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Primerica Life Insurance Review


ConsumersAdvocate.org Rating: 3.8 / 5 (Very good)
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Headquartered in Georgia, Primerica, Inc. primarily offers investment and savings products, and term life insurance to customers in the US, Canada, and Puerto Rico. The company was founded in 1977 and operates a business model that recruits people of all backgrounds and skill levels to sell its life insurance policies to friends, family members, and coworkers, as an opportunity to start their own business or make extra money on the side. Primerica only offers term policies.
 
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How is Primerica rated?

Breakdown

4.0/5
Company Stability
3.5/5
Reputation
3.5/5
Policies & Coverage

Overall Rating: 3.8 / 5 (Very good)

Primerica is one of the top 20 largest life insurers in the country. Although they have good financial strength ratings and offer solid, dependable coverage, they only offer straight up term policies. Also, policy options and riders are quite limited when compared to similarly sized institutions.

Financial Strength

Key Details

Underwriter
Primerica Life Insurance Company
Marketshare
1.65%
Premiums Written 2019
$2,103,746,846
AM Best Financial Rating
A+

Company Stability - 4 / 5

Primerica has good financial strength ratings, although they have only been evaluated by AM Best. The company is the 16th largest life insurance provider in the US with a 1.65% market share. Customers of Primerica can be assured the company is well situated to meet all of its claims responsibilities for the foreseeable future.
*The above information reflects the market share, premiums, and financial strength of the issuer of the Primerica life insurance policies: Primerica Life Insurance Company.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAIC Complaint Ratio 2017
0.28
NAIC Total Complaints 2017
37
*The NAIC complaint ratio (in this case 0.28) is a ratio of the number of complaints a company received for the total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Customer Ratings

BBB Rating
A+
Number of BBB Positive Reviews
7
Number of BBB Neutral Reviews
1
Number of BBB Negative Reviews
4
Date Collected
2017-08-29

Reputation - 3.5 / 5

Primerica carries an A+ rating with the BBB and customer review trend toward the positive.

Primerica Policies

Primerica offers customers the following life insurance policies: Term.

Key Term Policy Features

  • Waiver of Premium

Policies & Coverage - 3.5 / 5

Primerica only offers term policies. Customers who wish to purchase permanent or universal products must look elsewhere. The company is also not that forthcoming about coverage amounts and age limits. Policy features are also quite slim in comparison to other carriers as they only offer waiver of premium as far as we can tell.

Flexibility and Available Riders

Available Term Life Riders

  • Critical Illness Rider

Flexibility & Available Riders - 0 / 5

Additional Company Information

Homepage URL
http://www.primerica.com/public/primerica-term-life-insurance.html
Company Phone
(800) 257-4725
Headquarters Address
1 Primerica Parkway, Duluth, GA, 30099
Year Founded
1977

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Top Rated
Our Partner
  • The only 100% no medical exam term life insurance
  • Ages 18 to 60 are eligible to apply
  • Term life policies $50,000-$1.5 million in coverage
  • Company offers 10, 15, 20, 25, and 30-year terms
  • Monthly premiums as low as $10
  • Featured in WSJ, CNN, Forbes, TechCrunch & Money.com
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