If you're looking for instant life insurance quotes to compare your Primerica life insurance rates against, complete the form on the right and quotes will be displayed immediately.  Otherwise, read on to our in depth review.

You may have been approached by a friend, family member or colleague about buying a life insurance policy from Primerica, also referred to as Prime America.  I encourage you to take 4 minutes to read this article to get the facts about term life insurance from Primerica.

WSJ Prime AmericaThe first thing you should understand is that Primerica is built as a multi-level marketing business

Which means the agent who presented you this Primerica term life insurance will probably ask you to join their team in the future - so they can make money off the life insurance policies you sell. 

This doesn't exactly scream "expert" life insurance agent.  In fact, most recruits have trouble passing the insurance exam according to the Wall Street Journal.

The reason I present this information first, is so you know that your Primerica agent is a recruiter first and life insurance agent second.

Enough of that.  Lets get into the review of Primerica's (aka Prime America) actual term life insurance offerings.

Fact #1: Primerica ONLY offers term life insurance


Which is fine, for today, if you only need term life insurance.  However, one of the biggest benefits of a term life insurance policy is it's conversion feature - which "Prime America" doesn't have and almost every other life insurance company on the market has.

A life insurance conversion lets you convert your term life insurance policy to a permanent policy with no evidence of insurability.  No one really plans on converting their policy to a permanent one when they initially purchase term life insurance, but it's common for situations to arise throughout the term of your policy where you might consider it.  

For example: Your policy is about expire and you can't qualify for coverage because of a health issue you developed.  The conversion option lets you keep your coverage at the same health class that you applied. This can be a HUGE option for your family down the road.

Life changes and your term life insurance policy needs to be flexible.  There is no reason why your term life insurance policy shouldn't have this conversion option. 

Fact #2:  Primerica (Prime America) has EXPENSIVE term life insurance

Run an instant life insurance quote on our website and compare it to your Primerica life insurance rates.  You'll notice that there are much better life insurance options out there with the same financial ratings. 

Here's why: We're an independent life insurance broker and can offer any life insurance company on the market.  On top of that, we let you compare rates side by side, so you know you're getting the best rate available.

Just know that you can find MUCH better life insurance rates by shopping elsewhere.

And for the record, all of those quotes you're seeing have that conversion option that was mentioned above.

Fact #3: They don't take any high risks

If you have any moderate to major health issues, good luck getting coverage with Prime America.  It seems we're always helping those who were declined life insurance by Primerica find affordable life insurance coverage.

In fact this is what prompted us to write this article.  Too many people think they are uninsurable, but in reality, they just used the wrong company for their risk.

If you find yourself in this category, we're high risk life insurance experts.  Please don't hesitate to contat us.

Don't let a Primerica agent spin the truth about their life insurance offerings.

Life Insurance Truths Prime AmericaIf you confront your agent/friend/family member about being able to find coverage at sometimes HALF the cost, they'll have a canned response they've been trained to give.  They'll tell you about 3 things:

1.  Financial Ratings.  Your Primerica agent will tell you about the A+ AM Best financial strength rating.  Just know that almost all of their competitors have A or A+ ratings and still crush their rates.

2. The VALUE of their policy over others.  Your Primerica agent will tell you about the "living benefits" of their policy which other life insurance companies with less expensive rates include with theirs policies as well.  There's nothing special about their "living benefits" over others.

3. Quick claims paying.  Most likely you'll hear a story of how someone's mother or father passed away and Primerica paid their claim within 1 week (I've heard the same story from several agents).  It's just a canned response they're trained to give to sell you "peace of mind".  The truth is if you're outside the 2 year contestability period of a life insurance policy, almost every life insurance company will have a check in your hand within a week.

You see, Primerica agents are masters at "spinning" the truth about their expensive life insurance offerings.  And they have to because it's the only insurance they can sell.  They can't offer anyone else.

Don't get us wrong, Primerica, aka "Prime America" agents are GREAT people.  They genuinely want to help your family and we applaud them for that.  They are just limited in their life insurance options.

Our Primerica life insurance review is intended to get you the information your Primerica life insurance agent wouldn't ever provide.

