Primerica Inc. Company Research Report

Company Overview

• Name: Primerica Inc.

• Mission: Primerica's mission is to help families get on the path to a secure financial future. The company is dedicated to empowering individuals with financial education, providing them with the tools to make informed decisions regarding money management and helping them achieve financial independence.

• Founding: Primerica was founded in 1977. No specific founder information is available.

• Key People: No specific key people information is available.

• Headquarters: Duluth, Georgia, USA.

• Number of Employees: Approximately 151,611 as of the end of 2023.

• Revenue: Primerica's total revenue for the 2023 fiscal year was $2.8 billion.

• What is the Company Known For: Primerica is a leading financial services company known for providing term life insurance, investment services, and financial education to middle-income households across North America.

Products

Product Offerings

1. Term Life Insurance

• Description: Primerica specializes in term life insurance, providing coverage for a specified number of years. The company's philosophy is "Buy Term and Invest the Difference," encouraging clients to invest the savings from lower premiums into their future.

• Key Features: Affordable protection, policies range from 10 to 35 years, covers approximately 5.7 million lives.

2. Investment Services

• Description: Primerica offers opportunities for mutual funds, managed accounts, annuities, and educational savings plans.

• Key Features: The capability to start investing with as little as $25 per month, approximately 2.9 million client investment accounts managed.

3. Debt Solutions

• Description: Primerica provides strategies, such as debt stacking, to help clients systematically reduce debt.

• Key Features: Emphasizes eliminating debt in an efficient order with minimal additional cash outlay.

4. Auto & Home Insurance

• Description: Offers competitive quotes through a referral program with Answer Financial.

• Key Features: Provides ability to save up to $565 or more annually on auto and home insurance.

5. Legal Protection

• Description: Offers a legal protection plan through Pre-Paid Legal Services, Inc.

• Key Features: Access to services such as will preparation and estate planning.

6. Identity Theft Protection

• Description: IDTheftDefense program offerings to help protect against and restore identity theft.

• Key Features: Includes monitoring, counseling, and restoration services.

7. Mortgage Services

• Description: Provides mortgage solutions through partnerships with Rocket Mortgage.

• Key Features: Includes options for conventional, FHA, jumbo, and VA loans, as well as HELOC options.

8. Home Security

• Description: Partners with Vivint to offer home automation and security services.

• Key Features: Provides a comprehensive security solution.

Recent Developments

• Recent Developments:

• Received numerous recognitions such as being named the "#1 Most Trusted Life Insurance Company" by Investor’s Business Daily in 2022.

• Recognized in Newsweek's "America’s Greatest Workplaces for Diversity 2025" and "America's Greatest Workplaces 2024".

• Included in Bloomberg’s Gender-Equality Index in 2023.

• Featured in the S&P MidCap 400 and the Russell 1000 stock indices.

• New Products Launched: No specific new products launched were documented in the provided data.

• New Features: No specific new features for existing products were documented in the provided data.

• New Partnerships: Continues partnership with Rocket Mortgage to offer comprehensive mortgage services.

The report highlights Primerica’s robust offering aimed at supporting middle-income America with tailored financial services. With a significant sales force and strategic partnerships, the company positions itself to serve this demographic with educational resources coupled with financial solutions.