Primerica Life Insurance Review

Life Insurance With Smart Money Management Ideas

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overall rating

Our Take

Primerica Life offers term life insurance for customers who want to buy term coverage and invest their savings.

Based on our review of more than two dozen life insurance companies, Primerica Life Insurance was not one of the best companies we found. To see other options that may be better, visit our list of the best life insurance companies.

  • Pros and Cons
  • Key Takeaways
  • Specifications
Pros and Cons
  • Large network of local licensed agents

  • The company follows up on any customer complaints

  • Multiple riders available to help provide flexible coverage

  • Cancel your policy whenever you want

  • Coverage is reportedly more expensive than competitors

  • Complaints about misrepresentations of company products

  • Only term life is available

  • Maximum policy size is $400,000

Key Takeaways
  • Primerica focuses on selling term insurance and educating consumers about saving.  
  • Term insurance can be cancelled at any time.
  • An increasing benefit rider helps you buy more insurance without undergoing further underwriting. 
  • A child rider gives kids minimum coverage with the option to get five times the amount when they turn 25. 
  • Primerica maintains strong financial ratings from multiple agencies.  
  • Year Founded 1977
  • Average Cost Per Month $15.96 per month for $150,000 in coverage for a 35-year-old customer in standard health
  • Kinds of Plans Term
  • Number of Plans One
  • Payment Plan Options Monthly, quarterly, annually, semi-annually
  • Phone 1-800-257-4725
  • Official Website

Primerica Life Insurance, founded in 1977, is a life insurance company that sells only term life insurance. In our Primerica Life review, we look at things like the coverage Primerica offers as well as riders, pricing, and ratings for customer satisfaction and financial stability. The company is known for encouraging customers to buy term life insurance and invest the money they save by not investing in permanent coverage.

Read the full review to see whether a Primerica Life policy is the right choice for your family.

Company Overview: A Multi-Level Marketing Insurer

Primerica Life Insurance is a multi-level marketing company that sells life insurance, annuities, and other financial services. The company was founded in 1977 as A.L. Williams & Associates Inc. and popularized the strategy to “buy term and invest the difference.” Primerica is headquartered in Duluth, Georgia, and has $781 billion of life insurance in force. The company also offers other types of insurance, including home, auto, and identity theft.

Because Primerica works as a multi-level marketing company, the quality of agent you get varies. Always ask about someone’s background before doing business with them. 

Available Plans: Term or Nothing

Primerica sells only term life insurance. In fact, the company created and popularized the idea that people should buy term life insurance instead of permanent coverage and invest their savings.

Term life insurance provides a set death benefit for a predetermined period of time. Once a policy’s term is over, policyholders have to renew or find other coverage. Permanent life insurance lasts as long as premiums are paid. Permanent policies also have cash value components that grow over time. 

Policyholders with permanent life insurance often can borrow against their cash value or sometimes even access benefits early if they meet certain criteria. It also has additional riders such as living benefits in the event of a qualifying illness. However, it’s also more expensive than term. Consumers should take the time to consider what type of policy best meets their long-term financial needs.

If you are looking for permanent insurance, you won’t find it with Primerica.

Term Life

Customers who buy term life insurance from Primerica get a defined amount of coverage for a preset period of time. Customers can purchase up to $300,000 in coverage without a medical exam and $400,000 with a medical exam. Policies start at $15,000 in face value or $15 per month in premium and are available in 10-, 15-, 20-, 30-, or 35-year terms, with issue ages available varying by term.

Primerica’s term life option also offers guaranteed insurability until age 95—policyholders are guaranteed to be able to renew their policy without going through another medical exam.

Available Riders: A Few Optional Add-Ons

For customers who are looking for terms slightly different than those included in a standard term life policy from Primerica, the company also offers several options that customers can buy with their policy. Riders are additions to policies that help improve benefits. These riders can be added to policies for an extra fee if customers want other benefits. 

