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Diana Said:

Does anyone have term life insurance with primerica? Are rates with another company better?

We Answered:

I have Primerica's 35 year level term insurance. Even though I'm an agent, there are just way too many life insurance companies out there to compare who has the best rates. Primerica offers different level terms of 10, 20, 25, 30, and 35 year. But among Primerica's competitors such as Metlife, Prudential, AIG, Allstate, State Farm, etc., Primerica has the lowest rate.

Comparing rates alone should not be only factor when deciding which company to choose. You should also look at their ratings from AM Best. Primerica has AM Best rating of A+.

What other features are included in the life insurance policy?
Primerica sells one policy per family. Terminal illness benefit are included in all life policies at no additional cost.

What happens at the end of the term for each company? At Primerica, life insurance policies are guaranteed renewable without providing proof of insurability. They are also convertible to another term policy, not a cash value life insurance policy.

Kimberly Said:

Should I get private term life insurance?

We Answered:

It is a good idea to think about this now. And, yes you should get term life insurance because your employer's insurance is usually not transportable. Meaning you can't take it with you.

Why do you want insurance? What do you expect it to do for you? Do you really need it?

If you are single, you may not need it, or you may need quite a bit less than you think. Married, homeowners with kids- now you NEED it. Especially, if you do not have enough in liquid assets to cover needs for the next ten to fifteen years.

Look to companies who only use Level term insurance with no conversion policy, one policy to cover an entire household, and a policy that covers both existing children and future children for the same single premium. Be sure they will also complete a complimentary financial outlook survey for you, to be sure of you needs.

Stephanie Said:

How important is it to get the best rates Term Life Insurance company?

We Answered:

Price is a major factor in absence of value. I will not speak of online quote sites because they are only good for comparing similar policies on price alone, not features.

Insurance Pickle is right about one thing on Primerica policies, they do not have a Convertible clause. They instead of Exchange provisions. Primerica policies, although not the cheapest, is still pretty cheap comparably.

The Exchange provision is a good one, instead of converting to a cash value policy that is probably 2-10 times more than current policy premiums, it automatically exchanges to another level term product based on age alone. If you get seriously ill, it's not an issue.

Don't go with a company or agent that will openly criticize a competitor with out fully knowing the competition.

Point of note, Dave Ramsey recommends Zander Insurance because they pay a good portion of his radio show. He also used to be a Primerica agent. One of the most well respected names in the financial industry was a former Primerica agent. Go figure.

Norman Said:

how to buy term life insurance?

We Answered:

A+ is the highest rating, and there are HUNDREDS of companies rated A+.

Go talk to a local agent.