Ashlyn Brooks is a finance writer with more than half a decade of experience, known for her knowledge in areas such as taxes, insurance, investing, retirement, finance news, and banking products.
Tony Steuer, CLU, LA, CPFFE is an internationally recognized financial preparedness advocate, podcaster, and award-winning author. Tony developed the Get Ready Movement to empower and educate people on all areas of personal finance.
Tony Steuer, CLU, LA, CPFFE is an internationally recognized financial preparedness advocate, podcaster, and award-winning author. Tony developed the Get Ready Movement to empower and educate people on all areas of personal finance.
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At a glance
2.9
Rating: 2.9 stars out of 5
Bankrate Score
Score breakdown
Life
Rating: 2.9 stars out of 5
2.9
Cost & ratings
Rating: 3.8 stars out of 5
3.8
Coverage
Rating: 1.8 stars out of 5
1.8
Support
Rating: 3.5 stars out of 5
3.5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
About Bankrate Score
Bankrate's take
Primerica could be a good choice if you’re looking for a variety of term life insurance options, but the company does not offer any permanent coverage policies.
Focuses exclusively on term life insurance with TermNow (no-medical-exam) and fully underwritten Custom Advantage
Holds an A+ (Superior) rating from AM Best
Guaranteed insurability allows policyholders to renew up to age 95
No online quotes; customers must contact a representative for pricing
Uses a representative-based model, which may limit purchasing flexibility
Primerica life insurance
Primerica’s life insurance coverage focuses exclusively on one coverage type: term life. Primerica won't be an option if you are looking for another type of coverage, like whole life or universal life. However, Primerica could be worth looking into if you’re shopping for a term life insurance company. Policies are underwritten either by the Primerica Life Insurance Company or by the National Benefit Life Insurance Company (if you live in New York).
Term: A term life insurance policy offers coverage for a specific period of time, typically between five and 30 years. Unlike whole life options, which can last a lifetime and guarantee death benefits as long as premiums are paid, term life coverage will end after the specified period unless it is renewed. Because Primerica does not offer permanent life insurance, there aren’t any conversion options on their term policies. Primerica does offer two types of term life policies, with terms up to 35 years:
TermNow: This policy is Primerica’s no-medical-exam option, with coverage up to $300,000.
Custom Advantage: This option requires a medical exam but has a larger potential death benefit.
After settling on how much coverage you need, Primerica’s term life insurance policies offer fixed rates throughout the policy’s initial term period. Customers also have guaranteed insurability until age 95. You initially have to meet underwriting guidelines, but once you have a policy, you have the ability to renew the term up to age 95, although the new rate will depend on your new age. This is not the same as guaranteed-issue insurance, but it does allow you to continue your policy for a significant length of time.
No Primerica life insurance review would be complete without mentioning its representatives-based sales structure. While Primerica notes that it does not use a multi-level marketing (MLM) model, it does sell policies through independently contracted agents — not employees — who are compensated based on their own commissions and the “downline” commissions of agents they recruit. Some customers may find Primerica’s sales approach off-putting, but the company is still an accredited life insurance company with a strong AM Best financial strength rating.
Pros and cons of Primerica life insurance
When conducting your Primerica review, it’s helpful to weigh the benefits and drawbacks before making a decision. Below are some of the key pros and cons of the company.
Pros
No-medical-exam option for term coverage
A+ (Superior) financial strength rating from AM Best
Strong social responsibility programs
Cons
Only sells term life insurance
Uses a representative-based business model to recruit new agents and sell policies
Low coverage limits with all policy types
Primerica life insurance riders
Primerica does not share its full list of riders available for its term life insurance, but you may learn more information by contacting an agent or customer service representative. For those unfamiliar with riders, they are additional policy features or options that can be added to a standard life insurance policy to tailor it to your needs. Riders can offer extra benefits like accidental death coverage, waiver of premium due to disability or child life insurance coverage, providing a more comprehensive and personalized policy.
