Life Insurance in Canada

Primerica Financial Services is financial company, based in the USA, with subsidiaries in Canada (from 1986) and Spain (2000). Its “problematic” Multi Level Marketing structure is the main topic of many articles, blogs and discussions.

Their efforts to have a quantity of advisers for any price creates a lot of negative responses. But I want to write now about something different. I don’t want to write about their employees. I want to write about their products.

I has been in life insurance Canada business for 15 years and I think I have enough skills to point out 5 importante remarks about Primerica’ policies and their disadvantages.

1. It’s expensive. If you check prices of  competitors and prices of Primerica policies, you will recognize most of their products are overpriced - simply because there are too many people involved.
2. Stuck to the term life. I have nothing against term life of course, it’s very important part of my business, but it doesn’t fit everybody
3. Captive sales force - do you believe some company’s products can fit ANYBODY? Range of clients’ needs is much wider than any offer of one company. But Primerica advisers can/t offer you anything else…
4. Part-time advisers. Do you think it’s a good choice? Do they know more than you know about finance? go and read some articles about their “seminars” on the web!
5. Non convertible policies. don’t you want to think on the back door? Primerica doesn’t offer permanent policies, so if you are unlucky with health - you have problem!