Bankrate conducts an extensive annual insurance study to help our readers choose the carrier that can meet their individualized needs. Based on our assessment, customers who prioritize customer service and rider options could find Pacific Life to be the best life insurance company for them. However, due to the company’s lack of a mobile app, those who prefer digital policy management might have better options.
There are two main types of life insurance for individuals — term and permanent — and Pacific Life offers both:
- Term: Pacific Life has two term options: Promise Term and Elite Term. A Promise Term policy can be purchased for 10-, 15-, 20-, 25- or 30-year terms. An Elite Term policy is available for a 10-, 20- or 30-year term, has a 75-year-old age limit and has a potential coverage limit of over $3 million.
Term tends to be the cheapest type of life insurance and includes a death benefit that pays out to your beneficiaries if you should die before the end of the term. Term life insurance is a popular option for families with young children. Many people carry term life insurance while their children are young to leave behind some financial protection in case they pass away while their children are still dependent. - Permanent: Unlike term policies, permanent policies are intended to cover you for your entire life. Pacific Life offers a few different types of universal life insurance policies, which come with a cash value component. The cash value can grow over time, and you may be able to borrow against it.
Permanent life may be a good choice for those who are willing to pay more for the peace of mind that their policy will not expire (as long as they pay their premiums).- Universal: Universal policies have flexible premiums, and you can increase or decrease your death benefit while the policy is active. Universal policies can grow over time as the company invests the cash value portion of your policy in its portfolio. Pacific Life has two types of universal policies: Versa-Flex Venture Universal Life (UL) and PL Promise Guaranteed Universal Life (GUL).
- Indexed universal: Like regular universal policies, indexed universal policies have flexible premiums and death benefits. However, rather than investing the cash value portion of your policy in its portfolio, the company invests it into fixed index stocks and options. The cash value of this policy can go up or down; however, there are caps on how much you can earn and guaranteed floors to financially protect you from market losses. Pacific Life offers up to four different types of indexed universal policies. Due to the complexity of this product, it may be a good idea to contact the company directly if you have further questions.
- Variable universal: Variable universal is similar to indexed universal, although the cash value of this policy is invested in the stock market and can be capped. Pacific Life offers five types of variable universal life insurance policies, and like indexed universal, it may be best to contact a life insurance professional for further guidance.
Since Pacific Life offers so many types of life insurance with different coverage capacities and features, you might want to figure out how much life insurance you need by using a life insurance calculator or consulting a licensed life insurance agent.
Pros and cons of Pacific Life insurance
As you conduct your Pacific Life insurance review, here are a few key points to help you understand the company’s strengths and potential limitations.
Although Bankrate’s Pacific Life Insurance review is comprehensive, you might still be wondering if this is the carrier that can meet all of your needs. If you’re still comparing life insurance quotes, you might want to consider reaching out to some (or all) of the companies below:
Pacific Life vs. State Farm
State Farm won the 2025 Bankrate Award for Best Term Life Insurer, partly due to the company’s high customer service satisfaction and digital tools. Plus, State Farm offers a no-medical exam option, making it easier for people to sign up. Since Pacific Life does not offer a mobile app, State Farm could be a good alternative for those who prefer to take a hands-on approach to their insurance. That said, Pacific Life won the 2025 Bankrate Award for Best Universal Life Insurer, so people shopping for a permanent policy might consider Pacific Life over State Farm.
Pacific Life vs. MassMutual
MassMutual is another 2025 Bankrate Award winner, but the company earned this distinction because of its whole life insurance products. Pacific Life does not offer a whole life product, so those interested may want to consider MassMutual instead. MassMutual boasts an impressive list of rider options, coverage capacity and a financial strength rating of A++ (Superior) from AM Best.
Pacific Life vs. Nationwide
Along with term, whole, universal and variable life insurance, Nationwide also offers car and home insurance, which could appeal to those who prefer to keep all their insurance policies under the same roof.
Navigating the intricate realm of life insurance can be challenging, but Bankrate’s insurance editorial team, which includes licensed insurance agents, strives to guide readers toward informed decisions about their life insurance needs and financial aspirations. When contemplating whether Pacific Life fits the bill, it's essential to acknowledge that individual needs can vary significantly.
Bankrate found that Pacific Life has a long-standing history and solid financial background. This means the company has no problem paying out benefits and annuities to its policyholders. Pacific Life reviews also show that customers are satisfied with the level of service and products offered by the insurer.
That being said, some might be disappointed in the lack of digital options like a quote system or mobile app. However, policyholders who enjoy working one-on-one with insurance agents might be happy with Pacific Life. If you’re interested in the company’s wide array of offerings, you might want to consult a financial professional to see if Pacific Life is a good fit.
What are real-life customers saying about Pacific Life?
To provide a clearer picture of the customer experience with Pacific Life, we've sourced real-life takes from Reddit and Trustpilot. These forums offer a space for candid discussions and personal anecdotes, giving potential customers insight into what they might expect from Pacific Life's services. While Reddit features a range of more positive discussions about user experiences with Pacific Life, Trustpilot reviews paint a more negative picture. This balance of perspectives can help potential customers make a more informed decision about Pacific Life.
*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.
Pacific Life company details
Need to contact Pacific Life? Here are a few ways to do so:
- Customer service: 1-800-347-7787
- Mailing address: Pacific Life Insurance Company, P.O. Box 2030, Omaha, NE 68103-2030
State availability
Pacific Life offers life insurance policy options in 49 states, with the exception of New York. For details on specific policy types and product availability in your state, it's best to consult Pacific Life directly.
Pacific Life tools and benefits
Aside from life insurance, annuities and mutual funds, Pacific Life offers other perks for its policyholders, including:
- Insights blog: Pacific Life’s Insights blog provides a wealth of information regarding retirement planning, life insurance, financial literacy, estate planning and more.
- Online portal: Policyholders can make payments and access forms through Pacific Life’s online portal. Beneficiaries can also start the claims process online.
- Annuities: Pacific Life has annuities offering monthly income, empowering you to secure your financial future while also catering to other long-term goals and needs.
- Business succession planning: Pacific Life can help business owners lay out a plan for their business after they pass away.
- Financial tools and calculator: Policyholders have access to a financial resources page that can help them set savings goals, determine how much life insurance to purchase, learn about tax and estate planning and more.
Frequently asked questions about Pacific Life
Bankrate Scores
Our 2025 Bankrate Score considers variables our insurance editorial team determined impact policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s financial strength, product and rider offerings, availability, customer experience and corporate sustainability. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.
- Tier 1 (Ratings): To determine a life insurance company’s financial health and reliability, we assessed several industry-standard ratings, such as J.D. Power, AM Best, Comdex, the National Association of Insurance Commissioners (NAIC), and credit agencies like Moody’s, Fitch and S&P.
- Tier 2 (Coverage options): We assessed companies’ coverage options, availability and policy features to help policyholders find a provider that best meets their needs. We examined each company’s life insurance product lines, including term, whole and universal life options.
- Tier 3 (Accessibility & process): To assess the ease and transparency of applying for coverage, we reviewed the simplicity of obtaining a quote and insurers' underwriting processes — including eligibility requirements. We also considered insurers’ community engagement.
Tier scores are unweighted to show the company's true score in each category out of a possible five points.