Primerica customer satisfaction
When considering Primerica's customer satisfaction ratings, it's important to consult reputable third-party assessments like J.D. Power and AM Best. J.D. Power measures customer satisfaction across key areas such as policy offerings, pricing and claims handling, providing a comprehensive view of how insurers meet customer needs. In the 2023 U.S. Individual Life Insurance Study, Primerica scored 784 out of 1,000, falling below the industry average of 790. However, Primerica holds an A+ (Superior) rating from AM Best, reflecting its strong financial stability and historical ability to meet financial obligations. These ratings suggest that while Primerica may not excel in customer satisfaction compared to some competitors, its financial strength is reassuring for those seeking reliable coverage.
Primerica insurance customer complaints
Bankrate evaluated Primerica’s complaint index from the National Association of Insurance Commissioners (NAIC). The NAIC tracks the number of complaints filed by an insurance provider’s customers and calculates the carrier's complaint index based on its market share. The NAIC uses 1.0 as its baseline index. A complaint index higher than 1.0 indicates that an insurance provider receives more complaints than expected for a company of its size and vice versa.
Primerica’s NAIC complaint index contradicts its low J.D. Power score. Over the last three years, Primerica’s complaint index has remained below baseline. This implies that Primerica policyholders are filing relatively few formal complaints for the company's life insurance product.
NAIC Complaint Index life insurance product
Line chart with 3 data points.
The chart has 1 X axis displaying Year. Data ranges from 2021-01-01 00:00:00 to 2023-01-01 00:00:00.
The chart has 1 Y axis displaying Score. Data ranges from 0.44 to 0.51.
End of interactive chart.
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This advertising widget is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Finding the best life insurance company for your needs likely involves researching and comparing quotes and products. It's a good idea to check with multiple insurance companies if you have any health issues. Insurance companies each have their own underwriting criteria and can vary significantly on how they price specific health conditions. Whether you’re looking for the cheapest life insurance or a specific rider, it’s important to recognize when a carrier might not meet your needs. If you’re not convinced that Primerica is the right choice or want other options for comparison, here are some alternatives.
Primerica vs. State Farm
In addition to winning a 2024 Bankrate Award for Best Term Life Insurance, State Farm also offers whole life and universal life, including joint universal life coverage, which might be a good option for a family life insurance policy. Its many options make it easy for individuals and families to choose what kind of life insurance they want.
In addition to term life insurance, Prudential offers an assortment of permanent coverage options. They also offer an impressive array of riders to help you personalize your coverage to your needs.
If you like that Primerica offers other financial products in addition to life insurance, Mutual of Omaha could be a good alternative. The company offers annuities and investments, several life insurance products, a number of health insurance products and financial planning services.
The insurance market can be complicated, but Bankrate's insurance editorial team used our unique perspective to bring readers the information they need to make educated decisions when shopping for a policy.
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Is Primerica a good insurance company?
Bankrate’s Primerica life insurance review could help you decide if the company is right for your situation. Our editorial team analyzed more than 50 insurance companies to see which ones offer the best financial strength, customer service, policy coverage, riders and more.
Primerica, founded in 1977, sells term life insurance in all 50 states and Washington, D.C., and could be well-suited for customers wanting to work with local agents. However, the company’s narrow product line — it only sells term coverage along with a few other financial products — means customers have fewer options to tailor their policy to their needs. The company has a no-medical-exam option, but prospective policyholders will still have to meet underwriting guidelines to qualify for coverage.
What are real-life customers saying about Primerica?
To gain a more personal perspective on Primerica, we explored feedback from real customers on platforms like Trustpilot and Reddit. While Trustpilot and Reddit are not dedicated review sites, they offer spaces where users discuss their direct experiences with insurance companies, sharing insights about the sign-up process, customer service, claims handling and more. This feedback offers a glimpse into how Primerica interacts with its customers and provides its services, helping prospective policyholders understand what they can expect when choosing Primerica for their life insurance needs.
Trustpilot reviews
Trustpilot User 1*
Aug 5, 2023
Been clients of Primerica for 32 years...
“Been clients of Primerica for 32 years now. There’s great comfort in dealing with such a highly regarded company that, through our own experience, also provides great customer service. We recently canceled our insurance through them as they’ve helped get our investments to a place where we just don’t need it anymore. Trustworthy and reliable, Primerica really cares about our family and our financial goals.”
*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.
