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Founded in 1977 and headquartered in Duluth, Georgia, Primerica is a financial planning services company that uses an MLM business model to provide term life insurance, investments, auto insurance, home insurance, prepaid legal services, ID theft defense, personalized solutions, and financial education services.

Primerica, whose mission is "to help families earn more income and become properly protected, debt-free, and financially independent," generates $1.34 billion in annual global revenue, insures over 4 million people, and is listed on the New York Stock Exchange.

Potential customers or agents should compare Primerica's MLM business model to the top MLMs in the industry.

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The Good

  • Average Primerica Startup Cost
  • Positive Primerica Reviews
  • The Primerica Compensation Plan
  • Products and Services
  • Financial Needs Analysis
  • Company Reputation

Average Primerica Startup Cost

To become a Primerica agent, there is a one-time fee of $99 and an optional monthly fee of $25. The optional fee provides the agent with training materials. This training includes instruction on life insurance, variable annuities, legal services, mutual funds, and various loans.

DVDs, manuals, and online training modules are used to help agents acquire licensing and operate a successful business. Agents utilize the Primerica app from their smartphones which allows them to receive insurance quotes quickly and fill out applications without using paper.

Positive Primerica Reviews

Though Primerica hasn't received a great number of total customer or insurance agent reviews, the reviews the company has received have been mostly positive.

Many of the reviews are from dedicated customers who eventually become Primerica insurance agents because of their great love for the company. Common descriptors for Primerica from reviews are "life-changing," "fair," "positive energy," "experienced," and "reputable."

Whether you are an insurance agent for Primerica or simply a customer, Primerica seems to care a great deal about those with whom it interacts.

One review points out that Primerica is primarily interested in giving financial services and financial education to those who need it most — the underserved and impoverished. This assertion matches the company's claim to care about the individual.

The Primerica Compensation Plan

Primerica's compensation plan, or commission structure as many call it, is a unilevel pay plan. A unilevel pay plan pays an equal percentage of commissions from downline sales to all qualifying Primerica agents. The Unilevel commission structure and business model is designed to attract recruits by steering away from rank-based commissions and toward recruitment-based commissions.

To earn a bigger commission on sales with Primerica, agents will need to be licensed. As a licensed insurance agent for Primerica, you are considered to be at the Representative level in the pay structure. 

Common advantages of the Unilevel commission structure:

  • Usually easier to start out earning commissions due to a lower personal volume requirement.
  • Easy to explain to new prospects, which makes it a great selling point for potential recruits.
  • No recruitment limits.
  • The more distributors you recruit, the more money you make.
  • Perfect for distributors with a knack for recruiting.

The Primerica Compensation Plan makes it easy for those who want to work part-time to earn money. 

Products and Services

Primerica works to help families invest for the future by teaching financial principles that the company states are not covered in school. These principles include The Rule of 72, Rate of Return, Bypass the Middleman, Dollar-Cost Averaging, and Tax-Deferred Savings.

Primerica also offers a product that helps consumers to understand the information included in an Equifax credit report and develop a simple plan to pay off debt.

Primerica agents are trained by the company in selling term life insurance, which is life insurance that pays in the event of death only during the specified time period.

Families are able to customize their term insurance policy and term length.

Primerica agents and distributors also sell long-term care insurance, which protects individuals and families against the high cost of long-term care. Long-term care insurance helps cover those with medical and non-medical needs who may have disabilities or illnesses that make it impossible for them to take care of themselves. 

Such long-term financial needs can wipe out retirement savings for many people. This insurance is meant to protect the hard-earned savings of those with medical conditions. Customers should be aware that a medical exam will likely be necessary.

Customer reviews reveal that insurance agents from Primerica really seem to care about their clients. This care from insurance agents seems believable because the company has made it their mission to focus on the financial wellness of families and clients.

Financial Needs Analysis

Primerica offers a financial-needs analysis to consumers who are interested in developing a personalized strategy for their unique financial situation.

The process takes about 30 minutes to complete and helps consumers develop a plan for debt elimination, retirement solutions, income protection, and education funding. The analysis also helps consumers figure out how much money they will need to acquire in order to meet all of their financial obligations.

Interested consumers will need to set up an appointment with their local Primerica representative and bring all needed financial documents, which are listed on the company's website.

