Primerica Helps Families Find Financial Solutions
Having enough life insurance to not only cover the loss of income, but also your family’s other debts (such as house, car, credit cards, etc.) is a wise move. Even though it may feel like a struggle at the time if you have to scrape the funds together to cover the premium.
Should anything happen to you, your family would be protected by having mortgage paid off. Having the house paid off would secure your family’s finances. Or, if you have insurance that is triggered by a disability or being unable to work, then you and your family are covered if something should happen to the finances.
Mortgage insurance actually is such a good idea that many mortgage companies, in fact many insist on it. That is wise on the part of the mortgage company because it provides them with additional security, and makes it easier for them to justify loaning you the money for your mortgage. From a business standpoint it really just makes sense both for you and for them. However, you are not required to purchase the life or disability insurance from the mortgage company, and you can usually get more coverage for less per month with a term policy through another company.
Take, for example, the case of Elizabeth Smith. Elizabeth and her husband Bill worked hard to raise a down payment to buy a home. The Smiths had three children, and they both decided that Elizabeth should stay home with the kids. Bill had a good job and a nice paycheck so it wasn’t a burden. However, Bill was tragically killed in an auto crash. This left Elizabeth alone to support the family without an income.
Thankfully Bill had adequate life insurance to cover both the loss of income and the other debts. Elizabeth received a check from the life insurance company large enough to support her and the kids until they were grown, and enough money to pay off the mortgage on the home. This removed the largest monthly debt and gave the family the security of actually owning the house in which they lived. Elizabeth and the kids no longer had to worry about how they would meet the house payment. The insurance covered it all.
Unfortunately, Elizabeth’s case isn’t unique. Mortgage insurance, like any other insurance, is one of those things that you are very glad to have when you finally need it.
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Has anyone bought insurance from Primerica Life Insurance Company?What did you think? Because everyone is saying they are more expensive and its a rip off.
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Specialist term life insurance coverage advice is crucial for anyone contemplating taking out a life insurance policy. Get the information you need so that you can be confident you are choosing the right policy for you and your family. Get the latest Protective Life Insurance Policy information: www.accuratetermlifeinsurancequote.com
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Posted by American Car Insurance on October 23rd, 2008 filed in life insurance | 10 Comments »
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10 Responses to “Primerica Helps Families Find Financial Solutions”
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October 23rd, 2008 at 3:41 am
i love PFS.
October 23rd, 2008 at 3:34 am
Only agents from other companies will say Primerica is more expensive, but they fail to provide the facts and the benefits Primerica provide to their clients.
I own Primerica's life insurance 20 year term for 7 years now. I have $250k coverage with annual premium of $355 bought at age 40. Before that, I had a universal life policy of $100k coverage and annual premium of $1235 at age 30.
Expensive? You have to decide whether it is or not.
October 23rd, 2008 at 3:53 am
Yyou should know that every company has something written bad about them. Why? Its because agents from these companies will tend to write bad things about their competitors so that they can keep people away. But if you were to talk to a Primerica client, you would understand what Primerica is able to do for families. What Primerica is able to do for families is so powerful, that no other company can come close to do what Primerica can do. They do parts of what Primerica does, but they don't provide the total solution. In fact, some companies don't even bother dealing with middle income families. The sad reality about middle income families is that many are drowning in debt, finding it difficult to save any money, and are worried about their retirement. Primerica provides solutions in all these areas.
I'm thankful to find Primerica and what they are able to do for me and my family. Our life has totally change for the better. I'm almost a few years away from paying my mortgage off, my retirement plan is on track to surpassing my financial independence number, and money is no longer an issue with me. While I still keep track on my spending, a little extra money to spend does help improve my quality of life.
I don't know if Primerica is for you or not for you. But if you take a look at what they are able to do for you, you would have nothing but good things to say about the company. I guarantee that if you were to speak to every 6 million+ clients in Primerica, you will hear lots of good things.
October 23rd, 2008 at 4:04 pm
You can learn more about the company at http://www.primerica.com
In regards to life insurance, Primerica believes in selling one life policy for the whole family, not individual policies per person like other companies do. Having one policy means that there is only one policy fee and plus, if you and your spouse has coverage, you may get a rate discount (which is based on total coverage). Its similar to purchasing auto insurance. If you had multiple cars, you would insure all your cars in one policy and you get discounts as well.
The child rider is a feature in which all kids between the age of 15 days to 25 years old are covered. Once all your kids reach the age of 25 years old, you may want to get rid of the child rider, unless you plan to have more kids.
