Primerica Life Insurance Review: Read This Before Applying!


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In This Article

Key takeaways:

  • Primerica offers customized life insurance solutions that tailor to meet your needs and budget as close as possible.
  • They also provide financial education for its policyholders to help them make informed decisions about planning for their future.
  • Primerica has over 2000 agents within their company that can provide personalized service to customers. But the company has been criticized for their network marketing business model.

Primerica life insurance review

Our rating for Primerica life insurance: ★★☆☆☆ (2/5)

If you're looking for an affordable premium plan with custom benefits, Primerica might not be the best bet for you. Their costs are much higher than other companies, and some reviews have said that getting help from the organization can be tough. But their Custom Advanatge and TermNow policies offer benefits like renewable policies until age 95 and an increasing benefit rider.

Generally speaking, you can probably do better.

Who is Primerica Life?

Primerica Life Insurance is a financial services company that specializes in providing term life insurance products to individuals and families. The company was founded in 1977 under the name A.L. Williams & Associates by Arthur L. Williams Jr. The company rebranded as Primerica in 1991 and has since grown to become a leading provider of life insurance and other financial services.

Primerica operates through something called a network marketing model, which is a fancy way of saying their products are sold by independent sellers. They have been criticized for having a similar model to multi-level marketing companies but rest assured, Primerica issued a statement reassuring customers they are not a multi-level marketing company.

Primerica life insurance quick facts for 2023

  • Headquarters in Duluth, Georgia
  • Founded in 1977
  • 2,891 employees
  • A+ AM Rating 2023

How much does Primerica life insurance cost in Canada?

Roughly speaking, Primerica life insurance tends to be a bit pricier than what's on the market. In a comparison between Primerica and PolicyMe rates, we found that Primerica can be up to 41% more expensive for comparable coverage types, based on publicly available rates.

Primerica life insurance rates for 2023

Let's see how Primerica's term life insurance prices stack up against some of Canada's leading term life insurance companies.

Company Monthly premium*
RBC $31.32
PolicyMe $31.46
Beneva $31.50
Humania $32.40
Wawanesa Life $33.75
Sun Life $35.10
Primerica $44.65
CIBC Life $46.53

*Pricing based on a 35-year-old man seeking $500,000 in coverage for a 20-year term policy.

Money gets tight sometimes, especially when we're paying for so many little things these days, like our children. See how affordable life insurance can be with PolicyMe.

Primerica life insurance: pros and cons

Here are some pros and cons of Primerica life insurance that should be considered when evaluating whether it is the right option for an individual's needs:


  • Financial education: Primerica offers financial education resources to help them make informed decisions about planning for their financial future.
  • Large network of agents: Primerica has a large network of agents who can provide personalized service to customers.


  • Limited product options: Primerica specializes in term life insurance, so those who are looking for more permanent coverage options like universal life insurance will not find it here.
  • Pushy business tactics: Some people have reported feeling pressured by Primerica agents to sign up for Primerica products or recruit others to join the company.
  • Limited online resources: While Primerica offers some information on their page, most interested shoppers won't find a detailed policy outline like other companies. To get access to further information like monthly premium costs, medical exams, and can your children be covered through your policy, you will have to reach out to one of their advisors by phone.

Primerica life insurance customer reviews

Let's dive in and see what some of Primerica's policyholders have to say about their own personal experience:

Positive Primerica life insurance reviews

"Primerica did not just offer me the most affordable and effective insurance products, they explained how the policy worked and set me on a path to retirement." - Customer on Insureye

"When my old contract was examined next to my now Primerica contract, it was obvious that the slight price savings of the old insurer was not worth the major financial loss over the lifetime of the policy." - Customer on Insureye

Negative Primerica life insurance review

"Scam company using job sites to phish for people to bring into their ponzi scheme without pay. Beware of this company, if you want to get into being a financial advisor or insurance, don't do it through Primerica." - Customer on BBB

"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." - Customer on BBB

Primerica life insurance products

Currently, Primerica only offers one type of coverage: term life policies. Those who are looking for whole life insurance won't find Primerica the ideal organization to buy a life insurance policy from. Let's take a look at some of the assets their term life offers.

