Life Insurance Reviews
Primerica Life Insurance Company Life Insurance Reviews
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(33 reviews)
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I've been a client of Primerica for years, no fancy confusing presentation , no push salesperson - education on all my options even the ones they don't offer (and why) just the fact based on numbers. Just what I wanted to make an informed decision.
I gladly tell everyone to enlist Primerica to help you
We were able to get a good policy for my son at reasonable rates but what I liked best was the free Critical sickness of 40% in case he was to get sick. We can use that money to get him alternative treatment if it is available or to be able to do the things that we can't afford to do in his last days. Thank you, Primerica for that peace of mind.
Did you know there is a 35% chance of developing a critical illness before you are 65 and 65%-70% chance before you turn 81? That means getting a critical illness insurance quote is no less important than getting life insurance. Your choice.
Primerica only sells term life insurance. What if I want permanent insurance - where the insurance never expires and the premium never increases?
I want a choice! Therefore I will buy insurance through a "real" life insurance company.
We have had Primerica life insurance for over 25 years. We just renewed at very reasonable rates for our ages. Our Primerica representative helped us to find more saving as I guess rates have gone down recently with new product lines. We had a free Increasing Benefit Rider that gave us a 50% increase in the face amount without having to prove that we were still healthy. We also have a free Terminal Illness Benefit rider that pays 40% of the death benefit in advance if either of us comes down with anything nasty health-wise...to cover better treatment or living expenses in case you couldn’t work for months before death. It’s the greatest, and any time that I have gotten a quote somewhere else, the other company couldn't give the same benefits or if they could, it was way more costly for a similar term length! We were also educated by Primerica that with term insurance you need to be saving money for the future because after your kids are moved out and your mortgage is paid, you need cash to live on during retirement. Why would we need any insurance then? We will be self-insured with a pile of money, no mortgage and no more kids to raise. We love good financial planning!
(1) Primerica employs a one size fits all philosophy. Term insurance may often be the best solution but what if insurance is needed a lifetime? Examples: disabled child, to offset taxes, funeral expenses for life.
(2) Primerica is more expensive than the traditional life insurers such as Sun Life Financial.
(3) Primerica's term policies are never convertible to permanent insurance, whereas traditional insurers allow this.
(4) Primerica is the only company that allows advisors to work part-time.
Did you know that mortgage insurance is the same as life insurance but more expensive and offers less protection? By cancelling it and getting life insurance, you would typically save around 30%-40% for the same coverage.
I compared pricing online and Primerica was charging my wife and I 63% more than equally rated insurers. Won't deal with them ever again.
I bought this when i was young, now when gor for a renewal they are asking about a whole month income. frustrated with the way they dealing the customer.
I had universal life insurance for $300/month for $250,000. My Primerica advisor helped me to reduce my monthly cost to $100/month and increase my coverage to $750,000 Amazing! 3X the coverage! (Since I got a mortgage and young kids). The money that I saved from RBC ($200/month), Primerica Advisor helped me open a TFSA account and invest in a mutual fund from Fidelity. I will have well over $210,000 in my savings account. That what I called the best deal I highly recommend Primerica products and services to you guys!
Thinking of getting a life insurance quote from an insurance agent? They work for one insurance company and can only sell the products of that company. That may not result in the best rate for you. Our insurance brokers compare life insurance quotes across 20+ Canadian insurers for you.
On the first page of the policy, it says Modified Term Life. Upon investigating I find that the 20-year term after the second renewal changes the term. Very odd! It eventually becomes an Annual Renewable Term meaning that it goes up every year. Especially after age 60 man does it every start to increase exponentially. Upon inquiring if it can be converted into a permanent policy; they have NOTHING. All term. They don't think people have taxes to pay upon death. How about those with investment properties? How about those Capital Gains? I asked how financially strong the company is and the representative that has an RVP title told me that it was strong and the stock price keeps going up. I told him that people aren't going to be able to afford the renewals in retirement. He said you should be wealthy by then and not need it. I asked him what PERCENTAGE OF POLICIES end up in a CLAIM. HE SAID 4%. Can you believe it a 4%, meaning that 96% of the clients would never claim. Why wonder the stock prices keep going up. They hardly pay any claims!
I have great respect for the fact that they do not try to scam you with phoney life insurance "products" (eg: "whole" life) but focus and encourage simply protection, ie: term life. I have been able to get a substantial amount of protection for my wife and myself at relatively low cost because of this as opposed to a "whole" life policy that I used to have several years ago.