Pacific Life vs. Lincoln Financial: Which is better? | finder.com

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Pacific Life vs. Lincoln Financial

With these two insurers, the choice comes down to cost and customization.

These well-established insurers have solid financial ratings and strong product lineups. Pacific Life sits on the cheaper side of the spectrum, while Lincoln Financial caters to more complex life insurance needs.

Life insurance products with Pacific Life and Lincoln Financial

Pacific Life
Lincoln Financial
Term
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Whole
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Universal
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Variable
Variable universal
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Indexed universal
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Final expense

Costs

Your premium is a product of your age, gender, occupation and lifestyle. While it’s tailored to you, you’ll see higher premiums with Lincoln Financial.

If you’re a healthy nonsmoker, here’s what you might be charged for a $250,000, 20-year term life policy.

GenderAge
Pacific Life
Lincoln Financial
Male20
$15.66
$23.41
Male30
$15.91
$24.46
Male40
$21.48
$33.69
Male50
$42.73
$77.44
Male60
$123.29
$233.19
GenderAge
Pacific Life
Lincoln Financial
Female20
$12.99
$20.13
Female30
$13.47
$21.61
Female40
$18.57
$28.77
Female50
$36.95
$58.62
Female60
$87.12
$180.91

*Based on sample rates from Policygenius, August 2019.

Policy riders

Pacific Life offers common riders — like an accelerated death benefit — while Lincoln Financial has a more varied selection. Depending on your policy, these riders might be available to you:

Pacific Life Riders

  • Waiver of premium rider.
  • Accelerated death benefit rider.
  • Conversion rider.
  • Child rider.
  • Long-term care rider.

Lincoln Financial riders

  • Accidental death benefit rider.
  • Accelerated death benefit rider.
  • Guaranteed insurability rider.
  • Child rider.
  • Supplemental coverage rider.
  • Value protection rider.
  • Inflation protection rider.
  • Overloan protection endorsement.
  • Assured distribution endorsement rider.

Financial strength

An insurer’s financial strength is important because it points to their ability to pay claims. Pacific Life and Lincoln Financial scored top-tier ratings with the major ratings agencies, which means they have the cash to pay out claims for the foreseeable future.

In terms of customer satisfaction, Pacific Life ranked ninth out of 23 insurers surveyed in J.D. Power’s latest life insurance study, with Lincoln Financial tagging right behind at 11th.

Pacific Life
Lincoln Financial
A.M. BestA+ (Superior)A+ (Superior)
Moody’sA1 (Good)A1 (Good)
Standard & Poor’sAA- (Very strong)AA- (Very strong)
FitchAA- (High quality)A+ (Very high quality)
J.D. Power3 out of 5 circles or “about average”3 out of 5 circles or “about average”

Customer reviews and reputation

Though Pacific Life has an A- rating with the Better Business Bureau (BBB), it earns 1 out of 5 stars with customers. The BBB recorded three complaints in the past three years, which is low for a life insurance company. Most of the complaints had to do with life insurance payments and cancellations.

Lincoln Financial isn’t accredited with the BBB, but it has an A+ rating for its customer interaction. To date, there are no reviews or customer complaints on the site.

Bottom line

Both insurers can boast about their financial strength and product lineups. There are a couple of key differences between the two that may factor into your decision. Pacific Life is significantly cheaper, while Lincoln Financial has a wider range of riders to choose from.

To find out how other insurers stack up, compare life insurance companies.

Compare life insurance companies

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
Policygenius
18 - 85 years old
$50,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on provider and policy
Compare 12+ top insurers side-by-side to get the best possible deal, and shop return of premium policies online.
Sproutt
18 - 60 years old
$50,000
$4,000,000
5, 10, 15, 20, 25 and 30 years
No
Compare 40+ insurers and apply online to get the lowest possible price — no medical exam required.
Ladder
20 - 60 years old
$100,000
$8,000,000
10, 15, 20, 25 or 30 years
Depends on policy
Apply for term life insurance online without the medical exam. Get an instant decision and adjust your coverage at no charge.
Bestow
18 - 60 years old
$50,000
$1,500,000
10, 15, 20, 25, 30 years
No
Get a quote in less than 10 minutes with on-the-spot approval and no medical exam.
Everyday Life
20 - 75 years old
$100,000
$10,000,000
10, 15, 20, 25, 30, 35 and 40 years.
No
Ladder multiple life insurance policies to save on the coverage you need for all your debts.
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