Primerica offers life insurance policies for people of most ages and health backgrounds.
But is Primerica a good life insurance company?
Our team of insurance experts have spent countless hours analyzing Primerica's online reviews, product offering, and sales process. This review will help you make a decision whether to purchase a policy from them.
So let's take a closer look at what they have to offer.
Who is Primerica?
Primerica Life Insurance company is a financial services company offers term life insurance and investment products. Primerica sell their life insurance products through representatives, who are encouraged to target and recruit their friends, family members, and co-workers to buy and sell Primerica’s products to others. Primerica’s representatives earn commission based on sales made by the agents they recruit, a strategy that is known as multilevel marketing.
Multi-level marketing follows a strategy similar to that of a pyramid scheme except it is perfectly legal and used in many business plans.
Primerica Facts & Financial Information
Founded in 1977
Headquartered at Georgia, USA
AM Best Financial Strength Rating: A+
Life insurance is a long-term contract. So, it is important you pick a provider that is financially stable. You can determine how well an insurer is doing financially by looking at its AM Best rating. AM Best is an independent agency that rates life insurance companies on a scale that ranges from A++ downward, depending on their current and long-term financial outlook. Similar to competitors like Canada Protection Plan, Primerica received the second-highest rating of A+ from AM Best. In plain English, this means Primerica has the financial wherewithal to survive a long-term contract.
Primerica Life Insurance Reviews
While it is important to check out the online reviews of Canadian life insurers to get an idea about their customer service, you might not want to use online criticism as a measure for buying a term life insurance policy. Online ratings often do not tell the whole story as something like insurance is highly personalized to you.
We found that Primerica scored 2.6 stars out of 5 on Insureye (a decrease from last year). This is not a bad a score compared to other large insurance companies in Canada. However, there were no Google reviews available for this insurer.