by John Darer CLU ChFC MSSC RSP CLTC
The upgrade of the financial stability ratings of Pacific Life Company from A+ to AA- Standard & Poors is welcome news at a time of world uncertainty.
Structured settlement annuities, such as those issued by Pacific Life Insurance Company provide stable core income that people can depend on for a fixed period of time or for an income that cannot be outlived. Structured settlements are a customized series of payments negotiated as part of the consideration for settlement by parties in litigation.
Pacific Life has been in the insurance business for a long time and is one of 5 life insurance companies writing structured settlement annuities that have been in business since the 1800s! It's possible that your great grand parents or great great grandparents owned Pacific Life products (or Pacific Mutual as it was known back then). Visit The Structured Settlement Annuity Museum that displays among its exhibits, a 1900's era Rehberger metal ink well fashioned into the Pacific Mutual Life building in Chicago and the photos of the original 1868 logo.
Pacific Life Insurance Company, which is rated A+ by A.M. Best, issues structured settlement annuities in all states except New York, where annuities are issued by Pacific Life and Annuity Company. Pacific Life also issues a non qualified post settlement annuity.