Primerica Review

If you are here, it is presumably because someone has approached you about being a Primerica agent or about purchasing their products. If this is the case, you are reading this.

You could have heard from family members or coworkers to steer clear of Primerica for a variety of different reasons.

When I worked in the finance industry for more than a decade, Primerica did not have a very good reputation among its competitors. I was one of those competitors.

However, Primerica has been in business for close to half a century and is recognized as a formidable competitor in the field of insurance, particularly in the United States. It is a massive corporation, boasting more than 150,000 employees and a market valuation of $5 billion.

The firm may have a certain reputation, but there is no ignoring the undeniable truth that it is a massive worldwide force and one that calls for an in-depth investigation. Let’s take a look at this Primerica evaluation to see whether or not this company is a fraud.

Our Verdict


MLM offerings in the areas of insurance and investments

A business that offers insurance and financial products and uses the multi-level marketing (MLM) business model to hire advisers and acquire consumers.

The potential for a healthy salary and a flexible work schedule are both advantages of becoming a sales representative.

• A sizable business with substantial access to relevant resources

• Some people describe their workplace as being pleasant.

• A challenging objection to overcome when attempting to close sales or recruit

• The potential for lots of pressure to recruit and sell items

• The potential for damage to existing relationships while attempting to sell or recruit

• There is no assurance of a steady income or pay

• There is the possibility of a conflict of interest if the employee tries to sell you things that might not meet your requirements in the hopes of earning a commission.

• Some people have complained about the atmosphere at their place of employment.

What exactly is Primerica, then?

Primerica Inc. is a company that caters to families in Canada, the United States, Puerto Rico, and Guam that have a middle-class income and provides them with investment, insurance, and financial services. Their parent business has its roots going all the way back to the early 1980s, and since 1989, they have been publicly traded on the New York stock exchange under the moniker “PRI.”

Primerica is the parent company of a number of different companies, including Primerica Life, National Benefit Life Insurance Company, Peach Re, Vidalia Re, and e-Telequote.

Is Primerica a Ponzi scheme or an elaborate hoax?

Primerica is not a pyramid scheme, contrary to popular belief. Pyramid schemes are against the law, yet Primerica’s business practices are completely above board.

For several decades, the business’s shares have been listed publicly on the New York Stock Exchange. Additionally, the company is subject to regulation by national governing authorities in each of the countries in which it has operations.

The problem, however, is that Primerica functions in a manner that is strikingly similar to that of multi-level marketing (MLM) businesses.

They do not refer to themselves in this manner (specifically the MLM part), but they do heavily rely on the recruitment of newly licensed individuals to not only sell their products but also to recruit more and more representatives, thereby expanding their reach. This is despite the fact that they do not use this terminology to describe themselves.

According to the findings of my research, the recruited representatives function within a system with 11 tiers, in which sellers make commissions all the way up to their 11th recruitee removed from themselves.

MLMs have always been the target of criticism, despite the fact that the multi-level marketing company model is not only legitimate but also entirely legal. When you combine that with the fact that you are dealing with something as significant as financial products, you have the makings of a contentious situation.

How Much Potential Income Is There Working at Primerica?

In a nutshell, the answer is “yes,” you truly can make money with Primerica. However, contrary to what some of the current representatives may have you to believe, it won’t be a stroll in the park, and you won’t get rich immediately either.

According to reports that were distributed by the corporation, licensed professionals make somewhere between $415 and $583 per month on average, which works out to an annual salary of between $5,000 to $7,000 USD. This sum is in no way sufficient to support a person’s basic needs, especially if you devote all of your working hours to engaging in this activity.

Where Else Can You Make More Money?

In addition, the beginning commission structure at Primerica is quite a bit lower than the market standards that I’ve seen elsewhere in the business. For instance, Primerica insurance agents receive between 25 and 30 percent First Year Commission (FYC) on the products they sell when they first begin working for the company.

Higher commissions are up for grabs for these representatives if and when they achieve the predetermined levels of output and recruitment that have been set for them. They are in the “fight or flight” phase until that time comes.

As a point of contrast, the majority of life insurance agents begin their careers at other companies with higher-paying contracts, as was the case with me. My first contract was for 80% of the whole FYC amount. Within a shorter amount of time than that, the level of my contract increased to 140% FYC.

The beginning 25-30% FYC contract level at Primerica, in my opinion, is too low and should be increased.

