Primerica is a leader in the insurance, financial services and referral market. The company sells financial products and services by using a model of direct selling as well as a distribution in franchising. Primerica Life Insurance Company is headquartered in Gwinnett County, Georgia. The company is a spinoff from the parent company Citi. Through Primerica’s Financial Services Marketing organization, there are more than 100,000 independent representatives which include over 20,000 security broker-dealers.
Primerica sells term Life Insurance and provides a number of financial products and services through its affiliates. The company’s financial services include mutual funds, segregated funds; variable annuities managed accounts and loans. Primerica Life Insurance company also offers long-term care insurance, auto insurance, prepaid legal insurance, credit monitoring and debt management assistance. Primerica Life Insurance Company has a client base that exceeds six million individuals.
The company primarily conducts business in the United States, Canada, Puerto Rico and Spain. Primerica Life Insurance Company was founded in 1977 by Arthur Williams and established its customer base by creating mass-marketing appeal with the concept of the buy term and invest the difference. Through this model the company believed that middle-income clients should have the opportunity to purchase reasonable protection. The product that was initially offered to clients was the company’s term life insurance. Clients are also encouraged to systematically save and invest in various investment vehicles. Primerica brokers encourage clients to invest in mutual funds as well as individual retirement accounts.
The company has experienced commendable expansion and has outgrown the capacity of the intended business. In response to the growth and expansion, the company established the first American National Corporation, which is a holding company for the first American Life Insurance under which Primerica life insurance falls. The mission of American Life Insurance is to help families become properly covered by insurance as well as become financially independent and debt free. The new Primerica Life Insurance model has emerged as one of the most dynamic insurance companies in business today. The company is now one of the largest financial services marketing firms in North America.
Insurers choose Primerica because the company teaches individuals how money works. With knowledge of how money works, individuals are better able to make informed decisions about how to take control of their finances and become debt free. The company also provides comprehensive financial needs analysis which gives clients a picture of their current financial situation. Based on the client’s needs, a variety of services and products are offered. The goal of the products and services offered by Primerica are to help people receive the proper protection while becoming financially independent.
What makes Primerica so dynamic is that the company also offers business opportunities to individuals interested in working within the insurance and financial services industry. The company allows individuals to get into business for themselves and live life on their own terms. Over the years, Primerica has helped countless individuals discover that freedom of business ownership while gaining valuable insight into the financial services industry.