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Primerica

Primerica
Overall Satisfaction Rating 2.92/5
  • 5 stars
    225
  • 4 stars
    162
  • 3 stars
    120
  • 2 stars
    103
  • 1 stars
    292
Based on 902 ratings

This company is not yet accredited. 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.

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.

PROS

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

CONS

  • No online quotes
  • Only offers term life

Top Primerica Reviews We Found

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Rated with 5 stars
profile pic of the author
Verified Reviewer

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 life insurance and educate me, friendly not pushy, honest and willing to get me the best product for my family.

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Rated with 5 stars
Verified Reviewer

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 coverage with complete ease. The Customer service is impeccable and...the integrity of this company is like no other!

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    Are you this business?

    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?
    • 2,347,099 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 - 10
    Rated with 5 stars
    Verified Reviewer
    Original review: May 19, 2020

    I usually do not like to write anything online and put myself out there but I've read a few reviews about the experience that others had with this company. First I would like to say that I had an awesome experience with the company. I was able to get my policy and get the coverage I needed and then even increase it as needed. I just called up my representative and they helped me right away.

    There is one thing that I really would like to point out. Some people say they think this a pyramid scheme. Well if people really think about it a regular 9-5 job working for a company can also be considered a pyramid. Every job has its entry level jobs then you work yourself up the ladder by experience and longevity. Then you get a raise or promotion and you move yourself up in the company.

    Same as Primerica. You start off at the bottom then as you sell and recruit you move up the ladder. No difference in the area. The only thing that is different is you decide your own Destiny. The more you want to make then the more you have to work. But you get to make that choice. You don't have someone breathing down your neck telling you that you're late or you didn't do something right. You are your own Boss! People who feel that this is not legit or it's a scam are the same people who are not cut out for this type of work, also they may not have people skills and that's ok cause everybody is different and has different skills and excel in different areas.

    6 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: March 17, 2020

    Financial services. Primerica is multi level marketing but so are most businesses. RVPs have to put in a lot of hard work to get to their position, selling to their own Clients, recruiting, training educating. This is one of the best companies when it comes to training and being hands on, the biggest Employer of Women empowering them to be self sufficient. You are in charge of your own destiny within the business. Encouraged by a team, paid for education that would otherwise cost you thousands of dollars. It is a chance to run your own business and what you put in is what you get out, not for everyone especially those who do not like hard work, but those who do make good money.

    26 people found this review helpful

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      Rated with 4 stars
      Verified Reviewer
      Original review: Oct. 18, 2019

      I have taken the time to read over a lot of these reviews and I think that it is so incredibly funny what so many of these people have claimed. One said that they charged them $99 & $25, one question, if they were charging you, they could only do it, if you gave them your card info. Which means that you agreed to get with there company. Can't charge you unless, you give them the info to do it. Another one said that whole life was great and that they are only paying $68/month, clearly they have no idea how whole life even works.

      Part of your monthly payment actually goes to the insurance, and the over paid part, which only happens when you're younger, is put into a bank account that only the insurance company gets, not the customers paying into it, and as you age, you are still paying the same premium, but the extra money that was going into that account is no longer, intact. They don't know it, but they are actually losing money from that account to cover the missing part of the premiums. So when you are 20, say the cost of insurance is $40/month, and $28 is going into that account. But when you are 60, the amount of the insurance is more like $138/monthly, but you are still only paying $68/month. So where is the other $70/month coming from.

      What your insurance is not telling you, is it is coming out of that account, and once that money is gone, then it is taking away from the death benefit, so when you die at 65, and are counting on a $100k check, it is probably only worth like $40k. So many people don't understand insurance and that is exactly what these financial industry are counting on. And they don't want to tell you any of it, just let you find out when it is way to late to do anything about. Another says they drag out the death benefits, clearly they work for a competitor, or they really didn't have a legal leg to stand on.

      When 9-11 happened, the very next day, they were the only company to even pay the death benefits. All the other companies, used a terrorist clause not to pay one dime, so many people had to sue the other companies and the courts decided in the clients favors, and yet, they didn't even give 25% of the death benefits to anyone. There are so many reviews on here, that it is very obvious to people who actually know the business, knows that they don't know what they are talking about or the work for a competitor and want to put up false reviews. And it is making other people who read these reviews miss out on good business.

      It is obviously your choice, all I have to say, is actually know what you are talking about before you screw people who could really use the help. They are the only ones who will sit down with you, drive to your home, all free of charge and explain in detail, so that you actually will know how it works and how these other companies are manipulating people big time.

      214 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: Aug. 11, 2019

      When it comes to picking the right company for life insurance it comes down to the agent. I met my life agent Tiffany ** 2 yrs ago through a co-worker. She educated me on the good, the bad and ugly on how most policies work. I also rolled my IRA account into Mutual Funds with her after learning the upside of it. If you want an excellent agent who will go infinity and beyond it’s Tiffany. She works with many states to help and serve others. She can be reached at ** cell.

      89 people found this review helpful
      Rated with 5 stars
      Verified Reviewer Verified Buyer
      Original review: July 11, 2019

      I really enjoyed working with my agent in Virginia and learned a lot about how my insurance and 401k works and appreciated the patience to meet with me three times before I became a customer and advocate. Reading below people some commenters are shocked that after their term ends in 30 years the premium is 3x or 6x more with PRI, but consider all other competitors, which are all 20x to 30x more if they even allow you to convert; my fiancé and several friends I introduced them to had policies that were 30x or 40x more when it was time to renew, after looking into it. It makes sense, how do you expect insurance companies to sensibly price you?