When we field the question "Is Primerica Life Insurance a good company?", we always refer people to this article.

In these tough economic times, you need to pay the lowest possible cost for your term life insurance.  Make sure you contact an independent agent so you can compare rates.

Summary
Reviewer
Jeff Root
Review Date
Reviewed Item
Primerica (Prime America
Author Rating
2
Instant Quote
About Jeff Root

is the owner of rootfin.com. He's an independent life insurance agent who has helped 1,000's of consumers purchase life insurance online and over the phone.

This entry was posted in Reviews. Bookmark the permalink.

19 Comments

Gregory Sloan, CLU, ChFC

You are 100% correct!

December 7, 2012 at 12:11 pm
Rourke GT

Truth is, and the biggest issue with most or all companies is their agents. Most agents representing other companies would rather sell Universal Life, Index Universal Life, Variable Universal Life, and Whole Life because there is much incentives in doing so without looking into an individuals specific needs. Sometimes a person feels that cheaper insurance is better, but at the same time one may need to look at a company that is more conservative. Most life insurance companies are doing whatever in their power to create a product with cheap prices, but you have to consider the facts that as good as a promise is, is the company standing behind it. It doesn’t matter whether it’s a 100 year old company compared to a young company like Primerica. What comes down to the bottom line is, which company will make it easier for a family when a claims arises regardless if it’s before or after the 2 year incontestable clause. That all comes down to friends or family experiences on claims and customer services from a company that will make an individual choose which company to do business with. Sometimes a person may preferred to choose Primerica over another competitive company and sometimes, not, but the question here is that the person has bought a policy that makes sense to them.

July 14, 2013 at 1:46 am
Merrissia Rorie

I am interested in getting my Life insurance license. I am currently licensed in Health Insurance and specialize in Medicare. Please send me info on how your training process works and how to get assistance with the life insurance exam.

Thanks,

Merrissia

December 16, 2014 at 4:25 pm
Alistair Rapier

First off, the only people that ever refer to “Primerica” as “Prime America” are people that have no idea what they are talking about when discussing the company.
Second, the company has been in business for 37 years (starting as “A.L. Williams”, named after the founder) and has always held to the belief that selling insurance for the death benefit and investing money for retirement should be two different accounts.
Proponents of the “cash value” policies in all their various forms don’t tell you that you pay 6 times what Primerica will charge you for the same death benefit. What they will tell you is that their policy has a separate account that builds “cash value” and that you can access this money when needed. They leave out the part that says that you don’t get the cash value AND the death benefit. If you die, your family gets the death benefit and the insurance company keeps the cash value (that they have been investing and earning interest on all this time). If you have taken out the cash value (and your policy hasn’t died because of it) and you die, then your family gets the death benefit less the amount of money you pulled out of the cash value.
3. Yeah, as to that whole recruiting thing. There are two ways to earn money at Primerica, in sales or in management. If you want to do sales you make your commission just like at any other company. If you want to manage your own office and make money off what other people are doing in your office (you know, like real estate brokers do), then you will need to recruit people to work for you…just like at any other company.

It sounds to me that the author has an axe to grind.

January 17, 2015 at 5:06 pm
    Jeff Root

    Alistair,

    No axe to grind here. Primerica is good for an independent agent’s business because Primerica’s policy holders eventually realize they can get a much less expensive term life insurance policy after having a conversation with one of us. Primerica offers term life insurance at inflated prices – any independent agent can easily offer the same thing you’re offering for less.

    I say “Prime America” because a lot of consumers refer to it as that. Even your current policy holders. To say your clients don’t know what they’re talking about is a little harsh.

    Being in business for 37 years doesn’t mean anything – I’d bet over 80% of the life insurance companies on the market have been in business over 50 years.

    Lastly, consumers want to protect their family with life insurance. After they take care of protecting their family, they don’t want to be offered to come to a meeting about an “opportunity” and be sold into selling for you guys. There’s a great discussion of Primerica’s tactics here.

