Primerica Life Insurance Company Life Insurance Reviews

I have been with Primerica from when it was Alwilliams then Milico now Primerica about 40 years! I have endured the rate changes on Renewal. But this last one broke the camels back. When I talked with my agent in march of 2020 on the changes that I needed to make to drop the amounts paid to a beneficiary due to price increase due to age. She says no problem. Got a new policy but changes were not done as requested. Talked with her again and she said they would fix it. Received the second new policy it was the same thing again no changes made. Called her again said she would look into it and get the changes made. At this point today, I have been waiting over a month and a half for the updated policy. I get one excuse after another. So as of today, I cancelled my military allotment to Primerica and my policy with Primerica. The customer service at the agent level in near none existent.

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!