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Review of Primerica Life Insurance Company 2020

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News 2021 for Primerica Life Insurance

Primerica Life Insurance is a financial insurance company headquartered in Duluth, Georgia, focusing on serving middle-income families in Canada and the United States. The company was founded in 1977 and today generates revenues of over 1.6 billion.

How Covid-19 has affected Primerica life insurance

As a disease that has affected our lives very much and led to millions of deaths in the last year, Coronavirus has had a massive effect on the life insurance industry.

At a conference call in November, the CEO of Primerica Life Insurance, Glenn Williams, noted that the pandemic was what makes it difficult to get potential insurers' licensees from state governments.

He also said that the number of people terminating the insurance policy was 35% lower in the third quarter of 2020 than in the third quarter of 2019 (the last financial quarter before Covid).

New Products or Changes

Primerica Insurance Company did not make any new products or make significant changes to its existing ones during this period and has not announced any plans that are under development.

Primerica life insurance in the news

In 2020 and 2021, Primerica life insurance has mostly been in the news for a major rally in its share value, which has risen above 85% during the period.

2021 Latest Primerica Life Insurance Reviews

On consumer issues, Primerica Life Insurance has an average satisfaction rating of three stars based on 913 reviews. It has a lot of five star reviews from people who liked the company's affordable life insurance and the ease of registering.

Several reviewers mentioned that they could sign up for the service after a quick meeting at their home. However, there were many one- and two-star reviews. Some of them had to do with the company processing claims slowly after someone had died, but others came from people who had worked in the company and were disappointed.

Life insurance reports begin their review of the company by noting how Primerica Life Insurance sells its products through part-time salespeople who make a commission when they get more salespeople to join. They write bluntly that "Primerica is a multi-level marketing system (pyramid scheme) that sells life insurance products."

Focusing on the products they offer, Value Penguin states that the beneficial aspects are the company's large network of agents and that no medical examination is necessary for policies that provide less than $ 300,000 coverage. They mistake the company for high average premiums and its intrusive sales tactics.

Primerica offers life insurance. The goal of the company is that you buy a policy with them and then invest the money they save you in their other products.

They are structured as a MLM (Multi-Level Marketing) company, where sales agents are independent entrepreneurs. who make the most of their money by recruiting other agents.

Primerica has plenty of positive ratings and minimal complaints. Because the company acts as an MLM for the sales part of their business, you need to understand what they offer. Doing a little research and keeping the following information at hand should help you make an informed decision.

Does Primerica have good life insurance?

Primerica has lifetime insurance policies that pay out benefits quickly. The policies are fundamental to what you will find anywhere, and there is nothing unique about the products offered.

An important aspect to keep in mind is that Primerica only offers futures policies, which means that if you live after the end of the insurance period. date, you do not benefit from it at all.

It can not be converted to Whole Life, you can not borrow against it, and it may expire before you do.

What does Primerica offer?

Primerica only has life insurance policies and you will not be able to buy entire life plans through them.

At the time of writing, Primerica offered two life insurance products: TermNow and Custom Advantage Term Life .

TermNow Life Insurance

With TermNow, you can purchase insurance between $ 15,000 and $ 300,000 for ages 12 to 70. No medical examination required.

Instead, they use a background check that reveals medical information.

Custom Advantage Term Life

Policy Custom Advantage Term Life ranges from $ 15,000 to over $ 1,000,000 for ages 12 to 70 years. You must undergo a medical examination with this insurance.

Unlike independent insurance agents who try to help you find the best insurance for your needs, Primerica only sells Primerica products. They will not compare their offers with other life insurance companies for you or make sure you buy the best option.

RELATED: 5 Critical Tips You Must Know Before Buying Life Insurance

Financial Products

In addition to its life insurance policies, Primerica also has other financial products, such as:

  • Debt Consolidation Loans
  • ] Primerica DebtWatchers ™
  • Funds
  • Annuities

Primerica's goal is to get you to buy insurance from them and then invest your money with them as well. Their philosophy is that their life policy is so affordable that you have money left to invest in your future.

Is Primerica Life Insurance Expensive?

Primerica Life Insurance is expensive. Their reputation for pricing is that if you compare companies, Primerica is always more expensive.

Primerica's main marketing message is that they are for middle class families who need affordable insurance. Their agents also push this message hard, but remember that you can find cheaper coverage with another company.

Unfortunately, you will not be able to get an idea of ​​their prices online because they do not disclose it. It may be enough to discourage people from not asking at all because they do not want to deal with an agent when the cost is far beyond their budget.

Is Primerica a reputable company?

Primerica is a reputable company. They started in 1977 and are accredited by the Better Business Bureau with an A + rating. If you research a little about Primerica, you will see that customers either love or hate them.

The problem that many have with Primerica is the organization's market levels on several levels. For some, MLM is synonymous with a pyramid scheme.

The company has a decent rating and few official complaints, but the MLM page makes it an option that will not be right for many customers. However, you can expect Primerica Life Insurance to pay out quickly without much hassle.

The point is that Primerica is a reputable company, but there is more to it than meets the eye. If you are considering Primerica, the pros and cons below can help you feel more confident in your decision.

Advantages and Disadvantages of Primerica Life Insurance

The advantages and disadvantages of Primerica Life Insurance are about the same, so you need to decide which points are more important.


  • Primerica is supported by Citigroup, which means that they have a solid financial base and will not go out of business in the coming years. [19659050] They offer other financial products in addition to life insurance, so you can use a business for multiple needs.
  • You can buy insurance without a medical examination.
  • The insurances are simple.
  • You can apply for and receive life insurance in a few minutes if you choose the insurance that does not require a medical examination. Staff turnover is high, so you may never work with your agent again in the future.
  • Primerica agents may only sell Primerica insurance products. Finding the best policy for you is not one of their priorities as there is no comparison shopping.
  • The company offers only two lifetimes that may not suit everyone. Keep in mind that this means that your policy will never be transformed into a lifetime.
  • Primerica's policies are generally more expensive than others on the market.
  • You will not find the prices online to help you shop. [19659077] Is Primerica for you?

    Pros and cons are balanced, so the deciding factor is your unique needs. Some of the pros and cons may not be important to you at all, while others may be deal-breakers.

    When buying life insurance of any kind, you should shop. Find multiple quotes and look up reviews for each company. Understand exactly what you are buying and how you will earn it in the future.

    In summary, Primerica Life Insurance is a reputable company with life insurance. Their policies are generally more expensive than other companies, and their agents are more motivated to recruit than to help you find the best policy for your needs.

    * While we do our utmost to keep our site up to date, be aware that "current" information on this site, such as quotation estimates or relevant company information, may only be accurate from the last day of editing. Huntley Wealth & Insurance Services and its representatives do not provide legal or tax advice. Please contact your own legal or tax advisor.

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