    January 17, 2015 at 11:34 pm
      Donahue Vanderhider

      I have a friend from central america who is killing it selling Primerica, but she knows nothing about the business outside of what they teach her in those meetings. She got me to attend one, and its like any other multi-level marketing “scam”, they hype the hell out of how much money you will make and encourage you to get your friends to come to the meetings so they get in on it. etc. etc.

      January 22, 2015 at 8:27 pm
    Karen McCoy

    I love working for Primerica! I have learned so much about the business and we are very dedicated to educating and helping people with insurance and investments. I find it pretty unprofessional of you to bad mouth a company as large as we are knowing what you say you know. Do any companies have 100% perfect employees? I’ve not seen one yet, but I will say this, our Primerica group is dedicated to educating and helping people by not offering bad policies. Whole life, variable life, and universal life are not in people’s best interest……you should know this. If you sell it, it’s more about you than the customer. I was sold whole life years ago, I know why it’s a poor insurance choice. Not only that, but financial gurus like Dave Ramsey ad Susie Orman agree. Term life with proper investing, teaching self insurance, and building wealth for our clients is our mission. I am proud to be part of Primerica!

    March 15, 2015 at 11:44 pm
      Jeff Root

      Karen,

      I’m not being unprofessional. I’m educating consumers. Please correct any false statement I made.

      As you said, you’re still learning the business. I know you’re proud to be a part of Primerica now (their kool aid is strong!), just ask yourself how it’s in your client’s best interest to offer only 1 life insurance company? How is it that we’re replacing Primerica life insurance policies just by using a different company? If you’re truly about helping your clients with term life insurance, you should highly consider going independent and contact your local IMO.

      March 16, 2015 at 11:54 am

Do you help client get out of debt? Do you really offer the lowest cost option, like term life for your clients, or do you get paid more to sell whole life aka convertible polices, and of they convert you get paid again ? Do you truthfully share details of how your policies can canabilize over time and become too expensive for clients to maintain for life? Do you share these detials?

Just saying our philosophies are to well educate clients to make informed decisions that make sense for them and their families not our pocket books.
As I’ve learned about other policies, I’m not sure how you feel good selling any but term and invest the difference.
Are you licensed to sell securities?
Have a wonderful day !!

March 27, 2015 at 1:48 pm
    Jeff Root

    Katie,

    I won’t take your comments and accusations offensively – I know your hearts in the right place. So let me re-frame a few things for you:

    Do you really think one company (in your case, Primerica) is right for everyone? Every day I get people contacting us because either (1) They were declined with Primerica for health reasons and I’m able to secure them coverage to protect their families OR (2) they see our instant quotes and we’re able to get them better rates. So to answer your question – yes, I do offer the lowest cost options…every. single. time. Do you?

    If you want to talk about conversions – what happens if your client’s policy is about to expire and they were just diagnosed with cancer, heart disease or anything? With Primerica, there’s nothing you can do because there’s no conversion options. With conversion options, they can extend their coverage with no evidence of insurability. How can Primerica deny that benefit to your clients when 95%+ of term policies on the market have conversion options?

    To clarify – we only offer term life insurance and guaranteed universal life insurance here. Both have guarantees so they won’t “canabalize”. Your accusations are simply that and nothing more.

    I’m just happy that lots of people are finding this article so they know the truth.

    March 27, 2015 at 2:24 pm
      Nate

      Just to clarify, if your Term policy with Primerica is going to expire and you have health or medical conditions regardless of the severity, you are guaranteed insurability without having to requalify.

      March 30, 2015 at 12:37 am
        Jeff Root

        Nate – You’re not telling the whole story so let me elaborate. When a Primerica term life insurance policy expires, the policy becomes “annually renewable” to age 95. In other words, the price will continue to increase up to age 95. Annually renewable rates are rarely affordable and always increasing. If someone has a health condition that won’t let them qualify for traditional life insurance, it’s true they don’t have to re-qualify with Primerica, but they won’t be able to afford the premiums…so what’s the point?

        This is not the same as having a conversion option where you can structure something with guarantees and within budget. For any Primerica term life insurance policy holders reading this – look at your policy. There will be a page with a chart of annual premiums for each year of your policy. Look at the cost of your life insurance after your term expires and see just how unaffordable it will be for you.

