Insurance by Heroes has been around since the late 1970s and is considered a reputable player in the insurance industry, regularly meeting its financial obligations to policyholders. However, critics argue that Primerica is a pyramid scheme because it encourages new recruits to focus on recruiting as opposed to selling insurance policies. Primerica also does not provide online quotes for its policies, a feature many consumers expect when looking for an insurer.

Moreover, Primerica does not offer whole life insurance options and only offers term coverage. This means that policyholders cannot convert their term policies to whole life insurance or invest in the company’s mutual funds or other investment products. This is a significant limitation because the company focuses on providing affordable protection to middle-class families.

Detailed Review of Omaha Term Life Plans

Aside from the limited product offerings, Primerica has been criticized for its aggressive sales tactics. The company often targets family and friends of current Primerica agents to sell its products. Moreover, the company’s representatives receive commissions for each new person they recruit, a practice known as multilevel marketing.

While Primerica’s financial strength and low volume of consumer complaints are positive points, its pushy sales tactics and high fees may deter some prospective customers. This is especially true for individuals who want to shop around and compare multiple companies’ prices before choosing an insurer.

Nevertheless, Primerica’s term life insurance provides valuable coverage to those who need it. And its guaranteed insurability option gives policyholders peace of mind that they will be able to renew their policy without a medical exam or other health-related requirements even after they reach age 95.