The success stories of sales representatives that make hundreds of thousands of dollars per year are anomalies, and the numbers are likely distorted as a result of them. It is impossible to know exactly how much money you would make per hour worked as a Primerica agent because they are paid solely on a commission basis. This means that the amount of money made by each individual will vary dramatically.

There Is No Guaranteed Income

Your level of success in this MLM, like that of any other MLM, is not always connected to the amount of effort you put in.

There is the potential to generate virtually no money with this organization if one does not engage in product sales or the recruitment of a large number of agents.

You may be left feeling pretty desperate if you do not receive a wage from the company, which may be one reason why the company does not have the best reputation.

When it comes to making money with this company, it seems that recruiting new members has a much higher success rate than trying to make sales. In point of fact, this is something that the corporate staff strongly encourages.

What factors contribute to customers’ negative perceptions of Primerica?

Some people think Primerica is fantastic, while others steer clear of it and have strong negative opinions about it. This is primarily due to the following reasons, which are listed below:

1) A business model based on the MLM

This approach to running a business, in which representatives are paid on commission rather than receiving a salary and a significant emphasis is placed on sales and recruitment, typically results in ambitious individuals going the extra mile to convince other people to join their cause.

Naturally, we have a tendency to be wary of people who have a vested financial interest in us purchasing something or joining a company. This is because these individuals stand to gain financially from our decision.

2) Approaching Relatives and Close Friends

It’s possible that one of the reasons Primerica has such a poor reputation is that the company actively pushes their licensed representatives to focus on selling to customers in their “warm market.”

Primerica representatives may place an even higher focus on such a tactic in comparison to other MLM representatives, who typically do this anyhow in the form of pitching to their family, friends, and coworkers.

Warm pitching, sometimes known as selling to people you already know, can be challenging. If you want to go up in the company and make more money, you run the danger of hurting your reputation as well as the personal relationships you have with other people.

Having been on the receiving end of a conversation like that in the past (i.e. being the one who was being pitched to), I feel that it is unpleasant and awkward. It never feels good when one person is taking advantage of another in a relationship for the purpose of furthering their own financial interests; this gives the impression that the other person is exploiting the connection.

3) Reviews That Are Critical

It’s possible that some of the reviews written by current or former Primerica representatives are to blame for the company’s poor reputation. This is the company’s final reason for not having a good reputation.

Some people have very negative things to say about Primerica, whether it be because they did not like the working environment, the pay, or the values of the company. This certainly does not help Primerica’s reputation.

Should You Work For Primerica As An Independent Representative?

Let’s discuss the Primerica business culture, the Primerica training program, and any other pertinent facts that may help you make a choice about whether or not you should become a Primerica representative.

How To Get Started At Primerica, Including Fees And A Timetable

The process of obtaining one’s professional license through Primerica is referred to as a “business opportunity” by the corporation, and the company even maintains a website specifically for this topic.

When you become a Primerica representative, this is how things would go from there: Once you have made the decision that you would like to become a licensed representative and obtained your insurance license (according to my research, this costs approximately $99 and is not covered by the company), it is entirely up to you to decide how much time and effort you would like to put into becoming a licensed representative.

You have complete control over your timetable when you become a Primerica representative. You get to decide whether you want to work full or part time, when you want to work, and how you want to work. Because the compensation is based only on commission, the more you sell and the more people you recruit to sell as well, the more money you will make, and the company will not interfere with this aspect of your business in any way.

Therefore, in order for you to gain money, it will be your obligation to produce leads for both of these objectives. My study into other people’s Primerica experiences unfortunately revealed that you are not provided with many resources or training for lead generation.

Making a Sale to Relatives and Close Friends

Instead, Primerica encourages you to pitch to what it calls your “warm market,” which consists of people you are already familiar with and who fall within your sphere of influence.

After receiving training, it is expected that you will frequently promote products to members of your own family and circle of friends while also attempting to bring new people into the organization. This is not absolutely required, however doing so is strongly suggested.

And now, I’ll let you in on Primerica’s little-known success formula. It is accomplished by the utilization of their representative warm leads as a method of sales.

Environment of Labor

Many workers will point to the benefits of being a licensed representative, which include flexibility and freedom, while others may speak about the pressure that comes with the job and the “cult-like” atmosphere of the company.

I would advise taking everything with a grain of salt and conducting comprehensive research using resources that are not prejudiced or linked with the firm before making a decision regarding whether or not it is the right choice for you before deciding whether or not it is the right choice for you.

