A closer look at Pacific Life life insurance
Who is Pacific Life best for?
Pacific Life is our top recommendation for people with type 2 diabetes, thanks to its flexible guidelines and affordable rate options.
Pacific Like is also our top pick for guaranteed universal life insurance. Its policy is one of the most affordable, convenient permanent life insurance options, especially for smokers.
And Pacific Life’s rates stay competitive across age groups, making it an excellent choice for seniors over 60. Pacific Life’s lower policy minimum ($50,000 for term, compared to $100,000 at most companies) and flexible approach to covering people with certain health concerns can help you find coverage that fits throughout your life.
What makes Pacific Life unique?
Pacific Life stands out for its top customer satisfaction rating, competitive rates, and more accommodating guidelines for certain health conditions. People with diabetes, larger builds, or sleep apnea may have an easier time finding affordable coverage with Pacific Life than other insurers. Pacific Life also offers lower minimum coverage amounts and keeps rates competitive as people reach their 60s, which may help explain why it has such a strong record for customer satisfaction.
Who should consider a different life insurance company?
Pacific Life is not available in New York State, so New Yorkers will have to seek coverage elsewhere. It also doesn’t generally offer the most favorable rates to people who are active duty military, people who have been through bankruptcy, or people with a history of alcohol abuse.
Pacific Life life insurance rates
The chart below shows average monthly premium prices for a 20-year term life insurance policy with $500,000 in coverage for non-smokers in a Preferred health classification; quotes are based on the Policygenius Life Insurance Price Index methodology.
Pacific Life average
Pacific Life history, reputation, and social responsibility
Pacific Life was founded in 1868 as The Pacific Mutual Life Insurance Company of California by founders who saw promise in the frontier.  The company held steady through early economic crisis in the 1870s, becoming the oldest life insurance company on the West Coast when California Mutual failed. Pacific Life acquired Alliance Mutual, survived economic recessions and earthquakes, and ultimately grew to become a Fortune 500 company with over 4,000 employees and $1.2 trillion of life insurance in force.  Pacific Life is a mutual holding company that has no publicly traded stock.
In April 2021, Pacific Life issued a new sustainability framework to make an impact on Environment, Social, and Governance (ESG) goals. The company dedicated $800 million ESG bond issuance to go to projects in renewable energy, green building, and affordable housing. According to reports, all proceeds from the ESG bond issuance have been invested, so the company is following through on its commitment to making a positive ESG impact.