DOES Anyone Know how Primerica Insurance Works??

[toolbelt]

Yet the system works for some.

some being about 1/10th of 1%, but aren't you overlooking the other 99.9%?

 

[Cornelius]

FE and GUL are not their market. In the sales world they sell what they have to offer. From what I understand their policies are issued from Primerics Life not a MLM BS..Not defending them of course.

 

[DHK]

From what I understand their policies are issued from Primerics Life not a MLM BS

Compensation methods (should not) have any impact on premiums to be paid for a given level of coverage and health conditions. However, Primerica often have higher premiums for that given level of coverage & underwriting.

Primerica does have an A+ rating from A.M. Best.
http://consumers.ambest.com/Company..._nPi-R4jti3y8HnEQDto_Jjgj7pprKSXe-fq2r_3B345c

 

[Cornelius]

I agree with many comments but it is what it is..

 

[toolbelt]

FE and GUL are not their market. In the sales world they sell what they have to offer. From what I understand their policies are issued from Primerics Life not a MLM BS..Not defending them of course.

Actually most is reinsured thru Swiss Re so in reality they're selling Swiss Re insurance.

 

[toolbelt]

Primerica does have an A+ rating from A.M. Best.

According to A.M. Best's ratings;
"NOTE:Ratings opinions address the relative ability of an insurer to meet its ongoing insurance obligations. The ratings are not assigned to specific insurance policies or contracts and do not address any other risk, including, but not limited to, an insurer's claims-payment policies or procedures; the ability of the insurer to dispute or deny claims payment on grounds of misrepresentation or fraud; or any specific liability contractually borne by the policy or contract holder. A Strength Rating does not address the suitability of any particular policy or contract for a specific purpose or purchaser."

Its basically stating that MLMs are quite profitable. Hardly newsworthy!

 

[DHK]

Its basically stating that MLMs are quite profitable. Hardly newsworthy!

You mean INSURANCE is quite profitable. You DO know that A.M. Best rates INSURANCE companies, right?

AM Best - The Insurance Information Source

AM Best was founded in 1899 by Alfred M. Best with the mission to report on the financial stability of insurers and the insurance industry. It is the oldest and most widely recognized provider of ratings, financial data and news with an exclusive insurance industry focus.

 

[toolbelt]

You mean INSURANCE is quite profitable. You DO know that A.M. Best rates INSURANCE companies, right?

AM Best - The Insurance Information Source

I was speaking in context to Primericas rating as per AM Best. And in that respect, the rating is more about corporate profitability than insurance.

 

[DHK]

Ratings are about financial health, acceptable underwriting risks, and their ability to pay claims, not necessarily the size of the company.

They're not that big. Only $500m - $750m. Many companies are far larger... probably because they sell cash value policies and annuities.

 

[toolbelt]

Ratings are about financial health, acceptable underwriting risks, and their ability to pay claims, not necessarily the size of the company.

They're not that big. Only $500m - $750m. Many companies are far larger... probably because they sell cash value policies and annuities.

And in this case, "A Strength Rating does not address the suitability of any particular policy or contract for a specific purpose or purchaser." In other words, the award says little about the benefits of the products sold to the consumer.