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Primerica

Primerica

 2.9/5 (914 ratings)
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About Primerica

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Primerica exclusively offers term life insurance through two policies: TermNow and Custom Advantage. Each policy includes term lengths from 10 to 35 years. Primerica provides up to $5 million in coverage and allows coverage until age 95. Primerica also offers coverage without a medical exam, depending on the plan.

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    Overall Satisfaction Rating

    • 5 stars
    • 4 stars
    • 3 stars
    • 2 stars
    • 1 stars

    Pros

    • Two policy options
    • Riders included
    • Insures seniors
    • Payouts in two weeks

    Cons

    • No online quotes
    • Only offers term life

    Bottom Line

    Primerica offers term life insurance policies with term lengths up to 35 years and coverage up to $5 million. Policies are available for applicants up to 70 years old. No online pricing makes it difficult to explore policy options.

    Top Primerica Reviews

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    Rated with 5 stars
    Verified

    I had a great experience with Primerica... I have checked around with a few other companies and this was the first one to explain to me the difference between different types of l...

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    Rated with 5 stars
    Verified

    I have loved my experience with Primerica for many reasons. I got my life insurance at the age of 47 and it was incredibly affordable and easy. 6 months later I increased my cover...

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    What is Primerica?

    Primerica is a life insurance company that offers two types of term life policies for customers between 18 and 70 years old.

    • TermNow, with up to $300,000 in coverage
    • Custom Advantage, with up $5 million in coverage

    Customers who buy term life insurance from Primerica work with a local Primerica life insurance agent for a personalized customer experience. Primerica life insurance policies cover people until age 95, and almost all payouts take only two weeks.

    The company provides agent information by state on its website. A Primerica insurance agent helps customers through the application process. To get a Primerica life insurance quote, you need to provide your age, address and gender and answer a few questions about your general health. Depending on the policy, customers may need to provide their Social Security number and driver’s license. Call or email a local Primerica life insurance agent in your city or state to fill out an application and get a quote.

    Primerica life insurance policies

    Primerica exclusively offers term life insurance and simplifies the process by providing only two plans: TermNow and Custom Advantage. Both options come with term length options of 10, 15, 20, 25, 30 and 35 years. However, only people who are younger than 45 are eligible for a 35-year term life insurance policy. For individuals 55 and older, 25 years is the maximum term length.

    Primerica’s term life insurance policies have coverage up to $300,000 for TermNow plans and up to $5 million for Custom Advantage plans. All Primerica policies provide life insurance coverage until a maximum age of 95.

    Primerica term life insurance policies include these riders to give policyholders more coverage:

    • Increasing benefit rider: Increases the policy’s death benefit value by up to 10% for 10 years
    • Terminal illness benefit: Gives policyholders diagnosed with a terminal illness access to their death benefit to pay for medical expenses and care while they’re still alive
    • Waiver of premium: Waives the monthly premium if a policyholder becomes critically ill or disabled

    How much does Primerica cost?

    Primerica life insurance typically costs $20 to $50 per month for healthy individuals. Cost varies depending on the policy and the applicant's age and health profile.

    People who smoke, have a poor health history and are older have higher life insurance costs. A Primerica life insurance policy with a lower coverage amount costs less.

    Unlike some competitors, Primerica doesn’t offer a quote tool, so interested customers must call or email a local Primerica agent for a free quote.

    Primerica FAQ

    How long does it take Primerica to pay out a life insurance policy?
    Primerica pays out most life insurance policies within two weeks of a claim submission. A small percentage of policies take longer than two weeks to pay out.
    Does Primerica require a medical exam for life insurance?
    It depends on the policy:
    • To get a Custom Advantage policy, a Primerica life insurance medical exam is required.
    • TermNow policies do not require a medical exam, but Primerica does a background check to determine eligibility.
    Can I buy Primerica whole life insurance?
    No, Primerica doesn’t offer whole life insurance policies. The maximum term available for Primerica term life insurance is 35 years for people under 45. For people over 55, the maximum term is 25 years.
    Is Primerica life insurance legit?
    Yes, Primerica is legitimate. It’s a publicly traded insurance and financial services company. Primerica has offices in every state across the U.S. except North Dakota and has more than 130,000 independent life insurance representatives.

    Is Primerica legit?

    Primerica is a stable company that’s been in the life insurance industry for more than 40 years. A Primerica insurance policy is best for those who have temporary expenses — such as care for children or mortgage payments — and are specifically looking for term life insurance. Primerica is also an excellent option for seniors who want coverage, since coverage is active until age 95. Primerica pricing and quotes for term life insurance are not available online, but working with an agent one-on-one creates a personalized experience.

