In 1868 Pacific Mutual Life Insurance Company of California entered the insurance market. A few years later the business relocated from Sacramento’s house to San Francisco.
Pacific Mutual Life Insurance Company has its headquarters today in Newport Beach, California. The charitable arm of the business, the Pacific Life Foundation, emphasizes on investments in fields relevant to its staff.
Has a wide range of policies: term, whole, universal, indexed universal, and variable universal
Various policies have a number of rider selections to customize your plan
Term policies can be converted to permanent life policies without a medical exam
Cannot get online life insurance quotes
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Some policies have age restrictions depending on the length of the policy
Key Takeaways
- Pacific Life has choices for both universal and term life insurance.
- Most plans include a 90-year age limit for policy purchases.
- It provides estate and legacy planning, has many riders accessible, and lets you pay your premium monthly, quarterly, semi-annally, or annually.
Term, whole, universal, variable universal, and indexed universal policies abound from Pacific Life. The website can be useful by displaying just the policies that are accessible in your state then provide details regarding those policies. Except for the PL Promise Term life policy, you will have to deal with a life insurance agent for all policies if you wish a quote or to buy a policy.
If you want life insurance now but wish to get a permanent policy later on, the company’s term policies can be converted to permanent plans without a medical exam, so worth investigating such products.
Policies: Pacific Life carries more than a dozen life insurance products. The company offers universal life insurance plans as well as term life and whole life policies. Its universal policies consist in two survivorship policies, variable universal life (VUL), and indexed universal life (IUL).
Coverage Limits: Pacific Life offers little online information on coverage limits for both universal life insurance and whole life. Still, the Pacific Elite Term policy provides death benefits starting at $750,000 and, depending on underwriting, can cover more over $3 million. Coverage of the PL Promise term start at $50,000.
Plan will affect the coverage amount. You should find out from your insurance agent which policies provide the necessary coverage level.
Age limits abound in several of Pacific Life’s policies. Policies, for instance, have some age restrictions depending on their term duration. For the 10-year level premium period, the PL Promise Term plan has an 18–80 issue age range; for the 30-year level premium period, it has an 18–55 issue age range. Other durations of plans have different issue ages.
Your life insurance quote is not determined by any one quality. Insurers of individual life insurance policies calculate prices depending on various personal criteria, including your age, gender, location, pre-existing conditions, and general state of health.
Diseases include cancer, diabetes, or heart disease could exclude you for life insurance or classify you as high-risk and call for you to pay a higher rate. By asking for your medical records and mandating a medical exam, insurance companies frequently check for these kinds of illnesses.
Additionally putting you in a high-risk class are bad health practices include heavy drinking, smoking, or using illicit drugs. Likewise, your life insurance rates may be impacted by risky interests as mountain climbing, skiing and snowboarding, or skydiving.
For non-smoking, average health individuals falling in the standard-plus risk class, the following sample rates apply: These rates do not fairly represent the cost of an insurance that you might pay. Ask a financial expert selling Pacific Life policies for a more realistic estimate.
Without completing the quote process, it is difficult to estimate how much any firm would charge for life insurance as applicant to applicant variances greatly.
More information on what to anticipate to pay for term life policies may be found using our guide to Life Insurance Quotes. Our Cheapest Life Insurance Companies page may assist you locate reasonably priced solutions if you require further information on budgeting for life insurance.
Based on your ZIP code, Pacific Life provides web tools to identify and select an agent in your neighborhood. Only the PL Promise Term term life insurance policies now include online applications.
Most Pacific Life policies call for a medical checkup. A Pacific Life agent will weigh your age and risk factors, the income your family or beneficiaries would need to replace your death, your assets and debts, and your financial goals to ascertain coverage needs.
Not every state has every Pacific Life product. Use the drop-down menus on Pacific Life’s product pages for choices in your state; alternatively, call the Pacific Life insurance office for your area. There are some policy manuals online.
The top tier term policy from Pacific Life provides coverage beginning at $750,000.
One disadvantage is that policyholders cannot benefit from bundling discounts like those offered by some other insurance firms as the insurer does not provide other kinds of insurance, such home or auto insurance.