TermNow term life insurance policies:

  • Coverage amount: Up to $250,000 or up to $300,000 for applicants under age 45.
  • Term lengths available: up to 30 years available.
  • Riders: Increasing benefit rider option available.
  • Exclusions: The policy is not available to individuals over the age of 65
  • Convertible or renewable life insurance: You can qualify for renewal until age 95.
  • Medical exam: None required.
  • Level or decreasing: Level premiums remain consistent throughout the term of the policy

Custom Advantage term life insurance policies:

  • Coverage amount: Up to $5 million depending on varying factors like age and smoker status.
  • Term lengths available: up to 30 years available.
  • Riders: Increasing benefit rider option available.
  • Exclusions: The policy is not available to individuals over the age of 65.
  • Convertible or renewable life insurance: You can qualify for renewal until age 95.
  • Medical exam: Required.
  • Level or decreasing: Level premiums remain consistent throughout the term of the policy

About Primerica's customer service and cancellation policy

Primerica has a different customer service phone line dedicated for Canadian customers; before calling in, save yourself the headache and verify that you are not calling the number for the United States, Puerto Rico and Guam. There are four main ways to contact Primerica customer service: 

  1. English phone number: 1-800-387-7876
  2. French phone number: 1-800-265-4804
  3. Email address:
  4. Mailing address: Primerica Life Insurance Company of Canada, P.O. Box 174, Streetsville, ON L5M 2B8

How do you cancel your Primerica life insurance policy? 

Primerica customers can cancel their life insurance policy similar to most other life insurance providers out there: calling their Client Services team. You can contact Client Services using their Canada-specific phone number at 1-800-387-7876 (EN) or 1-800-265-4804 (FR).

Bottom line: Primerica life insurance review

Primerica life insurance may be worth it if you have been denied for other term life insurance policies. For those seeking basic term life insurance coverage, Primerica's product may be a good option. But you can definitely get the same coverage for a far more affordable price with a different life insurance company.

The lack of riders and limited maximum coverage amount makes it hard for policyholders to get an answer to all their queries. We recommend to buy term from other companies that have more competitive benefits like PolicyMe, RBC or Wawanesa Life.

FAQ: Primerica life insurance

How much coverage can I get with Primerica life insurance?

Primerica offers coverage amounts of up to $300,000 with their TermNow policy. Depending on your needs and budget, you can choose a policy that fits your specific situation.

Do I need to undergo a medical exam to get Primerica life insurance?

No, Primerica's term life insurance policies do not require medical exams or doctor's reports if you are applying for TermNow. With Custom Advantage, like any other traditional life insurance policy, you will have to undergo a medical exam. This can make the application process faster and easier for customers.

Can I access my death benefits before I pass away as a Primerica policyholder?

Life insurance policies typically provide death benefits to the beneficiaries named in the policy upon the insured person's death.

Like most life insurance companies, you cannot access the death benefits of a life insurance policy while you are still alive. The purpose of life insurance is to provide financial protection to your loved ones after your passing. The death benefits are intended to help them cover expenses and replace the income that would be lost due to your death.

How can I apply for Primerica life insurance?

You can apply for Primerica life insurance online or through a Primerica representative. The application process is designed to be simple, with no medical exams required.

Is Primerica life insurance worth it?

This depends on individual needs and priorities. For those seeking a basic term life insurance policy at an affordable rate, Primerica's product is probably not a good option. And the lack of riders, unclear renewable/convertible options and limited maximum coverage amount may be a disadvantage for some customers.

Additionally, the network marketing model used by Primerica may not be appealing to all potential buyers. Ultimately, consumers should carefully weigh the pros and cons of Primerica's life insurance product before making a decision.

Who owns Primerica insurance?

Primerica, the life insurance company, is owned by Primerica, Inc., a financial services company based in the United States and Canada. The company was founded in 1977 and went public in 2010. Primerica's products and services include life insurance, investments, debt solutions, legal protection services, and auto and home insurance.

Want to learn more about other life insurance options? Here are more reviews of Canadian life insurance companies:

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