More subtly, you won’t get any of your paid charges back if you terminate your life insurance policy. If you cancel or allow your term life strategy lapse, you will not receive a return or any money. When a person’s entire life is based on money, he or she may receive some money when it is dropped.
Can I cash out my Primerica life insurance?
Primerica does not offer whole or universal life insurance policies, and it only offers one term life policy that can be modified to match your needs, unlike many other life insurance firms. This term life policy, like others, has no cash value and simply provides a death payout.
Subscription Fees
The subscription fees for your Sales Force designation are listed under “Service Levels and Pricing” on the POL log-in page. Different Service Levels offer various benefits. Service Levels, as well as their features, criteria, and pricing, may change at any time.
A Representative below the rank of Regional Vice President (“RVP”) is not needed to pay for POL in order to keep his or her Primerica Representative status. Representatives below RVP can access Limited POL without a paying subscription, which includes compliance materials, PrimericaMail email, and information about Primerica compensation. A paid subscription is necessary to use sales tools (TurboApps, the Primerica App, and other features and functionality), online training, motivating materials, and other features and functionality.
On your POL Billing Date, the current month’s monthly charge is always payable in full. The day of the month listed on your POL Statement is referred to as the “POL Billing Date.” See MyAccount for instructions on how to alter your Billing Date to a different day of the month within 30 days of the current Billing Date. Changes take 24 hours to take effect.
Subscription prices are not pro-rated depending on the date of registration, Service Level Change, Billing Date Change, or reconnection. If your failure to access the Application is caused directly or indirectly by your use of nonconforming hardware or software configurations, there will be no pro-ration or return of payments.
Your POL subscription price may increase if you advance to a new sales force classification. A Full Service POL subscription is required for Authorized Users at or above the level of RVP. You will be notified of an increase in your monthly fees in the month that your advancement becomes effective, giving you enough time to set your Billing Preference before the new monthly amount is due.
Billing Preferences
Under the My AccountBilling Preference tab, you can choose a preferred invoicing method for eligible membership payments at any time. The Company will attempt to collect your subscription money using your specified billing method on your POL Billing Date. You have the option of paying using a credit or debit card (Visa or Mastercard only), a bank draft, or, in some cases, your earned commissions. Your billing preferences can be changed at any time.
Subscribers will also receive a monthly statement ten days following the POL Billing Date, including the amount paid and the amount that was not recoverable. Statements may be seen under the My AccountView Statement tab in POL. Additionally, if you give an email address in My Account, a statement will be emailed to you.
You must have a positive Net Financial Position that is at least ten times the amount of the monthly fees owed if you prefer to have the Company collect the monthly charge from your earned commissions. My POLBusiness TrackingRep ProfileRep Balances contains your Net Financial Position. Monthly service fee commission offsets will appear in Section K of the Earned Commission Statement.
By altering your Billing Preference, you can cancel a bank draft, credit or debit card charge up to three working days before the payment is scheduled to be made.
Nonpayment
If a payment is refused, dishonored, returned, reversed, or readjusted for any reason, including a stop payment order or insufficient funds, the Representative will be notified and will be liable for all charges paid by the Company.
The Company shall not be liable for any loss, damage, or expense of any kind or kind resulting directly or indirectly from, or in any way connected with, a financial institution’s refusal to complete a payment for any reason, or a payment’s rejection, dishonor, return, refusal, or readjustment. For each rejection, dishonor, return, refusal, or readjustment of a payment for your fees by any financial institution, the Company will charge you a service fee of $20.
If a subscription cost is not paid and cannot be collected in full from your specified billing method, the Company may immediately cancel your subscriptions.
By checking in with the disconnected ID and selecting a Service Level on the MyAccountService Selection screen, any subscription that has been cancelled due to nonpayment can be reinstated. You must pay the current month’s subscription fees for that service level based on your current sales force designation if you are restoring a paid subscription. Future charges will be determined by your sales force classification at the time.
Cancellation of a Paid Subscription
Authorized Users who are not RVPs can use the My AccountService Selection screen to shift from a paying Service Level to a Service Level that does not require a paid membership. By dialing 1-888-737-2255, you can permanently deactivate your POL account.
Cancellation by the Company
The Company maintains the right to terminate your access to POL at any time, with or without justification, for any reason, including the following:
Refunds
Except as stated above, no refunds are given for cancellations. Requests for Service Level modifications or access cancellations will take effect on your next POL Billing Date, and you will continue to have access to those services until the end of the month. In the event that your agent agreements are terminated, your access to POL will be terminated immediately.
Notices and Disclosures
Within 60 days of the statement date for the month in question, billing disputes must be submitted in writing. Disputes can be sent via fax, email, or ordinary mail. The POL’s contact information is listed below.
You agree that Company may give you notice about subscription billing or other things by publishing a message on the Application when you log in or sending an email to any email address supplied under My Account. Unless we receive notice that the email was not delivered, such notice will be considered received by you within 24 hours of the time it is posted to the Application or emailed to you.
POL Billing Department Contact Information
You can request copies of bank draft authorizations and subscription statements from the POL Billing Department. You can also get copies through My Account.
Do I get my money back if I cancel life insurance?
If I cancel my life insurance coverage, do I get my money back? If you cancel term life insurance during the free look period or in the middle of the billing cycle, you will not receive a refund. If you cancel a whole life policy, you may receive some money from the cash value, but any profits are taxed as income.
Do you get your money back at the end of a term life insurance?
Do you get your money back when your term life insurance policy expires? Unless you obtained a return of premium life insurance policy, you will not get money after your term life insurance policy ends.
Is Primerica a trustworthy company?
Yes, Primerica is a reputable firm. The firm has been in operation for more than 40 years and annually pays out over a billion dollars in life insurance payouts to clients’ families. Through its insurance firm subsidiaries, Primerica was the second largest issuer of term life insurance coverage in North America in 2020ii,iv. AM Bestiv has given Primerica Life Insurance Company an A+ “Superior” credit rating.
Is Primerica a good company?
Primerica received four out of five stars for overall performance. Our editorial team determines NerdWallet’s ratings. Consumer feedback, data from the National Association of Insurance Commissioners, and financial strength ratings are all factors in the scoring algorithm.
Can I pay my Primerica life insurance Online?
Pay Primerica Life Insurance Company online or by doxo with your Visa, MasterCard, or Discover credit or debit card, Apple Pay, or your bank account.