Primerica Life Insurance Review

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Contributor, Benzinga
July 13, 2023
Overall Rating:
securely through Primerica's website

Let’s get one thing out of the way — yes, Primerica does face criticism for its multi-level marketing and sales business model. However, you should also know that the company has been selling life insurance since 1977 and has an A+ rating with the Better Business Bureau. Primerica promises simple, affordable term life insurance as well as benefit-rich solutions.

Best For
  • Increasing benefit rider
  • Doesn’t always require a medical exam
  • Highly-rated company
  • Offers a quick claims process
  • No medical exam required for some policies
  • Only offers term life insurance
  • Doesn’t offer the option to convert your term policy to a permanent policy
  • Agents are marketing and sales reps and cannot sell you non-Primerica insurance.

Primerica Ratings at a Glance

Life Insurance Products
Life Insurance Coverage
Life Insurance Rates
Life Insurance Customer Service
Life Insurance Claims Support

If you decide to take out a life insurance policy for yourself or a loved one, it’s important to understand your options. Whether you’re looking for cheap life insurance companies or unique policy benefits, you have a number of options to choose from. Primerica life insurance is a company worth checking into.

Who’s Primerica Life Insurance For?

Primerica has some restrictions on its life insurance products. This company may be an option for you to consider if:

  • You’re in good health. Primerica is known for being more strict than some of its competitors when it comes to which applicants are approved or denied health insurance. If you’re in good health, you’ll likely qualify for Primerica life insurance. If you’re a smoker or have a health condition, you may be less likely to get approved.
  • You only want a term policy. Term life insurance is a popular option for good reason. It tends to be less expensive, and many companies offer a conversion policy down the line. You’ll want to consider what you will need long term from your life insurance policy though. If you think you may later want to convert to a permanent insurance policy, Primerica may not be the best option for you. If you know that you only want a term policy, its products may work for you.
  • You want to continue to increase your death benefit. Most life insurance policies offer a death benefit that remains the same throughout your entire term. Others may even decrease your death benefit over time. Primerica may be a good option if you’d like to be able to increase your death benefit throughout the first few years of your policy.

Primerica Life Insurance Products

Primerica only sells term life insurance policies. These policies have 10- to 35-year terms, depending on which one you select. The 35-year term is rare in the insurance industry and gives consumers more flexibility. The company only offers this insurance policy because it believes term life insurance is the optimal policy that keeps costs low for families.

  • Term life insurance policies: Primerica only offers term life insurance, which is a life insurance policy that only lasts for a set number of years. After you have reached the end of the number of years — your term — your life insurance policy will expire. This means that beneficiaries will only receive the life insurance benefits if the insured person passes away before the policy expires. After the end of your policy, you will need to purchase a new term life policy to continue your coverage.

Your life insurance policy with Primerica may also have additional features and riders, including:

  • Increasing benefit rider: This unique addition is uncommon among life insurance policies. It allows you to increase the death benefit value of your life insurance policy up to 10% for 10 years. Most life insurance companies offer policies with benefits that stay the same or decrease over time.
  • Guaranteed insurability: All Primerica policies offer this option up until the insured person turns 95. It allows you to renew your term policy after it expires without needing to submit another application or go through an additional medical exam.
  • Terminal illness benefit: If you have a life insurance policy with Primerica and are diagnosed with a terminal illness during your coverage, you may qualify for this benefit. It offers a waiver on your premium payments and up to 70% of your payout before death. You could use this payout to help you cover medical expenses while treating your condition.

Focus on Term Life: Primerica Life Insurance Term Policies

While Primerica does only offer term life insurance policies, it does offer different options for your term policy. Its 2 types of life insurance policies are:

  • Primerica Custom Advantage: The Custom Advantage option offers death benefits as high as $1,000,000 or more. This life insurance is fully-underwritten as well. If you choose the Custom Advantage option, you can expect the application process to take 1–6 weeks. You will also be required to have a medical exam.
  • Primerica TermNow: This life insurance option does not require a medical exam. Primerica instead will run a background check with several databases to determine whether you qualify for the policy. The background check will likely include your DMV records and your records with the Medical Information Bureau. The TermNow option only offers death benefits up to $300,000. Rates for this type of policy are often higher than Primerica’s fully-underwritten policies under the Custom Advantage option, however, you can expect a much quicker application process with this option — completion in just minutes.

Available Discounts and Tips for Primerica Life Insurance

To get the best rate on your Primerica life insurance policy, you’ll first need to become familiar with what a life insurance policy is. A big part of this is understanding what the terms associated with your policy mean. 

