Facts on Primerica Insurance Company

Facts on Primerica Insurance Company

Primerica  is a significant insurance company. There are certain facts that exist which we would like to let our subscribers know.

The following is a must know:

  1. Primerica targets middle income families.
  2. Their U.S. Headquarters in Duluth, Georgia and they operate in Canada under the name Primerica Life Insurance Company of Canada.
  3. As of 2010 the company was estimated to be valued at $4.9 billion. Source: The U.S. Securities and Exchange Commission.
  4. Primerica has over 6 million clients worldwide.
  5. Primerica has over 100,000 agents, but the majority work on a part-time. basis.
  6. Primerica has no permanent insurance policies within its product lineup.
  7. Primerica’s agents are licensed in life insurance and earned an average of $5,156 in compensation during 2009. This breaks down to an average of $429.67 each month, not accounting for taxes. The income level that an agent achieves varies based upon the licenses they’ve obtained. “Contract Level” means the agent receives commissions and the amount is based on their level of personal production and commission-based businesses written in the field, as well as the size and activity of an agent’s broker network. This is also dependent on whether the agent is what is called an RVP, or is additionally licensed in securities, debt, or another of Primerica’s financial divisions. Source: Primerica Disclosures.
  8. Primerica representatives are independent contractors. They are not considered employees of Primerica or any of its affiliates.
  9. Primerica distributes its insurance policies through its in-house sales network.
  10. They are primarily only interm life insurance and hence cannot offer a permanent life insurance solution.

We at YourInsuranceGuy.ca are experts in explaining the the various types of life insurance that could protect the entire family. Please feel free to contact us at aman@yourinsuranceguy.ca or at 1 416 509 2540. Please visit us for a no obligation quote or advice.

 

Some useful links:

Term Life Insurance

Permanent Life Insurance

Universal Life Insurance

Combining your term and permanent insurance: both are important.

 

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