Some of the riders available with Primerica life insurance policies include:

Increasing Benefit Rider

An increasing benefit rider allows policyholders to increase the death benefit of their policies for a certain period of time. With Primerica, policyholders can increase the values of their policies by up to 10% per year for 10 years capped at the maximum policy amount of $400,000.

Waiver of Premium

A waiver of premium rider allows policyholders to skip their premium payments if they meet certain criteria. For example, the rider kicks in if the policyholder is diagnosed with a qualifying chronic illness or becomes disabled.

Guaranteed Insurability

Guaranteed insurability riders guarantee that policyholders can renew policies up to a certain age without reapplying or going through another health exam. Primerica includes guaranteed insurability riders with all of their term life policies, guaranteeing renewals until age 95. For policyholders who renew, their premiums only increase due to their age.

Child Rider

Primerica offers a child rider that can be added to term life policies. Primerica’s child rider adds a set amount of term life coverage that covers all the children in a family for a single flat rate, regardless of how many children are.

For example, Primerica customers can add $25,000 of coverage for each of their kids, regardless of whether they have one or five. Children who are covered by a child rider are also guaranteed insurability and have the option at age 25 of getting five times the coverage they had under the child rider with no medical questionnaire or exam.

Customer Service: Get Help From Friends and Neighbors

Customers who need help from Primerica can call 800-257-4725 or email Those who need to file a claim can call 888-893-9858 or email There is no live chat through Primerica’s website. However, it's best to reach out to your Primerica agent who wrote your policy if you need assistance. Primerica claims that 94% of claims are paid within 14 days. It’s not clear from Primerica’s disclosures or other customer reviews what accounts for delays with the other 6% of claims.

Financial Strength: As Good As It Gets

Primerica has an A+ (“Superior”) rating from AM Best. This rating is based on the strength of Primerica’s balance sheet, its risk management practices, and other factors. It suggests that the company is stable and able to pay benefits.

Cancellation Policy: Just Quit Paying

Primerica offers only term life insurance, so policyholders are able to cancel whenever they want by simply not paying premiums. Primerica recommends contacting an agent when choosing to cancel. With term life, however, there’s no cash value to get back and no surrender fees. However, customers who cancel will lose their death benefit, any premiums they’ve paid to date, and their right to renew their policy.

Price: No Transparency but Reportedly Not Cheap

There is almost no pricing information about Primerica available online. The company has no online quote tool—you have to speak with an agent to get a quote. Primerica also has minimum policy requirements, with customers having to spend at least $15 per month in total premium. Premiums for Primerica term life do not vary between men and women with equivalent health ratings.

Estimated Monthly Premium for $150,000 in 10-Year Term Life
Age (Male or Female) Premium
25 $15.34 per month*
35 $15.96 per month
45 $25.94 per month
55 $47.74 per month
65 $135.24 per month

*Increased to $160,000 in coverage to meet the minimum premium requirements

Competition: Primerica Life vs. New York Life

Customers who are debating between Primerica and New York Life should work with New York Life, because New York Life also offers other life insurance products, including multiple types of permanent coverage.

  Primerica NY Life
AM Best Rating A+ A++
Types of insurance offered Term Term, whole, universal, variable universal life
Number of riders available Three Four
Final Verdict

You Can Find Better

Primerica Life offers term life insurance and other financial services using a multi-level marketing model. While this model allows customers to work with friends and neighbors to get coverage, it also leads to several complaints from customers who accuse Primerica agents of misrepresenting products, since many of them might not get the proper training to sell insurance as a multilevel company. Customers who are thinking about buying insurance from Primerica should look elsewhere, as they can find other types of insurance and probably lower premiums with other providers.


All of our reviews of life insurance companies are based on extensive research and analysis of each company based on offerings, customer service, financial stability, cost, and more. For each company, we compared the life insurance products offered, as well as available features, and reported customer experiences. Visit our life insurance review methodology for the full breakdown on how we evaluated over two dozen life insurance companies.

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .
  1. Business Wire. “AM Best Affirms Credit Ratings of Primerica, Inc. and its Subsidiaries.” Accessed Oct. 10, 2021.