When you take out a life insurance policy, you are entering into a contract with an insurance company. To keep your policy active, you’ll be making premium payments. You will likely be making these payments to your insurance company monthly. The benefit of a life insurance policy is that when you die, the insurance company will pay out a lump sum to the beneficiaries you have listed on your policy. 

Here are some of the terms you’ll likely see when reviewing your policy options:

  • Beneficiary: The beneficiary of your policy is the one who will receive the lump-sum payment when you die. You can list one or more people as the beneficiary of your policy. You can also list an institution or organization as your beneficiary.
  • Death benefit: When you see “death benefit” know that this refers to the lump-sum that is paid out to your beneficiary. 
  • Policyholder: The policyholder is the owner of the life insurance policy. If you take out a life insurance policy for yourself, then you would be the policyholder. You may also be able to take out a policy on someone else’s life.
  • Premium: Your premium is the amount of money that you will need to pay regularly to keep your policy active or “in force.” Most people have monthly premiums, but it may be possible to pay annual premiums instead. If you do not pay your premium, your policy will become inactive and your beneficiaries will not be able to receive the death benefit for your policy.

To get the best rate, it is important to understand your needs and what you are getting from your policy. Be sure to compare quotes among insurance companies. You may also want to speak to a few insurance agents to understand and compare your options. Each person’s needs are unique, and there are a number of life insurance policies that may offer the right set of coverage for you.

Primerica Life Insurance Coverage

When selecting from Primerica’s term life insurance options, you will be able to select from a number of term lengths. The options available to you may vary depending on your age. If you select a term length of 25 years or more, you should understand that your premium may go up after a certain number of years.

Primerica offers the following term lengths:

  • 10 years
  • 15 years
  • 20 years
  • 25 years
  • 30 years
  • 35 years

In addition to life insurance, Primerica also offers a few other insurance types:

  • Auto insurance
  • Homeowners insurance
  • Long-term care insurance

Primerica also offers additional financial services, including:

  • Debt consolidation loans
  • Mutual fund investments

Primerica Life Insurance Rates

One of Primerica’s downfalls is that it isn’t as transparent as other insurance companies when it comes to its pricing. You’ll notice that you won’t find the option to receive a quote for life insurance on the Primerica website. To get a quote or learn how to buy life insurance, you will need to call or email a local agent. 

As far as value goes, it really comes down to what you are looking for from your life insurance policy. Primerica does have some unique offerings, including the increasing benefit rider. This may provide more value to you than a less expensive policy with a competitor. It’s best to shop around and compare policies to find the best value for your situation. 

Coverage (20-year term life insurance)30-year-old male45-year-old male60-year-old male
$500,000$478.80 per year$1,003.20 per year$3,995.76 per year
$1 million$872.16 per year$1,920.96 per year$7,905.96 per year

Primerica Life Insurance Customer Service

Primerica offers a few ways to contact its customer service department. If you need help with general policy information for Primerica’s life insurance products, you can:

  • Call 800-257-4725
  • Email 
  • Mail your correspondence with your 10-digit policy number to:

Primerica Life Insurance Company

1 Primerica Parkway

Duluth, GA  30099

Primerica Life Insurance Claims Support

There are a few ways you can contact Primerica to submit a claim or get more information about the claims process:

To get general information, you can email the claims support department at 

To start a new claim, you can call the claims office at 888-893-9858.

You can also access claims documents by logging into your online account.

Is Primerica Life Insurance Right for You?

To decide whether Primerica is the right option for you, there are a few things you should do:

  • Ask yourself: How much life insurance do I need?
  • Determine if a term policy is the right choice for you.
  • Speak to experienced life insurance agents and compare your options.

You’ll need to determine what you need from your life insurance company and policy before you are able to make the best choice. Take your time to understand your requirements so you can feel confident in your decision. Keep in mind that when you contact a Primerica agent, they will not be able to give you information about other companies' life insurance products. Contact a few other insurers to help you get a fuller picture of your options.

While Primerica life insurance does have its share of drawbacks, it may be the right option for you. Primerica offers unique benefits to its life insurance policies, so consider it in your hunt.

Frequently Asked Questions


Is Primerica life insurance legit?


Primerica life insurance is legitimate. The company has been around for almost 50 years and has paid many families.


Does Primerica pay out?


Primerica pays out roughly $4 million per day to families.

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Benzinga crafted a specific methodology to rank life insurance. To see a comprehensive breakdown of our methodology, please visit our Life Insurance Methodology page.

About Ashley Hart

Ashley Hart is a personal finance writer passionate about helping people feel empowered to take control of their finances. She has more than eight years of writing experience, focused on insurance.