Life - Life Insurance
in 1868, Pacific Life provides life and health insurance products,
individual annuities and group employee benefits, and offers
to individuals, businesses and pension plans a variety of
investment products and services. Over the past five years,
Pacific Life has grown from the 23rd to the 14th largest life
insurance company in the nation. The Pacific Life family of
companies manages more than $335 billion in assets, making
it one of the largest financial institutions in America, and
currently counts 67 of the 100 largest U.S. companies as clients.
Pacific Life is rated A++ (Superior) by A.M. Best, AA+ (Very
Strong) by Standard & Poor's, AA+ (Very Strong) by Fitch,
and Aa3 (excellent) by Moody's for financial strength. Pacific
Life is a member of IMSA (Insurance Marketplace Standards
Association), whose membership promotes ethical market conduct
for individual life insurance and annuities.
Pacific Life - Life Insurance Planning
Life Insurance Planning - the process of protecting your family
from the premature death of you and/or your spouse. Unfortunately,
it's probably the least favorite thing to plan for. And, as
a result, adequate planning is often put off until it's too
it may sound simple, there are many things to consider. There
are many ways to protect your family with life insurance.
So, consulting with a Pacific Life - Life Insurance Professional
can be vital!
Life insurance planning is not only for those who support
a family. There are several reasons for thorough life insurance
planning. For example, have you recently purchased a new home?
Have you recently been married? Have you made career changes?
Other key purposes of life insurance include retirement and
Many people don't realize that even though life insurance
proceeds are paid income tax-free to the beneficiary, there's
a good chance the proceeds will be included in the value of
your estate which may be taxed.
People often make the mistake of assuming their employer-provided
life insurance is adequate. However, employer-provided life
insurance is typically only equal to one year's salary...far
from enough for the family provider to protect his/her family
adequately, and not enough for the average single person to
repay outstanding debts - often leaving parents and siblings
dealing with such bills
Pacific Life - Life Insurance Products
are two primary categories of life insurance: term and permanent.
However, there are several different types within each category.
Listed below are only the most common types. Consult your
Life Insurance Professional for a more detailed description
of the various types of life insurance and how they may apply
to your specific situation
Pacific Life - Term Insurance
Life - Life insurance under which the benefit is payable only
if the insured dies during a specified period. Listed below
are various types of term insurance.
Level Term - a fixed amount of coverage with premiums
that are fixed over a certain period of time, usually in 10-year
Increasing/Decreasing Term - amount of coverage
increases or decreases throughout the term, premiums remain
Renewable Term - includes a renewal provision that gives
the policyowner the right to renew the insurance coverage
at the end of the specified term without submitting evidence
Convertible Term - Gives the policyholder the right to
convert the term policy to a permanent policy.
Group Term - insurance purchased typically by an employer
or professional association that is intended to cover several
people, usually resulting in reduced premiums.
Life insurance that provides coverage throughout the insured's
lifetime and may include an element that builds a cash value.
Traditional Whole Life - remains in force during
the insured's entire lifetime, provided premiums are paid
as specified in the policy. Whole life insurance may also
include an element for accumulating growth (called the cash
Universal life insurance - characterized by its flexible
premiums, flexible face amounts, and unbundled pricing factors.
Variable life insurance - a form of whole life insurance
under which the death benefit and the cash value of the policy
fluctuate according to the investment performance of a separate
account fund. Most variable life insurance policies guarantee
that the death benefit will not fall below a specified minimum.
Variable universal life insurance - a form of whole life
insurance that combines the premium and death benefit flexibility
of universal life insurance with the investment flexibility
and risk of variable life insurance. Also called flexible
premium variable life insurance and universal life II. See
also investment-sensitive insurance.
Last survivor life insurance (also known as "Survivor Life")
- whole life insurance that covers two persons and provides
for payment of the proceeds when both insureds have died.
It is generally designed to pay estate taxes. Also known as
second-to-die life insurance.
Single-premium whole life insurance - whole life insurance
purchased with a single, lump-sum premium.