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Primerica Life Insurance Review

Primerica specializes in Term Life Insurance policies ​
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Policies sold by Primerica representatives
High customer ratings
Fast insurance claims processing
Impressive financial strength ratings

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Primerica is known for its Term Life insurance policies sold through a network of representatives. In this Primerica review we will explain what makes this provider unique. 

Primera is the largest independent financial services marketing company in the U.S., with over 130,000 representatives across the states, Canada and Puerto Rico. Primerica’s agents are encouraged to go out and sell financial products such as life insurance, mutual funds and annuities to their family and friends, and recruit more representatives to join their network. Primerica has a structure similar to multilevel marketing companies, where agents receive a commission from their sales, but they also get a cut from what their recruits sell. 

Primerica specializes in Term Life insurance which is a more affordable type of insurance when compared to whole life insurance. While highly rated by customers, as Primerica works differently from other providers, it doesn’t have any quotes on the website. This makes it difficult to compare to other life insurance providers.

Primerica Overview: Financial Strength, Availability, and History

In business since:
1977
AM Best financial strength rating: AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
A+
J.D. Power Customer Satisfaction rating: J.D. Power scores are based on surveys for customer satisfaction and product quality.
741/1,000
States served:
50, plus Canada and Puerto Rico
Provider best for:
Customer ratings

PROS

  • 94% of claims paid in 14 days
  • Financially stable
  • Available nationwide

CONS

  • Multi-level marketing structure
  • Agents can only sell Primerica’s products
  • Website is unclear about policies or how to apply.

The Life Insurance Factors We Analyzed

Customer experience
Financial strength
Coverage and rider information

Primerica reviews are mostly positive, with a fairly high customer satisfaction rate according to ratings on BBB. This is also backed up by the National Association of Insurance Commissioners’ (NAIC) complaint index. This lists Primerica as having a below-average number of complaints. Nonetheless, the company ranks 16th out of 24 companies on J.D. Power’s Life Insurance Customer Satisfaction Index. 

Primerica is commended for its fast claims processing, with most claims being paid within two weeks of filing.

Primerica has one of the highest ratings on AM Best which ranks the company A+ for its financial stability and strength. This is also reflected in Moody’s rating which was recently reviewed and maintains a strong A1 rating for its credit health. 

Primerica does not list detailed policy information or pricing on its website so it’s hard to tell what Primerica will cover for you without speaking to an agent.

The Competition

 AM Best Financial Strength RatingJ.D. Power 2019 U.S. Life Insurance Study ScoreNAIC Customer Complaints
PrimericaA+741Fewer complaints than average
Northwestern MutualA++810Fewer complaints than average
State FarmA++808Fewer complaints than average
NationwideA+783More complaints than average
New York LifeA+770Fewer complaints than average
Mutual of OmahaA+795Fewer complaints than average
PrincipalA+789Fewer complaints than average

*All information accurate as of 09/23/20.

The Bottom Line 

Primerica is a well-known insurance company with solid customer and financial ratings. There have been some complaints about the business method they use, however. 

While it seems to be a popular company with lots of happy customers, the website does not have a lot of information about its services or policies. Anyone interested in their life insurance products will have to speak with a representative to get a personal quote.

Primerica FAQs

About the Authors

Kara is a freelance writer for Reviews.com. For the past few years, she has covered a wide range of personal finance topics such as home insurance, mortgages and personal loans for a variety of websites. She has been featured in The Simple Dollar, Bankrate.com and Interest.com among others. She holds a bachelor's degree in Creative Writing from LJMU in the UK. Kara's favorite review on Reviews.com is The Best International Travel Insurance Companies.

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