Primerica General Information
What is Primerica?
Primerica is a leading financial services company in North America. For over 40 years, Primerica has helped families become properly protected with life insuranceii, and investiii for a more secure financial future. Primerica licensed representatives provide financial education, a personalized Financial Needs Analysis (a GPS for client finances), and financial products such as term life insurance and mutual funds. Primerica pays over a billion dollars a year in life insurance benefits to clients' families. Through its insurance company subsidiaries, Primerica was the #2 issuer of term life insurance coverage in North America in 2020. As of the end of 2020, Primerica insured more than 5.5 million lives and has over 2.6 million client investment accountsiv. Primerica also markets other financial products such as mutual fund investments, individual 401(k) programs, IRAs and annuities. For more information of our financial products, click herev.
What does Primerica do?
Primerica's licensed representatives help families understand where they are financially and analyze their goals to prepare for a more secure future. They offer a complementary Financial Needs Analysis (a GPS for finances) which provides personalized information that may include establishing an emergency fund, paying down debt, becoming properly protected with term life insurance and investing for retirement. Primerica representatives take an educational approach to personal finance and explain foundational financial concepts that are often not taught in school. Representatives must obtain various financial licenses in order to offer Primerica's products and services and participate in ongoing training and continuing education requirementsvi.
Are Primerica representatives licensed?
Primerica's representatives must complete state and/or federal mandated licensing requirements to recommend financial products to help families achieve their financial goals.
How many representatives does Primerica have?
Primerica has more than 130,000 independent, life insurance licensed representatives in North America.
What products does Primerica sell?
Primerica offers clients term life insuranceii, mutual funds, annuities, managed accountsiii, auto and homeowners insurancevii, pre-paid legal servicesviii, and identity theft protectionix. Not all products/services available in all states or provinces. A representative's ability to market products is subject to state and federal licensing and/or certification requirements.
How does Primerica work?
Primerica is a leading financial services company with over 130,000 licensed representatives in North America. Primerica representatives build their own independent financial services businesses by leveraging Primerica's training, marketing, technology and business management infrastructure. Representatives must complete state and/or federal mandated licensing requirements to recommend financial products to help families achieve their financial goalsvi.
Primerica's representatives help families understand where they are financially and analyze their goals to prepare for a more secure future. They offer a complementary Financial Needs Analysis (a GPS for a family's finances) and take an educational approach with clients, explaining foundational financial concepts that are often not taught in school. These concepts range from establishing an emergency fund and investing for the future to paying down debt and becoming properly protected with term life insuranceii,iii.
Who owns Primerica and how long has it been around?
Primerica is a publicly traded company on the New York Stock Exchange. For over 40 years, Primerica has provided financial education, personalized recommendations, and financial products to working families across North America and helped them build financial security. Primerica was founded on the "Buy Term and Invest the Difference" philosophy, which addresses two of the biggest financial needs most families face – protecting income with term life insurance and saving for the futureii,iii.
Is Primerica a good company?
Yes. Primerica is a leading financial services company that pays over a billion dollars in life insurance benefits to families annually. Through its insurance company subsidiaries, Primerica was the #2 issuer of term life insurance coverage in North America in 2020iv. Primerica has an A+ business rating by the Better Business Bureau(BBB)x and has been awarded the highest A+ rating from AM Bestxi, an insurance industry credit rating agency. The Company has been in business for over 40 years, and is publicly traded on the New York Stock Exchange.
Primerica's corporate headquarters has been awarded Top Workplace by the Atlanta Journal Constitutionxii annually since 2014 and earned a National Top Workplace Award for 2021. The headquarters has also been listed on Forbes' "Best Employers for Womenxiii" and included in the Bloomberg Gender Equality Indexxiv, which tracks public companies committed to supporting gender equality. The headquarters has also been recognized on Forbes' list of "America's Best Employers for Diversityxv."
- Life-licensed Primerica representatives are agents of certain affiliated Primerica Companies. In New York, term life insurance products are underwritten by National Benefit Life Insurance Company, Home Office: Long Island City, New York. In the United States (except in New York), term life insurance products are underwritten by Primerica Life Insurance Company, Executive Offices: Duluth, Georgia.
