Are you thinking of venturing into any life insurance company and have chosen Primerica as an option? Still having some doubts regarding Primerica Life Insurance? This article got you covered.
Primerica is a life insurance company that offers various products like mutual funds, disability insurance, stipends, and other financial services.
Becoming a Primerica customer, you will have to contact any of their representatives to acquire a policy. The policies have different lengths ranging from 10 years to 35 years.
About Primerica?
Primerica is a financial service company that provides various products and services to assist both families and individuals to make progress in their financial capacity. Primerica was founded by Arthur L. Williams Jr. in 1977, aiming at providing financial services to customers in North America.
Customers of Primerica are allowed to buy term life insurance from the company through any of their agents. The information of these agents is provided on their website. The Primerica life insurance agent helps their customer complete their application.
During this process, if you wish to acquire a quote from Primerica, you will have to provide certain information about yourself which include your address, date of birth, gender, and health situation. At times, you might be asked to provide your driver’s license and security number depending on the insurance policy.
Primerica Review
In this Primerica review, there are several things you need to consider before engaging yourself with Primerica
Offering Products
Primerica offers various products like mutual funds, disability insurance, stipends, and other financial services. Primarily, Primerica services are focused on life insurance and financial products to average families and the relevance of protecting and planning finance for future purposes.
Apart from the life insurance policies, Primerica also offers other products like retirement accounts, annuities, and mutual funds to assist customers to attain their financial goals. If you want to complete your Primerica application to get a quote, you can contact a Primerica life insurance agent in your state via phone call or email.
Life Insurance Policy
The Life insurance policy is seen to be the primary product offered by Primerica. The company provide life insurance policies and coverage ranging from $300,00 to about $5 million for their customers. These policies vary, each is comprised of about 10 to 35 years of term lengths. This coverage covers from 10 to the age of 95.
Primerica has made the life insurance policy so affordable that middle-income families can access it. This product also allows customers to select their preferred amount of coverage that fits you
Investment Products
Another product offered by Primerica is the offering of investment products. They are various investment products on Primerica which includes retirement accounts, mutual funds, and annuities. These products help their customer to gain their goals financially.
Fees and Commissions
The fees and commissions on Primerica depends on the product or service offered. Nevertheless, the life insurance policies of Primerica have a lower fee compared to other insurance companies. These offers have made it affordable for average people to afford their offers.
The Primerica agents are given rewarded with commissions for any product they sell to customers. These at times drive them to sell the higher product because it will give them higher commissions instead of providing products that suit the customer’s desires.
Primerica Pros and Cons
Before we move further, let’s check out some Pros and Cons of Primerica life insurance.
Pros of Primerica
- Offers Different Products and Services: Customers of Primerica are given access to enjoy various financial products and services offered by Primerica which include debt merging, life insurance, and investments.
- 35 years term Length: unlike other insurance company that offers no more than 30 years term, Primerica offers 35 years coverage term to their customers. This feature gives it top-notch over other insurance companies.
- Offers two term life insurance: Primerica offers two policy options which are the TermNow and the Custom Advantage with a coverage of up to $300,000 and $5Million respectively.
- Existed for More than 40 years: Primerica insurance company has been in existence for more than 40 years. Since its establishment, it has been offering a lot of insurance services to its customers.
Cons of Primerica
- No Lifetime Insurance Policy: Primerica doesn’t offer a life insurance policy. They offer a maximum of 35 years insurance policy to their customers.
- Online Quote Absence: Primerica has failed to provide their customers with the opportunity to see the pricing of its products and services online like other insurance companies.
- Increasing Negative Customer Complain: They are various bad reviews regarding Primerica. While I was Making my research on Primerica, I saw so many bad Primerica reviews.
- Provocative business modes: Primerica uses Multilevel Marketing (MLM) means of operating which has to scare potential customers away from doing business with them.
- Offers Limited Products: Primerica focuses on offering only life insurance financial services which will be unfavorable to customers who want to explore more financial services.
Customers Primerica Reviews
Customers on Primerica have different reviews. Most customers give Primerica a thumbs up for their good and credible jobs, while on the other side, many customers have also gone as far as criticizing the company for being a scam, charging them monthly for nothing.
I came across a customer of Primerica who complained that they just keep taking money without the customer’s permission and putting them in debt, he even contacted them that the plan he is charged was not what he agreed to and they refused to get them cancelled. He went further to tag them as SCAM ARTISTS.
Despite coming across so many negative Primerica reviews, I also saw many positive reviews made by customers. This is to show you that there are mixed reviews on Primerica which means different persons have a different experiences with Primerica.
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Is Primerica Legit?
Primerica has so many bad reviews which definitely means Primerica is likely not to be a legit insurance company. Nevertheless, you can just give them a try to see what they’ve got to offer. Am giving this opinion because I found out that some persons had positive experiences with Primerica while others had negative experiences. Yours might be positive.
Final Verdict – Primerica Reviews
Primerica is a financial service company that has been in existence for over 40 years and have provided various products and services to assist both families and individuals to make progress in their financial capacity and the importance of financial insurance for future purpose.
The company provide life insurance policies and coverage ranging from $300,00 to about $5 million for their customers. These policies vary, each is comprised of about 10 to 35 years of term lengths. This coverage covers from 10 to the age of 95. Primerica will serve you depending on the needs and preferences you require from them.
I believe this Primerica Reviews was helpful to you. Thanks for visiting this blog.