More on Life Insurance
More on Life Insurance
Learn the differences between the life insurance options offered by Protective and Pac Life.
Published July 9, 2018
TABLE OF CONTENTS
Protective and Pacific Life are two of the largest life insurance companies on the market, with well over 1,000,000 policyholders nationwide. Both have been given exceptional consumer grades and offer competitive term life insurance rates.
So how should one go about choosing between the two? We recommend starting with a cost and rider comparison, as well as a consumer ratings comparison to accurately gage which is best for you.
If you’re looking for the most affordable life insurance option, here are the average monthly premiums for Pacific Life and Protective term life insurance policies.
Average premium cost based on $500,000/20-year term life insurance policies for healthy, nonsmoking applicants in California
Life insurance companies determine your premiums largely on your recent health as well as your health history. Depending on the company, some are more lenient than others.
|Cancer Survivor/Family History||Excellent||Good|
|Recent Weight Loss||Good||Good|
|Former Tobacco Use||Fair||Fair|
|High Blood Pressure||Fair||Good|
Learn more about the best life insurance companies for every scenario.
Riders allow you to customize your life insurance policy so that it fits your specific needs. But not every carrier offers every rider. Here are the riders offered by Protective and Pacific Life.
|Child Protection Rider||X||X|
|Accelerated Death Benefit Rider||X||X|
|Accidental Death Benefit Rider||X|
|Disability Waiver of Premium Rider||X||X|
Learn more about life insurance riders.
Ratings agencies often feature different rating criteria, so it’s important to understand how each one functions. A.M. Best focuses on the financial strength of the company in, while J.D. Power rankings are based on customer service surveys. The Better Business Bureau (BBB) gives letter grades based on consumer feedback.
|J.D. Power||N/A||3 out of 5|
Find more head-to-head comparisons between top-rated life insurance companies to help you make the right decision.
So which life insurance company is right for you? Do you give the edge to Protective or Pacific Life? Well, it often dependant on the individual and what is most important to them. Be it cost, riders, health considerations, or customer service, all of these are important to consider before you buy.
Ready to begin your search and start looking for the best policies that Protective, Pacific Life, and other top life insurance companies have to offer? Try out our coverage calculator to find plans and companies tailored to your needs.
Pat Howard is a homeowners insurance editor at Policygenius in New York City. He has written extensively about home insurance cost, coverage, and companies since 2018, and his insights have been featured on Investopedia, Lifehacker, MSN, Zola, HerMoney, and Property Casualty 360.