Pacific Life & Annuity Co.

Pacific Life & Annuity Co. is a California-based company that offers a multitude of insurance, annuity and investment products. The company provides its services to individuals, businesses and pension plans. In fact, Pacific Life & Annuity's business clients make up more than half of the 100 largest U.S. companies.

The life insurance services offered by Pacific Life & Annuity were recognized by Worth magazine in its annual "A List" feature, which stated that the company has "a history of extending improvements retroactively into existing policies -- a sign that it cares." Offering insurance and investment products, the company often adds new products or enhances existing ones. Services offered include mutual funds, annuities, a 529 college savings plan and life insurance. There are about 13 different choices for life insurance policies falling under the categories of term life, universal life, variable universal life, and equity indexed universal life.

History Of Pacific Life

Pacific Life Insurance Co. issued its first policy to California Senator Leland Stanford in 1868. Since then, Pacific Life has grown steadily. In 1885, the company expanded from selling just life insurance into selling accident insurance as well. After a 48-second earthquake devastated San Francisco in 1906, Pacific Life moved its office to Los Angeles, which was then moved to Newport Beach in the 1970s. In 1968, then California governor, Ronald Reagan spoke at the company's centennial dinner. After merging and acquiring several companies over the years, Pacific Life completed its conversion to a mutual holding company in 1997. Today, the company claims total assets that value over $100 million.

Insurance Ratings

Pacific Life & Annuity Co. maintains high ratings as far as its ability to fulfill financial obligations. A.M. Best and Moody's give Pacific Life & Annuity "superior" and "excellent" ratings, while Fitch's and Standard and Poor's give the company ratings of "very strong." Pacific Life is also a member of IMSA, the Insurance Marketplace Standards Association, which promotes a dedication to high ethical standards in the industry.