Company Reputation

Primerica was recently named one of America's 50 Most Trustworthy Financial Companies by Forbes Magazine. Additionally, Primerica's global revenue and overall sales forces have exponentially increased over the past several quarters, according to public statements made by Primerica.

With close to 40 years of experience, it appears that Primerica is a reputable and legitimate multi-level marketing company.

The Bad

  • Inexperienced Agents
  • Questionable Recruitment Tactics
  • Lack of Information on Commissions

Inexperienced Agents

Primerica only sells term life insurance with terms ranging from 10 to 35 years. Additionally, Primerica's agents generally do not have the background and experience that independent life insurance brokers do. Many of Primerica's agents have no previous financial background and have learned almost everything they know about investing have company training.

Questionable Recruitment Tactics

Consumers have reported a "job interview" recruiting ploy used by some Primerica agents to get members to join the business opportunity. Representatives who use this tactic will scroll through job search sites and contact seekers with an interview offer.

Representatives do not disclose anything about the alleged job but tell the candidates that if they have the necessary skills, they will be invited to stay longer for an information session. However, consumers have reported being strongly coerced into signing up as an independent agent during the information session.

Lack of Information on Commissions

The company does not disclose any detailed information on commission percentages or other financial incentives on its corporate website. Additionally, Primerica does not offer any pricing comparisons.

The Bottom Line

Primerica is a financial services company with nearly 40 years of experience in the industry. The company offers term life insurance, investment options, auto and homeowner policies, and prepaid legal services.

The company does not disclose any details regarding specific percentages. Additionally, there have been reports of Primerica agents being inexperienced and using questionable recruitment tactics.

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User Reviews

Star Rating

4.2
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28 Reviews

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Miles Strother
September 30th, 2019 American Fork, UT

Primerica is good for someone who wants to build there own client base selling term life insurance, or for someone who's looking to get cheap life insurance. It's scope of expertise is pretty limited, but it does what it does well.

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Becky Heward
May 16th, 2019 Mesa, AZ DETAILS
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Best agents in the business. They come to your home. Only sell term insurance. Offer all the best financial services and ways to save money.

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Jared
February 1st, 2019 Palo, IA DETAILS
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People are completely hung up on the whole idea of MLM. When you think of it, isn't every company in existence a form of an MLM? There are your CEO's, COO's & all upper-level personnel, middle management, and general workers. It doesn't matter if you sell shoes, tires or insurance...someone further up the food chain is making money off of your skills! People are quick to judge what a company does as a whole based solely on a bad experience they had with one individual within the company. Over fifteen years ago I became a client of Primerica (Citigroup) at the time. They helped protect my family with term life insurance (which is rarely offered by any other insurance companies as they don't stand to make as much money off of the policy) and allow me to set up a Roth IRA to plan for my retirement because the small company I worked for did not offer any kind of 401k or comparable plan. Fast-forward fourteen years. I finally take the plunge to try out my hand at becoming a licensed (federally issued and regulated) agent with the company. I help four out of the first four families I sat down with, not by selling them something they didn't need or trying to recruit them into my hierarchy, but by simply showing them what I had been shown years ago. I have worked for companies where "SELL" was the only word. You close this deal or else! After three months there, barely sleeping at night and being written up for not taking advantage of little old ladies, I moved on to a company where I could let my empathy and compassion shine through and have been ten times more successful there. I sleep well. I know what I'm doing makes a difference. I have been able to do the same thing with Primerica. I can legitimately sit down with an individual or family, come up with an individualized plan, and let them decide if the products we offer are right for them. I don't sell anything...I inform and let them do or buy what they want. I think other our competitors feel intimidated by the way we do business. That we're there for our client's well being, not our pocket books. What other insurance company out there is trying to talk you out of paying high premiums (300 to 400% higher) for policies that you'll "need" for the rest of your life that offer 25% of the coverage ours do? When's the last time you walked into a cell phone retailer to look at the latest smartphone, and after talking to the sales person they point you toward the last remaining flip phone because it's really all you need and it does the job just fine? When's the last time you took your car in for a major repair that "the dealer" said was absolutely needed and left paying less than 25% of that supposed bill because it was something completely different? 99.9% of Primerica reps are there to help you, not hurt you...including me.

