Pacific Life Insurance Company
Pacific Life Insurance Company began providing life insurance, annuities, pension plans, and other investment products to businesses and individuals, issuing its first policy to the founder of Stanford University . In 1876, Pacific Mutual bought Alliance Mutual Life of Kansas. The insurer offered accident insurance as of 1885, and was operating in 40 states by 1905. The following year, Pacific Mutual merged with Conservative Life in Los Angeles . Pacific Mutual worked with the California Insurance Commissioner to meet depression-era claims, establishing the Group Insurance division by 1948. Pacific Mutual was restructured in 1959 to be a policyholder-owned mutual company.
Pacific Life Insurance
In 1970, Pacific Life expanded its financial services through Mortgage Investing Service and Pacific Investment Management Company (PIMCO), which would merge 24 years later with Thomson Advisory Group L.P. to form PIMCO Advisors L.P.. The insurer's first variable universal life insurance policy was introduced in 1988, and its group insurance division was consolidated into the subsidiary PM Group Life Insurance Company. Pacific acquired the assets of First Capital Life Insurance Company in 1992, adding variable annuities to its Annuities Division the next year. In 1997, Pacific Mutual became a mutual holding company and renamed itself Pacific Life. Pacific Life attained NJ's College Savings Bank in 2002, positioning the company in the 529 College Savings Plan market. Three years afterward, Pacific Life's subsidiary, Aviation Capital Group, acquired Boullioun Aviation Services.
Pacific Life Insurance
Pacific Life Corporation is comprised of three main entities - Pacific Life Insurance Company (Pacific Life), Pacific Mutual Holding Company (Pacific Mutual), and Pacific LifeCorp. Pacific Life is also a member of the Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for life insurance industry.
Pacific Life
Pacific Life offers many different kinds of life insurance and savings products, including annuities, college savings plans, mutual funds, and business services. Its variable products are distributed through Pacific Select Distributors, Inc. and include Variable Universal Life Insurance Products like Pacific Select Exec and Pacific Select Estate Preserver. Pacific's Equity Indexed Universal Life Insurance Product is the Pacific Indexed Accumulator. The Versa-Flex and Pacific Estate Preserver are part of the company's Universal Life Insurance product line, while Term Life Insurance products include the Pacific-10, Pacific-20, Pacific-ART, the One Year Term, and the Last Survivor One Year Term.