      I like that you don’t have to reprove your health when you renew even when over 65 (who else does that?), their track record of paying out, and candidness. Yes I probably pay $10 more than somewhere else but the benefits mentioned above is worth it. Could you imagine getting a terminal illness just a few months before your insurance ends and/or the market crashes, you would be leaving behind far less on the table for your family if the unexpected happens. It’s the most sensible option that I’ve ever seen.

      Primerica response

      Hi, Sergio-I'm happy to hear that your experience with our Company was beneficial to you. We look forward to serving you in the future. Regena Wood, Primerica Life, Duluth, GA

      51 people found this review helpful
      Resolution In ProgressRated with 1 star
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      Verified Reviewer
      Original review: June 20, 2020

      Had friends start selling for them. Wife and I agreed to listen to their pitch as they were training. They showed up with their "mentor". We sat down and after a few minutes of small talk, the pitch started. They started asking about life insurance and finances. Asked if I would be interested in seeing how they could help us save for retirement. I told them sure and then they started asking for money. No information given as to products at this point. I told them that my wife and I don't make financial decisions on the fly and that we would discuss it privately.

      When I refused to budge on that matter, their mentor just stood up and said that we had nothing more to discuss. Meeting lasted 10 mins tops. If your product is that great, why do I have to pay to get information? I purchase based on the merit of the product. Without information on the product, I won't give a single penny. Still friends with the couple but the only way I see them make money is when they recruit a bunch of people and steal commissions from them.

      10 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: March 10, 2020

      I bought a policy with this company and a month later they declined my application after I had already given them 750.00. They returned my money in December. It’s March and I still can’t get my money. The bank advised they have a red flag on the check and they can’t get anyone to verify that the check is legitimate and that it’s truly made to me. I’ve contacted the agent and of course no response. I don’t care how high I have to go, but I’m getting my money back or they will have a ** storm of negative publicity on social media and a bad review to the BBB.

      Primerica response

      Primerica Life is dedicated to providing prompt, courteous customer service. To protect her privacy, we have reached out to Norma for additional information to address her concerns. Regena Wood, Primerica Life

      35 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Feb. 13, 2020

      After going to my first Primerica meeting, I could immediately identify that it was a Multi-Level Marketing company, or put into Layman's terms, a Pyramid Scheme. The people in your "upline" make all of their passive, bragged-about income off of YOU and YOUR sales and recruits. Primerica RVPs like to brag about how much money they make without doing anything. That's because they have built a hierarchy that recruits literally EVERYONE and promises them that they can quit their job and join Primerica for "unlimited income potential." You only make money if you recruit people, regardless if they are salespeople or not. The only way to make a steady income is to always be recruiting people, selling them a policy to make your commission, and then to heck with them. If they recruit and make you more money, then great, if not, you'll just go find another vulnerable soul to con into your scam.

      For those in Primerica now, I am not some "unsuccessful, unmotivated" agent who just "didn't try," I actually made a couple thousand dollars working with Primerica, but at what cost. I ruined relationships and friendships I had for YEARS by trying to recruit people into a Pyramid Scheme. EVEN PRIMERICA STATES ON THEIR WEBSITE "From January 1 through December 31, 2018, Primerica paid cash flow to its North American sales force at an average of $6,069, which includes commissions paid on all lines of business to licensed representatives." So to all those "new recruits" reading this, the RVP in that opp meeting that talks about how many millions he's made from Primerica, be careful what you believe.

      I could go on and on forever about how poor of an experience I had with Primerica, but if this review communicates any message at all, let it be STAY AWAY FROM PRIMERICA. Are there people who have done well in the company? Yes. They either got lucky or are great con artists. It's a waste of time, money, and relationships. For a company that talks about independence, freedom, and a happy life with lots of money, they sure know how to take that away from people.

      120 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Jan. 31, 2020

      So a broker named Donya ** convinced my girlfriend and her friend to join Primerica's pyramid scheme by misleading her into thinking she was a financial advisor. My girlfriend being a first year college student felt very inclined to follow the guidance of this seeming young and empowered female broker. In doing so she was misguided and taken advantage of by being persuaded to join Primerica by paying a $130 CAD membership fee and a monthly fee of $28 USD. As soon as I put the pieces together I messaged the broker to drop all affiliation with Primerica after paying the initial fees, but the broker is no longer responding and Primerica is still trying to charge my girlfriend and her friend for a monthly fee.

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

      This is my very hard learned lesson! I didn't know anything about investments and did a 401K rollover to a traditional IRA (mutual funds investment) with Primerica. I invested almost $50K three years ago and 3 years later I made only $100 profit, and still have to pay them fees over that money! On the meantime Primerica made at least $6,597 in hidden fees at my expense! When I FINALLY woke up I was shocked! BE CAREFUL!!! DO NOT INVEST WITH PRIMERICA! I am not rich or young and this REALLY hurt me! Lesson learned: If you think education is expensive, try ignorance! My ignorance cost me lost of hard earned money!

      139 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
      Phone:
      (770) 381-1000
      Website:
      www.primerica.com