at a glance
- NerdWallet ranking: No. 18 life insurance company.
- Does not sell permanent life insurance and offers no online term quotes.
- Uses a multilevel marketing structure for sales.
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 ranked No. 18 out of the 20 best life insurance companies as scored by NerdWallet. The rankings are based on financial strength, customer satisfaction scores and consumer complaints. NerdWallet scores the largest national life insurers that sell policies to individuals.
Primerica offers only term life insurance and does not provide life insurance quotes on its website, making it hard to compare its prices with other insurers.
Some insurance experts criticize Primerica for its multilevel marketing structure and lack of life insurance policy choices. 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 complaints and customer satisfaction
Over the last three years, Primerica has drawn fewer complaints to state regulators than expected for a company of its size, according to NerdWallet’s analysis of data from the National Association of Insurance Commissioners.
Primerica ranks among “the rest” — the lowest rating possible — for overall customer satisfaction and policy offerings in research firm J.D. Power’s 2019 U.S. Life Insurance Study. The company ranks “about average” in four categories.
|Customer satisfaction category||Primerica's score|
|Overall satisfaction||Below average|
|Policy offerings||Below average|
|Billing and payment||About average|
More about Primerica
Primerica offers additional financial products and services. Through other insurers, Primerica provides auto, long-term care and homeowners insurance. The company also offers investment accounts and other financial services, as well as prepaid legal and identity theft services provided by other companies.