Looking for Primerica life insurance? While they’ve been around for decades, their policies rarely offer the best value, especially when compared to top-tier competitors.
In this review, we’ll explain exactly how Primerica’s life insurance products and underwriting compare to those of other companies.
Is Primerica a Legit Life Insurance Company?
Yes, Primerica Life Insurance Company is a genuine, licensed insurance provider. Founded in 1977 and based in Duluth, Georgia, Primerica has millions of active life insurance policies.
But being legit doesn’t mean they’re the best.
Unlike most companies that sell through licensed brokers or direct-to-consumer platforms, Primerica uses a multi-level marketing (MLM) sales model.
Their core pitch is “Buy Term and Invest the Difference,” a sound idea in theory. But that only works if the term policy is competitively priced, and Primerica isn’t.
Primerica Financial Strength
Primerica is financially stable. Their ratings include:
- AM Best: A+ (Superior)
- Moody’s: A1
- S&P: AA-
These rankings show that Primerica can meet its obligations and pay claims. So while financial stability isn’t the issue, product value is.
Primerica Term Life Insurance
Primerica offers two term life insurance options:
PowerTerm – No Medical Exam
PowerTerm is a no-medical-exam option:
- Coverage up to $300,000
- Accelerated underwriting with no paramed exam
- Term lengths from 10 – 35 years
- Rate classes – Select, Non-Tobacco, Tobacco
If you qualify, approval can happen within minutes. But even their fastest product falls short. Coverage maxes out at $300,000, and rates are significantly higher than similar no-exam policies from competitors like SBLI, Pacific Life, and Protective.
PrecisionTerm
The PrecisionTerm product requires full underwriting.
- Coverage amounts from $150,000 to $9 million+
- Underwriting requires a paramed exam
- Term Lengths available include 10, 15,20,25,30, and 35 years.
- Rate classes – Preferred Plus, Preferred, Non-Tobacco, Tobacco.
This policy allows for more customization and higher face amounts, but again, pricing isn’t competitive as Banner Life, Prudential, or Lincoln Financial Group.
PowerTerm vs. PrecisionTerm: What’s the Difference?
PowerTerm is faster and easier to get, but you’re capped at $300,000 and may pay more. It targets quick decisions, but relies heavily on data pulls to determine eligibility.
PrecisionTerm offers larger face amounts and slightly better pricing. However, you’ll need to complete a full medical exam, and qualifying for Preferred or Preferred Plus rates is tough.
Riders and Optional Features
Primerica does offer a few policy riders, including:
- Child Rider – Up to $50,000 is available
- Waiver of premium if you become disabled.
- Terminal illness accelerates 40-70% of death benefit if you are terminally ill.
- Increasing benefit rider (IBR) boosts coverage by 10% annually for 10 years.
The IBR is one of the more interesting features, but it rarely offsets the higher cost of the base policy.
Underwriting Guidelines
Primerica general underwriting guidelines include:
| Criteria | Details |
|---|---|
| Height/Weight Charts | Primerica uses BMI guidelines |
| Marijuana Use | Occasional, less than 1x per week = best rates |
| Accelerated Underwriting | Available for face amounts between $150,000 – $749,999 |
| Tobacco | No tobacco use in the past 5 years for the best rates |
There is nothing unique or special about Primerica underwriting. If you use marijuana, Corebridge Financial is the best company available.
How to Buy Primerica Life Insurance
You can’t get a Primerica quote online. You must meet with one of their reps in person or over the phone.
This approach may work for some people, but most shoppers today want convenience, transparency, and comparison, all of which Primerica makes difficult.
You also can’t run competitive quotes against other insurers unless you work with an independent broker. That’s by design.
Customer Service and Online Access
Primerica offers customer support via:
- Phone: 800-257-4725
- Its Website
FAQ
No, Primerica is a legitimate company. However, it employs a multi-level marketing structure that prioritizes recruiting over expert guidance, which may not serve insurance buyers well.
No, Primerica only sells term life insurance.
No. Policies must be purchased through one of their representatives.
Not on price, features, or flexibility. Better policies are widely available.
Unlikely. Companies like Prudential, Pacific Life, and Lincoln are better choices for people with pre-existing conditions.
Final Thoughts
Primerica may be a household name, but that doesn’t make it a smart buy.
If you’re serious about protecting your family, you deserve a policy that offers more value, flexibility, and better rates.
We help clients compare top-rated life insurance companies, many of which offer lower pricing and stronger features than Primerica.
Get your free quote today. No pressure. Just straight answers from an independent broker who works for you, not a multi-level sales network.
Primerica targets middle-class Americans with its products and services.
From a life insurance standpoint, better products and pricing exist elsewhere.
