Pacific Life Insurance Company Review

Pacific Life Insurance Company is a trusted provider known for its wide range of life insurance products and strong financial stability.

This review explores their offerings, ratings, and application and underwriting process.

Pacific Life is a highly rated life insurance company, known for its competitively priced life insurance products, and aggressive underwriting with some high-risk life insurance cases.

Since 1868, Pacific Life has focused on helping its customers from its Newport Beach, California headquarters. With $191 billion in assets and $1.3 trillion of life insurance in force, Pacific Life is a well-respected leader in the industry.

Pacific Life boasts strong financial ratings and a wide range of policies to meet your needs. Below are its financial ratings as of October 2024.

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

With its strong financial backing, this company has proven its reliability to policyholders. The company’s robust financial ratings indicate its ability to meet long-term commitments.

The Pacific Life Foundation has donated more than $150 million over the last 36 years, and its grant programs gave away $8.4 million in the past year.

Pacific contributes to health and human services, the arts, community needs, ocean health, and marine mammals in their local communities.

PAC Life has several term life and universal life insurance options.

The PL Promise is a competitive term life insurance policy

• Minimum Policy Size – $50,000
• Underwriting Rate Classes
  • Preferred Best No Nicotine
  • Preferred No Nicotine
  • Select No Nicotine
  • Preferred Nicotine
  • Standard Nicotine
• Term lengths available
  • 10-year term – Age 18 – 80
  • 15-year term – Age 18 – 75 (70 for smokers)
  • 20-year term – Age 18 – 65
  • 25-year term – Age 18 – 60 (55 for smokers)
  • 30-year term – Age 18 – 55 (50 for smokers)
• Conversion is available during the level-guaranteed term or until age 70, whichever comes first.
• Riders available:
  • Accelerated Death Benefit Rider
  • Children’s Level Term Insurance Rider – 15 days to 18 years – $10,000 per policy, $20,000 max per child.
  • Waiver of Premium Rider

PL Promise GUL is a no-lapse guaranteed universal life insurance policy.

• Minimum Face – $25,000
• Issue Ages – 0-80
• Guarantee Range from 90-121 is possible
• Return of Premium Enhanced Surrender Value Rider
• Waiver of Month Deduction Rider
• Terminal Illness Rider – 75% of death benefit up to $500k
• Children’s Term Rider – $10,000 is available

Pacific’s decision to consider $25,000 in coverage is unique, as most companies do not offer that little coverage.

Whole life insurance policies are not available with Pacific Life

The PremierCare Choice policy is a whole-life policy with long term care benefits.

Yes, Pacific Life offers the PAL+ (Pacific Accelerated Life) underwriting program offers up to $3 million in term life insurance or $2 million in guaranteed universal life insurance.

• Ages 18-60
• $50,000 – $3 million of coverage
• Evidence of routine medical care in the past three years
• Not previously rated or declined for life insurance.
• No medical exams
• No medical records
• Choice of Online or Phone Health History Interview

What Happens Next Consumer Guide

The PAL+ Modified Underwriting requires that you’ve had a physical exam with lab results within the past 12 months.

Other aspects of the modified program include:

• Available for ages 18-70
• Up to $3,000,000 for term life insurance
• Up to $2,000,000 for universal life insurance
• Choice of Online or Phone Health History Interview

If you do not qualify for the accelerated or modified underwriting programs, your application will continue with traditional underwriting and will require a paramed exam and medical records from your doctors.

Pacific Life is competitive in many areas, including:

• Build – BMI to 33 up to age 65. BMI to 35 for ages 65+
• Depression/Anxiety – Well controlled with two or fewer medications.
• Asthma – Mild asthma that is controlled
• Sleep Apnea – Best rates for mild sleep apnea and preferred for moderate/severe are possible.
• Very competitive for Crohn’s and Ulcerative Colitis
• HIV+ Underwriting

Pacific Life has been the best overall company for HIV life insurance. The underwriting offers have been so competitive that we’ve been able to save our clients money 3-4 years after they bought a policy with other companies.

Non-medical underwriting niches include:

• Recreational scuba diving to less than 130 feet.
• Private pilots who fly 26-150 hours per year.

Pacific Life has some specific guidelines related to your private aviation activities, including:

We always shop cases to Pacific Life as they can sometimes be very good with underwriting.

PAC Life is available to help you with your customer service. Whether you need to make policy changes or update billing, etc., PAC Life is there to help.

The Customer Service Phone Number is 800-800-7646

You may log in to policy information online with Pacific Life – here

Pacific Life’s corporate headquarters is located at – 700 Newport Center Drive – Newport Beach, California 92660

Pacific Life Insurance Company is a highly rated company with many types of insurance policies to meet your needs.

Please take a few minutes to request a quote today.

We’ll show you how Pacific Life compares to other carriers and let you decide which company is best. Thank you.