Pacific Life
Pacific Life is a policyholder-owned insurer with 155+ years of history and $275 billion in assets. Its Pacific Income Provider SPIA offers optional 2%–4% annual inflation increases, and the company posts one of the lowest complaint rates in the industry.
Products Offered
Pacific Life offers 4 annuity product types. We quote only the first one, the single premium immediate annuity (SPIA); the rest are listed so you know what a Pacific Life agent may also pitch. See our types of annuities guide for the differences.
About Pacific Life
Pacific Life was founded in 1868 as Pacific Mutual Life of California and has been headquartered in Newport Beach since 1972. It operates under Pacific Mutual Holding Company — policyholder-owned, not publicly traded — and ranks #240 on the 2025 Fortune 500 with $275 billion in total assets.
In LIMRA's 2025 rankings Pacific Life was the #10 seller of individual annuities in the US at $16.3 billion. It also performs well on service: it ranked in the top ten of J.D. Power's 2025 US Individual Annuity Study and topped J.D. Power's 2026 advisor-facing distribution study.
Financial Strength Ratings
| Rating Agency | Rating | What It Means |
|---|---|---|
| AM Best | A+ (Superior) | Second-highest of AM Best's 16 ratings — affirmed December 2025 |
| S&P Global | AA- (Very Strong) | Fourth-highest of S&P's ratings — March 2026 |
| Moody's | Aa3 (Excellent) | Fourth-highest of Moody's 21 ratings — November 2025 |
| Fitch | AA- (Very Strong) | Fourth-highest Fitch rating — December 2025 |
Pacific Life Immediate Annuities (SPIA)
Pacific Life's SPIA is the Pacific Income Provider, a single-premium immediate fixed annuity with a $25,000 minimum (qualified or non-qualified money). Income can begin within one year, with single life, joint life, and period-certain options, and a minimum income payment of $250 per month.
Its notable option is inflation protection: buyers can elect automatic annual increases of 2%, 3%, or 4%, or a one-time 'future adjustment.' Only one optional feature can be selected per contract, and elections are irrevocable at issue — so the inflation decision needs to be made up front.
Key Strengths
- Policyholder-owned mutual holding structure
- One of the lowest NAIC complaint rates among annuity carriers
- Optional 2%–4% annual inflation increases on its SPIA
- Top-ten finisher in J.D. Power's 2025 annuity satisfaction study
Honest Considerations
Pacific Life's book is weighted toward deferred products — variable, indexed, and RILA annuities dominate its $16.3 billion in sales, with the SPIA a smaller niche of the lineup. Its AM Best A+ is the agency's second-highest grade, a notch below A++ carriers like New York Life and MassMutual, and its $25,000 SPIA minimum is higher than the $10,000 typical of those competitors.
Best For
Buyers who want strong ratings plus built-in inflation protection options, and don't mind a higher $25,000 entry point.
Frequently Asked Questions
Is Pacific Life a good annuity company?
Yes — Pacific Life carries strong ratings from all four agencies (AM Best A+, S&P AA-, Moody's Aa3, Fitch AA-), is policyholder-owned, posts one of the lowest complaint rates in the industry, and ranked in the top ten of J.D. Power's 2025 annuity satisfaction study.
What is the minimum for a Pacific Life immediate annuity?
The Pacific Income Provider SPIA requires a $25,000 minimum premium for both qualified and non-qualified money — higher than the $10,000 minimum at New York Life or MassMutual.
Does Pacific Life's SPIA offer inflation protection?
Yes — you can elect automatic annual payment increases of 2%, 3%, or 4% at purchase, or a one-time future adjustment. Only one optional feature is allowed per contract and the choice is irrevocable once issued.
What are Pacific Life immediate annuity rates right now?
Pacific Life is one of the A-rated carriers in our published SPIA rate tables. The table on this page shows its age-65 monthly figure per $100,000 next to the best figure among the carriers we publish. The tables are published in the first week of each month and carry their date, so you can see how current the figures are.
Pacific Life vs. All Carriers — Male Rates
Compare Pacific Life's men's figures against the other carriers we publish. Monthly income per $100,000 SPIA, single life with a 5-year period certain, from our rate tables as of October 1, 2026.
Male Monthly Income Rates
Updated| Carrier | Rating | Age 55 | Age 60 | Age 65 | Age 70 | Age 75 | Age 80 |
|---|---|---|---|---|---|---|---|
| New York Life | A++ | $616/mo | $649/mo | $693/mo | $767/mo | $893/mo | $1,046/mo |
| Nationwide | A+ | $577/mo | $609/mo | $669/mo | $751/mo | $873/mo | $1,041/mo |
| Western & Southern | A+ | $587/mo | $625/mo | $676/mo | $737/mo | $852/mo | $1,013/mo |
| Athene | A+ | $590/mo | $634/mo | $688/mo | $763/mo | $872/mo | $1,037/mo |
| Penn Mutual | A+ | $571/mo | $604/mo | $664/mo | $732/mo | $836/mo | $960/mo |
| Pacific Life | A+ | $539/mo | $578/mo | $629/mo | $706/mo | $830/mo | $998/mo |
| Mutual of Omaha | A+ | $530/mo | $545/mo | $601/mo | $677/mo | $795/mo | $942/mo |
| Lincoln Financial | A | $492/mo | $515/mo | $573/mo | $654/mo | $769/mo | $926/mo |
Source: LifeAnnuities.us quote surveys run for real clients. 54 base survey runs received and 52 used for pricing (July 14 to September 14, 2026), checked against 7 new survey runs (September 18 to 29, 2026): 1 of 8 published carriers repriced, 7 held. Joint figures at ages 65 and 70 are calibrated to a direct same-age joint quote. Single life or joint (100% to survivor), 5-year period certain, per $100,000. How we build these figures.