    Primerica Reviews

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    How do I know I can trust these reviews about Primerica?
    How do I know I can trust these reviews about Primerica?
    • 3,305,196 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.

    For more information about reviews on ConsumerAffairs.com please visit our FAQ.

    Page 1 Reviews 0 - 5
    Rated with 5 stars
    Verified Reviewer
    Original review: Jan. 31, 2021

    I have been involved with Primerica for over 30 yrs. I’m not a huge income earner. I’ve worked a regular job and used primerica as a source of extra income for my family and that’s what I found so attractive to their opportunity. And I joined them because number one the person who came to see me Made such a huge impact on my life by explaining just common sense concepts about investments and life insurance and helping me properly protect my family. I was so impressed by what they did for me. I joined the company because what they did was so good for me. I just wanted to help other people like they helped me and over the years I have helped many families by sharing what we do at Primerica.

    I have never ever sat down with anyone and shared our concepts of how we help families and had a not one negative response even if I didn’t do business with them. And I always ask is, "What I’ve shared with you so educational that you would want share it with everyone?" You know just to help them understand what I’ve been able to teach you today even if you didn’t get paid to do it and their response is absolutely 100%.

    So for the people who write all the negative things on here maybe you did have a bad experience but if so it is absolutely not because PFS itself is not a great company. Maybe you had an agent who as in many companies didn’t do their job properly and I hate that for you. I really do. I’m just saying if McDonald’s had an employee that did a bad job that doesn’t make their Big Macs (products) bad.

    So for everyone who reads these posts if you want to look for something negative and make very serious decisions for your financial future do your own homework and make a your decision based on the facts for yourself. You won’t find them here. I’ve never ever done one of these posts before in my life but I believe everyone owes it to themselves to make such important decisions for their families future based on facts.

    All I will say is this in closing (THERE'S NOTHING MORE POWERFUL THAN AN IDEA THAT'S TIME HAS COME). This company was founded by a high school football coach with an idea and a crusade to help middle class Americans just like himself have a better future for their families and that idea has grown into the Largest Financial Services Marketing company in North America today. I really don’t think that happened by doing bad things for people, you might just wanna check how we got to this point for yourself!! God Bless.

    10 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Dec. 18, 2020

    Primerica takes integrity to the kitchen table! Taking a buy term & invest the difference philosophy to consumers they do what’s right for the consumer 100% of the time. As a licensed representative with Primerica since 1997 I can say with all honesty that they offer a very real opportunity doing great things for people. They are committed to helping people get out of debt and become financially independent teaching common sense principles that work. I am truly grateful to Primerica for their commitment to doing what is right!

    4 people found this review helpful

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      Rated with 5 stars
      Verified Reviewer
      Original review: Dec. 4, 2020

      Very happy. Actually received proper coverage that was tailored and right for ME and my individual needs and budget (more for less too) as opposed to what's better financially for the company or agent like others and that wasn't "too good to be true". Everything was explained in layman's terms and all and any questions were answered by agent who had my best interest at heart. Medical questionnaire etc was straight forward and not misleading or vague, covered a lot of things and nurse was able to came when it fit with my schedule any time of day.

      4 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: Nov. 19, 2020

      This is a term life insurance policy that renews every ten years. The premiums increase at renewal and is recalculated based on my age at renewal time. Because of my income, I have had to reduce the amount of the insurance. I started at $120,000 when I initially bought this insurance in 1989. I am currently down to $15,000 to achieve affordability. There is no cash value attached as it would have been had I bought a whole life policy. At my current age of 70, a whole life policy would cost more than I could currently afford. Despite these issues, this company was very efficient at paying me after my son died as I also paid his insurance premiums.

      7 people found this review helpful
      Rated with 5 stars
      profile pic of the author
      Verified Reviewer
      Original review: Aug. 20, 2020

      We've had our policy for over 15 years. Being prepared in case anything happens to hubby and I for the benefit of our kids is extremely important. The benefits and coverage offered far exceeds our expectations and knowing our kids qualify for a policy to cover their needs and the needs of their family is just as important. The savings and benefits are passed along to them as well.

      6 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: April 16, 2021

      I requested a sizeable redemption check from my money market account on February 10, 2021. After not receiving the check in over two weeks I contacted Primerica. Primerica cancelled the previous check and sent me a replacement check on March 9, 2021. I immediately deposited it and it showed up as positive deposit in my checking account March 19, 2021. Typical for banks to hold for days on a large check to insure it clears. On March 25, 2021, I checked my online account days while paying bills and noticed that the check had been marked returned and I was charged a fee for the returned check. I contacted my bank and they told me the check was returned by “the Maker of the check” who is Primerica via Mellon Bank due to insufficient funds.

