Is Pacific Life a Good Insurance Company?
Over 100 Carriers to Quote From. Here are a few of them!
Is Pacific Life a good insurance company? At Diversified Insurance Brokers, we partner with over 100 top-rated carriers to help retirees and pre-retirees secure guaranteed income, protect their assets, and leave a lasting legacy. Pacific Life Insurance Company, founded in 1868, is one of the most recognized names in the financial services industry. Known for its strong financial ratings and diverse product portfolio, Pacific Life offers competitive annuities, life insurance, and retirement solutions designed to meet a variety of long-term goals.
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About Pacific Life
Pacific Life has been serving clients for over 150 years and is highly regarded for its financial stability and product innovation. The company offers a wide range of solutions including term life insurance, universal life, indexed universal life, fixed annuities, and fixed indexed annuities. Their commitment to competitive rates and flexible policy designs has made them a trusted choice for both income planning and wealth transfer strategies.
Popular Pacific Life Products
- Pacific Choice Income Annuity: A fixed indexed annuity with lifetime income options.
- Pacific Explorer MYGA: Multi-year guaranteed annuity with competitive fixed rates.
- Indexed Universal Life (IUL): Combines life insurance protection with index-linked cash value growth potential.
- Term Life Insurance: Affordable protection for a set period, with conversion options.
Who Pacific Life Is a Good Fit For
- Retirees seeking guaranteed lifetime income.
- Families needing affordable and flexible life insurance coverage.
- Investors looking for principal protection with growth potential.
- Those interested in wealth transfer and estate planning strategies.
Pros of Pacific Life
- Over 150 years of financial strength and stability.
- Diverse product lineup across both life insurance and annuities.
- Highly rated by independent rating agencies.
- Strong income rider and interest crediting options.
Considerations
- Some products have higher minimum investment requirements.
- Complex features may require professional guidance to maximize benefits.
Our Take
At Diversified Insurance Brokers, we view Pacific Life as one of the most dependable carriers for both retirement income planning and life insurance coverage. Their blend of financial security, competitive rates, and innovative product features makes them an excellent choice for retirees, pre-retirees, and families looking to protect and grow their assets.
FAQs: Is Pacific Life a Good Insurance Company?
What are Pacific Life’s financial strength ratings?
Pacific Life holds very strong ratings: A+ (“Superior”) from A.M. Best; AA- (Very Strong) from Fitch; Aa3 (Excellent) from Moody’s; and AA- from S&P Global, all with stable outlooks.
How is Pacific Life rated by customers in terms of complaints and satisfaction?
They have fewer customer complaints than expected for their size. Based on NAIC complaint indices, their complaint rate is below industry average. In recent J.D. Power studies, Pacific Life scored above the industry average for individual life insurance.
What types of insurance and annuity products does Pacific Life offer?
Pacific Life offers a broad variety: term life, permanent life (including universal, indexed, and variable), annuities (fixed, indexed, deferred, and income options), riders, conversion options, and more. Some products and features vary by state.
What are Pacific Life’s strengths?
Strengths include a long history (founded 1868), excellent financial stability, a strong and diverse product lineup, low complaint volume, solid customer satisfaction, and high marks from multiple independent rating agencies.
What are potential drawbacks or things to watch out for with Pacific Life?
Some considerations: certain policies aren’t available in all states, instant online quotes aren’t always offered, and the digital self-service experience may be more limited than some online-first insurers. Some customers report delays in paperwork or customer service after purchase.
Disclaimer: Ratings, product features, and customer service experiences may vary by state and over time. This is educational information, not insurance, legal, or tax advice.