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Kerry
October 31st, 2018 DETAILS
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It was interesting reading your "bad". Like many people that work with Primerica, I was a client for 19 years and later, due to the impressive service I had, I chose to work with them. It's scary, because it is 100% commission. They will hire anyone. Their company ideology is to lift people up. If you're willing to work, they're willing to help. If you want a free ride, it's definitely not with Primerica. Those who work and try hard are well compensated. Very well compensated. Which makes it attractive to a lot of people, that try, fail and get bitter. Those that want to float by and get paid...it's not the place for them. They are all given a chance. To work with Primerica I was required to obtain government licenses for life insurance, accident and sickness, and segregated funds and was field trained. To work with securities, I had to have a securities license. The compliance department is very strict. I don't understand the "untrained" part. We all have the same licenses and are required to meet government standards. I find this very interesting as my clients are well served and well informed. Primerica has won service awards, and has a very family feel to it because the company motto is to "always to the right thing for our client". Because of that, Primerica does not sell cash surrender insurance because it goes against the math. Math doesn't lie. I was also noticing that the people that were commenting negatively seemed to be lacking the ability to process well thought out ideas. My guess, is that they were given the chance to work with Primerica, and failed. We see that a lot. You have to be willing to learn the craft, or you won't get clients, and you won't be paid. We have a VP that says, "if you want to work hard, learn and succeed, we will help you...if you want out, I'll show you the door. That's the bottom line.

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John
March 20th, 2018 Hanover, MA DETAILS
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Very Educational, phenomenal product, worked towards my needs, not theirs, customized my plan.

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Mary
January 12th, 2018 DETAILS
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I have been looking at different review sites. Primerica changed my life. I am laborer of 15 years, and i think their products are good. Be careful, there is one reviewer called Toolbelt. I have seem him on almost every site, and he is just trolling odd numbers and weird facts on every site to spam. Anyways, I have been a client for 14 years, and after i saw my investments do better than the ones at the bank I was convinced. I also don't go to a broker because I have known a lot of people who got screwed by private individuals who mess with peoples money like my father who was with a well respected broker who turned out to rip him off on top of all the fees. Also what concerns me, if someone needs to put others down to make themselves look good, I get nervous. Skills and historical evidence should be the factors. And i also notice Toolbelt posts numbers without the links for us to check them. Without footnotes or references to facts that would be an F in school because they can be made up. I even know that as a trade worker All I know is my investments do well, and you can see that through my returns, as I am not going to make up some numbers and troll the internet. All their funds are AGF/Mackenzie managed etc, Primerica just brings it to the people who need money skills the most, and the big guys seem to like to get real nasty about it sometimes. I don't do business with anyone who talks bad about others behind their backs. If they can say that, what else are they capable of?

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Emmanuel
January 8th, 2018 Hayward, CA

Company gives everyone a chance to learn, get free class and pay for first year license to start and grow, also coach agents to build and own what they build. Company don't lay off people but whom couldn't grow will eliminated by themselves. I find Primerica is the best, fairest, full of positive energy to help families understand and fight for their finance future.

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Matthew
October 11th, 2017

They had some serious problems answering basic questions, then blocked me from communications.

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TJ Champman
August 14th, 2017

Primerica Representatives are very experience in term of financial education, planning and coaching are absolutely amazing! They treat us like the VIP customer even we have not much to invest. The education on how to get out of debt, income protection and investment is really really good. All services are complimentary. The financial need analysis my Primerica representative offer is very detailing and the best part, they can implement that for me and my wife at the comfortable of my own home. I will recommend this great company to everyone!

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Joe Atinsky
July 17th, 2017

Many say they "tried" Primerica. However, many of the naysayers either never obtained their license, or gave up after a short period. Honest business opportunity for those willing to work hard helping others to earn more, become debt free, and financially independent. As of 7/14/17 over 39 months of consecutive growth. Not for everyone, and everyone won't qualify, but accessible by anyone willing to work hard. Company sponsors licenses, provides mentoring, and training, and works to maintain a high QBI.

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Roberta Crawford
July 11th, 2017 Alexandria, VA

The services provided by Primerica Representatives was outstanding. The Rep was knowledgeable & the partnering companies was like going to Walmart or Amazon to receive financial help. I am set on clear path for financial success.

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Shane Myers
July 5th, 2017 Zachary, LA

yes, there tends to be lots of pressure created between family member or close friends when it comes to Inexperienced Agents . Most new Primerica reps are told by their upline to start with their Hot Marketing. And here in lies the tension that can be created. Sometimes Hot market is not a viable or REAL prospect. I feel these new reps are better off just working in cold market first and growing their business that way. Great article.

