Five Reasons Why to Buy Primerica Life Insurance ?

Brian sound like you are working for rightinsurance.ca ????

definatly smell fishy here !

Why would you want a permanent insurance when you save up enough cash for retirement ... you die who is going to get financially hurt ????

I hope this helps:

www.rightinsurance.ca


MISTAKE: Failing to buy enough insurance while you are still healthy.

Medical evidence is required when you buy life insurance. This evidence usually consists of a list of questions to elicit your medical history, a brief exam by a nurse, a blood and urine specimen and possibly a report from your doctor. If at a later date you decide that you really need more coverage, the process begins again. If your health has changed you may have to pay higher premiums.

MISCONCEPTION: Cheapest is the best.

That term policy premium might be cheap in year one. But most term policies renew at regular intervals (every 10,20 years) and the renewal premium rises at each interval because it reflects your new age.

In general, a 10 year term policy is the cheapest but by year 13 it is actually more expensive than buying Term 20. In other words, if you think you need coverage beyond 10 years, it is better to chose a 20 year term now.

MISTAKE: Failure to understand your options

So on each renewal the premium rises at each interval as stated above. But you do have options. Most term policies include a free option to convert your policy to permanent coverage before age 65. Converting to permanent coverage make sense especially if you have had a change in health. Even better, you will not require a medical to convert.

The types of permanent coverage eligible for conversion usually include whole life and universal life but these also vary by company. If you buy term coverage do so with a company that offers several options for the converted policy.

MISCONCEPTION: Buying through the internet is cheaper (no commissions to be paid)

Insurance comparison services on the internet say “buy direct and save money”. The fact is, you cannot receive a discount in the price of life insurance by avoiding a life insurance agent. Sales charges and costs (such as commissions) are built into the premium that you pay for any life insurance policy that you buy. You will be paying those built-in charges regardless of where you buy the insurance. Finding and using a local life insurance agent will not cost you more than dealing with someone in another city or province by telephone or mail.

MISCONCEPTION: Association insurance has cheaper rates.

Associations include organizations such as universities, credit card companies and consumer groups like CAA. Sometimes association rates are cheaper but in many cases the rates go up every five years. Associations are like groups where several insureds are lumped together and pay a premium relative to the group being covered. Even where limited medical questions are asked, the premiums reflect the inability for the insurance company to fully assess individuals and the group like rates is charged. Association groups also may offer very limited conversion opportunities. Therefore if you cancel your credit card or if you are no longer a CAA member you coverage is cancelled.

As a smart consumer, obtain an individual insurance quote and compare the products for price, renewal options and conversion options.

MISTAKE: failure to understand that buying term is like renting life insurance.

Permanent (whole life) plans are more expensive in the early years but the premium stays the same for the duration of the contract. Because you pay more in the early years, you have some equity (cash value) in the policy. If you decide to cancel the contract you get the cash value back. However, you have no equity in a term policy. You pay premiums applicable to your age and this rate rises at every scheduled renewal. Because you are paying the true cost of coverage, there is no equity in the policy. If you cancel the coverage 10 years down the road because the renewal rate is too expensive, then you walk away. Bottom line, you are renting coverage briefly and won’t have it when you need it or more importantly when your family needs it!

MISTAKE: paying your insurance premium on a monthly basis

The insurance company charges extra to those who pay monthly as they incur extra expenses to administer monthly payments. If you are able to pay the yearly premium it can save you up to 10%.

MISTAKE: paying extra for benefits (the frills) that you may never use

Waiver of Premium Benefit: the insurance company will waive the premiums if you become disabled. Few people understand that you must be totally disabled in order to be eligible. Also if you have term insurance the insurance company will usually pay only to age 65 while for some types of permanent insurance they will pay the premiums beyond age 65.

Guaranteed Insurability Option: In a nut shell you pay more now just in case you want to buy more insurance in the future without having to provide proof of health. It essentially insures your insurability. However, your premium for the new policy will be at current age rates. One more reason to buy all of the insurance that you need now and at your current age.

