Primerica Term Life insurance

I have been hearing mostly bad things about Primerca as a company as a whole and only a few good things but mostly bad. However i am more interested in their Term life insurance policies. Is anybody farmiliar whit it that can offer me some guidance.

Term insurance is throwing away money but so is car insurance so again who cares. Get the cheapest policy from a company that you like ( I use Hartford -they have convertability or John Hancock- convertability as well.) I continually trash Primerica because their agents know NOTHING about wealth management. So F^&*%$ what they are a Citi Company. Northwestern and Primerica and so many other insurance companies train agents to continually sell more insurance. Heres the facts. I manage money for a living. I have been in the wealth management business for quite some time. Last year I did a ridiculous amount of insurance premium. Not once did I ask for the business or was pushy. I solve problems, i.e. correcting mistakes of college kids who are all full of piss and vinegar and just sell because they need money. Just stay away. Your best bet is to call someone at a major wall street brokerage, discuss what you are looking for and if he/she doesnt do insurance, ask him who he refers his clients to. This way you have a third party reference from a source who is reputable and will not let you get screwed. Anyone who asks for referrals after they "fact find" or "interview you" is a crook. (All Bs. aside....get a policy with convertability option. You may want or even need whole life or UL somewhere down the road. Its worth the extra few bucks if you think it might make sense later in life.

Most of the bad things you hear are people who don't like the business opportunity and they think its a scam or whatever. Then there's those other agents from other financial companies saying bad stuff as well because they hate Primerica and make stories up. Who you going to trust your sources on? People who probably never had experience in the company or people who been in the business for a long time? Its like you trying to get some information about life on a college campus and you speak to a drop-out college student who has no clue what he/she is talking about.

Here is the real facts about Primerica: 1) They are a Citi company that targets middle income families. 2) They have over 6 million clients worldwide 3) Over 100,000 agents and only 29% of them are securities licensed 4) They are a member of the Better Business Bureau 5) Only company that sells term insurance and invest the difference 100% of the time.

Anyway, I personally own a 30 year term through them. I bought it at age 24 with $150,000 coverage. I pay around $25/month for it. I think their service side is very good because they taught how to build wealth for retirement and show me how to pay off my student loan faster. If I never met them, I probably will never buy life insurance or see the reason for it, probably never open my own Roth IRA and put all my money in a savings acount, and just continue paying the minimum on my student loan.

Here are some other benefits in my term policy: 1) I can renew it in 30 years without providing proof of insurability 2) If I become terminally ill, I can use 40% of the death benefit.

Some riders you can add to the policy: 1) If you have a spouse, you can add a spouse rider so that both of you are covered in the same policy and qualify for coverage breakpoints. (if your spouse bought his/her own policy, it will cost more). 2) If you think there's a chance you become disabled in the future, you can add a disability waiver of premium rider (it will cost you few more dollars to get this protection). 3) If you have children, you can add a child rider of coverage up to $10,000.

If you are not interested in their life insurance, you are making right choice for considering term insurance. But you should check out what else they can do for you. If you have debt, they can show you how to pay it off faster. If you have investments and have no clue how it is doing, they can find out and recommend you investments that has outperform your investments. If you don't have any investments, you better start investing because thats the only way you going to accumulate lots of wealth for retirement.

I think its very good and the agent that spoke to me was very professional and answer all my questions. They also help me in other areas, which "Doing The Right Thing" described.

They wanted me to join the business opportunity so that I can help my friends and family, but I wasn't interested because I'm lazy and not a people person. I didn't want to go through the training classes or pay for the licenses. I don't want to recruit people either because people are weird. So I just refer the agent to who I know.

The insurance is just fine. The company has an A+ rating. But you can certainly find term life on the web for much less. Check out Banner Life. They are hard to beat.

** There is another product you should know about. Return of Premium Term Life insurance. More expensive than regular term, but still very affordable in most cases. Anyway... if you keep your policy in force for the full length of your term, (e.g. 15, 20 or 30 years), at the end of the term, you receive 100% of your money back! No kidding.

It's protection if you need it and your money back if you don't.

Some people think it's a gimmick, but I'm an agent and I believe in it. It's not for everyone. If you don't think you can keep the plan in force for the entire length of the term, then just buy regular cheap term. But if you are the type of person to stick with a program, you WILL receive 100% of all premiums you've paid in as long as the policy is in force at the end of your term. Check it out and good luck to you! :)

Good products, offered by MLM hacks. The company's business model is the most irresponsible in the industry, but the products are fine (AM Best A+) as long as you have no need for a convertibility option. They don't offer one. Typically, term coverage can be found with greater options for less premium.

there are so many more reputable life insurance companies available to you for good term policies that you'd be sily to buy from primerica. and because most of the top life companies treat term as a commodity and starter product, you wouldn't go wrong buying from any of them: new york life, prudential, john hancock, metlife, guardian. take your choice.

avoid them. they are the old a.l. williams, a very chec kered history in the industry

Enter Your Message or Comment

User Name:
User Email:
Post a comment:

Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.014
Copyright (c) 2011 Financial Crisis Sunday, May 27, 2012 - Terms of use - Privacy Policy