Pacific Life Annuity Review: All Products Rated & Compared (2026)

For retirees evaluating where to place a meaningful portion of their savings, the strength of the issuer matters as much as the product. Annuity guarantees are backed by the claims-paying ability of the insurer, not by the FDIC — so a carrier's ratings are central to the decision. Here is a measured look at Pacific Life's financial strength, its full annuity lineup, and who each product may suit.

Pacific Life at a glance

Founded in 1868, Pacific Life has roughly 160 years of operating history and is structured under a mutual holding company — meaning it answers to policyholders rather than public shareholders, which can support a long-term, conservative approach.

• AM Best: A+ (Superior)
• S&P Global: AA- (Very Strong)
• Fitch: AA-
• Moody's: Aa3
• Comdex score: 95 (out of 100)
• Total assets: $175+ billion

These ratings place Pacific Life firmly in the top tier of U.S. annuity carriers. Ratings can change over time, so confirm current figures before purchasing.

The Pacific Life annuity lineup

Pacific Life offers products across all four major annuity categories. Specific product names and availability change, so treat the following as the current product framework rather than a fixed list.

Fixed annuities (MYGA)

Multi-year guaranteed annuities credit a set interest rate over a chosen term, similar in concept to a bank CD but tax-deferred. These suit conservative savers who want a predictable, fixed return and full principal protection.

• May fit: Conservative savers seeking a fixed, tax-deferred rate
• Trade-off: Lower growth potential than market-linked options

Fixed indexed annuities (FIA)

Pacific Life's fixed indexed annuities (such as the Pacific Index series) link interest crediting to a market index while protecting principal from market losses. Growth is capped or participation-limited in exchange for that downside protection.

• May fit: Retirees who want some market-linked upside with principal protection
• Trade-off: Caps and participation rates limit gains; surrender charges apply

Registered index-linked annuities (RILA)

RILAs (structured or "buffer" annuities) offer higher growth potential than FIAs by accepting a defined amount of market risk in exchange for a buffer against losses. They are registered products suited to those comfortable with some downside exposure.

• May fit: Growth-oriented retirees who can accept partial market risk
• Trade-off: You can still lose money beyond the buffer

Variable annuities (VA)

Pacific Life is well known for variable annuities, which invest in market subaccounts and can be paired with optional living-benefit riders for guaranteed income. They offer the most growth potential and the most complexity and fees.

• May fit: Investors seeking market growth plus optional income guarantees
• Trade-off: Higher fees; subaccount values fluctuate with the market

Income annuities (SPIA and DIA)

Single premium immediate annuities (SPIAs) convert a lump sum into income that can begin right away, while deferred income annuities (DIAs) start income at a future date. Both are designed to provide a predictable income stream that can last for life.

• May fit: Retirees who want to turn savings into reliable lifetime income
• Trade-off: Generally gives up liquidity and access to the principal

Pacific Life annuity pros and cons

Potential advantages

• Among the highest financial-strength ratings in the industry, with a Comdex of 95
• A full product range, so most retirement goals can be matched to a product
• Long operating history and a policyholder-oriented mutual structure
• Strong reputation in variable annuities and living-benefit riders

Potential drawbacks

• Surrender charges apply during the early years of most contracts
• Variable and indexed products can carry fees and complexity that require careful review
• Caps and participation rates on indexed products limit upside
• Products and features are distributed through advisors, so terms vary by contract

Is a Pacific Life annuity safe?

In the sense that matters most to retirees — the issuer's ability to pay — Pacific Life is considered very financially strong, supported by top-tier ratings from all four major agencies and substantial assets. Keep in mind that annuity guarantees rest on the insurer's claims-paying ability and are not federally insured. State guaranty associations provide a limited backstop up to state-specific limits. For large premiums, some retirees choose to stay within those coverage limits or diversify across more than one highly rated carrier.

Who Pacific Life may be a good fit for

Pacific Life tends to suit retirees and pre-retirees who are placing a meaningful premium — often $100,000 or more — and who prioritize issuer strength alongside product flexibility. The growing availability of fee-based and advisory annuity options also makes it relevant for those working with a fiduciary or fee-only advisor.

It may be less ideal for someone who wants the single lowest-cost product or full liquidity, since annuities are long-term contracts with surrender periods.

The bottom line

Pacific Life is a top-tier annuity carrier by every measure that counts for safety — A+ from AM Best, AA- from S&P and Fitch, a Comdex of 95, and $175+ billion in assets — backed by roughly 160 years of history. Its lineup spans fixed, fixed indexed, structured, variable, and income annuities, so the more important question is not whether Pacific Life is strong, but which of its products fits your specific retirement goal. A professional review can help match the right contract to your situation.

This article is educational and is not investment, tax, or insurance advice. Annuity guarantees are subject to the claims-paying ability of the issuing insurer and are not insured by the FDIC or any federal agency. Product features, rates, riders, and availability vary by state and change over time. Ratings are current as of publication and may change. Consult a licensed financial professional before purchasing any annuity.