Pacific Life Insurance Review - 150 Years of Protection

Investing in life insurance is a protection everyone should have in place. No matter your age, ensuring your family and loved ones are financially protected if the worst were to happen is extremely important.
There are many different life insurance companies, types of life insurance, and customizable options that finding the right plan can feel overwhelming. To help, I’ll walk you through the options offered by one of the top names in life insurance — Pacific Life.

What is Pacific Life Insurance?

Pacific Life Insurance Company, based in Newport Beach, California, has been a trusted name in the life insurance industry for the past 150 years. It has over $171 billion in assets, making them financially stable, and donates over $7 million in contributions to communities across the country each year. In 2019 alone, it paid more than $2.7 billion in benefits to policyholders and is one of the best life insurance companies based on financial strength.
In addition to life insurance coverage, Pacific Life also offers mutual funds and annuities. It also offers real estate investment and pension risk-transfer solutions.

How does Pacific Life work?

Pacific Life offers five different types of life insurance:
  • Indexed universal life insurance - Best for anyone looking for flexible premiums who also want growth potential with index-based interest.
  • Variable universal life insurance - Best for anyone looking for flexible premiums and a wide selection of variable investment types.
  • Universal life insurance - Best for anyone looking for cash value life insurance with flexible premiums and death benefit protection.
  • Whole life insurance - Best for anyone looking for cash value life insurance with fixed premiums and death benefit protection.
  • Term life insurance - Best for anyone looking for a policy that lasts over a set period of time with fixed premiums and death benefit protection.
If you want more information on a specific life insurance product or are ready to enroll in a policy, you’ll enter your zip code in the “Find a Financial Professional” field where you’ll then be linked to nearby Pacific Life insurance providers near you. From there, you can reach out directly to receive a quote or start your application.

How much does Pacific Life insurance cost?

Pacific Life does not allow you to obtain online quotes. You’ll need to reach out to an insurance provider near you to secure quotes. Since Pacific Life offers a large selection of life insurance policy options, you can work with a financial professional to find a plan that meets your life insurance goals and fits your budget.

Pacific Life Insurance features

Universal and variable life insurance plan options

I love that Pacific Life offers a large variety of products to make it easier for anyone to purchase a life insurance policy that fits their lifestyle. Their flexible products allow for many customizations, such as insuring spouses on one policy and a choice in investment funds.

Fixed and flexible premiums

Another benefit Pacific Life offers is two different types of insurance policy options: fixed or flexible premiums. While some might need more predictability in payments and opt for a fixed plan, others might enjoy overall savings by signing up for a policy with flexible premiums.

Workplace benefits

In addition to their extensive life insurance products for individuals, Pacific Life also offers workplace life insurance benefit plans.

Who is Pacific Life Insurance best for?

Anyone looking for competitive rates

Although Pacific Life does not publish their rates online, it is well known for its competitive market rates, making them an ideal option for some low and middle-income families who might think they cannot afford effective life insurance policies.

Anyone looking for investment options

If you’re looking for a life insurance plan that offers investment options, Pacific Life is worth researching. It offers a few different products with investment potential and allows you to choose from a list of investment funds.

Who shouldn’t use Pacific Life Insurance?

Anyone located outside the Pacific Life service area

While Pacific life caters to most of the country, there are some zip codes located outside of the Pacific Life umbrella. Be sure to check your zip code on their online search to find out if you’re eligible for a Pacific Life insurance plan.

Anyone looking for the most affordable insurance option

Pacific Life does have competitive pricing, but it’s not the most affordable life insurance provider out there. If you’re looking for bare-bones, inexpensive life insurance, I’d recommend looking at other providers.

Pros & Cons


Vast product selection

Pacific Life really offers one of the most diverse product selections out there, allowing you to find the life insurance plan that makes the most sense for your wallet, financial goals, and familial needs.

Strong financial backing

Since Pacific Life is one of the top names in insurance, you won’t have to worry about the financial backing of this company. It is one of the most trusted names in the insurance world, which gives them a confident edge over new and online insurance competitors.

Positive customer reviews

Overall, Pacific Life has fairly positive customer satisfaction reviews, with few negative company reviews when compared to competitors. It also has an A- BBB (Better Business Bureau) rating.


No online application

I wish Pacific Life allowed you to apply for a policy directly online. While it tries to make finding an insurance provider near you as simple as possible, there are many competing insurance providers that allow you to apply directly online, saving you time in the signup process.

No online rates or quotes

Another online feature lacking from Pacific Life is an online quote feature or published rates. While policies will always vary from person to person, it would be nice to have a baseline number to use when comparing other policies.

Pacific Life Insurance vs. Competitors

InsurerOnline CalculatorCash PayoutsNo. of Life Insurance Products
Pacific Life InsuranceYesYes5
Northwestern MutualYesYes3
Chubb Life InsuranceNoYes2

Life Insurance Calculator

Deciding how much life insurance you need, what premiums you can afford, and how much you should be contributing to an IRA or other retirement fund can feel overwhelming. Pacific Life offers free calculators to help you better plan for your future and decide how much money you can afford to save and where it should go.

Workplace/Employee Insurance

Pacific Life offers whole life insurance options for workplaces that allow employees to select their own life insurance benefit plans.

Cash Payouts

Cash payouts are available though many of the Pacific Life insurance policy products (restrictions may apply).

Number of Life Insurance Products

One of the main advantages Pacific Life has over its competitors is the large number of life insurance policy options it offers. On top of offering five life insurance products, Pacific Life allows you to customize your plan even more, to best fit your family’s needs.


What types of life insurance are there?

There are typically three types of life insurance policies to choose from. These types include whole, universal, and term life insurance policies. Whole life insurance offers coverage for the rest of your life and has set premiums. Universal offers a similar structure, but with flexible premiums. Term life insurance offers coverage for a specified period of time, such as 10- or 20-year terms, and may have fixed or flexible premiums.

What questions will you be asked when applying for life insurance?

When applying for a life insurance policy with Pacific Life or another insurance provider, you’ll need to be able to provide general background information, medical history, driving history, work history, drug/medication usage, and family background. Your answers will be used to determine your insurance rate.

What’s the highest amount of life insurance you can get?

While the exact amount of life insurance you’re eligible for will vary from person to person and provider to provider, in general, you can expect a maximum of 25 times the amount of your annual income.

Is term or whole life insurance better?

There’s no simple answer to this question, but the choice will depend on your specific situation. While whole life insurance offers more coverage and benefits than term, it often costs more. Term, however, might be a good option if you want to cover a set amount of time in which you’ll be a primary family provider and your children or spouse will be dependents.

How long do you need to have a life insurance policy before you can use it?

Some life insurance policies kick in immediately after enrolling, but others take one to two years.

The bottom line

Finding the right life insurance policy is important in protecting your family in case of the worst. Pacific Life offers a wide selection of life insurance options that can help you find the right plan for your family. While Pacific Life does offer competitive rates and investment options, if you’re focused on finding the most affordable option, it’s worth obtaining life insurance quotes from online lenders and local insurance providers to compare quotes and coverage amounts.

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