Primerica Misconceptions FAQsi
Is Primerica Canada a legitimate company?
Yes. Primerica Financial Services Ltd. and its Canadian affiliates, referred to as Primerica Canada, is a legitimate company whose head office is based in Mississauga, Ontario. Primerica Canada is a financial products and services provider that has been in business for over 38 years. As of the end of December 2024, Primerica Canada had over 250 corporate employees who support approximately 10,000 Canadian independent, life insurance licensed representatives from coast to coast.iii
Primerica Life Insurance Company of Canada has a "Superior" A+ credit rating by AM Bestiii. In 2024, Primerica Canada issued $15.9 billion of term life insurance. PFSL Investments Canada Ltd, the Company's investment dealer, and Primerica Life Insurance Company of Canada, the Company's segregated fund manufacturer, had $24 billion in client asset values combined for Canadians at December 31, 2024.iv
Is Primerica Canada a trustworthy company?
Yes, Primerica Canada is a trustworthy company. The company has been in business for over 38 years and in 2024 paid over $170 million in death benefits to Canadian families. As of December 31, 2024, Primerica Canada insured over 500,000 lives, had over $150 billion of life insurance in force, and held $24 billion in client asset values. Primerica Life Insurance Company Canada has a credit rating of A+ "Superior" by AM Bestiii.
Is Primerica Canada a MLM scheme?
No, Primerica Canada is not an MLM. Primerica Canada is a financial products and services provider. The Primerica Canada affiliates include a licensed life insurance company, a licensed life insurance agency and a registered mutual fund dealer. Primerica Canada pays compensation to its independent contractor representatives for product sales based on a hybrid insurance agency model.
Primerica Canada has been in business for over 38 years. Its parent company, Primerica, Inc., is publicly traded on the New York Stock Exchange (NYSE) under the stock symbol "PRI" and is rated A+ by the Better Business Bureau. Primerica Life Insurance Company of Canada paid over $170 million in life insurance benefits to clients' families in 2024 and issued $15.9 billion of new life insurance coverage in 2024iv.
Is Primerica Canada a pyramid scheme?
No, Primerica Canada is not a pyramid scheme.
Primerica Canada is a leading financial products and services provider that has been in business for over 38 years and its parent company, Primerica, Inc., is publicly traded on the New York Stock Exchange (NYSE) under the stock symbol "PRI".
Primerica Canada's independent contractor representatives earn commissions based on personal sales and income on the sales of the representatives they train and supervise; representatives do not earn income from the recruitment of other representatives. Representatives may expand their businesses by adding representatives to their teams to increase the number of clients they serve in Canada. Primerica Canada's independent contractor representatives must maintain proper provincial training and licensing requirements to recommend financial products.
iDisclosures:
iiInsurance:
- Primerica Financial Services Ltd. representatives market term life insurance and 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. Commissions, trailing commissions, management fees and expenses all may be associated with segregated funds. Please read the information folder before investing. Subject to the guaranteed maturity value and the guaranteed death benefit, the amounts you receive under your contract are not guaranteed. Fund values change frequently, and past performance may not be repeated.
- In Canada, Primerica PrecisionTerm life insurance is policy form ZLF22PA0G. In Canada, Primerica PowerTerm life insurance is policy form ZLF22QA0G.
ivAM 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.
vFinancial 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
For more information, please visit https://primericacanada.ca/public/canada/primerica_disclosures.html.