Primerica Canada - Our Impact

PRIMERICA PROVIDES MIDDLE-INCOME CANADIAN FAMILIES ACCESS TO ESSENTIAL FINANCIAL SERVICES

For more than 35 years, Primerica Canada has helped middle-income Canadians become financially protected, debt free, and prepared for retirement with their financial products and services. Our success is connected to our clients' success: their ability to become financially stable and prepared for retirement or life's unpredictable events.

Primerica Canada has over 10,000 licensed financial representatives assisting middle-income families across Canada. They work every day to assess client needs, provide education and offer access to straightforward solutions like term life insurance, as well as mutual funds, annuities and other financial products from industry-leading companies.

PRIMERICA HAS ITS PULSE ON MIDDLE-INCOME FAMILES & THEIR FINANCES

Learn how Canadian middle-income families feel about their financial outlook with our research and reports.

PRIMERICA CANADA RESEARCH

  • 2024: Report | Financial Security Monitor™ Insights (English) (French)
  • 2023: Special Report | Balancing Act: Enhancing Regulation Without Compromising Financial Access in Canada (English) (French)
  • 2022: Report | Financial Security Monitor™ Insights (English) (French)
  • 2021: Report | Financial Security Monitor™ Insights (English) (French)
  • 2019: Report | Financial Security Monitor™ Insights (English) (French)

PRIMERICA PRESS RELEASES

WE'RE PART OF THE COMMUNITIES WE SERVE

Canadians prefer to work with a licensed professional over self-help online resources when making a major financial decision.1 At Primerica, our representatives build face-to-face relationships with clients to help them overcome challenges they see firsthand, like:

Living paycheck to paycheck

47% of Canadians are currently living paycheck to paycheck.2

Saving enough for retirement

Almost half of Canadian non-retirees aged 55-64 have less than $5,000 in savings and 75% have $100,000 or less in savings.3

Debt

At the end of 2020, the average Canadian had $74,897 in consumer debt.4

MIDDLE-INCOME FAMILIES COUNT ON US TO STRENGTHEN THEIR FINANCIAL FUTURES

Primerica Canada helps middle-income households to receive personal financial guidance by providing regular savings vehicles that can be funded with as little as $25 a month. Primerica Canada licensed representatives focus on helping educate our clients to adopt positive personal financial habits. The value of financial guidance benefits Canadians by:

  • Boosting Household Wealth: Over a span of 15 years, individuals who received financial advice had nearly three times more wealth than those who didn't.5
  • Enhancing Retirement Savings: Working with a financial advisor can result in a significant increase in retirement savings, between 55 to 60 percent, while also enabling a 23 to 25 percent increase in spending during retirement.6
  • Fostering a Resilient Canadian Economy: By the year 2060, if 10 percent more Canadians received financial advice, Canadian household savings would increase by $2 billion, real GDP would increase by $900 million, and the Canadian government would gain $7 billion in tax revenue.7

Our financial products and services help middle-income Canadians to afford financial services, establish financial protection through life insurance, become debt-free, build on becoming financially prepared for retirement, and positively contribute to the sustainability of the Canadian economy.

1 2019 Primerica Financial Security Monitor Insights Report
2 Leger360.com, "Household Finances and Economic Recession," Sept. 1, 2023
3 Abacus Data, "2023 Canadian Retirement Survey," Healthcare of Ontario Pension Plan, June 15, 2023
4 Equifax.com, "Total Outstanding Consumer Debt Tops $2 Trillion," Nov. 30, 2020
5 Montmarquette, C. and Viennot-Briot, N. 2015. "The Value of Financial Advice," Annals of Economics and Finance, 16(1), 69-94; Montmarquette, C. and ViennotBriot, N. 2016. "The Gamma Factor and the Value of Financial Advice." CIRANO Working Paper 2016s-35; and Montmarquette, C. and Prud'Homme, A. 2020. "More on the Value of Financial Advisors" CIRANO Project Report 2020RP˜–04.
6 Saving for the Future: Impacts of Financial Advice on the Canadian Economy. The Conference Board of Canada and Investment Funds Institute of Canada (2020)
7 Ibid