To summarize, I would say that there is a lot at stake for you in terms of acquiring new clients and recruiting new reps while working in a culture that may or may not be a good fit for you. In addition, you will be working in an environment that may or may not be conducive to your success.

If, on the other hand, you are confident in your ability to sell to people in your “warm market” and believe that the principles of Primerica are compatible with your own, you should think about becoming a member. If such is not the case, your time and abilities might be better spent on activities that provide more consistent income streams.

Should You Make Primerica Your Financial Advisor?

Take a look at some of the things that Primerica has available:

Primerica Client Experience/Products

You will first undergo a Financial Needs Analysis once you have been matched with a Primerica licensed representative in your area. This step will take place as soon as possible (FNA).

This service is provided at no cost to you, and it helps the representative determine which goods will best meet your needs. Although the primary purpose of the service is to improve the client’s financial literacy, it also serves as a channel for the broker to identify potential business prospects.

A licensed representative can market a diverse selection of products, including: term life insurance; investments (including mutual funds, managed investments, annuities, and company retirement plans); debt solutions; car & home; pre-paid legal; and identity theft protection.

The Breakdown of Life Insurance At Primerica

Let’s take a look at their most popular offering, which is term life insurance. It is important to keep in mind that Primerica only sells term life insurance and not whole or universal policies.

In contrast to the vast majority of insurance policies, it is not feasible to obtain an online estimate for this particular product before interacting with a representative. Unfortunately, in order to obtain information about pricing and product specifics, you are required to speak with a representative, which is neither ideal nor transparent.

Because their website is lacking in clarity on product features and costs, it can be difficult to comprehend what they have to offer. This gives me a foul taste in my mouth right away when I think about it.

If I were in the market for something as important as life insurance, I would want to map out my options on my own before taking the time to schedule an appointment with an agent who I am aware has commissions on the line. If I were in the market for something else, I would want to map out my options on my own.

In addition, the results of my research indicate that Primerica’s pricing for life insurance may, in many instances, be greater than those of traditional suppliers.

In any case, before entering into any contracts, please make sure that you have conducted sufficient research, evaluated your options, and compared their costs, just as you would with any other type of financial instrument.

Possible Substitutes for Primerica

Yes, it is feasible to make good money with Primerica if you are an ambitious go-getter who has the drive to get trained quickly, effectively pitch to a large number of new representatives, and then train those representatives. But instead of doing that, why not attempt something different that isn’t surrounded by quite as much controversy?

I have a sneaking suspicion that the majority of people who become advisors for financial multi-level-marketing (MLM) organizations like Primerica aren’t all that passionate about sales or even sales-related topics like investing and insurance. Instead, many are seeking for a means to make some extra money in their spare time or from the comfort of their own homes.

Build A Skill

You can study a skill such as coding, turn yourself into a virtual assistant, writer, or proofreader, or brush up on your design skills, and then offer your services to clients on a freelance basis. There is no limit to the possibilities.


You could get licensed to sell investment and insurance products independently and then begin working for an insurance or investment brokerage rather than going to work for Primerica. This would be an alternative to working for Primerica.

I have indicated in the past that I worked for an insurance broker in Canada who offered commission rewards that were significantly greater than Primerica does. At these brokerages, you will also have the opportunity to advance your education. Check around your neighborhood for more brokerages that you might be able to start working at.


You, as a customer, have access to a vast number of alternative options outside Primerica, including the following:

For Investors

Sign up for an account with an online broker and educate yourself about how to make investments on your own if you want to become a do-it-yourself (DIY) investor.

Regarding Insurance

PolicyMe is my go-to recommendation when it comes to life insurance in Canada. They have lately developed their own items and are now selling them at prices that are extremely competitive.

Locating a Consultant to Help

If you absolutely must engage the services of a financial advisor, your best bet is to look for one that works on a fee basis and is not financially motivated to steer you toward a particular product. They are qualified to assist you with both financial investments and insurance matters. Conduct a search in your area for individuals that provide “fee-based financial advice.” Look for someone who has a Certified Financial Planning (CFP) accreditation if you can.


Primerica is in no way a fraudulent company.

Even when the business does everything in accordance with all the laws and regulations, that does not mean that working for them or purchasing their products will necessarily be beneficial to you in any manner.

Although there are numerous horror stories about poor advisors working for Primerica, I have no doubt that the company also employs a number of excellent advisors.

It is not my purpose to generalize and tar all Primerica advisors with the same brush; rather, I want to shed light on MLM sales strategies that I do not particularly enjoy and do not believe to be an effective way to achieve success.

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