About Pacific Life Annuities
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Avoid investing with this company. My father, decades ago, invested with this company in annuities. He told me multiple times in the last years of his life he had two policies with Pacific Life. The last year of his life was so difficult for me, caring for him as an invalid. We were lied to by the Veterans Administration regarding the services he was entitled to. Upon his passing, I contacted Pacific Life. They again and again denied there were two policies, stating there was only one. I finally gave up.
Close to a year after my father's death, I received an RMD notice from Pacific Life on an annuity policy of his. Thankfully, I still had the change of address for my father to my address. Yes, there was second policy that Pacific Life denied having. This company sent the proceeds from the policy but I NEVER received any kind of admittance of malpractice or apology from Pacific Life. I don't trust this company and you shouldn't either. This company doesn't deserve one star.
My husband passed away 12/20. Almost 3 months later I am unable to get necessary forms from Pacific Life to continue survivors benefits. They say they have mailed twice address verified. They do not email these forms and they say they have faxed forms. None have been received. They offer me no help. I am lost as to what my next step should be. I have called 7 times. It is now 3 months since my husband's death with no resolution.
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My former employer, NHBB, contracted with Pacific Life to pay retirement benefits to retirees. Each time I make a change of account for the deposit, they take a 6.99% withdrawal for CT Income Tax. I have never authorized either a Federal or State tax withholding. I called them today (11-3-2020) to complain about a $78.28 shortage in my most recent deposit and was told that it was for CT Income Tax. I stated that I wanted the money deposited in my account. After waiting on hold for over 10 minutes, the employee said that it would show on my 1099 and I could get it back on my tax return. I believe that they illegally withheld these funds without my approval.
A Stanford Pension Annuity was transferred to Pac Life from Vanguard. It was not requested by me. I have been trying to get the monthly payment moved to a different account for two months. First I called and was directed to the wrong form which I submitted. Then I called and the correct form was mailed to the wrong address. I submitted the correct form but was not told that I then needed to submit another form. Do not deal with this company. Their communication and customer service is terrible.
I got an annuity/pension transfer letter from Pacific Life with instructions on how to create an account. You follow the instructions and keep getting rejection/error messages when trying to create an account. After 6 attempts I give up and call the 800 number. The operator can't help. I keep trying to log in on the website and after 5 more tries the site says call the 800 number. I've been on hold for 20 minutes... finally got an operator... She says she sent me a reset link. It has been 10 minutes and I'm still waiting to receive it. The people on the phone are nice, when you finally get connected, but they admit the website is new to them and they don't have all the tools to correct errors, etc. I'm very upset that my pension is now in the hands of nitwits.
They will do everything in their power to not give you a direct answer. The poor customer service is an act so they can avoid paying people the money they owe them. Complete crooks. Avoid at all cost!!
I was married to my ex for 33 years, most of it in financial hardship. He received a benefit (and I have it in writing) from the company he worked for documenting that they were selling and that his benefit was being used to buy an annuity with Pacific Life. A year after I divorced him, he passed away. Based on that one year, and not the fact that we were married during this benefit transfer, and the fact that our family went without, they kept it!! My ex has a daughter and Pacific Life refused to acknowledge her. I don’t care if they keep the money they made off of his benefit for over 20 years, but I think they are thieves for keeping his earned benefit from his family. There are lots of insurance companies, so find a company that is trustworthy!!!
Pacific Life Annuities is willing to help but very often when I have questions, they could not help me find the solutions. It’s always a hassle for me to figure out the problems, but over-all it is okay.
We are old and did not completely understand the annuity. They took advantage of us. We knew that we were locked in for seven years, however they said nothing about the ongoing increase of fees. When we called to question this they were rude at best. So we are stuck with a product we would not have chosen had we been told the truth.
Pacific Life Annuities is amazing. It’s everything I wanted and more. Their customer service were very helpful in setting me up with a program that best suited what I was looking for, they sympathized with my family's loss and helped me the best they could. The withdrawal was very easy but with only one difficulty. The staff helped me figure it out and I never had an issue after it. I also had loads of issues with payout but the staff and customer services were so helpful in showing me how I can payout online, over the phone and via my account. Funding was a little iffy for me at first but then once I figure out how funding works I realized I selected the best choice for my annuity. Thank you customer service crew.
Pacific Life Annuities author review by Jim Blankenship
Pacific Life is a Fortune 500 company and the 10th largest seller of variable annuities. The company's 145-year history began in California in 1868. The first policy was issued to the founder of Stanford University.
Corporate responsibility: Pacific Life Foundation has donated more than $84 million to charitable causes in the past 30 years. In addition, the employee volunteer program encourages involvement in over 100 organizations.
Tailored information: Pacific Life offers a distinct portal for information focused on needs and issues specific to women.
Video library: The comprehensive Pacific Life video library can help consumers better understand their options regarding annuities.
Find an Advisor: Annuities are sold through a network of over 850 financial planning firms, securities broker-dealers, and banks. Consumers can locate an advisor online using their zip code.
Contact options: Pacific Life annuity holders can contact the company via online web form or by using a toll-free number dedicated to annuity products.
Pacific Life Annuities Company Information
- Company Name:
- Pacific Life Annuities
- 700 Newport Center Drive
- Newport Beach
- Postal Code:
- United States
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