How this table was built. Ages 60, 65 and 80: read at a surveyed age in an earlier round, then repriced. Ages 55, 70 and 75: interpolated between surveyed ages in an earlier round, then repriced. Your exact figure depends on your age, state, premium and payout option: request a personalized quote.
Pacific Life vs. All Carriers — Female Rates
Compare Pacific Life's women's figures against the other carriers we publish. All women's figures are derived from each carrier's own ratio to its men's quote at surveyed ages, then repriced. They are not quoted directly.
Female Monthly Income Rates
Updated| Carrier | Rating | Age 55 | Age 60 | Age 65 | Age 70 | Age 75 | Age 80 |
|---|---|---|---|---|---|---|---|
| New York Life | A++ | $602/mo | $634/mo | $658/mo | $724/mo | $839/mo | $986/mo |
| Nationwide | A+ | $553/mo | $584/mo | $632/mo | $697/mo | $804/mo | $962/mo |
| Western & Southern | A+ | $581/mo | $618/mo | $644/mo | $706/mo | $810/mo | $966/mo |
| Athene | A+ | $564/mo | $605/mo | $648/mo | $705/mo | $800/mo | $956/mo |
| Penn Mutual | A+ | $563/mo | $595/mo | $631/mo | $698/mo | $794/mo | $914/mo |
| Pacific Life | A+ | $529/mo | $568/mo | $600/mo | $671/mo | $784/mo | $946/mo |
| Mutual of Omaha | A+ | $515/mo | $530/mo | $570/mo | $636/mo | $743/mo | $883/mo |
| Lincoln Financial | A | $472/mo | $493/mo | $541/mo | $607/mo | $709/mo | $856/mo |
Source: LifeAnnuities.us quote surveys run for real clients. 54 base survey runs received and 52 used for pricing (July 14 to September 14, 2026), checked against 7 new survey runs (September 18 to 29, 2026): 1 of 8 published carriers repriced, 7 held. Joint figures at ages 65 and 70 are calibrated to a direct same-age joint quote. Single life or joint (100% to survivor), 5-year period certain, per $100,000. How we build these figures.
How this table was built. All women's figures: derived from each carrier's own ratio to its men's quote at surveyed ages, then repriced. Your exact figure depends on your age, state, premium and payout option: request a personalized quote.
What a $100,000 Immediate Annuity Pays: Pacific Life vs. the Best in Our Tables
If you are weighing a Pacific Life income annuity, the number that matters is the monthly check. In our rate tables as of October 1, 2026, across the 8 A-rated carriers we publish, $100,000 buys a 65-year-old:
| Age 65, per $100,000 | Pacific Life | Best of the 8 carriers we publish |
|---|---|---|
| Man, single life | $629/mo | $693/mo |
| Woman, single life | $600/mo | $658/mo |
| Couple, 100% to survivor | $543/mo | $608/mo |
Single life (or joint, 100% survivor) with a 5-year period certain, income starting next month. The man's figure is read at a surveyed age in an earlier round, then repriced. The woman's figure is derived from each carrier's own ratio to its men's quote at surveyed ages, then repriced. The couple's figure is derived by ratio, then calibrated to a direct same-age joint quote (both spouses 66) from the latest round. Guarantees rest on the issuing insurer's claims-paying ability.
Source: LifeAnnuities.us quote surveys run for real clients. 54 base survey runs received and 52 used for pricing (July 14 to September 14, 2026), checked against 7 new survey runs (September 18 to 29, 2026): 1 of 8 published carriers repriced, 7 held. Joint figures at ages 65 and 70 are calibrated to a direct same-age joint quote. Single life or joint (100% to survivor), 5-year period certain, per $100,000. How we build these figures.
- See the payout for your premium: $100,000 · $250,000 · $500,000 · $1,000,000
- Rates at your age: 60 · 65 · 70 · 75 — and the month-over-month SPIA Payout Index
- Life only vs. cash refund vs. period certain: how each payout option changes the check
- Buying with IRA or 401(k) money? What changes (and what doesn't)
Should You Choose Pacific Life?
Pacific Life is a strong choice if you value financial stability — their A+ rating indicates superior financial strength. With 158 years in business, they have a proven track record of meeting their obligations to policyholders.
However, we always recommend comparing rates from multiple carriers. A carrier with a slightly lower brand profile may offer a meaningfully better rate for your specific age and situation. The rate tables above make it easy to compare Pacific Life against 7 other A-rated carriers.
View all 8 carriers we track, or compare current rates side by side.
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