Primerica Reviews: How Much Stock Should You Put In Them?
Are Primerica Reviews REALLY important?
I have been reviewing life insurance companies for the past 2 years. It’s been an awesome experience because it gives me the opportunity to sort through companies with a fine-tooth comb.
This is so important because my clients rely on me to keep on top of all the changes happening in the life insurance industry…as they come up.
All of this knowledge translates into savings for you and happy clients for me. Which is a true win-win.
I see each and every customer as a client for life – so I want to give you the VERY best service and this means knowing the ins and outs of all the best life insurance companies in Canada.
That said, how important are Primerica Canada Reviews in the grand scheme of things? Let’s find out!
So Why Should You Listen to Me?
My name is James Heidebrecht, the founder of Policy Architects. We are a small boutique agency serving the needs of Canadians from coast to coast.
I’m a Dad, husband, and entrepreneur…
…and a consumer of the products I sell. My life insurance policy guarantees that if something bad happens to me and I die my family will continue to thrive financially.
The safety net life insurance provides those I love is invaluable. It means I can sleep easy knowing they are protected from a worst-case scenario unfolding.
So What's the DEAL with Primerica Reviews?
Well Primerica is an AMERICAN multi-level marketing (MLM) company.
BUT they do have offices in Canada.
I have to admit for most people the term MLM really sets off some warning signs and justifiably so. It means there are people out there trying to grow their businesses through recruitment.
Hmmm, this may conflict with giving people the best possible advice.
Well let’s start with Google to see what people have to say about their experiences.
Primerica Reviews: Google
Well, Google reviews are nonexistent. This is true for a lot of the bigger life insurance companies. I am not sure how they manage it but they have been able to block the reviews – which means there is no way for us to be able to see what people say about this insurer.
If you have been reading my reviews you know I don’t put a whole heck of a lot of stock into online reviews because people have a tendency to concentrate on the negative experiences…
…and some reviews may even be fabricated but I have to admit blocking them completely leaves a bit of a bad taste in my mouth.
Which means we need to dig a little further.
Primerica Reviews Insureye
Well, Insureye gives them 2.5 stars out of 5.
While this may sound bad to you – from my perspective it’s pretty good. I have seen far worse in my review process.
There are definitely some complaints though and I would not call the Insureye reviews GLOWING. Price hikes rejected homemakers and general dissatisfaction seems evident.
Not an amazing performance.
Primerica Reviews Consumer Affairs:
For me, this is a little more concerning. Consumer Affairs only gives them 3 out of 5 stars. I take these complaints a little more seriously because of the nature of the website.
Clients mention price hikes again, pyramid schemes (how people often feel about MLM) and general customer support issues.
The writing is on the wall that there are some issues you should be aware of when dealing with Primerica Canada.
Issues to be Aware of When Dealing with Primerica
Multi Level Marketing - Beware
Multi-Level Marketing by nature prevents clients from getting the best possible advice for life insurance needs.
If the whole goal is to sell the life insurance products for a specific company you are not going to hear about the insurers that may be a better fit.
The best part of dealing with an independent life insurance agent is the fact that they are independent. We have access to the best life insurance companies in Canada and will select the one that fits your specific needs.
This can mean savings in the tens of thousands over the course of your term.
If you add team building for profit – you really complicate a life insurance sale. Who wants to be recruited to sell life insurance when they buy their policy.
Despite all of this, it is unlikely that we will see an end to MLMs any time soon. While specific MLM companies have risen and fallen, the model itself – which promises easy money and an alluring community – has withstood a number of court challenges over the years. But hopefully the anti-MLM movement will bring about change through consumer education and pressure, as well as supporting the many people who fail to reap the rewards that these businesses promise.
Cost - Very Expensive
Did you know that Primerica Canada has very expensive life insurance rates? Don’t believe me? Run a quote on our calculator here or check out the chart below:
A 40 year old male, non-smoker, looking for $500,000 of 20 year term coverage will pay $47.90 per month with the Western Life Assurance Company (top of the chart). For Primerica’s custom advantage Term 20, he’ll be out $63.18 per month (bottom of chart – highlighted in blue). That’s a difference of $15.28 per month or $3,667.20 over the life of a 20 year policy!
Or if you’re into percentages, how would you like to pay 30% more for your insurance? Not to mention, Primerica’s term insurance comes with NO option for you to convert to permanent coverage.
***These quotes were run using Compulife software in December, 2020
If you want to find out more about Primerica check out our comprehensive review by clicking the button below. We have all the information you need to make an educated decision.
Remember – to be forewarned is to forearmed. A little information goes a long way – especially if you read up BEFORE you speak to an agent.
So if you are looking through Primerica Reviews you need to speak to an agent at Policy Architects!
Because we are not captive agents, nor are we multi-level marketers.
We are independent life insurance agents, which means we have access to some of the most incredible life insurance companies in Canada.
The best way to save money and find the most comprehensive policy is to SHOP! Remember not all life insurance companies are created equal.
Call us today. We can help!