      I immediately contacted Primerica and they said the check was cashed and there is nothing we can do about it. I finally got my bank on a three-way call with Primerica, and Primerica asked for my bank to send them all of the information indicating the return of the check. Today is April 14, 2021 and I have spent over 12 hours and dozens of different customer representatives, Case Numbers, Reference Numbers, Investigation Numbers, and every time I call its like they have no idea of what I am speaking of and it starts all over again and tell me they are continuing to investigate.

      The latest request from them was for me to send them a screen shot of my account showing the deposited check and the returned check, which I have done. I have asked for a supervisor during each call, never have been given a supervisor. Each time I call, they ask me for the name of Primerica Representative, I give the name and remind them each time that his name is on my account, but he has not worked for Primerica for over 10 years, I know him personally.

      This place is a sham, pyramid scheme to sell you life insurance and get you to invest. I have never once been contacted by Primerica in over 15 years to advise me my investments. Matter of fact, the advisor they have on my account has not worked for Primerica for over 10 years. This is the very reason I am moving all of my accounts over to Ameriprise where I have had the best experience. Sharing as to keep others from going through what I have. DO NOT USE PRIMERICA FINACIAL SERVICES

      19 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Nov. 11, 2020

      Primerica is the worst company! My boyfriend worked for them and it was the worst experience! When my boyfriend expressed concerns his boss made fun of him. Told him that he wouldn't succeed in life if he didn't work for them. He also told him that he was settling to go to college. They were pushy and very inconsiderate! Primerica is sketchy and they hide facts from you. They also don't believe the customers when they tell them how much they pay for their insurance. I wouldn't recommend this company at all!!

      31 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Nov. 2, 2020

      I have life insurance with Primerica, I purchased when I was very young. I have regretted my entire experience with them since. Please do thorough research about insurance policies and your agent (or lack thereof) before getting tangled up with this very unethical group. Low morals, no communication, and they could not admit their years of billing errors. It's so disappointing that they took advantage of my lack of life experience all of those years ago, and that's the type of group they continue to be.

      35 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 21, 2020

      I have had a term life insurance policy with Primerica since 1990, I was 35 years old at the time. The first 20 years, the premiums were very affordable, then in 2010 the premiums went up to $89.02. On September 11, 2020, I received a letter titled “Premium Increase Notification”. I now have two (2) options and they are as follows: I can choose a monthly premium of $423.80 (a 476% increase) or a monthly premium of $366.71 (a 411% increase) or I could downgrade my coverage drastically and still pay a considerable monthly premium, that doesn’t even balance out, considering the amount of coverage that you’re losing.

      And by the way, if I do not choose a new payment option, they will choose the higher premium for me, without my approval and proceed to submit an ACH on my behalf, for payment. On September 11th, I contacted the company by phone and requested the following documentation: 1. A signed and dated copy of my original policy. 2. An audit statement (billing and payment history) from 1990 through August 2020. It is now 10/21/20, and I’m yet to receive either of these two (2) documents.

      I have tried contacting my representative directly (John **) directly by phone and via e-mail, with no response. A representative on his behalf contacted me and I requested the above on three different occasions and she could not provide. She told me I would have to request this information via e-mail and send it to a specific e-mail. I have sent four different e-mails and I have still not received the information that I have been requesting, for over a month.

      Why do they assume that at this late stage in life, that I would be able to afford an exorbitant increase in my premiums? If you’re a sensible and honest thinking person, wouldn’t you assume that the premiums would go down? I am now 65 years of age, retired and on a fixed income. I think we ALL know how this scam works: They want to force you to cancel your policy and it’s a win-win for them. They get to keep all the money that you’ve paid them for the last 30, 40 or 50 years. After all they’ve been using your hard-earned money to invest, grow and pay commissions. Therefore, we have insurance companies that are filthy rich! Do not purchase a policy from Primerica Life Insurance Company.

      44 people found this review helpful
      Rated with 5 stars
      profile pic of the author
      Verified Reviewer
      Original review: Sept. 4, 2020

      I've had a policy with Primerica for at least 15 years. The rate stays the same every month and is drafted from my checking account every month. Thinking about increasing my policy. Would definitely recommend to anyone...

      8 people found this review helpful

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        Primerica Company Information

        Company Name:
        Primerica
        Company Type:
        Public
        Ticker Symbol:
        PRI
        Year Founded:
        1977
        Address:
        3120 Breckinridge Blvd.
        City:
        Duluth
        State/Province:
        GA
        Postal Code:
        30099
        Country:
        United States
        Website:
        www.primerica.com