Primerica Life Insurance
- Rated 4 stars out of 5 by NerdWallet.
- Uses a multilevel marketing structure for sales.
- Does not offer online quotes.
Primerica recruits people to sell its policies, encouraging these new insurance agents to start by selling to family members, friends and co-workers and recruiting them to join the business. Primerica agents also make money based on sales by agents they recruit, which is known as multilevel marketing.
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Primerica life insurance
Primerica earned 4 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account consumer experience, complaint data from the National Association of Insurance Commissioners and financial strength ratings.
» MORE: Best life insurance companies
Primerica life insurance pros and cons
| Pros | Cons |
|---|---|
| Drew fewer life insurance complaints to state regulators than expected for a company of its size. | Ranks low on J.D. Power’s 2021 customer satisfaction study for life insurance. |
| Website doesn’t have a lot of detailed information about its term life insurance product. |
Primerica life insurance policies
Primerica sells term life insurance policies but does not provide life insurance quotes on its website, making it hard to compare its prices with other insurers.
Available options include a terminal illness rider — often referred to as an accelerated death benefit — that allows you to withdraw up to 70% of the death benefit early if you’re diagnosed with a terminal illness.
Primerica uses a multilevel marketing structure. Its agents are not employees, but rather independent contractors. For context, most other life insurance companies sell their products through full-time agents who make a career in life insurance sales.
Because of Primerica’s sales strategy, you may find friends or family members pitching the products. Your personal connection with these salespeople could create extra pressure to buy from Primerica, and perhaps pressure later to become a part-time Primerica agent. But it’s always a good idea to compare options and prices from several companies before committing to a personal finance product.
Primerica customer complaints and satisfaction
Over three years, Primerica has drawn fewer complaints to state regulators than expected for a company of its size, according to a NerdWallet analysis of data from the National Association of Insurance Commissioners.
Additionally, Primerica ranked No. 18 out of 21 companies in J.D. Power’s 2021 U.S. Life Insurance Study for overall customer satisfaction.
More about Primerica life insurance
Primerica sells additional financial products and services, such as auto and homeowners insurance, through its partners. The company also offers investment accounts and other financial services, as well as prepaid legal and identity theft services provided by other companies.
Life insurance buying guide
Before you start comparing companies, choose the type of life insurance you want, such as term or whole life. Decide which life insurance riders, if any, you want the policy to include. Calculate how much life insurance you need and how long you want the coverage to last. Check that the insurers you’re considering offer the coverage you’re looking for.
When comparing rates, be sure the quotes are for the same amount of coverage over the same period of time. It’s also important to make sure the policy’s medical requirements match your needs. For example, if you want to skip the life insurance medical exam but don’t mind answering health questions, confirm that the application process for each policy you're comparing aligns with that.
Price may not be the biggest driver behind your decision to buy. Look at the number of consumer complaints each company receives, as high numbers can be a red flag about the quality of service.
For more guidance, see our life insurance buying guide.
Life insurance ratings methodology
NerdWallet’s life insurance ratings are based on consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims. Within the consumer experience category, we consider ease of communication and website transparency, which looks at the depth of policy details available online. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
