Primerica FAQs | General Informationi

What is Primerica Canada?

Primerica Financial Services Ltd. and its Canadian affiliates, referred to as Primerica Canada, is a leading financial products and services provider in Canada. For over 38 years, Primerica Canada has helped Canadian families become properly protected with life insurance and investment products for a more secure financial future. Primerica Canada licensed representatives, who are located in every province, provide financial education, a personalized Financial Needs Analysis (a “GPS” for finances), and financial products such as term life insurance and investment products. Primerica Canada paid over $170 million dollars of life insurance benefits to clients’ families in 2024. Primerica Canada issued $15.9 billion of term life insurance in 2024 and had a total of over $150 billion of life insurance in force protecting families at December 31, 2024iv. Primerica Canada also markets other financial products such as mutual fund investments and segregated funds. Primerica Canada has strategic partnerships with prominent Canadian investment companies, including AGF Investments and Mackenzie Investments. As of December 31, 2024, Primerica Canada had $24 billion in client asset values for Canadian families who have entrusted Primerica Canada as they work toward achieving their financial goals such as purchasing their first home, funding their children’s education and their retirement.

What does Primerica Canada do?

Primerica Canada licensed representatives help families understand where they are financially and analyze their goals to prepare for a more secure future. With offices in every province, company representatives offer a complimentary Financial Needs Analysis, (a "GPS" for finances), which provides personalized financial information that may include establishing an emergency fund, paying down debt, becoming properly protected with term life insurance and investing for future goals such as purchasing their first home, funding their children's education and retirement. Primerica Canada representatives take an educational approach to personal finance and explain foundational financial concepts that are often not taught in school. Representatives must obtain various provincial licenses in order to offer Primerica Canada's products and services and participate in ongoing training and continuing education requirementsv.

Are Primerica Canada representatives licensed?

Primerica Canada's representatives must complete provincial licensing requirements to recommend financial products to help families achieve their financial goals.

How many representatives does Primerica Canada have?

As of the end of December 2024, Primerica Canada had more than 10,000 independent, life insurance licensed representatives and over 6,800 mutual fund licensed representatives in Canada.

What products does Primerica Canada sell?

Primerica Canada representatives offer clients term life insuranceii, mutual funds, annuities, managed accountsiii, auto and homeowners insuranceix, pre-paid legal servicesx, mortgage solutionsxi and identity theft protectionxii. Not all products/services are available in all states or provinces. A representative's ability to offer products and services is subject to state and federal licensing and/or certification requirements.

How does Primerica Canada work?

Primerica Canada is a leading financial services provider with over 10,000 life insurance licensed representatives. These representatives build their own independent financial services businesses by leveraging Primerica’s training, marketing, technology and business management infrastructure. Representatives must complete provincial licensing requirements to recommend financial products to help families achieve their financial goalsviii.

Primerica's Canada representatives help families understand where they are financially and analyze their goals to prepare for a more secure future. They offer a Financial Needs Analysis (for a family's finances) and take an educational approach with clients, explaining foundational financial concepts that are often not taught in school. These concepts range from establishing an emergency fund and investing for the future to paying down debt and becoming properly protected with term life insuranceii, iii.

Who owns Primerica Canada?

Primerica Canada is a subsidiary of Primerica, Inc., a public company whose common stock is traded on the New York Stock Exchange (NYSE: PRI). For over 38 years, Primerica Canada has provided financial education, personalized recommendations, and financial products and services to working families across Canada and helped them build financial security. Primerica Canada was founded on the “Buy Term and Invest the Difference” philosophy, which addresses two of the biggest financial needs most families face – protecting income with term life insurance and saving for the futureii, iii.

Is Primerica Canada a good company?

Yes. Primerica Canada is a leading provider of financial products and services that paid over $170 million in life insurance benefits to Canadian families in 2024. Primerica Life Insurance Company of Canada has been awarded an "Superior" A+ rating from AM Bestx, an insurance industry credit rating agency. Primerica Canada corporate offices are based in Mississauga, Ontario, and the company has been in business for over 38 years. Its parent company Primerica, Inc. is traded on the New York Stock Exchange (NYSE: PRI).

Is Primerica Canada a Canadian Company?

Primerica Canada opened its doors in Mississauga, Ontario in 1986. Since then, Primerica Canada has been serving the life insurance and investment needs of middle-income Canadians. The company has paid out over $2.4 billion in aggregate death benefits to Canadian families and holds over $24 billion in client asset values as of December 31, 2024. Primerica Life Insurance Company of Canada is regulated by the Office of the Superintendent of Financial Services along with the various provincial life insurance regulators. Primerica Canada's investment business is regulated by the Canadian Investment Regulatory Organization and the various provincial securities and life insurance regulators.

Is Primerica an American Company?

Primerica Canada opened its doors in Mississauga, Ontario in 1986. Since then, Primerica Canada has been serving the life insurance and investment needs of middle-income Canadians. The company has paid out over $2.4 billion in aggregate death benefits to Canadian families and holds over $24 billion in client asset values as of December 31, 2024. Primerica Life Insurance Company of Canada is regulated by the Office of the Superintendent of Financial Services along with the various provincial life insurance regulators. Primerica Canada’s investment business is regulated by the Canadian Investment Regulatory Organization and the various provincial securities and life insurance regulators.

iDisclosures:

iiTerm Life Insurance:

  • Primerica Financial Services Ltd. representatives market term life insurance underwritten by Primerica Life Insurance Company of Canada, Head Office: Mississauga, Ontario
  • In Canada, Primerica PrecisionTerm life insurance is policy form ZLF22PA0G. In Canada, Primerica PowerTerm life insurance is policy form ZLF22QA0G.

