Primerica (Prime America) Review 2021-Are They A Good Company?

Primerica (Prime America) 2021 review

Primerica (Prime America) Life Insurance Review 2021

Primerica (Prime America) has grown into one of the largest term life insurance companies in the country.  They ranked #7 in the country for ordinary life insurance issued in 2011, according to A.M. Best.  However, when you examine their business model and premium rates, you will find a company who is overpriced and lacking substance in key areas.  As agents, when a prospective client says they have a policy with Primerica, we kind of smile inside.  We know from experience, more often than not we are going to get you a much better rate then you currently paying and will replace that policy.


Primerica was founded by Art Williams in 1977 as A.L. Williams.  Art was a revolutionary in bringing term life insurance to the masses.  He later sold his share of the company, and in 1987 the company was renamed Primerica Corporation.

MLM-Multi-level marketing type-business model (multi-tiered compensation system)

With about 90,000 + representatives, Primerica agents try to sell to a warm market- meaning friends, relatives and acquaintances.  The representatives also are encouraged to recruit more agents into the company so they can receive a commission from sales of the new agents.  This pyramid or business model unfortunately leads to overpriced policies for the consumer.

Primerica is expensive

Sample quotes for a 40 year old male, non-smoker at the preferred plus class:

Amount      Term          SBLI     vs.    Primerica     Difference      

$500,000     10 Year       $20.88               $29.45         -41%

$500,000     20 Year       $33.93               $45.13          -33%         


Amount       Term       Banner    vs.   Primerica   Difference      

$1,000,000   10 Year      $33.69            $51.78            -53%

$1,000,000   20 Year      $63.44            $83.13           – 31%

When you compare the quotes from Primerica vs. almost all of the other major life insurance companies, Primerica is usually at the bottom of the list as far as being competitive.   This example above was for a healthy 40 year old.  If you are older or have any health impairments, the rates are going to be even more expensive.  Of course every quote will be different, this is just an example.

Is it worth paying more to be with Primerica?

Primerica is A+ rated by A.M. Best.  This is a great rating but almost all of the other top companies have the same rating.  Primerica does have a good reputation for paying out their claims but so does all of the other major life insurance companies.


Primerica is usually overpriced.  Art Williams and his company were one of the forefathers for bringing term life insurance into the market. However, due to their MLM business model they can be expensive and there are typically much better options out there.

*Rates as of 3/26/2013. The information in this post is for informational purposes only and is not a guarantee of rates and insurability.  Rates and eligibly are subject to the underwriting guidelines of the insurance companies and state in which you live.