+)
• Mild asthma, controlled depression/anxiety (2 or fewer medications)
• Favorable underwriting for sleep apnea (mild to moderate cases)
• Industry-leading coverage for HIV+ applicants
• Strong acceptance rates for Crohn’s and ulcerative colitis
• No extra charges for recreational scuba divers (<130 feet)
• Favorable underwriting for private pilots flying 26-150 hours/year

What Happens Next Consumer Guide

Pacific Life recently updated its rate class names.

Old Rate Class Name	New Rate Class Name
Preferred Best No Nicotine	Super Preferred Non Tobacco
Preferred No Nicotine	Preferred Non Tobacco
Select No Nicotine	Standard Plus Non Tobacco
Standard No Nicotine	Standard Non Tobacco
Preferred Nicotine User	Preferred Tobacco
Standard Nicotine User	Standard Tobacco
No Nicotine Rated	Non Tobacco Rated
Nicotine Rated	Tobacco Rated

Modern consumers expect an easy application process. Pacific Life delivers with:

• Online Quotes
• Digital Application Process
• Electronic Policy Delivery

However, it does not offer instant approvals like Banner Life or Symetra.

Pacific Life is competitively priced, especially for term and universal life insurance. While not always the cheapest, it balances cost, policy benefits, and underwriting flexibility.

Pacific Life has a solid reputation for customer service, offering multiple ways to manage policies:

• Customer Service Phone Number: 800-800-7646
• Online Account Access: Available through Pac Life’s website – here
• Corporate Headquarters: 700 Newport Center Drive, Newport Beach, Ca. 92660

Customer Service Phone Number: 800-800-7646

Online Account Access: Available through Pacific Life’s website – here

Corporate Headquarters: 700 Newport Center Drive, Newport Beach, CA 92660

Pacific Life is a strong choice for consumers looking for financially stable, flexible life insurance policies. It excels in:

• Underwriting for high-risk individuals
• Term and universal life insurance pricing
• Customizable IUL policies

However, companies like Banner Life or Symetra may be better options if you need instant approvals.

Want to compare Pacific Life to other insurers? Get a free quote today and see if it’s the right fit for your needs.