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Background on Company, Products and Services
What is Primerica?
Primerica is the trade name of Primerica, Inc., an organization that markets financial services through various affiliated companies in Canada, including PFSL Fund Management Ltd., PFSL Investments Canada Ltd., Primerica Financial Services Ltd., Primerica Life Insurance Company of Canada, and Primerica Client Services Inc., as well as affiliated companies in the U.S. (collectively the "Primerica Companies").
The Primerica Companies are subsidiaries of Primerica, Inc. which is a public company listed on the New York Stock Exchange. Primerica, Inc. is a leading distributor of financial products to middle income households in North America, assisting clients in meeting their needs for term life insurance, mutual funds, segregated funds and other financial products distributed on behalf of third parties. Primerica, Inc. offers financial products through its subsidiaries. Each subsidiary of Primerica, Inc., and not Primerica, Inc. itself, is responsible for its obligations to its customers.
Product Offerings: Insurance, Mutual Funds & Other Financial Products and Services
Term Life Insurance and Segregated Fund products
Term life insurance products and Common Sense Funds segregated fund products are underwritten by Primerica Life Insurance Company of Canada, Head Office: Mississauga, Ontario. Commissions, trailing commissions, management fees and expenses all may be associated with segregated fund investments. Please read the Information Folder before investing. Other than the guaranteed maturity value and the guaranteed death benefit, the amounts you receive under your contract are not guaranteed. Their values fluctuate and past performance may not be repeated.
Primerica Life Insurance Company of Canada
Life Insurance Capital Adequacy Test (LICAT) Ratio
December 31, 2018
LICAT Public Disclosure
December 31, 2019
LICAT Public Disclosure
December 31, 2020
LICAT Public Disclosure
Mutual Fund Products
To sell mutual funds, Primerica Representatives must be sponsored by PFSL Investments Canada Ltd., mutual fund dealer, Head Office: Mississauga, Ontario. Commissions, trailing commissions, management fees and all expenses may all be associated with mutual fund investments. Mutual funds are sold by prospectus only. Please read the current prospectus before investing. Mutual funds are not guaranteed, their values fluctuate and past performance may not be repeated.
Auto & Home Insurance
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 (Primerica Life Insurance Company of Canada and PFSL Investments Canada Ltd.). Auto & Home insurance is not directly offered by Primerica. Auto insurance is currently only available in Alberta and Ontario, whereas Home insurance is available in British Columbia, Alberta and Ontario.
Primerica Representatives make simple referrals of clients to approved third party mortgage loan providers under Primerica'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 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's mortgage loan referral programs. Please consult your local Primerica office or your Primerica Representative for further details regarding Primerica's mortgage loan referral programs.
Disability & Living Benefits
Primerica Enhance™ is a trademark of Primerica, Inc. References to Primerica refer to Primerica Life Insurance Company of Canada. Primerica Life Insurance Company of Canada is a wholly owned indirect subsidiary of Primerica, Inc.
Primerica and its affiliates assume no liability for the insurance products and services offered by The Edge Benefits Inc. through the Primerica Enhance™ program.
The information provided in this website is for general information purposes only. Please see the relevant The Edge Benefits Inc. Product Overview and application for full details of all terms and conditions of the insurance product being applied for.
Legal Services and Identity Theft Services
Pre-Paid Legal Services are offered by contractual agreement in all provinces outside of Quebec pursuant to a written agreement between Primerica Client Services Inc. ("PCS"), PFSL Investments Canada Ltd. (“PFSL"), and PPL Legal Care of Canada Corporation (“PPL") d/b/a LegalShield. In Quebec, similar legal services to Pre-Paid Legal Services are provided under a Quebec legal services contract with NextGen CC&C Avocats Inc., a Quebec law firm ("NextGen"), and applicable fees will be paid through PPL Legal Care of Canada Corporation. Legal Services are available across Canada.
ID Theft DefenseSM is offered by contractual agreement between PCS, PFSL and PPL. ID Theft Defense Services are available across Canada except in Quebec.
Primerica Representatives are independent contractors of Primerica, are not agents of PPL and can only make referrals to PPL.
Neither Primerica nor its officers, employees or sales representatives directly or indirectly provide legal services, representation or advice. Services are provided through LegalShield, which provide access to legal services offered by a network of provider law firms through membership-based participation. Neither PPL 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 nor their officers, employees or sales representatives directly or indirectly provide identity theft protection, restoration services or advice. LegalShield 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 Representative may be able to offer also may be limited. Please consult your local Primerica office or your Primerica Representative for a listing of products and services available.
Financial Needs Analysis
The Financial Needs Analysis ("FNA") is designed to assist you in identifying your financial needs and goals so that you can make better informed decisions in managing your money. An FNA is developed based on information you provide, as summarized on data input pages, and on certain generally accepted assumptions and reasonable estimates. It is provided to you as a complimentary, no-obligation service by Primerica. The FNA is not a financial plan.