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Andy Martinez
March 28th, 2017

Great company to build future, been prepare is a success!

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James Bencin
March 24th, 2017 Palm Beach Gardens, FL

They educate you on the good and bad of the financial services industry and after you know whats really going on, you can decide for yourself how to protect your family and invest for your retirement.

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Vic Calloway
March 13th, 2017 Alexandria, VA

Very reputable company. I'e been with the company for over 10 years & I'm committed to helping my clients improve their financial situation. The products are among the best in the industries. I've heard all the accusation of pushy & miss leading agents. There are good & bad apples in every industry. Primerica goes to great lengths to be in compliance of the laws & ethically above approach. I feel its the #1 company to generate a additional income stream of passive income.

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Donna Latteri
March 7th, 2017

Best products on market. Education top notch, never pay! Always there when I need them, providing best financial solutions, not just selling products. Exposing dirty secrets of the financial industry.

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Sara R
February 10th, 2017

This company is outstanding, after being a client I joined Primerica not because I was tricked because it over delivered. This company changes people's lives. Doing the right thing for families 100% of the time.Correct the injustice in the Financial Industries. My advise don't let the Naysayers ruin your opportunity to fulfill your dreams and goals.

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James Russo
December 20th, 2016 Houston, TX

This is the REAL deal. Believe in YOUR dream. Do it Right and Do It Big. God first, Family second, Business third. Training is across the kitchen table with real people, not in meetings on a "future" sale. By recruiting friends who are respected by their community who have families, homes, jobs and in the right market 25-55, one can possibly build their business much like real estate brokers do and override their downline, legitimately. Take the opportunity to see for yourself. If it feels right go for it. If not at least you got financial training found nowhere else...and on the right track towards protection and financial freedom!

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Kinga Pippa
November 21st, 2016

Primerica agents are trained to steal clients from other companies. The way they do it is they hang near the office of the competitor and wait for new clients to come. They approach them and say that this office had been raided because they do illegal stuff so here is my card come see our office we are so much better and blah blah blah, Plus they are so much limited in products so end up pushing same thing over again regardless of clients needs. We had to cancel their clients products every time and replace with smth more suitable based on clients situation. They will never be able to act as a fiduciary. Cant wait for this law to take place.

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Stacy Towle
November 14th, 2016

I've been with the company part time for over 10 years. They do the right things for middle income America. We may not have all the answers but we know where to go to get them-we are not taught simple financial principles in school so to have a company of representatives to share this info with people they care about, I believe is a good thing. Primerica has been around a long time and isn't going anywhere anytime soon!!

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Heather
November 14th, 2016 Columbus, OH

I am not just a client of Primerica but I also saw it work for a close friend of mine when she passed away. After referring my family and friends to my Primerica agent I have seen for myself and for them how it has changed their lives. I know there is some ridicule about allowing people without a financial background into the company, but my encounter is that they are very well trained. If Primerica did not allow the "average Joe" an opportunity to work in financial services who would have ever helped me, my friends and my family? We don't come from money and we were not taught how to make our money work for us. So if the average Joe isn't given a chance by Primerica then the average family is doomed to a life of financial mismanagement. I am grateful for the company and it's good agents.

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Katherine
September 26th, 2016 Roswell, GA

Great client services and best compensation plan with ownership opportunity!

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Concerned consumer
September 13th, 2016 Brooklyn, NY

Expensive term insurance and after pressuring to be recruited and paying $99 they started charging $25 a month.. I wonder who I was supporting with my money.

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Mike
September 12th, 2016 Meridian, ID

