Term life insurance

Pacific Life offers two types of term life insurance, which stay in place for a set period before coverage expires.

• PL Promise Term: Level premiums for 10,15, 20, 25 or 30 years, with a minimum death benefit of $50,000 and an accelerated death benefit rider included. You can convert some or all of your death benefits to a universal life policy at any point before age 70.
• Elite Term: Level premiums for 10, 20, or 30 years, with the ability to convert to a cash value life insurance plan up to 10 years after its start date. Available for a 30-year term up to age 50, for a 20-year term up to age 65 and a 10-year term up to age 75. Death benefits start at $750,000 and can go above $3 million.

Whole life insurance

Pacific Life doesn’t offer whole life insurance.

Universal life

A form of permanent life insurance, universal life policies come with flexible premiums and payouts and a cash value component that is tied to interest rates and the market.

Pacific Life offers the following universal life insurance products:

• Venture: A universal life policy with flexible premiums and an optional no-lapse guarantee rider that ensures coverage will continue even if the policy’s cash value drops to zero.
• PL Promise: A guaranteed universal life policy that can’t lapse as long as minimum premiums are paid up to age 90 (or up to 121 with higher premiums). Includes a terminal illness rider.

Variable universal life insurance

Pacific Life offers five variable universal life policies with varying levels of risk and growth potential, plus dozens of investment options to suit your goals.

Indexed universal life insurance

Pacific Life has several indexed universal life (IUL) policies, including a survivorship plan with long-term growth potential and Horizon ECV, which guarantees a death benefit with the potential for high early cash surrender value. Options include:

• Pacific Horizon IUL 2: With no-lapse protection up to age 90, this plan can focus on higher surrender values, long-term performance, or a mix of both.
• Pacific Horizon ECV IUL: A business-focused policy with a death benefit and guaranteed floor.
• Pacific Horizon survivorship IUL: Paying out after both covered individuals have died, this policy focuses on long-term growth potential.
• Pacific Trident IUL: With a guaranteed cash surrender value and no-lapse protection, this IUL can be used for both families and businesses.

Term life insurance riders

• Accelerated death benefit: Included in the Promise Term plan, this makes funds available if you’re diagnosed with a terminal illness..
• Waiver of premium: Allows you to stop paying premiums while keeping coverage if you become disabled prior to retirement.
• Child term rider: Provides up to $10,000 in coverage for children between 15 days and 18 years old.
• Convertibility period: Allows policyholders up to age 70 to convert all or part of their death benefits into a universal life policy without additional underwriting.

Universal life insurance riders

• No-lapse guarantee: Prevents your policy from lapsing for up to your entire lifetime. (Available with Venture UL plan.)
• Terminal illness benefit: Advances as much as 75% of your death benefit, up to $500,000, if you’re diagnosed with a terminal illness.
• Child term rider: Provides up to $10,000 in coverage for children between 15 days and 18 years old.
• Waiver of monthly deductions: If you become disabled before age 65, this rider waives monthly premiums while keeping your policy in force.
• Chronic illness care rider: Advance up to $3 million of your death benefit if you’re diagnosed with a condition that makes you unable to walk, feed, dress or bathe yourself.

While Pacific Life doesn’t have a mobile app or online chat feature, it does have a request form if you want to be contacted by email or phone.

Not even term life is available online, so make sure you find a professional you’re comfortable with. If you’re getting universal life, you’ll be working with this person over the long term to maintain the policy and your investments.

Customer service with Pacific Life is a mixed bag: The company landed well above the average on J.D. Power’s 2024 individual life insurance study, which surveys customers about price, product offerings, and company communication, but it earned an anemic B- from the Better Business Bureau, which cited a lack of response to customer complaints.

Pacific Life also has about four times more complaints than expected for an insurer of its size, according to the National Association of Insurance Commissioners’ complaint index.

We compared Pacific Life’s offerings to two other giants in the field.

Pacific Life vs. MassMutual

Pacific Life has much stronger universal life insurance policies, however, and only MassMutual offers whole life. (Neither makes term life available online.)

To purchase a policy, you’ll need to find a financial professional who works with the brand. (There is an online guide to connect you to a local insurance agent if you don’t have one.)

After discussing your options and choosing a policy, you’ll provide personal information, set up payments and name your beneficiaries.

You’ll likely be asked to take a medical exam, but it can usually be held at your home or office.

If you want a whole life policy or prefer the simplicity of buying a term life plan online, however, you should explore other options.

We also considered customer satisfaction ratings from J.D. Power, the Better Business Bureau and the National Association of Insurance Commissioners’ complaint index, as well as financial strength ratings from A.M. Best.

Life insurance rates may come from various sources, including the provider and state insurance departments.