The FNA should be construed as a guide for you to use in deciding how best to attain your financial goals. Representatives are compensated through commissions or referral fees on the sale of financial products offered by the financial product companies they represent. Representatives are not financial planners, investment advisors, financial consultants or other specialists who provide financial advice and whose compensation may be unrelated to sales.Home Security & Automation
Primerica Representatives are independent contractors (the "Representatives") who, for the purpose of introducing you to Vivint, are acting as follows:
- Representatives only holding a life insurance license: Acting as a representative of Primerica Client Services Inc. ("PCS");
- Representatives only holding a mutual fund registration: Acting as a representative of PFSL Investments Canada Ltd. ("PFSL");
- Representatives holding both a life insurance license and a mutual fund registration: Acting as a representative of PFSL;
- Representatives holding no license: Acting as a representative of PCS.
The Representative is facilitating your introduction to Vivint pursuant to an agreement among Vivint (Vivint, Inc. and Vivint Canada, Inc.), PFSL, PCS, and Primerica Client Services, Inc. (a US- based affiliate of PCS and PFSL). Pursuant to an agreement among Vivint (Vivint, Inc. and Vivint Canada, Inc.), PFSL Investments Canada Ltd., Primerica Client Services, Inc. in Canada, and Primerica Client Services, Inc. (a US- based affiliate of PCS and PFSL)Primerica Representatives can only make referrals to Vivint, and are not authorized to sell or offer to sell home security and home automation products and services. Vivint is available in all provinces and territories in Canada except Quebec, Prince Edward Island and Nunavut.Continuity of Business
Primerica Life Insurance Company of Canada ("PLICC") and PFSL Investments Canada Ltd., mutual fund dealer, ("PFSL") have developed a Continuity of Business Plan that addresses the possibility of a future emergency or significant business disruption. If such an event were to affect PLICC or PFSL's headquarters, customers could continue to access their funds by contacting the following companies, depending upon the type of investments the customer owns.
Customers with Primerica Concert Series mutual funds can continue to access their funds via telephone at (800) 510-7375, via email at concert@AGF.com, via the internet at www.agf.com, or through their local Primerica representative.
Customers with Primerica Common Sense Funds segregated funds can continue to access their funds via telephone at (800) 463-9997, via the internet at www.agf.com, or through their local Primerica representative.
Customers with third party mutual funds can continue to access their funds by contacting the respective mutual fund company via the contact information provided on their trade confirmations, annual account statements, or through their local Primerica representative.
The Primerica Newsroom includes unedited articles about Primerica written by third party news organizations. These organizations are not affiliated with Primerica or any Primerica Companies. The articles are included for information purposes only.
Independent Contractor Representative Information
The Business Opportunity
The Primerica business opportunity involves the sale of term life insurance and mutual funds, as well as offering other financial services products and services such as debt consolidation loan referrals. Primerica Representatives are individuals who have signed an Independent Business Application ("IBA") and who have been approved to become a member of Primerica's sales force. Primerica Representatives are independent contractors, and are not employees of Primerica Companies, or its parent company Primerica, Inc.
From January 1, 2020 through December 31, 2020, Primerica paid its Canadian sales force members an average annual cashflow of approximately $12,726, which reflects compensation paid in Canadian dollars on all lines of business to those licensed representatives. Actual compensation (gross cash flow) is, among other factors, dependent upon the size and scale of a representative's organization, the number of sales and the override spread on each scale, and the ability and efforts of a representative and their downlines. Having said this, Primerica provides an opportunity for individuals who work hard to develop a business with unlimited income potential.
Any cash flows stated represent gross income only. All commissions are subject to Deferred Commission Account withholding and applicable taxes, and Representatives are responsible for their own business expenses. All commissions and bonus payments are subject to applicable Primerica agent agreements and Operating Guidelines. Commission rates, rules and procedures and bonus programs are subject to change in any manner from time to time, including adjustments to renewal commissions on product sales previously made. Primerica may from time to time modify, supplement or terminate any of the compensation in any manner. Additional details are available from Primerica.
Part-time Business Opportunity
In Canada, the part-time opportunity may be subject to certain restrictions, depending on your occupation. The IBA fee is $103.95 and the monthly Primerica Online fee is $28.00 (including applicable taxes).
New members of the Primerica sales force who have inquiries concerning an Independent Business Application ("IBA") fee refund should refer to the Basic Agreement contained in the IBA. For additional IBA inquiries, send email to: email@example.com.
Recruiting Inquiries -- Individuals with inquiries pertaining only to recruiting contacts by a Primerica Representative should send an email to: firstname.lastname@example.org.
Primerica®, Primerica Ring™, the Primerica ring design, Primerica Enhance™, Custom Advantage™, Concert™, the Concert™ Logo, Common Sense Funds™ and SMART Loan™ are trade-marks and service marks of the Primerica Companies, and are used in the United States and Canada. The Primerica Companies also claim rights in certain other trade-marks and service marks contained in these web pages.