- In Canada, term life insurance products and Common Sense Funds segregated fund products are underwritten by Primerica Life Insurance Company of Canada, Head Office: Mississauga, Ontario.
- In the U.S., securities offered by PFS Investments Inc. (PFSI), 1 Primerica Parkway, Duluth, Georgia 30099-0001, a broker-dealer and investment adviser registered with the Securities & Exchange Commission (SEC), a member of the Financial Regulatory Authority (FINRA) [www.finra.org] and a member of the Securities Investors Protection Corporation (SIPC) [www.sipc.com]. PFSI's advisory business is conducted under the name Primerica Advisors. Fixed indexed annuities are offered by Primerica Financial Services, LLC (PFS). PFSI, PFS and Primerica Inc. are affiliated companies.
- In Canada, Common Sense Funds segregated fund products are underwritten by Primerica Life Insurance Company of Canada. Mutual Funds are offered by PFSL Investments Canada Ltd., mutual fund dealer. Representatives not licensed with these entities cannot sell to you, or discuss with you, any securities or investment products. Canadian Head Office Address: 6985 Financial Drive, Suite 400, Mississauga, Ontario L5N 0G3. Commissions, trailing commissions, management fees and expenses all may be associated with mutual funds and segregated funds. Please read the prospectus or information folder before investing. Mutual funds are not guaranteed. For segregated funds, subject to the guaranteed maturity value and the guaranteed death benefit, the amounts you receive under your contract are not guaranteed. Mutual fund and segregated fund values change frequently, and past performance may not be repeated. Head Office: 6985 Financial Drive, Suite 400, Mississauga, ON L5N 0G3 | 905-812-2900.
- Financial numbers reflected throughout this page are the combined totals or daily average, as indicated above, as of, or for the year ended, December 31, 2020, for the following affiliated companies: Life Insurance: National Benefit Life Insurance Company (Home Office: Long Island City, NY) in New York; Primerica Life Insurance Company (Executive Offices: Duluth, GA) in all other U.S. jurisdictions; Primerica Life Insurance Company of Canada (Head Office: Mississauga, ON) in Canada. Investments: In the United States, securities are offered by PFS Investments Inc. (PFSI), 1 Primerica Parkway, Duluth, Georgia 30099-0001; In Canada, mutual funds are offered by PFSL Investments Canada Ltd., mutual fund dealer, and segregated funds are offered by Primerica Life Insurance Company of Canada, Head Office: Mississauga, ON. Each company is responsible for its own financial obligations
vFinancial Products and Services:
- The products and services offered by the companies noted above may not be available in your jurisdiction or state. The products and services your Primerica representative may be able to offer also may be limited. Available products may be applied for and purchased separately. Please consult your local Primerica office or your Primerica representative for a listing of products and services available.
- Primerica offers a business opportunity that involves the sale of term life insurance, securities, and various other financial service products. Primerica representatives are independent contractors, not employees. Their earnings are based on the sale of products offered by Primerica and also qualifying product referrals. Importantly, for many product lines, Primerica representatives must obtain required licenses before the representatives may sell those products.
viiAuto and Home:
- In the U.S., Primerica Secure™ is an insurance referral program in which representatives may refer individuals to Answer Financial® Inc. Not all insurance products and services are available in all states. Neither Primerica (Primerica Life Insurance Company, National Benefit Life Insurance Company, Primerica Financial Services Inc., Primerica Financial Services of N.Y. Inc. and Primerica Financial Services Insurance Marketing Inc., CA License #0612256), its representatives or its affiliates represent any of the insurers in the program.
- Answer Financial® Inc. offers insurance products and services through its insurance agency licensed affiliate Insurance Answer Center, LLC (California License # 0B99714); in New York as Insurance Answer Center, LLC, an Insurance Agency; in Michigan as Insurance Answer Center, LLC, an Insurance Agency; and in Missouri as Answer Financial. Answer Financial affiliated agencies are not insurance companies, but act as agents for certain insurance companies. Answer Financial's affiliate Right Answer Insurance Agency, LLC (CA License #0H52358) operates as an insurance broker in California and an agent in all other states. Answer Financial is paid commissions and may receive other performance-based compensation for its services. The compensation received by Answer Financial and its employees may vary by insurance company. Rates are subject to change.
