Pacific Life Insurance Company
About Pacific Life Insurance Company
Founded in 1868, Pacific Life Insurance Company offers a comprehensive selection of life insurance products, financial products, and investment products to individuals and businesses across the U.S.
Compared to other national insurers, Pacific Life’s focus is on stakeholders (policyholders) rather than stockholders (Wall Street). As a member company to a large mutual holding company, the policyholders at Pacific Life share in company profits via annual dividends and are involved in the decision making process for the company’s operations.
The company’s conservative management and continuous ability to provide outstanding profit statements year after year have earned the company many industry accolades every year and the rating companies have consistently placed the company at or near the top for financial stability and financial outlook.
Pacific Life’s Financial Stability
After surviving the great depression of the 1930s, Pacific Life reorganized as a mutual company and never looked back. When insurance shoppers are searching for a company that offers affordable products, many consider Pacific Life because of the value they deliver and the financial stability they demonstrate by continually ranking very high with national rating services.Their current financial ratings for 2019 are:
|Rating Company||2019 Rating|
|Moody’s Investors Service||A1|
|Standard & Poor’s||A+|
Pacific Life Insurance Company Product Lineup
As mentioned earlier, Pacific Life never leaves a prospective client wanting when it comes to life insurance, retirement planning products, or investment products for individuals and businesses.
|LIFE INSURANCE||RETIREMENT/INVESTMENT PRODUCTS||BUSINESS|
|Term Life Insurance||Fixed Annuities||Commercial Mortgage Investments|
|Whole Life Insurance||Fixed Indexed Annuities||Real Estate Securities|
|Universal Life Insurance||Variable Annuities||Real Estate Investments|
|Indexed Universal Life||Immediate Annuities||Asset Management and Servicing|
|Variable Universal Life||Deferred Income Annuities|
For this article, we will discuss Pacific Life’s life insurance products.
Pacific Life Promise Term
Pacific Life offers its Promise Term policy for individuals and families who require affordable life insurance coverage for various reasons such as:
- Lost income due to the death of a breadwinner
- Pay off the home mortgage and other personal debts
- Pay final expenses such as funeral and burial costs
- Cover tuition for the education of your children
- Invest in retirement programs
Promise Term life insurance is available in policy terms of 10, 15, 20, 25, or 30-years with a minimum death benefit of $50,000 and the option to convert your term policy to a permanent one without regard to insurability.
For applicants who want more than a death benefit, Pacific Life offers additional coverages such as an Accelerated Death Benefit, Disability Waiver of Premium and a Children’s Level Term rider. Click here to review the Promise Term life insurance brochure.
Here is an example of Pacific Life’s Promise Term for a $500,000 20-year policy for a very healthy male or female non-smoker:
Age of Applicant Male Non-Smoker Female Non-Smoker
25 $20.19 $17.00
30 $20.19 $17.51
35 $21.159 $18.74
40 $30.26 $25.69
45 $49.30 $39.27
50 $75.22 $56.10
For accurate term insurance rates for your actual age, please use our instant term quotes on the right of this page.
Pacific Life ART
Pacific Life’s annual renewal term is designed for applicants who need short-term life insurance coverage. This annual policy is very affordable and can be renewed annually with the renewal rates based on the attained age of the policyholder.
The ART life policy can be renewed to age 95 and can also be converted to a permanent policy offered by the company without regard to insurability.
Universal Life Insurance
Pacific Life’s Universal Life Insurance is a flexible type of cash value life insurance that offers a guaranteed death benefit while earning a guaranteed minimum interest rate.
In order to accommodate prospective clients with different needs, Pacific Life offers four types of Universal Life policies:
- Versa-Flex Venture UL – This universal life product is all about choices. The Versa-Flex Venture UL offers flexible premiums, flexible coverage, flexible choices (riders) and guaranteed protection via the no-lapse coverage option. Find out more about Pacific Life’s Versa-Flex Venture UL.
- Versa-Flex NLG – Pacific Life’s Versa-Flex NLG policy was built for consumers who are in need of guaranteed life insurance protection, predictable premiums that can be adjusted for life events, financial flexibility, along with options to enhance your coverage via optional insurance riders. Find out more about Versa-Flex NLG.
- Pacific Estate Preserver III – As its moniker suggests this UL policy was designed with estate planning and preservation in mind. The Pacific Estate Preserver III is an essential solution for help heirs deal with inheritance and estate taxes.
- Pacific Life Promise GUL – For individuals and families that want guaranteed insurance coverage for a lifetime without the steep premium of whole life insurance, the Promise GUL provides a no-lapse guaranteed death benefit for your surviving loved ones. Learn more about Pacific Life’s guaranteed universal life insurance.
Indexed Universal Life
Indexed Universal Life insurance is gaining in popularity because of the constraints the government has placed on traditional retirement planning products and the probability of huge tax increases over the next two decades. Pacific Life offers four indexed universal life products to meet your financial goals and expectations:
- Pacific Discovery Protector IUL
- Pacific Discovery Xelerator IUL 2
- Pacific Indexed Accumulator 6
- Pacific Indexed Estate Preserver 3
Variable Indexed Universal Life
Pacific Life understands how important estate planning can be to partners and married couples who understand the risk of transferring large assets from owners to heirs. For this reason, the insurer offers the Pacific Select Survivorship VUL to mitigate the financial risk involved with transferring estates after the death of the second insured. Learn more about Pacific Select Survivorship VUL.
Whole Life Insurance
Pacific Life offers its FLEX 16 fixed premium, interest-sensitive Whole Life Insurance for family-owned and small businesses who prefer to offer a qualified retirement plan using life insurance. The FLEX 16 is also a great product for those consumers and small business owners to implement a “Be Your Own Banker” program. Learn more about the FLEX 16 Whole Life Insurance from Pacific Life Insurance Company.