LIMITATION OF LIABILITY: IN NO EVENT WILL Primerica BE LIABLE FOR ANY DAMAGES, INCLUDING WITHOUT LIMITATION DIRECT OR INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES ARISING IN CONNECTION WITH THIS SITE OR ANY LINKED SITE OR USE THEREOF OR INABILITY TO USE BY ANY PARTY, OR IN CONNECTION WITH ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS OR LINE OR SYSTEM FAILURE, EVEN IF PRIMERICA, OR REPRESENTATIVES THEREOF, ARE ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, LOSSES OR EXPENSES.
Primerica is committed to excellence in serving all clients including people with disabilities in accordance with the Accessibility Compliance Report, 2005 (the “AODA”).
The purpose of the AODA is to develop, implement, and enforce standards to achieve accessibility for persons with disabilities in the following areas: goods, services, facilities, information and communication, employment, transportation, buildings, structures and premises.
Accessibility Compliance Report
Accessible Customer Service
Customer Service Policy Statement for Providing Products and Services to People with Disabilities
Primerica's Customer Service Policy Statement for Providing Products and Services to People with Disabilities demonstrates its commitment to sound governance, accountability and service excellence. As part of this commitment, Primerica will use reasonable efforts to ensure that our policies, practices and procedures are consistent with the following principles:
- Products and services will be provided in a manner that respects the dignity and independence of persons with disabilities.
- The provision of our products and services to persons with disabilities and others will be integrated unless an alternate measure is necessary, whether temporarily or on a permanent basis, to enable a person with disabilities to obtain, use or benefit from our products and services.
- Persons with disabilities will be given an opportunity equal to that given to others to obtain, use and benefit from the products and services.
Primerica will train all Primerica representatives and Head Office employees and will ensure that any third parties who act on our behalf are aware of our procedures. For more details on our training program, please refer to the Customer Service Policy Statement for Providing Products and Services to People with Disabilities .
Notice of Service Disruptions
Primerica will notify clients and visitors in the event of a planned or unexpected disruption in the facilities or services usually used by people with disabilities. This notice will include information about the reason for the disruption, its anticipated duration, and a description of alternative facilities or services, if available. Depending on the circumstances, the notice will be placed on Primerica Canada's public website and/or at or near the affected Primerica related facility or service.
In the event of an unexpected disruption, Primerica shall provide notice as soon as is reasonably possible.Feedback
Primerica welcomes public input and comments on the provision of our products or services to persons with disabilities. Feedback helps identify areas where changes need to be considered and ways in which we can improve the delivery of Primerica products and services.
Feedback may be provided by telephone, in person, in writing, by e-mail or by filling out the Primerica Service Feedback form .We will consider the feedback provided and respond as soon as possible if requested.
Please direct feedback to:
Primerica Canada Head Office
Attention: Regulatory Compliance
6985 Financial Drive, Suite 400, Mississauga, Ontario L5N 0G3
Phone: (905) 812-2900
Fax: (905) 813-5314
For TTY/Teletypewriter users: (855)-774-8899
For further information, please refer to Primerica's Customer Service Policy Statement for Providing Products and Services to People with Disabilities .
Primerica’s Accessibility Policy & Multi-Year Accessibility Plan (the “Accessibility Plan”)
Introduction and Statement of Commitment
The Integrated Accessibility Standards Regulations (Ontario Regulation 191/11) (“IASR”) under the Accessibility for Ontarians with Disabilities Act, 2005 require that effective January 1, 2014, Primerica must establish, implement, maintain and document accessibility policies and a multi-year accessibility plan which outlines Primerica’s strategy to prevent and remove barriers for persons with disabilities and to meet its requirements under the IASR. Primerica has combined its accessibility policies and its multi-year accessibility plan into one document. Please see the Accessibility Plan.
Under the IASR, the following accessibility strategies set out the requirements that are applicable to Primerica:
- workplace emergency response information;
- information and communication;
- employment; and
- built environment - design of public spaces standards
The Accessibility Plan outlines Primerica’s strategy to prevent and remove barriers to address the current and future requirements of the IASR.
In accordance with the requirements set out in the IASR, Primerica will:
- post the Accessibility Plan on its website (https://www.primericacanada.ca/);
- provide the Accessibility Plan in an accessible format, upon request; and
- review and update the Accessibility Plan at least once every five years.
Other Primerica Resources
- Primerica Canada
- Primerica Investor Relations
- Primerica Online
- Primerica Business Opportunity
- Primerica Newsroom
- Primerica Financial Needs Analysis
- Primerica Latino
- Primerica AALC
- Women In Primerica
- Primerica Financial Solutions
- My Primerica
- Invest with Primerica
- Primerica Shareholder Services
- Primerica Secure
- Primerica Photos
- Primerica | Facebook
- Primerica on Twitter
- Primerica on LinkedIn
- Primerica on Instagram
- Primerica Logo