Pacific Life insurance review 2019 |

Everything you should know about Pacific Life insurance

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Ranked number one for indexed universal permanent life insurance.

As a frontrunner in universal life sales, Pacific Life has made a name for itself as the go-to for universal life insurance policies. Rated A+ by A.M. Best, this provider offers an easy online application with the ability to receive your policy by email.

Learn more about who it’s best for and what to expect with this nationwide insurer.

What is Pacific Life known for?

Founded in 1868, Pacific Life is a long-running insurance provider focused on a diverse set of universal life policies along with term life, annuities and mutual funds.

Pacific Life is a mutual holding company. This means that it’s owned by its policyholders who then receive yearly profits in the form of dividends or reduced premiums.

Wink’s Sales and Market Report ranks Pacific Life as the number one indexed universal life insurance performer. It’s made a name for itself as one of the leaders in the universal permanent life space.

But this business is also committed to helping out, announcing a $7 million giving program through its Pacific Life Foundation that supports local charities and giving back to the community.

Pros and cons of Pacific Life insurance


  • Easy online application.A short application gets you started and after a phone interview, your policy is delivered to your email inbox.
  • Lenient eligibility.Customers say that health requirements tend not to be as strict as competitors.
  • Wallet-friendly.Rates are low if you’re younger than 45 with good to excellent health.


  • No online updates.To update your personal information, you’ll need to call. And changing your beneficiaries or canceling your policy requires official forms.
  • Phone interview required.After applying, you must speak with an underwriter to learn your rates and policy options.

Life insurance companies like Pacific Life

Name Product Issue Ages Coverage Range Medical Exam Required
18 - 85 years old
$10,000 to $10,000,000+
Depends on provider and policy
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Leap Life
Leap Life
18 - 75 years old
$100,000 to $5,000,000
Depends on provider and policy
Apply for a simple instant-decision policy free of charge. Compare quotes from multiple A-rated carriers.
21 - 54 years old
$50,000 to $1,000,000
Affordable 2-, 10- and 20-year term life insurance policies. Instant quotes and no medical exams.
18 - 80 years old
$50,000 to $25,000,000
Depends on provider and policy
Get a quote within minutes from more than a dozen insurers.
18 to 80 years old
$25,000 to $10,000,000
Depends on provider and policy
Compare quotes from over 40 highly rated carriers and get coverage shortly after approval.
20 - 80 years old
$25,000 to $10,000,000
Quickly get a quote for coverage with this marketplace, which compares term life insurance policies from 45+ carriers.
20 to 60 years old
$100,000 to $8,000,000
Term life insurance with no policy fees and the freedom to cancel anytime. Simple application process that can get you approved for coverage instantly.
18 - 75 years old
$25,000 to $10,000,000
Yes, for policies over $1 million
Term life insurance with no medical exams for $1 million of coverage or less. Online application gets you a decision in 10 minutes.

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What life insurance coverage does Pacific Life offer?

Pacific Life offers a suite of term and permanent life insurance policies, but universal coverage is where it shines.

Term life

Pacific Life offers term life policies with fixed premiums over 10, 15, 20 and 30 years. Options include standard and short-term Pacific-ART coverage renewable each year. Lower recalculated terms go to those who can prove a clean bill of health.

Universal life

Pacific Life’s offers a suite of universal life options. It promotes six standard policies under various names that include Pacific Prime, Pacific Estate and Pacific Premier — each based on your age, health and financial goals.

Variable universal life

Pacific Life offers policies for basic variable universal, cash accumulation, survivorship and asset preservation under the brands Pacific Select and Pacific Prime.

Indexed universal life

Indexed universal life policies have the potential for greater cash accumulation because they tie a portion of your contract to a market index like the S&P 500. Pacific Indexed policies vary by death benefit, cash accumulation or estate tax preservation.

What’s not covered in my policy?

Standard policies typically don’t extend into protection against unexpected disabilities or illness. Nor do they tend to cover long-term care or coverage for dependents.

To expand your coverage, Pacific Life offers a handful of riders that vary by policy, but include:

  • Conversion rider. Prime term policies offer this rider that allows you to convert to a new policy without charges or new insurability in a specified year.
  • Waiver of premium. Waives your premiums after six months if you become fully disabled.
  • Accelerated death benefit. If you become terminally ill, this rider pays out a portion of your death benefit at no additional cost.
  • Dependent children’s rider. Extends your protection to cover a child in your home.
  • Long-term-care rider. Covers assisted living and nursing home costs.


How can I get the best rate?

Pacific Life isn’t as forthcoming as its competitors in disclosing the specific eligibility requirements for its preferred rates.

Generally, you’ll need to be in prime health and meet guidelines that can include:

  • A minimal or no history of tobacco use.
  • No history of alcohol or substance abuse.
  • A personal and family health history free of disease or impairments.
  • A clean driving record — no DWIs, DUIs, suspensions and other convictions.
  • Healthy blood pressure and BMI.
  • Low-risk occupation and hobbies.

Call Pacific Life to learn more about how you can land the lowest rates you’re eligible for.

How do I file a claim?

To file a claim with Pacific Life, you must call an agent at 800-347-7787 weekdays from 5 a.m. to 5 p.m. Pacific time.

After starting the process by phone, you’re sent a claims packet of relevant, appropriate documentation to submit. Documents are likely to includes a death certificate for the beneficiary and original forms.

Pacific Life reviews your documentation before releasing your death benefit to beneficiaries.

What do others say about Pacific Life?

Top rating companies like A.M. Best and the Better Business Bureau both rate Pacific Life an A+. These ratings tend to show that the company is financially stable and historically able to pay out claims.

Online customer reviews indicate overall satisfaction with policies and support, though you’ll see negative reviews citing policy restrictions and incorrect information from agents.

What other services does Pacific Life offer?

In addition to its many universal life policies, Pacific Life offers annuities and mutual funds to help you plan for retirement. Use these products to save for later or supplement your retirement income.

Bottom line

Pacific Life is a long-standing leader in universal life insurance sales. You can extend the protection of standard policies through a series of riders to cover your children and unexpected bumps along the road of life.

But if you’re interested in a term policy at the best rates you’re eligible for, you might want to compare other options to find a policy that fits your needs.

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