Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Oct 12, 2021

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The Truth in a Nutshell

  • Pacific Life Insurance Company sells term, whole, and universal life insurance policies
  • The average insurance rates for this company cost $38.80 per month for a term policy with a $250,000 death benefit
  • It has been in business for more than 150 years

Pacific Life Insurance Company sells a variety of life insurance products: universal, term, and whole life insurance policies as well as annuities and investment products.

Pacific Life refers to Pacific Life Insurance Company and Pacific Life & Annuity Company. Insurance products are sold by Pacific Life Insurance Company in all states except New York, while in New York, policies are issued by Pacific Life & Annuity Company. Each insurance company is liable for the financial obligations under the product it issues.

With a broad range of life insurance offerings, Pacific Life can address the needs of many potential customers. Most of their policies come with a variety of riders for easy customization.

How much does life insurance cost on average? About $26 per month. However, the average Pacific Life insurance quotes are $38.80 per month.

Keep reading to learn more about this company and discover if it is right for you.

Pacific Life insurance rates may not be active or available where you live, but you can find the best life insurance carriers near you by entering your ZIP code into our free quote tool above.

What are the average Pacific Life insurance rates?

Your insurance quotes depend on your current health, age, gender, lifestyle choices, and medical history.

However, a term policy with a $250,000 death benefit from this company costs $38.80 per month on average.

The table below compares the average monthly rates for the different term-length policies from this provider with a $250,000 death benefit organized by age and gender.

Pacific Life Insurance Average Monthly Term Rates
AgeFemale Average Monthly Rates for a 10-Year-TermMale Average Monthly Rates for a 10-Year-TermFemale Average Monthly Rates for a 20-Year-TermMale Average Monthly Rates for a 20-Year-TermFemale Average Monthly Rates for a 30-Year-TermMale Average Monthly Rates for a 30-Year-Term
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As you can see, depending on your age and medical history, you can secure affordable Pacific Life insurance rates.

If you choose to buy Pacific Life insurance, you’ll find no quote tools on the company website. Instead, you must search for available products by state. You must then contact a local agent directly.

The underwriting process takes about three to four weeks before a decision is made about your application.

However, temporary coverage is also available should you require it.

Afterward, you create a Pacific Life login on the provider’s website to manage your policy, pay premiums, and file claims.

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What insurance products does Pacific Life offer?

This company sells the following types of life insurance: term, whole, and universal life insurance products. Group insurance is also available for businesses.

Unfortunately, there are no accelerated underwriting options from Pacific Life.

You must complete a medical examination to receive coverage.

On the other hand, all term policies through this company convert into whole policies. However, some age restrictions apply to the term life insurance policies.

Available riders include an accelerated death benefit, child protection, and a disability waiver of premiums.

The company also sells variable and indexed universal life insurance. These policies offer more flexibility and a more comprehensive range of investment options.

Pacific Life annuities are also available. However, not every product or policy is active in every state.

What are the Pacific Life ratings and reviews?

Looking at financial ratings and customer reviews for life insurance providers can help you determine if you can genuinely rely on the company before signing any contracts.

Fortunately, this company’s ratings and reviews are above average.

It received an A.M. Best financial score of A+, a mark of financial stability and reliability.

Check out a few other financial rankings for this company from reputable organizations below:

  • Moody’s Investor Service: A1 (Good)
  • Standard & Poor’s: AA- (Very Strong)
  • Fitch: A+ (Strong)

With $158 billion in total assets and $12.2 billion in equity, you can trust this company to pay out your claims efficiently and correctly, even in the event of an economic downturn.

The complaint index for this company, 0.02 as reported by the National Association of Insurance Commissioners (NAIC), is also promising. Any number lower than 1 indicates fewer customer complaints than average.

Overall, customers of this company appear to be happy with the services it provides.

What is the history of Pacific Life Insurance?

Initially headquartered in California, Josiah Howell, Simon Schreiber, and Leland Standford founded the Pacific Life Insurance Company in 1868.

By 1905, the company was present in 40 different states and territories. Then, in the 1930s, it started supporting the United Way.

In 2005, the company moved its domicile to Nebraska for tax purposes.

For over 150 years, clients across the nation have trusted it with retirement assistance and life insurance needs.

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Pacific Life Insurance: What’s the bottom line?

Overall, this company is excellent for people in moderate to good health looking for basic life insurance coverage.

Pacific Life works well for people with low-risk health concerns, including weight gain, high cholesterol, hypertension, controlled mental health disorders, and gastrointestinal issues.

However, a medical exam is required for every coverage option. Therefore, those with higher-risk medical conditions may need to look elsewhere.

Those looking to invest in annuities or indexed and variable universal life insurance should also consider asking for a life insurance quote from this company.

Pacific Life has excellent financial strength, stability, and more than 150 years of expertise in retirement and life insurance solutions that will protect your future and help you reach your goals. In order to sell life insurance, the financial professional must be properly licensed and appointed life insurance producer.

However, the company doesn’t offer online resources such as online applications for all types of life insurance policies or easy online quotes.

Pacific Life insurance quotes might not be available in your location, but you can enter your ZIP code into our free rate tool below to discover what life insurance companies are active near you.