- In Canada, Primerica Secure™ is available only in Alberta, Ontario, and British Columbia. Auto & Home insurance are available in AB and ON. Property & Home insurance are available in BC. Auto & Home insurance is offered through a referral arrangement by contractual agreement between SurexDirect.com (SurexDirect.com Ltd. and SurexDirect.com (Ontario) Ltd.) and Primerica (Primerica Life Insurance Company of Canada and PFSL Investments Canada Ltd.). Auto & Home insurance is not directly offered by Primerica. Primerica representatives make Auto & Home insurance referrals to SurexDirect.com and shall not act in connection with, or recommend or provide advice about, any general insurance product offers or discounts. Primerica representatives receive referral fees paid by SurexDirect.com, which in no way affects insurance quotes or premiums paid by the customer. Primerica and its affiliates are not affiliated with SurexDirect.com.
- In Canada, Primerica representatives make simple referrals of clients to B2B Bank and 8Twelve Mortgage Corp. for debt consolidation loans secured by residential real estate.
- Primerica Legal Protection Program is a legal services product of Prepaid Legal Services, Inc. d/b/a LegalShield ("LegalShield") offered by Primerica Client Services, Inc. Neither Primerica Client Services, Inc., LegalShield, nor their officers, employees, sales representatives or associates provide legal services, representation or advice. LegalShield provides access to legal services offered by a network of provider law firms. Services and benefit availability may vary by state. See resident state plan for all terms and exclusions.
- In Canada, the Pre-Paid Legal Services program is provided by PPL Legal Care of Canada Corporation, a subsidiary of Pre-Paid Legal Service, Inc. PPL Legal Care of Canada Corporation and Pre-Paid Legal Service, Inc. are not affiliated with Primerica. Clients should contact PPL Legal Care of Canada Corporation for questions regarding any legal services. The PPLS program is only available in British Columbia, Alberta, Manitoba and Ontario.
ixID Theft Defense:
- In the United States, ID Theft Defense is offered by contractual agreement between Primerica Client Services, Inc. and Prepaid Legal Services, Inc. d/b/a LegalShield ("LegalShield"). ID Theft Defense is a product of LegalShield that provides identity theft protection and restoration services.
xBBB Rating & Accreditation:
- BBB Accreditation Standards represent standards for business accreditation by BBBs in North America. These standards are based on BBB's determination of the attributes of a better business. They incorporate not only lawful business practices, but also BBB's experience with ethical advertising, selling and customer experiences. For a business to qualify for BBB Accreditation, it must continually meet these standards. Not all businesses will qualify for BBB Accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust. BBB accreditation fees are based on several factors, including the size of business. To be accredited by BBB, a business or organization affirms that it meets and will abide by the following standards listed here.
xiAM Best Ratings:
- The following companies have been rated A+ (Superior) by AM Best: Primerica Life Insurance Company, Primerica Life Insurance Company of Canada, and National Benefit Life Insurance Company. For the latest Best's Credit Rating, access www.ambest.com. AM Best ratings range in order from the highest ratings as follows: A++, A+, A, A-, B++, B+, B, B-, C++, C+, C, C-, D, E, F..
For more information, please visit https://www.primerica.com/public/primerica_disclosures.html.
xiiTop Workplaces, Primerica, Inc., 2021, https://topworkplaces.com/company/primerica-inc/ajc/
xiiiRuth Umoh, Forbes, America's Best Employers For Women, July 28, 2020, https://www.forbes.com/best-employers-women/#346eac747de9
xivBusiness Wire, Bloomberg, Primerica Included in 2021 Bloomberg Gender-Equality Index, January 27, 2021, https://www.bloomberg.com/press-releases/2021-01-27/primerica-included-in-2021-bloomberg-gender-equality-index
xvKristin Stoller, Forbes, America's Best Employers for Diversity, April 20, 2021 https://www.forbes.com/best-employers-diversity/#a59b5009b9e9