subject: Consumer Reports on Primerica Life Insurance [print this page] Consumer Reports on Primerica Life Insurance
Consumer reports on Primerica life insurance are important for anyone who has been thinking about investing in one of the products of the company. Primerica Life Insurance Company is a very well known and one of the largest companies in the US providing term life insurance. The customers of the company would always be the best people to provide you true and unbiased information about the company.
Basic Information about Primerica
Before you search for consumer reports on Primerica life insurance, it would be helpful to know a little about the company itself. A.M. Best, which is a credit rating company has rated Primerica at A+. Primerica is a part of Citigroup and there have been rumours that there is a possibility that it can be sold in the future, however, this does not mean there is anything to worry about for policy holders. The company sells term life insurance that ranges from 10 to 35 years of term. All the policies sold by the company are level term or level premium which means that the monthly premium would remain the same through the policy's term.
What are Consumer Reviews of the Company Like?
Consumer reports on Primerica life insurance have been mixed so far. Like any other insurance company, there have been several satisfied customers as well as many more that have reported complaints about the company. The company has been in the centre of various controversies and discussions because of many different reasons. One of the main complaints of the customers is the premium charged by the company. Since the cost of a product is always a primary consideration for any company, it would be very important for the customers to get a price that is as low as possible. The premiums charged by Primerica have not been very competitive and this has been one of the major complaints of the customers.
Another major reason why the company has been in the controversial position is its recruitment policy. Unlike most other insurance companies, Primerica does not recruit talented, experienced insurance agents but offers part time and full time jobs and business opportunities to average middle class people so that they can interact with the customers better. Although this has been thought to be a good way of appealing to the clients, it has also been highly criticized by several customers because of a few instances of low quality customer service. The company has an MLM insurance marketing opportunity which makes it even more distrustful for customers who are already prejudiced against MLM businesses.
Overall, it can be said that Primerica is actually a good choice for insurance in the US. Though there have been a few unfavourable consumer reports on Primerica life insurance, it has and it still is one of the leading insurance companies.
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