PRIMERICA FINANCIAL SERVICES
Primerica is a Main Street Company for Main Street North America. Our goal is to create more financially independent families.
Today's families face major financial challenges. They're being forced to downsize their goals and dreams — to settle for less. Primerica shows them how they can change their life. We are the one company focused on the middle market and helping Main Street families get the financial help they need.
We help Main Street families get the protection they need at a price they can afford, invest for the future and get out of debt. We teach families fundamental financial principles that aren't taught in school and we give them an opportunity to build a business and transform their life.
"Buy Term and Invest The Difference"
Primerica originated the "Buy Term and Invest the Difference" philosophy that encourages families to purchase affordable term life insurance so they can get the protection that they need at a price they can afford and have more money to invest in their family's future.
What kind of a company is Primerica?
Primerica (NYSE: PRI) is the largest independent financial services marketing organization in North America, serving middle-income households in the U.S., Canada and the territories of Puerto Rico and Guam. Our International Headquarters is located in Duluth, GA. Our distribution model uniquely positions us to reach underserved middle-income consumers in a cost-effective manner and has proven itself in both favorable and challenging economic environments. As of 2018, Primerica reported over 130,000 life insurance licensed independent representatives, including over 25,000 additionally-licensed securities representatives.
What Does Primerica Do?
Primerica's core operations focus on the distribution of term life insurance, which is underwritten by the Company (Primerica Life Insurance Company); mutual funds and annuities through PFS Investments, a Securities and Exchange Commission-registered broker-dealer investment adviser affiliate; as well as other financial products, which are distributed primarily on behalf of third parties. Our product and service offerings are generally intended for middle-income consumers with household incomes of between $30,000 and $100,000 (both USD) per year.
In addition, Primerica provides an entrepreneurial full- or part-time business opportunity for individuals seeking to earn income by distributing the Company's financial products.
Primerica insured approximately 5 million lives and had over 2 million client investment accounts as of December 31, 2018. In 2018, Primerica, through its insurance company subsidiaries, was the #2 issuer of Term Life insurance coverage in North America. Primerica stock is included in the S&P MidCap 400 and the Russell 2000 stock indices and is traded on The New York Stock Exchange under the symbol "PRI."
A.L. Williams & Associates (A.L. Williams), the precursor to Primerica, was founded on February 10, 1977, by Arthur L. Williams, Jr., his wife, Angela, and 85 other colleagues. The new company pioneered the concept of "Buy Term (Life Insurance) and Invest the Difference." This core philosophy illustrated the idea that its mostly middle-income client base could purchase sufficient protection with term life insurance and also systematically save for the future in a separate investment vehicle such as mutual fund Individual Retirement Accounts (IRAs).
Through a series of acquisitions and mergers, A.L. Williams began operating as Primerica Financial Services in 1991, its name changing once again upon the company's Initial Public Offering (IPO), on April 1, 2010, to Primerica, Inc.
OUR LICENSED AGENTS
Primerica's representatives come from all walks of life and from many different vocational backgrounds. We are your friends, your neighbors, your co-workers ... we are people you know and trust, and we've earned our excellent reputation for providing affordable financial solutions by helping families just like yours.
We are proud to have over 117,000 licensed representatives serving communities across North America, who love what they are able to do for families through Primerica.
Collis and Britney Temple, of Baton Rouge, LA, consider themselves to be financial literacy activists. "I have an undergraduate degree in business, a Master's in economics and I was working on my PhD, yet when I saw a presentation about Primerica and the financial concepts we teach families, I knew nothing about any of them," recalls Collis. Britney and I believe that financial literacy equals economic empowerment. And that empowerment puts people in the position to be able to do things for their family's future that they otherwise wouldn't have even known they could do. We love that about Primerica - affecting positive change in our community."
Education is just the beginning. "Primerica's products and services allow clients to put into practice the principles we show them in order to help them become financially independent and to take care of their loved ones should something happen to them," Collis says. "We've seen over and over again how we do what's right for clients and for our communities."