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Pacific Life vs. Lincoln Financial

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

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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.

Gender Age
Pacific Life
Lincoln Financial
Male 20
$15.66
$23.41
Male 30
$15.91
$24.46
Male 40
$21.48
$33.69
Male 50
$42.73
$77.44
Male 60
$123.29
$233.19
Gender Age
Pacific Life
Lincoln Financial
Female 20
$12.99
$20.13
Female 30
$13.47
$21.61
Female 40
$18.57
$28.77
Female 50
$36.95
$58.62
Female 60
$87.12
$180.91

*Based on sample rates from Policygenius, August 2019.

Compare life insurance rates

Compare quotes for life insurance policies starting at $15/month.

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. Best A+ (Superior) A+ (Superior)
Moody’s A1 (Good) A1 (Good)
Standard & Poor’s AA- (Very strong) AA- (Very strong)
Fitch AA- (High quality) A+ (Very high quality)
J.D. Power 3 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
Prudential
18 - 75 years old
$100,000
$10,000,000
10, 15, 20, 30 years
Yes
Customize your term life insurance with a long list of life and disability riders. Get a free quote on Policygenius.
Transamerica
18 - 75 years old
$25,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on policy
Purchase a policy worth anywhere from $25,000 to $10 million, with the option to skip the medical exam. Get a free quote on Policygenius.
MassMutual
18 - 80 years old
$2,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on policy
Purchase term life insurance up to age 80 with Finder's #1 ranked company. Get a free quote from this A+ rated insurer on Policygenius.
AIG
AIG
20 - 85 years old
$5,000
$2,000,000
10, 15, 20, 25, 30, 35 years
Yes
Buy term life insurance all the way up to age 85, and choose a policy that lasts up to an incredible 35 years. Get a free quote on Policygenius.
John Hancock
18 - 65 years old
$25,000
$1,000,000
10, 15, 20 years
Depends on policy
Score a low rate on term life insurance with discounts and rewards for your healthy habits. Get a free quote on Policygenius.
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