The main focus of our Pacific Life review is to help unpack the benefits of the company and help our visitors determine if this company is the right fit. We work with the top rated best life insurance companies, including the top no medical life insurance companies. We focus on each company’s niche for health and lifestyle to determine what company would be the right fit in finding our clients the best life insurance rates.
Please note: We are not Pacific Life. You can visit the company online at www.pacificlife.com or call the company’s life insurance division direct at (800) 347-7787.
Pacific Life Insurance Reviews 2016
Your loved ones are the most important people to you, and you want to do anything you can to protect them. That includes buying a life insurance policy. You don’t want to cut corners or purchase a life insurance policy from a company that’s not good to its word. But which life insurance company will offer you the best coverage possible? Perhaps you’ve already started to gather some names of life insurance companies that seem to be good choices, and Pacific Life is one of them. But is Pacific Life the insurance company you need? Keep reading to find out.
About Pacific Life
Pacific Life is based in California and has been around for almost a century and a half. Over the last 145+ years, they’ve sold hundreds of thousands of financial products and continue to be a stable and reliable company. They are part of a mutual holding company.
Pros for Pacific Life Insurance
If you are a smoker, then you should definitely consider Pacific Life. Pacific Life tends to be one of the more affordable life insurance companies for tobacco users.
Indexed Universal Life
Pacific Life has a really good reputation for their indexed universal life insurance product; they were ranked #1 in terms of sales of this product from 2010-2012.
Many people find that Pacific Life offers an affordable product, especially for clients who purchase a policy early (45 and under).
If you are interested in being more involved in the growth of your investment, then Pacific Life offers policies that have investment options through mutual funds or stocks. This gives you the freedom to try for a higher return on your investment. If you are not interested in looking over your investment, you can opt for something more straightforward with a reliable return.
Pacific Life Ratings
There are many third party rating organizations that analyze financial strength and future projections of financial institutions such as life insurance companies. One of the most important rating agencies is known as A.M. Best Company. They have granted Pacific Life a rating of an A+. This is the second highest rating out of sixteen ratings, and shows that A.M. Best has confidence in what Pacific Life has to offer life insurance companies.
Pacific Life was also given great ratings by other important rating agencies:
- Fitch: A+ (Strong)
- Moody’s: A1 (Good)
- Standard & Poor’s: A+ (Strong)
Each of the top ratings agencies granted Pacific Life with a solid rating. This is a unanimous vote of confidence in Pacific Life as a company, and should reassure any life insurance policy seeker that Pacific Life is a great life insurance company.
Pacific Life Insurance Policies:
There are two main types of life insurance policies, permanent life insurance and term life insurance. Of these two main types, there are various products available. Pacific Life offers four types of policies:
- Term Life Insurance
- Universal Life Insurance
- Index Universal
- Variable Universal
Term life insurance is a great way to leverage your money. You can purchase more coverage with term life, which is beneficially when covering a large mortgage on your home, protecting the primary wage earner of the household, key person life insurance, or covering a small business loan.
Permanent coverage is a great choice for long term planning, such as life insurance for estate planning or business succession planning with a buy-sell agreement.
Negative Aspects of Pacific Life Insurance
Pacific Life is a great company and there aren’t any real “negatives” that life insurance seekers should be aware of. Most life insurance customers are happy with the product and service they receive from Pacific Life.
The only major drawback is that when you choose Pacific Life, you may be missing out on what another life insurance company has to offer. That’s not to say Pacific Life won’t offer you a great product, but there is a chance that another company would offer you something better or something more in line with your specific health and lifestyle.
For example, for our clients with diabetes, we have a few carriers that are our go to diabetic life insurance companies. If a diabetic applies with the wrong company, it could mean a higher premium or they could be declined.
Which life insurance companies are better than Pacific Life?
There is no way to answer this question because every situation is unique, and the answer will be different for each individual.
When a person applies for a life insurance policy, the life insurance company will try to assess the risk of insuring that person. They will take many things into consideration, such as: medical history, career, and overall health. Based on their own scale, they weigh each of these variables and then decide what kind of coverage they’ll underwrite and for what premium.
Pacific Life has the same process. It’s impossible to know whether or not Pacific Life is going to be the right life insurance company for you until we know about you! That’s what TermLife2Go is all about.
Can TermLife2Go tell me if Pacific Life is best for me?
Yes! Only after learning everything about you that a life insurance company would want to know can we begin to determine which company is really the best for you. We use the information we learn about you and your situation and compare it with the underwriting practices of dozens of the best life insurance companies in the United States.
For many, Pacific Life may be the best. But for some, it may not be. We have no vested interest in pushing a specific company. We never make a recommendation to you unless we whole-heartedly believe in our recommendation. You deserve to provide your loved ones with the best protection—and we help you do it.
Are you interested in knowing if Pacific Life is the best life insurance company for you? If so, call TermLife2Go today for a free consultation.
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