What is Pacific Life Life Insurance?
Pacific Life is a well-established financial services company that has been helping its clients manage their financial lives for more than 150 years. One of the core products offered by Pacific Life is life insurance, which is commonly used to help protect your family from any financial effects of your and/or your spouse's death.
Pacific Life offers a wide range of life insurance options , including term life insurance, universal life insurance, and indexed universal life insurance. These options provide clients with flexibility in choosing a policy that meets their unique needs and financial goals.
Term life insurance is a popular option that provides coverage for a specified period of time, typically ten to thirty years. It offers lower premiums than permanent life insurance options and can be a good choice for those who want coverage during a specific time period, such as while raising children or paying off a mortgage.
Universal life insurance is a type of permanent life insurance that offers flexibility in premiums, death benefits, and cash values. It allows clients to adjust their premiums and death benefits as their needs change over time.
Indexed universal life insurance is a type of universal life insurance that combines elements of both term and permanent life insurance. It offers the potential for higher returns through a choice of indexes while also providing a death benefit to the policyholder's beneficiaries.
Overall, Pacific Life is a reputable and reliable company that offers a range of life insurance options to help clients protect their loved ones and manage their financial lives.
Frequently Asked Questions about pacific life life insurance
Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period.
Pacific Life's expertise and innovative solutions for retirement and life insurance protection have helped generations of families and businesses continue filling their tomorrows with moments that matter.
With Pacific Life's strength, stability, and more than 150 years of expertise in retirement and life insurance solutions, you can have the confidence to enjoy a life well-lived and trust that Pacific Life will protect your tomorrow.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account consumer experience, complaint data from the National Association of Insurance Commissioners and financial strength ratings. Based on these ratings, Pacific Life is among NerdWallet's Best Life Insurance Companies.
Insurance products mean any product provided by an insurer in its insurance whereby such insurer or undertakes to indemnify the insured person as to loss from certain perils called risks which are mentioned in the insurance contract or to pay a specified amount with or without a benefit (depending whether it is ...
Why is life insurance important? Buying life insurance protects your spouse and children from the potentially devastating financial losses that could result if something happened to you. It provides financial security, helps to pay off debts, helps to pay living expenses, and helps to pay any medical or final expenses.
Pacific Life invests in carefully selected securities, mortgage loans, real estate equity, and private equity.
Financial Summary ¹
| Dollars in Millions | June 30, 2023 | December 31, 2022 |
|---|
| Company Assets | 207,363 | 199,324 |
| Policyholder & Other Liabilities | 199,824 | 192,596 |
| Equity ² | 14,475 | 14,124 |
| Adj. Operating Revenues ³ | 6,813 | 13,500 |
Life insurance covers the insured person's life. So if you pass away while your policy is active, your beneficiaries can use the payout to cover whatever they choose - medical bills, funeral costs, education, loans, day-to-day costs, and even savings.
Pacific Life Insurance Company
| Rating (Rating Category): | A+ (Superior) |
|---|
| Outlook (or Implication): | Stable |
| Action: | Affirmed |
| Effective Date: | July 21, 2023 |
| Initial Rating Date: | June 30, 1928 |
Product summary – Description of features
The product summary is a simple document that describes the features, benefits, fees and charges of the insurance plan you are buying.
As above in question, Insurance are example of Product Line.
Health Insurance, Life insurance, Medical Insurance, Accidental Insurance etc.
Purpose of insurance
Its aim is to reduce financial uncertainty and make accidental loss manageable. It does this substituting payment of a small, known fee - an insurance premium - to a professional insurer in exchange for the assumption of the risk a large loss, and a promise to pay in the event of such a loss.
Insurance is a way to manage your risk. When you buy insurance, you purchase protection against unexpected financial losses. The insurance company pays you or someone you choose if something bad happens to you. If you have no insurance and an accident happens, you may be responsible for all related costs.
A Supplement for Retirement Goals
Often, life insurance policies are considered to supplement your retirement goals. With some life insurance policies, you can get a regular stream of income every month. Thus, these policies help you manage your monthly expenses even after retirement.
Ranking of the 20 largest insurance companies according to Forbes
| Rank | Company | Country |
|---|
| 1 | UnitedHealth Group | United States |
| 2 | Ping An Insurance Group | China |
| 3 | Allianz | Germany |
| 4 | AXA Group | France |