        March 30, 2015 at 12:09 pm
BJ

That sir is inaccurate. First you infer to Katie that if you get sick before your initial expiration of a Primerica term policy, you won’t be able to be covered by the company anymore. When Nate cleared the air that Primerica offers guaranteed insurability, you said our policies convert to annually renewable. That is also untrue. It is every 5 years before the attained age of 70 then annually thereafter to 95, again with no health questions. What is not being taken into account is that the financial experts like the ones mentioned by Karen above agree that Life Insurance was never meant to be a permanent need. It was meant to protect against a premature loss. We never claimed to be the cheapest, but you also don’t take into account the investment options we offer as well as the debt solutions and overall Financial Need Analysis we do for families. In other words, we try to help families get the coverage they need for now, all the while, trying to get them to a place in their lives when they don’t need it anymore. how can you recommend an amount of coverage for a family if you as the agent are not aware of where a family is financially and where they are trying to go? If you want to be transparent with the consumers, why don’t you explain to them how Whole and Universal policies work? Why don’t you tell them just how expensive those policies are per thousand of coverage? Why don’t you explain the “cash value” options in those policies? The devil is surely in the details of those. You say Primerica is spinning the truth, yet you don’t seem to disagree with what we’re saying (A+ rating, quick claims pay, etc). It’s not spin if its the truth. The true value in Primerica is the myriad of things we offer outside of the policy itself. I’m licensed in both Life and Securities and love what I do. If someone is declined coverage with me, I advise them to try another route because protecting their family is most important. Lastly, before I joined Primerica, I spent time with an independent Life company. I saw first hand and heard first hand how they brag about getting one over on a client. I’ve had experience on the “other side” so I’ve seen how both work. For my money, and integrity, I’m staying right here with PRI. We’re not perfect, no company is once you introduce the human element, but our model is legit and respectable.

April 1, 2015 at 11:24 am
    Jeff Root

    BJ,

    Correction. I said you couldn’t convert a Primerica policy. Every term policy will annually renew every year at expiration (at unaffordable rates) – that’s not a benefit unique to Primerica. I love that you guys spin it as guaranteed insurability – nice touch.

    Are you referring to financial experts like Dave Ramsey and Suze Orman? You realize they’re financial entertainers, right? They get paid to say the things they say (Ramsey by Zander Insurance and Orman by SelectQuote). To say that life insurance was NEVER meant to be a permanent need is close minded. Primerica is teaching all agents to think the same way, so I can’t fault you for your beliefs.

    You guys keep talking about whole life and universal life and we sell around 90% of our clients a term policy because it’s in their best interest. Many life insurance companies have much better products and pricing than Primerica term life insurance and we believe in giving the consumer the best policy they can qualify for. And the other 10% need permanent coverage because they have permanent needs. To answer you question, yes we explain everything in the illustration we have our clients sign and they understand everything before placing coverage in force.

    The latest LIMRA stats show over 50% of consumers are purchasing life insurance online and over the phone. The way people want to purchase life insurance is shifting from belly to belly to online. Some want that convenience to just take care of their family and not go through a whole sales pitch for debt solutions and investments. I know because we talk to A LOT of consumers who are searching for Primerica reviews online, find our article and tell us why they didn’t purchase from their Primerica agent. While we offer a full needs analysis to all our clients, many don’t want one. We are serving 2 very different types of consumers.