Reddit reviews
Reddit forums discussing Primerica often feature a common mix of opinions, with some users claiming the company operates as a multi-level marketing (MLM) scheme. Critics argue that its recruitment-focused business model resembles a scam. However, other users defend Primerica, sharing positive experiences and emphasizing that the company provides legitimate services and financial products. This range of opinions reflects the varied perspectives held by those who have interacted with or held policies with Primerica.
Primerica company details
If you are looking to get in contact with Primerica, here are a few ways:
Primerica term life insurance policies are available in all 50 states and Washington, D.C.
Primerica tools and benefits
Primerica also offers the following types of insurance coverage and other financial products:
Mutual funds: Offers a variety of mutual funds to help families save and invest for both short-term and long-term financial goals.
Managed accounts: Provides managed investment accounts to give families professional management for their savings.
Annuities: Offers annuities to provide a stable income stream for retirement.
529 educational savings plans: Enables families to save for their children's education through tax-advantaged 529 plans.
Business retirement plans: Helps small business owners and their employees plan for retirement with tailored business retirement plans.
Mortgage products: Partners with Rocket Mortgage and Spring EQ to offer conventional, FHA, jumbo, VA, YOURgage and home equity loans and lines.
Auto and home insurance referral program: Refers customers to Answer Financial Inc. to find competitive rate quotes for auto and home insurance.*
Identity protection: Offers IDTheftDefense through Pre-Paid Legal Services, Inc. to monitor, counsel and restore personal and financial accounts in the event of identity theft.
Financial education and planning: Provides comprehensive financial assessment and planning to guide families in taking control of debt and achieving their financial goals.
*Answer Financial Inc. in turn uses licensed affiliated companies to underwrite its products.
Frequently asked questions about Primerica
Primerica publishes an annual Corporate Sustainability Report showcasing how it has performed across several categories in the past year. The 2023 report includes breakdowns of the company’s social, environmental and governance initiatives. The company puts particular focus on helping middle-class consumers create financial plans and understand their money needs. Primerica also has a financial literacy publication called How Money Works to help its customers gain more confidence with their finances.
In terms of social initiatives, Primerica requires diversity, equity, inclusion and belonging (DEIB) training for all its employees. Additionally, the company is working with a third party to expand its research into gender and ethnicity pay gaps. Finally, when it comes to environmental programs, Primerica has started recycling initiatives, energy-use programs and alternative transportation offerings to its employees.
Beneficiaries of Primerica life insurance policies can file a claim by contacting the agent of record on the term life insurance policy, calling the claims number at 1-888-893-9858 or by emailing the Primerica claims email at us_lifeclaims@primerica.com.
Exact life insurance rates from Primerica are not available online. However, your coverage limit, age, job, health and lifestyle can all affect your premium. Generally speaking, term life insurance policies (the only kind offered by Primerica) are cheaper life insurance options than permanent policies.
Yes; Primerica is a legitimate life insurance company. Although its multi-level-marketing approach to selling policies may raise potential customers’ eyebrows, Primerica is a well-established company that boasts high financial strength ratings from Moody’s, S&P and AM Best. However, whether Primerica is a good company will depend entirely on your life insurance needs. Primerica brands itself as a company for “Main Street families” by “Main Street families,” and its product list may not be well-suited for high-net-worth individuals looking for more involved life insurance policies. However, middle-income individuals looking for a straightforward term life insurance policy might find what they want with Primerica.
At Bankrate, we strive to provide comprehensive reviews across a variety of insurance companies. However, assigning a Bankrate Score to every insurer isn't always feasible. Some companies, like Primerica, work with multiple third parties to underwrite their policies, which means the quality and pricing can vary depending on the individual underwriting company. Additionally, life insurance rates are highly individual, making it difficult to broadly determine affordability and value for a uniform rating system. Because of this, some companies do not receive a Bankrate Score. Consumers should investigate the specific policies and insurers to match their unique needs and circumstances to find the best fit.
Ashlyn Brooks is a finance writer with more than half a decade of experience, known for her knowledge in areas such as taxes, insurance, investing, retirement, finance news, and banking products.
Tony Steuer, CLU, LA, CPFFE is an internationally recognized financial preparedness advocate, podcaster, and award-winning author. Tony developed the Get Ready Movement to empower and educate people on all areas of personal finance.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Editorial Independence
Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict
editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
Insurance Disclosure
This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