Accidental Death Benefit: This benefit guarantees that if you die in an accident, your beneficiary will receive an additional predetermined amount of money on top of the base policy amount Again, I’d say if you need accident coverage buy it rather than depending on an ADB rider hopefully supplementing the amount of coverage your family really needs now.

MISTAKE: buying coverage because no medical evidence is required.

This might sound appealing but in actual fact you will pay more for this insurance and the amount of coverage available will be limited. If you are healthy, take the time to prove it and pay premiums that truly reflect the good risk that you are.

MISCONCEPTION: the premium I see on the internet is what I get.

Insurance companies offer several classes of standard rates. Those in the top physical condition and with no risk factors will get the best rate. Premiums on the internet usually default to the top preferred category (the cheapest). However, keep in mind, only a certain percentage of applicants will actually qualify for the best rates.

MISCONCEPTION: waiting until you lose weight or stop smoking in order to get the best rate.

This is just procrastination. Yes, you may pay higher rates now but did you know that if you quit smoking or if you keep the pounds off for one year, you can apply to have your rate reassessed.


With Primerica you can not convert the policy to a permanent one.


female non-smoker preferred plus born 06/15/1985 (25 years old)

term 30 $500,000
Unity life $26.55/month
BMO $27.45/month
Primerica $53.20/month

term 30 $1,000,000
Unity Life $44.10/moth
BMO $48.65/month

So in this case a female can get double the coverage for less than Primerica with more options.

http://www.bbb.org/atlanta/business-reviews/financial-services/primerica-in-duluth-ga-6985

That is why LSM insurance was trashing Primerica !

You see in business is very dirty !

by the way I heard LSM insurance in cananda has a lot of complain as well ,,,, the best is stay away from Them !

I have just replace my 100 dollars Sun life policy with 100 k cover with me and my wife with an 500k policy with Primerica life of canada with 100 dollars ( 35 years term )

What a great deal from primerica ! I will highly recommend anyone to check their products !

How is the rate for life insurance .. I am a non-smoker 32 and is looking for a 35 years term with 500k cover ?

Hi Pat

In Primerica we have preferred and Preferred Plus Rate

32 years old - Male ( 35 years term )- Price no change for 35 years

500K Coverage

Preferred Plus = $55.58 / month
Preferred = $ 62.70/ month
Non-Tobacco = $82.65/ month


Let me know if you would like to know more
Primerica ROCKS !
Check out Primerica Blog
http://www.askprimerica.com

Here is Primerica recent IPO on fox news

http://www.youtube.com/watch?v=2hI5FvBN4e4

http://lsminsurance.ca/

www.SCAM.com/lsminsurance

check it yourself !

Hi you can find more info about life insruance and policies here.. check it

Life Insurance

We have them for mroe then 5 years now agent very repsonsible and very good service ...

no problems at all ...

also AMbest A+ rating ...


many bank ie RBC insurance AMbest rating is C !


very happy with them

Yeah brian is working for Rightinsurance as you can see his name registered with FSCO ! Scammer !

I heard Primerica is the largest Term life provider in North America ??? is that right ???

Primerica IS A SCAM. See Sequence Inc. Fraud Files site for details. The site is run by a forensic accountant who specializes in exposing MLM & pyramid type scams like Primerica. Key aspect: more pressure to recruit rather than sell product, reps paid lower commissions than at other companies because up to 6 levels of people above the salesperson also take out of his/her commision, etc.

More info:
http://www.sequenceinc.com/fraudfiles/2007/11/05/primerica-financial-services-a-scam/
http://www.sequenceinc.com/fraudfiles/2008/04/26/the-pyramid-scheme-aspect-of-primerica-financial-services/
http://www.pinktruth.com/index.php?option=com_content&view=article&id=405:primerica-financial-services-scam&catid=72:primerica&Itemid=123