    April 1, 2015 at 1:19 pm
BJ

Just because someone is paid to say something doesn’t mean they’re lying. I have NEVER walked into a home and had a client completely understand how their policy works. Most are shocked to find their whole life policies, which are usually very minimal amounts of face value, work the way they do. I never said Primerica is a one-size fits all company. I don’t know who you heard say that. You are broad brushing a company based on something you might have heard someone say. We never said we were the cheapest, but that we DO offer competitive rates. We have a target market of people that we attempt to help. Again, you are wrong about what happens at expiration. Check again. I can literally post the information from our company right here if you like. We are not mindless zombies brainwashed by Primerica. That’s pretty insulting. If a person is not interested in analyses, and just want coverage, that’s certainly their choice to do as they desire. If you want numbers, why don’t you look at the number of people who are in loads of debt with no help. Look at the amount of people that are NOT on pace to retire comfortably. We address these things because it is a genuine need that MILLIONS of people are dealing with in this country. when you say “sales pitch” its almost as if you’re devaluing the real need for services like we have. Now, if all they’re interested in is coverage, that’s fine. I’ll give you an example. I sat with a guy who was paying nearly $250/month for life insurance for himself, his wife and his kids. He had it for about a year and hadn’t developed any cash in his “savings.” I was able to give him much more coverage, save him over $100/month and then redirect that extra $100/month into a separate mutual fund investment to help supplement his retirement, all the while not taking a single extra penny out of his wallet. He was happy. Help me understand how that is a bad thing. And no, I didn’t ask him to work with me. By the time his term expires, his mortgage will be finished, his kids will be grown and he will be right at or just past retirement age with a nest egg from his current job and our mutual fund investment. And if anything changes, all he has to do is call me and we make alterations to his plan for no additional fees. Once he gets there, there is either no more need for coverage because his financial responsibilities are minimal, or he can greatly reduce his coverage amount as there will no longer be a need for a large policy. I really question your motives here sir.

April 1, 2015 at 2:33 pm
    Jeff Root

    The fact that you only offer Primerica term life insurance means you’re “1 size fits all”.

    That example you give, I would recommend term as well.

    Look, I don’t think Primerica agents are bad people. We disagree on a lot of things which is fine – it’s good discourse. From what I’ve seen:

    1. Anyone with a Primerica term life insurance policy can do much better.
    2. Anyone using your DebtWatchers program should cancel. That shouldn’t be a monthly fee – it should be a free service.
    3. Anyone with Primerica Mutual Funds should look at no load alternatives. Primerica is extremely limited.

    I don’t see a reason to ever work with a Primerica agent. No offense to you or any of the Primerica agents reading this, but I would never let any of my family or friends keep any of these products. You’re all doing the right thing for your clients, but you’re not doing the “best” thing.

    Here’s a story of an ex Primerica Agent who took 16 years to see the light (FFC in the article is Primerica): link to sites.google.com

    April 1, 2015 at 3:38 pm
JC

Good read

April 14, 2015 at 4:37 pm
Steven

I am glad that I found this. I went yesterday to a Primerica “interview session” and from the start I felt uncomfortable and questioned there methods and what they were trying to sell. Yes I am desperately seeking employment and when they called me I was under the impression that they were interested in me because I am studying accounting and seeking an entry level position to get my career started. Was I in for a surprise. First off the people that were in the session were the absolute most unprofessionally dressed group of people I have ever seen in my entire life. I already felt out of place and was feeling uncomfortable about the whole gimmick. So they go threw the presentation showing you the whole rule of 72 and explaining that there goal is to help middle America become financial stable and competent. Which to someone hearing it for the first time along with all the other information in the session sounds great. Not my first time hearing or learning this so I grew even more weary about the whole thing. After that I met with the agent or recruiter. I handed him my resume and military service record as I would any other interview. He didn’t even look at it. He didn’t seem interested that I have an accounting background and was looking to use my knowledge to the benefit of the company. I knew about the $99 for the state licensing but was not told about the $25 monthly charge. They gave me the impression that they were the best, which is cliche of course, and they will help families get out of debt and prepare financial stability for retirement. I am all for that. But the recruiter just continued to tell me go after people I know and get them on track. Absolutely not. This along with other reviews I’ve seen has given me everything I need to know. I couldn’t agree with you more with people purchasing insurance and doing research online to see what best fits them. I see there pitch is to go after middle America because that’s the target group that really doesn’t have financial education at all. Thank you Jeff for posting all of this. You really saved me a lot of time by not wasting my knowledge and potential on a company of this nature.

May 28, 2015 at 8:20 am
    Jeff Root

    You’re welcome. Best of look finding employment and thank you for your service.

    May 28, 2015 at 10:38 am
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