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Primerica Life Insurance
About Primerica
Primerica Life Insurance began as an insurance company specializing in issuing coverage to Civil War soldiers and sailors with war-related disabilities and sickness. The company has since grown immensely and has become the single largest insurance company in the United States. In addition to providing insurance coverage to the general public, they also insure over 88 percent of the Fortune 500 companies. Primerica offers three term life products, designed to fulfill the different needs of individuals, and that can be adjusted to function as mortgage payment protection insurance.
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Primerica Life Insurance Plans
Primerica offers a level death benefit term insurance that has 17 different term choices. They have a special conversion program with special incentives to convert to permanent insurance. As stated above, the company offers three term life plans:
- One Year Term Insurance: This is a good plan to consider having as a compliment to other coverage during brief periods of financial hardship. The premium for this term increases annually for the same amount of coverage. It is convertible before the age of 60 and may be renewed in annual periods until the age of 95, health conditions notwithstanding.
- Scheduled Term Insurance: These plans are available for purchase in set terms lasting 10, 15, 20, 25, or 30 years. They may be converted to permanent policies until the age of 60. Premiums are variable from year to year. Scheduled Term Insurance plans must be renewed annually, however there is no medical exam required.
- Level Term Insurance: Available for purchase in terms of 10, 15, 20, or 30 years, these plans guarantee a level premium for the period of the term. They are convertible to permanent coverage until the age of 90, and renewable until the age of 95.
Primerica Life Insurance Financial Ratings
A.M. Best: A+ (Superior)
Fitch Ratings: AA+ (Very Strong)
Moody's Investors Service: Aa2 (Excellent)
Standard & Poor's: AA (Very Strong)
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