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About Pacific Life
Pacific Life is a long-established mutual insurance company founded in 1868, headquartered in Newport Beach, California. Known for strength in variable annuities, registered index-linked annuities (RILAs), and competitive income riders, Pacific Life serves retirement savers through both commission and fee-based distribution channels. The company carries excellent financial strength ratings and operates for the benefit of its policyholders.
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How we scored them
Income Options84/100
Financial Strength94/100
Fees & Costs80/100
Flexibility86/100
Customer Service81/100
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The tradeoffs
What works
- A+ AM Best and AA- S&P ratings reflect strong financial stability
- Pioneering work in RILAs and index-based variable annuities
- Competitive income riders with meaningful rollup rates (5-6%)
- Multi-channel distribution (commission, advisory, platform-exclusive)
- No-load options available for cost-conscious advisors
What to watch
- Limited availability of MYGA products outside New York
- Variable annuity fees can be higher when riders are stacked
- Some products are channel-exclusive (Schwab, Fidelity) limiting access
- Fixed indexed annuity lineup is more limited compared to specialists
- New York-only restrictions on some products
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What you could receive
Estimated guaranteed lifetime income based on a single premium payment. Actual rates may vary.
| Investment | Age | Monthly | Annual | Guarantee |
|---|---|---|---|---|
| $100,000 | 60 | $480 | $5,760 | Lifetime |
| $250,000 | 65 | $1,320 | $15,840 | Lifetime |
| $500,000 | 65 | $2,640 | $31,680 | Lifetime |
| $1,000,000 | 70 | $6,300 | $75,600 | Lifetime |
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Fee schedule
| Fee type | Amount | Description |
|---|---|---|
| Base Contract Fee (Variable Products) | 0.45% - 0.85% | Mortality & expense charge plus administration fee; varies by product type and channel |
| Income Rider Fee | 0.90% - 1.55% | Annual fee for optional guaranteed lifetime withdrawal benefit; varies by product and whether single or joint life |
| Surrender Charge | Varies by product | Declining schedule on most products; Pacific Advisory and Odyssey Advantage have zero surrender charges |
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Early withdrawal penalties
Charges apply to amounts above the annual free withdrawal (typically 10%).
| Yr 1 | Yr 2 | Yr 3 | Yr 4 | Yr 5 | Yr 6 | Yr 7 | Yr 8 | Yr 9 | Yr 10 |
|---|---|---|---|---|---|---|---|---|---|
| 8% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% | 0% |
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Best fit for these buyers
Fee-based advisors seeking transparent, no-load variable annuity options
Schwab clients who want tax-deferred accumulation with no surrender charges
Conservative savers who prefer Pacific Life's mutual company structure and A+ ratings
Ages 50-75 combining accumulation and optional lifetime income protection
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Frequently asked questions
Is Pacific Life a good annuity company?
Pacific Life earns an average rating of 4.0/5 across the 12 products we've reviewed, with an AM Best rating of A+ and S&P rating of AA-. Their financial strength is rated "Excellent" with $150+ Billion in total assets. Pacific Life is particularly strong in financial strength.
How much income can I get from a Pacific Life annuity?
Income depends on your investment amount and age. For example, a $500,000 investment at age 65 could generate approximately $31,680 per year in guaranteed lifetime income. A $250,000 investment at the same age could generate about $15,840 per year.
What are the fees for Pacific Life annuities?
Pacific Life charges Base Contract Fee (Variable Products): 0.45% - 0.85%, Income Rider Fee: 0.90% - 1.55%, Surrender Charge: Varies by product. Fee structures vary by product — review the specific product details before purchasing.
What is the surrender period for Pacific Life annuities?
Pacific Life annuities typically have a 10-year surrender period. Charges start at 8% in year one and decline to 0% in the final year. Most products allow 10% annual free withdrawals without penalty.