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Pacific Life vs. Transamerica life insurance

The battle between two companies best known for their universal life insurance policies.

Pacific Life and Transamerica are both financially strong insurers with decades of experience in the life insurance industry. They have similar offerings, but their differences in rates and riders might affect your decision.

Life insurance products with Pacific Life and Transamerica

Pacific Life
Variable universal
Indexed universal
Final expense
Protect your loved ones
Compare 12+ top insurers side-by-side to get the best possible deal, and shop return of premium policies online.

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Your rate is tailored to you and will reflect your age, gender, occupation and lifestyle. But generally, Pacific Life offers cheaper premiums than Transamerica.

If you’re a healthy nonsmoker, here’s an idea of what you can expect to pay for a $250,000, 20-year term life policy.

Pacific Life
Pacific Life

*Based on sample rates from Policygenius, August 2019.

Policy riders

Transamerica has a more robust selection of riders than Pacific Life. Depending on your policy, you might be able to customize your coverage with these add-ons.

Pacific Life Riders

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

Transamerica Riders

  • Waiver of premium rider
  • Estate protection rider
  • Final expense rider
  • Child and additional insured rider
  • Return of premium rider
  • Decreasing coverage rider
  • Whole life guaranteed insurability rider

Financial strength

As a policyholder, you want to be sure your insurer has the financial resources to pay your beneficiaries when you die. Both Pacific Life and Transamerica scored good ratings with the four major financial ratings.

As for customer satisfaction, Pacific Life edged out Transamerica in J.D. Power’s latest life insurance study, ranking ninth out of 23 companies surveyed.

Pacific Life
A.M. BestA+ (Superior)A (Excellent)
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”2 out of 5 circles or “the rest”

Customer reviews and reputation

Both insurers have work to do in terms of customer service. While Pacific Life has an A- rating with the Better Business Bureau (BBB), customers award the company 1 out of 5 stars. But the BBB records only three complaints in the past three years, which is relatively low for an insurance company.

It’s a similar story with Transamerica. Also rated A- by the BBB, the insurer was awarded 1.5 out of 5 stars by its customers. They filed 363 complaints against the company in the last three years, with many of the complaints pointing to a frustrating claims process.

Bottom line

These insurers offer a diverse product lineup and stand out for their universal policies and lenient underwriting standards. While they’re similar in many ways, Pacific Life’s policies tend to be cheaper, while Transamerica has a longer list of riders.

To find the policy that best suits your budget and needs, compare life insurance companies.

Compare life insurance companies

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
18 - 60 years old
5, 10, 15, 20, 25 and 30 years
Compare 40+ insurers and apply online to get the lowest possible price — no medical exam required.
Policygenius - Life Insurance
18 - 85 years old
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.
18 - 60 years old
10, 15, 20, 25, 30 years
Get a quote in less than 10 minutes with on-the-spot approval and no medical exam.
Everyday Life
20 - 75 years old
10, 15, 20, 25, 30, 35 and 40 years.
Ladder multiple life insurance policies to save on the coverage you need for all your debts.
20 - 60 years old
10, 15, 20, 25 or 30 years
No, for coverage up to $3M
Apply for term life insurance online without the medical exam. Get an instant decision and adjust your coverage at no charge.

Compare up to 4 providers

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