View INSTANT Quotes

Primerica Life Insurance Review

Primerica life insurance review
Insurance Quotes 2 Day Team

Written By Doug Mitchell

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA.  Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

Holly Mitchell  &

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.

 5 minute read

Primerica Life Insurance, or Prime America as its often called, is one of the leading providers of term life insurance for millions of consumers.  Regarded for its services, financial solutions, and life insurance, Primerica’s name has become well-known.  The structure of the carrier, however, is unparalleled in the manner in which it sells its products utilizing more than 100,000 independent insurance agents. Here is our updated Primerica life insurance review.

Primerica utilizes a multi-level marketing approach in order to reach a more substantial customer base.  Their answer to this is for their sales representatives to reach their family and friends.  This way they are able to market Primerica’s life insurance policies, financial instruments, and investment vehicles through the representative’s own personal network.

Primerica Company Background

Primerica has experienced has seen around a 10% growth in term life sales recently.

Primerica Life Insurance Company review

Primerica’s position within the life insurance industry is unique, in that they specialize in term life insurance exclusively.  Established in 1977, the Georgia-based company sells its financial products through 116,827 independent sales representatives.  

Primerica goes by the adage, “Buy Term and Invest the Difference”, meaning that the best way to ensure financial stability is to combine a low-cost term life insurance policy with a comprehensive investment vehicle.  Besides Primerica’s term life insurance, the company also offers annuities, mutual funds, retirement plans, automobile insurance, health insurance, long-term care insurance, and homeowners insurance.

Primerica’s Ratings

Prior to purchasing a life insurance policy, especially one with a large face value, you’ll want to make sure that the provider is financially stable and able to pay its policyholders’ life insurance claims now and in the future.  Primerica has been named as one of America’s 50 Most Trustworthy Financial Companies according to Forbes.

Currently, Primerica, Inc and its subsidiaries have been given an “A+” (superior) rating by A.M. Best, and the company has maintained this rating for the past 12 years.  This rating demonstrates Primerica’s financial solvency, as well as its commitment to its policyholders.  Primerica has also been accredited with the Better Business Bureau (BBB) since 1980 and has been given the score of “A+”.

As mentioned previously, the thing that makes Primerica stand out from the rest in the industry is that the company only sells term life insurance.  In fact, their term life policies are generally lower in cost when compared to other company’s whole life insurance policies.  This is their backing to the “buy term and invest the difference” philosophy.

Primerica term rates compared to other top term life carriers are not as competitive.  They are especially not competitive for people that have health impairments or smoke tobacco products.

Primerica utilizes a multi-level marketing approach much like the Amway model in order to reach a wider customer base.  Chances are one of your friends, or even a relative may be among its independent representatives, and this can play a vital role in your decision-making process.  Keep in mind that these are usually agents that have just been licensed and have little knowledge of life insurance and investments.

However, the fact that the life insurance provider strictly offers only term life can be a disadvantage to some consumers.  Unfortunately, these plans do not have a conversion option.  On the other hand, with no cash value component, Primerica’s term life policies are more affordable thank permanent life insurance, leaving more disposable income for mutual funds, retirement planning, and investing in stocks.  When compared to other life insurance companies, Primerica’s payout percentage is high – 9 out of every 10 claims are paid in just 2 weeks.

Primerica’s term life insurance is available in 10, 15, 20, 30, and 35-year terms, however, those terms availability are dependent on your age.  An important point to keep in mind is that the long-term policies (30 and 35-year options) have guaranteed level premiums only during the first 20 years.  As long as your premiums are paid, you will be covered.  Furthermore, Primerica’s policies guarantee insurability until the age of 95, which means that you have the ability to renew your term life policy without a required medical exam.  This guaranteed insurability is a great feature, especially in the cases where cancer or another serious medical condition occurs during the term.  It will however be a very expensive option.  Primerica does not have a universal life or whole life policy in which to convert.  This is a major problem with Primerica.

We recommend a thorough comparison of policies and rates.  Some of the top companies that we recommend are:

  • Transamerica
  • North America
  • American General
  • Lincoln National
  • Midland National
  • Protective Life


Life Insurance Riders

The life insurance provider offers numerous riders that can be added on to the term life policy, allowing for customization for your particular needs and budget.  Keep in mind that each rider will raise your premiums by a small amount.

Primerica offers one of the most unprecedented riders – the increasing benefit rider, which allows the insured to raise the death benefit up 10% each year for the next 10 years.  Most companies’ term life policies have a death benefit that decreases over time to allow for financial obligations that tend to occur with advancing age.  This option is only available until you reach the age of 55.

Should You Choose Primerica Life Insurance?

Primerica’s strength is in marketing to those that haven’t given life insurance coverage much thought.  With this approach, the company is able to generate a high demand for both its products and services.  The individuals that decide to go with Primerica Life Insurance choose the company because of the trust they develop for the sales representative that has introduced them to the company.  However, the representatives do not have the ability to modify the plans, and there may be better options available.


In Conclusion…

As you see, Primerica term life insurance is an affordable option.  You have the ability to be in charge of your own investing due to its lack of a cash value component making it a low-cost way to secure life insurance.  Working with a reputable insurance agency or agent that has access to multiple carriers will ensure that you get the best policy for the best price.

Although the carrier may not be the leading insurance company on the market, it is a well-known and reputable life insurance provider that works to help consumers gain adequate coverage.  Despite the fact that their product line is limited, Primerica’s term life insurance is appropriate for certain individuals.  Determining if you are one of those individuals is best left to the professionals.

Prior to making any decisions, speak with your insurance professional regarding the different forms of coverage on the market.  We strongly recommend that if you are interested in Primerica Term Life Insurance, begin familiarizing yourself with other comparable options from differing insurance carriers.  It’s important to not get persuaded by Primerica’s marketing practices.

We are Here to Listen and Serve
To get a free and confidential quote, start with the life insurance quoter on this page.

Frequently asked Questions

Does Primerica off low-cost term life insurance?

Primerica life insurance review

Although Primerica’s rates are competitive with many insurance companies, they are not a low-cost leader when it comes to rates. This may seem unusual since Term Life Insurance is the only life insurance product that Primerica offers.

Are Primerica's rates guaranteed for the life of the policy?

guaranteed insurance rates

Guaranteed rates are a very important benefit in term life insurance. Primerica only guarantees level rates for 20 years, so its 30 and 35-year term policy will likely go up on the 21st year of the policy.

Does Primerica offer riders to customize your policy?

split dollar life insurance

Yes, Primerica offers several riders that allow the policyholder to broaden their insurance coverage. Primerica offers one of the most unprecedented riders – the increasing benefit rider, which allows the insured to raise the death benefit up 10% each year for the next 10 years.  


author avatar
Doug Mitchell, CLU Independant Advisor
Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent almost 30 years in the life insurance industry and has also held licenses to sell securities, long-term care insurance and home and auto insurance. Doug is a Top of the Table Million Dollar Round Table member (MDRT).  MDRT is a global, independent association of the world's leading life insurance advisors.  For two years, Doug served as President of the Auburn Opelika Association of Financial Advisors and has been a member of the Million Dollar Round Table. He obtained Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award. Later in his career with New York Life he was an Executive Council Member. Doug currently serves as President of Ogletree Financial, a managing general agency serving life insurance agents and clients in all parts of the United States. Today, Doug’s main focus is servicing 1000s of policyholders and growing the agency through the reach of

Leave a Reply