I met a Primerica agent though a friend of a friend because I was shopping for life insurance for my wife and I and 4 kids. My goal was protection until I was retired at 65 years old. The Primerica agent was so confident that Primerica Life Insurance was better than any other company out there that after he explained the benefits of their Life Insurance to me he gave me his own policy and asked me to take it and shop around and ask agents from other companies to pick apart his policy and explain why their life insurance was better. I explained my goal to agents at 10 other mainstream popular life insurance companies, and after showing all of them the Primerica Policy, they all said the problem with it was there was no investment portion. However, each time, after much discussion I discovered I would not even get to keep my investment portion with them because the company would only pay out the difference of my investment and my insurance. So if we had a $100,000 policy with them, with $50,000 saved when one of us passed away, the company would only pay out $50,000 from their pocket and the other $50,000 would come from the savings. The Primerica policy was 6x cheaper for 3x the coverage to 65 years old. So I could have $300,000 with Primerica OR pay 6x higher premium to have $100,000 with the other companies. I could take the money I would save going with Primerica and have $50,000 in 17 years if I didn't earn any interest, but if one of us died we would get $300,000 and still have our $50,000 saved. Why would I go with the other company??? The other companies then tried to sell me their term insurance and it was sometimes a little cheaper premium than Primerica. However after comparing apples to apples, they could not match the benefits of the Primerica policy I had in front of me. First off, most of the companies required separate policies. Primerica does 1 policy for the entire family. Primerica can cover all 4 of my kids for the same price as just 1 kid or even 10 kids. The other companies charged an additional premium for each child after the first 2. Not only that, each of my kids were guaranteed a policy of their own when they turned 18 without proving they were healthy and it would be for up to 5x the coverage they had on our family policy and they would have all the same benefits that our policy had. With Primerica we could increase our coverage 10% every year for the first 10 years to have twice the coverage in 10 years if we needed it and we would get the new coverage at the price we would have gotten when we initially took out our policy, not our new ages. Also, if one of us grew terminally ill, we could use a portion of our life insurance while we were still alive to help pay for medical expenses or whatever we wanted to use it for and then get the rest when we actually passed away no matter when it happened. If for some reason we needed some life insurance at 65 when my policy was up, with the other companies, 1) We could renew my policy at a standard insurance class regardless of whether I was Preferred Plus before but the new policy would be at my new age cost and a standard rate, not preferred plus. Some weren't even sure if we would be guaranteed insurable for a renewal. 2) We could convert my policy and be guaranteed insurable to the investment kind which I already knew was more expensive for less coverage so would be HUGELY more expensive at 65. 3) We could apply for a new policy and prove we were still healthy enough to get insurance which is a lot less likely at that age. With Primerica we were guaranteed insurable no matter if we had gotten cancer or anything and 1) If we got Preferred Plus, we were guaranteed Preferred Plus for life even at renewal which meant renewing at 65 would be far cheaper than other companies. 2) We were guaranteed insurable and preferred plus (like before) and we could exchange our term policy for as much coverage as our old premium would buy (which I calculated to be about 35% of the coverage of the previous one) for another term policy and keep paying the same premium we were before. So if we had $300,000, we would be able to exchange it for another term policy of $105,000 and keep paying the same premium, if that wasn't enough coverage we could double it and pay double the premium. The new coverage would be level decreasing term to age 100, so we would have coverage to age 100 if we needed it and no extra cost. 3) Just like other companies we could apply for coverage at our new age and prove our health just like the other companies but there would be no reason to do this with the other two options Primerica offers. Needless to say there WAS ABSOLUTELY NO REASON to go with any of the 10 other companies. Not only that Primerica could put together an entire plan to get us out of debt as quickly as possible and start saving as much as we could for retirement. Every company should do business like Primerica. A+++++.

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Bryan Hudson
April 15th, 2016 Charlotte, NC

I contract with PFSI Inc and find it to be the most customer minded investment company available to work for. I've worked with another well known insurance company and ended up leaving them because of what I was taught to sell. PFSI aims to assist clients that other insurance and investment companies ignore and our S&P ticker shows our performance and the trust that other groups have in joining us to teach the main Street families.

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Pat
April 6th, 2016 New Wilmington, PA

This company is outstanding, after being a client I joined Primerica not because I was coersed but because the business model makes sense. So glad I didn't listen to people who are lazy and want to complain all the time. This company changes people's lives. Doing the right thing for families 100% of the time. Not sure about the negative comments but maybe its just a few bad apples in the bunch. 147 complaints against agents out of over 100,000 agents, thats less than 1%. All these issue and complaints would have been resolved without complaint if they would have just called home office or followed intructions from their financial coach.

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Travis Mathes
January 27th, 2016 San Angelo, TX

This company helped me become and remain debt free. My local agent is always immediately available to answer any questions, and everyone I know who's filed claims on their insurance policies, had those claims paid almost immediately. It's all about finding a good agent. Report shady agents to the company and they will desend on them like a hawk. Primerica prides itself on their values.

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toolbelt
December 17th, 2015

with an effective salesforce turnover rate of 67% (35% licensed reps/84%recruits) annually, and term rates 67-107% higher in most cases, I don't see why anyone would call them a bad company. That would be too kind!

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