October 23rd, 2008 at 8:01 pm
The easiest way is to contact Primerica's customer service (1-800-257-4725).
As stated in your life policy, in order for you to cancel your life insurance policy, you need to send the request in writing and mail it to:
Primerica Life Insurance Company
3120 Breckinridge Blvd.
Duluth, Georgia 30099-0001
If you have already sent this letter couple months ago, then you should definitely contact customer service.
October 24th, 2008 at 1:59 am
As a Primerica Financial Service representative, here are the specifics of Primerica Life Insurance or National Benefit Life (if you live in New York) policies:
1) Husband, wife, and/or children are covered in one life policy. The child rider covers all children in your family.
Increase Benefit Rider is available.
2) Term policies are customized to your needs.
3) Banding coverage. This is where rate per thousand is determined by total coverage of the husband and wife (along with other usual factors such as age, height & weight, smoker or non smoker, health conditions). So the higher this banding coverage is, the less it cost per thousand coverage.
4) Terminal illness benefit included free of charge. In case you were diagnose to die within 12 months, you can use 40% of the face amount of the policy (up to a maximum of $250,000) to pay for your expenses.
5) Like all other life policies, waiver of premium is available.
6) Unlike other life policies that converts term into whole life or universal life at the end of the term (or even worse, cancel at the end of the term), Primerica's life policies are convertible into another term policy.
7) Guaranteed renewable term. If you wish to renew your term policy instead of exchanging it or canceling it, you can renew it without any medical checkups. When you renew, the new premiums remain level for another 5 years and continues until age 75. After age 75, premiums goes up every year to age 95
9) All Primerica's clients receives a customized, confidential, and complimentary Financial Needs Analysis (whether you buy their life insurance or not).
Primerica's rates has been reduced numerous times over the past 10 years. The last rate reduction happened in 2007, making Primerica's rates for term policies cheaper than Prudential, Metlife, and AIG. So you really have to get the final quotes from all the companies you are trying to get term insurance from. Don't trust the quotes online because they are only preliminary. Your final quote will be different than the quote online (hopefully its lower).
While premiums are a factor in deciding what company to go with, you also have to compare what's the difference between Primerica's term policies and the other companies term policies such as what are your options at the end of the term? What if you become terminally ill? Do they sell life policy per individual or per household?
You also have to compare the financial strengths of these companies. Primerica Life Insurance or National Benefit Life has an AM Best Rating of A+.
October 24th, 2008 at 11:01 am
here are some facts in regards to Primerica Life Insurance:
Terminal illness benefit included in the policy. If you were diagnosed to be terminally ill, you can use the face amount of the policy to pay off your bills
1) AM Best rating of A+
2) Pays average death claim of $2.6 million/day
3) Place in force more than $90 billion in coverage in 2008, bringing the overall total coverage to near $800 billion.
4) Average face amount per policy is $285,000.
5) Over 100,000 life licensed representatives
6) One policy per family
7) Banding coverage is included. That means, with the husband and wife in a single policy, rate is base on total coverage. The bigger the total coverage, the less it cost per $1000 coverage.
9) Waiver of Premium rider available. If you were to become disabled, your premiums will be waived and your policy will stay in force.
10) Child rider available. Under this single rider, all kids up to age of 25 are covered.
11) Your life insurance is guaranteed renewable. When it is time to renew, no medical checkup is required to see if you are still insurable.
12) Life insurance policies are exchangeable or convertible to term insurance only, not whole life or universal life.
13) Customized, confidential, and complimentary financial needs analysis included.
October 26th, 2008 at 4:58 am
October 26th, 2008 at 11:09 am
I have Primerica's 35 year level term insurance. Even though I'm an agent, there are just way too many life insurance companies out there to compare who has the best rates. Primerica offers different level terms of 10, 20, 25, 30, and 35 year. But among Primerica's competitors such as Metlife, Prudential, AIG, Allstate, State Farm, etc., Primerica has the lowest rate.
Comparing rates alone should not be only factor when deciding which company to choose. You should also look at their ratings from AM Best. Primerica has AM Best rating of A+.
What other features are included in the life insurance policy?
Primerica sells one policy per family. Terminal illness benefit are included in all life policies at no additional cost.
What happens at the end of the term for each company? At Primerica, life insurance policies are guaranteed renewable without providing proof of insurability. They are also convertible to another term policy, not a cash value life insurance policy.
October 26th, 2008 at 2:11 pm
This is the Primerica's home office number: 770-381-1000. They can direct you to the life insurance department.