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iiiInvestments:

  • Primerica Financial Services Ltd. representatives market segregated fund products underwritten by Primerica Life Insurance Company of Canada, Head Office: Mississauga, Ontario. Primerica Financial Services Ltd. representatives also market segregated fund products underwritten by The Canada Life Assurance Company, Head Office: Toronto, Ontario. Mutual funds are offered by PFSL Investments Canada Ltd., mutual fund dealer, Head Office: Mississauga, Ontario. Commissions, trailing commissions, management fees and expenses all may be associated with mutual funds and segregated funds. Please read the prospectus or information folder before investing. Mutual funds are not guaranteed. For segregated funds, subject to the guaranteed maturity value and the guaranteed death benefit, the amounts you receive under your contract are not guaranteed. Mutual fund and segregated fund values change frequently, and past performance may not be repeated.

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ivFinancial Information:

  • Financial numbers reflected throughout this page are the combined totals or daily average, as indicated above, as of, or for the year ended, December 31, 2024, for the following affiliated companies: Life Insurance: Primerica Life Insurance Company of Canada (Head Office: Mississauga, ON) in Canada. Investments: In Canada, mutual funds are offered by PFSL Investments Canada Ltd., mutual fund dealer, and segregated funds are offered by Primerica Life Insurance Company of Canada, Head Office: Mississauga, ON. Each company is responsible for its own financial obligations

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vIndependent Contractors:

  • Primerica Canada offers a business opportunity that involves the sale of term life insurance, securities, and various other financial service products. Primerica Canada representatives are independent contractors, not employees. Their earnings are based on the sale of products offered by Primerica Canada and also qualifying product referrals. Importantly, for many product lines, Primerica Canada representatives must obtain required licenses before the representatives may sell those products.

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viAuto and Home:

  • Primerica Secure™ is available only in British Columbia, Alberta, Saskatchewan, Manitoba, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador. Auto & Home insurance are available in AB, ON, NB, NS, PE and NL. Property & Home insurance are available in BC, SK & MB.
  • Auto & Home insurance is offered through a referral arrangement by contractual agreement between Surex.com (SurexDirect.com Ltd. and SurexDirect.com (Ontario) Ltd.) and Primerica Canada (Primerica Life Insurance Company of Canada and PFSL Investments Canada Ltd.). Auto & Home insurance is not directly offered by Primerica Canada. Primerica Canada Representatives make Auto & Home insurance referrals to Surex.com and shall not act in connection with, or recommend or provide advice about, any general insurance product offers or discounts. Primerica Canada Representatives receive referral fees paid by Surex.com, which in no way affects insurance quotes or premiums paid by the customer. Primerica Canada and its affiliates are not affiliated with Surex.com.

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viiPre-Paid Legal:

  • Pre-Paid Legal Services are offered by contractual agreement in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario pursuant to a written agreement between Primerica Client Services Inc. ("PCS"), PFSL Investments Canada Ltd. ("PFSL"), and PPL Legal Care of Canada Corporation dba PPLSI, a subsidiary of Pre-Paid Legal Services, Inc.
  • Primerica Canada Representatives are independent contractors of Primerica Canada, are not agents of PPLSI and can only make referrals to PPLSI.
  • Neither Primerica Canada nor its officers, employees or sales representatives directly or indirectly provide legal services, representation or advice. Services are provided through PPLSI, which provide access to legal services offered by a network of provider law firms through membership-based participation. Neither PPLSI nor its officers, employees or sales associates directly or indirectly provide legal services, representation or advice. Please discuss with your provider law firm regarding availability of products in your province.
  • Neither Primerica Canada nor its officers, employees or sales representatives directly or indirectly provide identity theft protection, restoration services or advice. PPLSI provides access to identity theft protection and restoration services.
  • The products and services offered by the companies noted above may not be available in your province or territory. The products and services your Primerica Canada Representative may be able to offer also may be limited. Please consult your local Primerica Canada office or your Primerica Canada Representative for a listing of products and services available.

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viiiMortgage Loans Referrals (Canada)

  • Primerica Canada Representatives make simple referrals of clients to approved third party mortgage loan providers under Primerica Canada's mortgage loan referral programs. The simple referrals made by the Representatives take place pursuant to agreements between Primerica Life Insurance Company of Canada, PFSL Investments Canada Ltd., and approved third party mortgage loan providers. Clients should contact the approved third party mortgage loan providers for questions regarding mortgage products. Primerica Canada does not deal in mortgages. Representatives are prohibited from holding themselves out as mortgage brokers, or soliciting and giving advice on mortgages for the purposes of Primerica Canada's mortgage loan referral programs. Please consult your local Primerica Canada office or your Primerica Canada Representative for further details regarding Primerica's mortgage loan referral programs

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ixIDTheftDefense:

  • In Canada, IDTheftDefense™ contractual agreement between Primerica Client Services Inc., PFSL Investments Canada Ltd., and PPL Legal Care of Canada Corporation dba PPLSI, a subsidiary of Pre-Paid Legal Services, Inc. Primerica representatives refer clients to PPLSI. IDTheftDefense™ is a trademark of Pre-Paid Legal Services, Inc., registered in the U.S. and is a trademark in Canada.

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xAM Best Ratings:

  • The following companies have been rated A+ (Superior) by AM Best: Primerica Life Insurance Company, Primerica Life Insurance Company of Canada, and National Benefit Life Insurance Company. For the latest Best's Credit Rating, access www.ambest.com. AM 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.

For more information, please visit https://primericacanada.ca/public/canada/primerica_disclosures.html.