Primerica Life Insurance Review – Forbes Advisor

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Who Is Primerica?

Primeria is a multilevel marketing organization that targets middle-income families. Its agents can make commissions not only based on their own sales but also based on the sales of those they recruit under them to sell policies (such as friends and family members).

Primerica’s agent material promotes the idea that agents could have other full-time jobs and sell Primerica products for extra part-time income. In our opinion, life insurance buyers are better off working with a full-time life insurance agent who is familiar with a range of products and companies.

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Types of Life Insurance Sold by Primerica

Primerica term life insurance

Primerica specializes in providing term life insurance. These policies provide a level premium for a specified period. Primerica’s term length choices are 10, 15, 20, 25, 30 and 35 years, but buyers at older ages won’t qualify for the longest lengths. For example, Primerica’s 35-year term policy is available only to buyers ages 45 and under.

After the level term period ends, you can continue to renew a Primerica life insurance policy until age 95. Rates will be higher at each renewal, based on your age.

Primerica sells two types of term life insurance:

  • Custom Advantage term life insurance requires a life insurance medical exam.
  • TermNow policies do not require a medical exam and can be issued quickly. Coverage is available up to $300,000. Because there’s no medical exam, expect rates to be higher than a Custom Advantage policy.

Primerica does not offer permanent policies such as whole life insurance or universal life insurance. If you’re interested in these types of life insurance policies, you’ll need to work with a different company.

Because Primerica does not offer any permanent life insurance options, its term life policies do not have a term life conversion feature. This feature is common among many other life insurance companies and lets a policyholder convert a term life to a permanent life insurance policy.

Agents with access to Primerica’s rates report that it does not offer competitive pricing.

Primerica’s Life Insurance Riders

A life insurance rider is an additional protection or benefit that you can add to your policy. Riders allow you to customize a policy with extra coverage or features. Here are the riders offered by Primerica.

  • Child Rider. With this benefit, all eligible children are covered by the policy as well.
  • Increasing Benefit Rider. This rider lets you increase your coverage amount by up to 10% per year over 10 years.
  • Terminal Illness Rider. This benefit gives you access to some or all of your own death benefit if you are diagnosed with a qualifying terminal illness.
  • Waiver of Premium. With this rider, the life insurance company will waive part of your premiums if you become disabled and can’t work.

Other Primerica Products

Primerica agents also sell disability insurance, annuities, mutual funds and other financial products and services.

Primerica Company History

Based in the Atlanta metro area, Primerica was founded in 1977 with the philosophy of “buy term and invest the difference.” The company started with a team of seven founders and 85 sales representatives, operating under the original name of A.L. Williams and Associates, Inc.

After a series of expansions and acquisitions by predecessors of Citigroup Inc. throughout the late 1980s and 1990s, the organization was “refounded” in April 2010 as Primerica, Inc., an independent and publicly traded company.

Primerica Charitable Causes

Primerica engages in various charitable efforts to support Georgia communities, including grant funding, corporate donations, in kind services and employee volunteerism.



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