Having proper life insurance protection – particularly for families with children – is a crucial element to a firm financial foundation. Today, just one third of American adults own a life insurance policy, and among those who do, two out of five think they don’t have enough.1 Some financial experts recommend parents with young children have coverage that’s 10 times their annual income.2
If you haven’t taken a look at your insurance coverage lately, now would be a good time for a checkup. Primerica’s free Financial Needs Analysis (FNA) is an easy place to start.
For many families, term insurance is the most cost effective option. In fact, experts agree that term insurance, which only provides a death benefit, is almost always the best choice. Compared with a whole life policy, term allows the consumer to purchase more coverage for less money.3
Primerica only markets term life insurance. Find out how to get your personalized FNA today!
1. MSNMoneyCentral, viewed January 15, 2009
2. MSNMoneyCentral, viewed June 11, 2008
3. Money, March 2008
Primerica representatives market term insurance underwritten by the following affiliated companies in these respective jurisdictions: National Benefit Life Insurance Company (Home Office: New York, NY) in New York; Primerica Life Insurance Company (Home Office: Boston, MA) in all other U.S. jurisdictions; Primerica Life Insurance Company of Canada in Canada.
In today’s uncertain economic climate, the last thing you and your family need is to be financially vulnerable. Homeowner’s insurance and life insurance are two key areas that many people overlook or undervalue. In fact, 66% of homeowners are underinsured by an average of 18%1 and an estimated 68 million Americans have no life insurance.2
Primerica encourages you to review your coverage to make sure your home and income are adequately protected.
Homeowner’s Insurance: Homeowner’s insurance should cover 100% of the cost to rebuild, not the home’s value (including the land). That amount of coverage protects you regardless of real estate market fluctuations. Concerned about the increased cost of correct coverage?
Consider changing your annual deductible from $500 to $1,000 and you can save about 20% on premium costs. Shopping around is another great way to potentially save money for the same coverage. It’s a good idea to get new quotes from multiple insurers every two years. Contact your local Primerica Representative to learn about Primerica Secure™, Primerica’s auto & homeowner’s insurance referral program.
Life Insurance: If you have children and are still relying on just your employer for life insurance, you are most likely under protected. If any significant life changes have occurred throughout the year – such as the birth of a child – you will need to review your policy to make sure it still meets your needs. Experts recommend that a family with young children have coverage that’s 10 times the parents’ annual income.3
Even if you think you already have the right homeowner’s or life insurance, it’s not a bad idea to get a second look. For more than 30 years, Primerica has offered financial solutions tailor‑made to each individual client’s needs. Visit Primerica Financial Needs Analysis to find out what Primerica can do for you.
In 2005, Primerica teamed up with Palm Inc. to develop software that would allow the company’s licensed representatives to take life insurance applications on a handheld device. They aptly named it: TurboApps.
TurboApps was an immediate success for our company. Instead of being buried in paperwork, representatives and Home Office application processors could process applications electronically and instantly.
Before TurboApps, representatives mailed in:
More than 30,000 life insurance applications per month
More than 18,000 loan applications
Over 20,000 new representative applications … and more!
The new TurboApps technology saved time, money … and thousands of trees! Plus, the software made taking applications virtually error-free and helped the representatives receive their commissions sooner. This new, secure way of taking applications also helped qualified clients get insured faster. It was a win-win.
Since its release:
More than 695,000 applications have been sent via TurboApps.
TurboApps was honored with Computerworld’s Best Practices in Mobile & Wireless Award for “Business Evolution through Mobilizing Field Workers” and was also a 2007 Computerworld Honors Finalist.
Clients can be sure their information is password protected and encrypted, plus their business is issued faster.
Primerica has further enhanced TurboApps’ capabilities by adopting the new Windows Mobile 6.1 platform. When this platform rolls out this year, it will allow representatives to:
Adapt more easily to familiar “Windows” interface
Call, email or text a client within the TurboApps software
Run multiple software applications at once
Use Office Mobile
Primerica prides itself on using technology to help our representatives succeed in their businesses. TurboApps has changed the way we do business and has allowed us to keep pace in this fast-track business world.
For more than 32 years, Primerica has advocated its philosophy of “Buy term and invest the difference.” As for the rest of the life insurance industry, they just keep changing their approach to the marketplace by creating and re-inventing life insurance policies that don’t work.
In the 1970s, other life insurance companies were selling Whole Life insurance.
In the 1980s, Universal life insurance was created.
In the 1990s, Variable Universal Life was created.
In the 2000s, Return of Premium Term Insurance was created …
… and now they are going back to selling whole life insurance again.
Would you put your financial future in the hands of a company lacking a clear direction?
Three decades. One timeless principle. We stand for something!
Primerica has always believed families need affordable protection for today and control over building wealth for tomorrow. Our “Buy Term and Invest the Difference” approach to personal finance puts families in position to achieve their goals in life. We’ve never had to change our approach in the marketplace … because it works!
Primerica has been helping middle market families with their finances for more than 32 years. Our company is financially strong and, while other companies are struggling in the current economy, we’re thriving. And that’s not so easy in this economy!
Everywhere you look you see headlines about mass layoffs and company closings. Companies once thought of as “rock solid” are crumbling before our eyes. Not Primerica. Why? Because no matter what state the economy is in, people still need our solutions.
How many companies today can say they’re debt-free? Primerica can! We have no debt whatsoever. Our life insurance companies hold a conservative investment portfolio of $6 billion. Plus, for the last seven consecutive years, Primerica has reported greater than $2 billion in revenue each year.
One of the largest marketers of term life insurance for more than two decades, Primerica’s life companies paid out more than $958 million in death claims in 2008 and have nearly $639 billion of life insurance in force. Want further proof of Primerica’s credibility? Primerica Life Insurance Company (PLIC) and National Benefit Life Insurance Company are both rated “A+” by A.M. Best and PLIC is rated “AA” by Standard & Poor’s. (A.M. Best and Standard & Poor’s are two independent rating firms that assess a life insurance company’s financial strength and ability to meet its ongoing financial commitment to policyholders.)
While other companies are cutting back and struggling to meet their obligations, Primerica is thriving. We’re continuing our three-decade track record of growth, and are on track to dominate the financial services industry.
Primerica Life Insurance Company’s insurance financial strength and claims-paying ability and National Benefit Life’s ratings of A+ by A.M. Best are considered “Superior.” This rating is assigned to companies that, in the opinion of A.M. Best, have a SUPERIOR ability to meet their ongoing obligations to policyholders. Primerica Life’s rating of AA by Standard & Poor’s is considered “Very Strong.” This rating means, in the opinion of Standard & Poor’s, that an organization’s capacity to meet its financial commitment on obligations is VERY STRONG. (National Benefit Life is not rated by Standard & Poor’s.) Primerica Life Insurance Company (Home Office: Boston, MA) is rated by A.M. Best and Standard & Poor’s.
A.M. Best ratings range in order from the highest ratings as follows: A++, A+, A, A-, B++, B+, B, B-. C++, C+, C, C-, D, E, F. Standard & Poor’s (S&P) ratings range in order from the highest as follows: AAA, AA+, AA, AA-, A+, A, A-, BBB+, BBB, BBB-, BB+, BB, BB-, B+, B, B-, CCC+, CCC, CCC-, CC.
Primerica representatives market term life insurance underwritten by the following affiliated companies in the following jurisdictions: National Benefit Life Insurance Company, Home Office: New York, in New York state; Primerica Life Insurance Company (PLIC), Home Office: Boston, MA, in all other U.S. jurisdictions and Primerica Life Insurance Company of Canada. Each company is responsible for its own obligations.
